With the motto “We understand your world” HDFC bank launched HDFC BUSINESS MONEYBACK CREDIT CARD. It is a low annual fee credit card designed to offer rewards and cashback benefits to different businesses. It offers a wide range of business-specific benefits in various forms of return including reward points and cashback. With spend-based rewards and an annual fee waiver feature, the card is a real happiness to every SELF-EMPLOYED person.
| KEY HIGHLIGHTS | FEATURES | DETAILS |
| KNOWN FOR | Reward points & cashback | |
| JOINING FEE | ₹ 500 + applicable taxes | |
| ANNUAL FEE | ₹ 500 + applicable taxes (waived off on spending of ₹ 50,000 or more in previous year) | |
| ELIGIBLE AGE | 21 – 65 years | |
| MINIMUM ANNUAL ITR | Above ₹ 6 lakh | |
| CASH WITHDRAWAL LIMIT | 40% of the credit limit | |
| CARD RE-ISSUANCE FEE | ₹ 100 |
KEY DETAILS OF HDFC BUSINESS MONEYBACK CREDIT CARD
FEATURES & BENEFITS:
CARD TYPE
Known for Reward Points & Cashback
REWARD POINTS
- GET 2X Reward Points : RPs on every online spending of ₹ 150
- Get 2 Reward Poins on all other retail spends for every spending of ₹ 150 (petrol, EMI, wallet is not included)
- Get 5X Reward Points on fuel (max. 1000 points monthly) in 1st year
- Earn 2,500 bonus reward points on spending of ₹ 1.8 lakhs for an anniversary year
BUSINESS BENEFITS
- This HDFC business moneyback credit card offers INTEREST-FREE CREDIT PERIOD for Up to 50 days,
- 5% CASHBACK per month on business specific spends i.e. Tax payment, internet bill, electricity bill, telephone bill, government concerning payments, hotels, cabs, dining etc.
- Hassel free tax pay via credit card (max. cashback of ₹ 250 per statement on min. spending of ₹ 10,000 monthly, applicable only in 1st year)
- Convert all big spending into EMI after expenditure
- Buy decorative interiors (like furnitures, electronics, ACs and others) for your business with easy EMI options on your Business MoneyBack Credit Cards
- Get pre-approved instant loans & cash withdrawal facility
FUEL SURCHARGE WAIVER
1% fuel surcharge waiver at all fuel pumps across India ( on min. transaction of ₹ 400 & max. transaction of ₹ 5000, you can earn max. cashback of 250 per statement)
OTHER FEATURES
- UTILITY BILL PAYMENTS: Register your HDFC business moneyback credit card with SmartPay, an HDFC utility bill payment service. You can ensure that all your utility bills are paid on time, conveniently, and easily. Earn upto 1800 assured cashback in 1st year & exciting e-vouchers worth upto ₹ 800 for adding two or more bills on SmartPay.
- REVOLVING CREDIT: At nominal interest rate
- ZERO LOST CARD LIABILITY: Unfortunately, if you lose your Credit Card, report within 24 hrs. After reporting you have to pay zero liability for any fraudulent transactions made on your card
- PAY EMIS SMARTLY: After purchase, you can convert your big expenditure into EMI through HDFC Bank Business MoneyBack Credit Card
RENEWAL OFFER
Renewal fee waived off on spending of ₹ 50,000 & more in the previous year
REDEMPTION OF REWARD POINTS/CASHBACK
- RPs collected on your credit card can be redeemed for cashback against statement (min. 2500 reward points must for cardholder). Every 100 reward points will give you ₹ 20
- RPs can be also redeemed for exciting gifts & air miles (reward points that can be redeemed for flights, hotel stays & other travel-related perks ) from an exclusive reward catalogue
- A reward redemption fee of Rs.99 will be applicable for every redemption request
- RPs earned on your Credit Card are valid for two years only from the date of accumulation
BALANCE TRANSFER:
Transfer the outstanding amount to HDFC Business MoneyBack Credit Card and avail the lowest interest rate offered by the existing bank. Balance transfer is applicable for a minimum transfer amount of ₹ 2,500 and a maximum of ₹ 1 lakh.
DINING BENEFITS:
Earn up to 20% savings off on all restaurant bill payments via Swiggy Dineout. Discount offer valid only on payments done by Swiggy App.
CONTACTLESS PAYMENT:
The HDFC Business MoneyBack Credit Card is enabled for contactless payments, facilitating fast, convenient & secure payments at retail outlets
Note: Payment is allowed for a max. of₹ 5,000 for a single transaction where you are not asked to input your Credit Card PIN. However, if the amount is higher than or equal to ₹ 5,000, then Cardholder has to enter the Credit Card PIN for security reason.
ELIGIBILITY:
HDFC Business MoneyBack Credit Card eligibility:
- A Self Employed Indian Citizen aged between 21 – 65 years
- Annual ITR above ₹ 6 lakhs
DOCUMENTS REQUIRED FOR HDFC BUSINESS MONEYBACK CREDIT CARD
ID proof, address proof, PAN card, Income tax returns with computation sheet, and one photograph.
FEES AND CHARGES ON HDFC BUSINESS MONEYBACK CREDIT CARD
| FEES/CHARGES | AMOUNT | |
| Joining Fee | ₹ 500 + applicable taxes | |
| Annual Fee | ₹ 500 + applicable taxes ( waived off on spending of ₹ 50,000 or more in previous year) | |
| Add-on Card Fee | nil | |
| Card Re-Issuance Fee | ₹ 100 | |
| Cash Withdrawal Charges | 2.5% of withdrawn amount or ₹ 500, whichever is higher | |
| Over Limit Charges | 2.5% of over limit amount, subject to minimum of ₹ 500 | |
| Cash Processing Fee | ₹ 100 | |
| Rewards Redemption Fee | ₹ 99 per request | |
| Outstation Cheque Processing Fee | Up to ₹ 50 | |
| Late Payment Fee | FOR STATEMENT BALANCE- | |
| FEE/CHARGE | BALANCE UP TO | |
| Nil | Up to ₹ 100 | |
| ₹ 100 | ₹ 101 – ₹ 500 | |
| ₹ 500 | ₹ 501 – ₹ 1,000 | |
| ₹ 600 | ₹ 1,001 – ₹ 5,000 | |
| ₹ 750 | ₹5,001 – ₹ 10,000 | |
| ₹ 900 | ₹ 10,001 – ₹ 25,000 | |
| ₹ 1,100 | ₹ 25,001 – ₹ 50,000 | |
| ₹ 1,300 | More than ₹ 50,000 | |
FAQs
Can I convert my earned reward points into air miles?
Yes. Airmiles conversion through net banking at a value of 1RP = upto ₹0.25
Where one can use air miles?
Air miles are reward points that can be redeemed for flights, hotel stays & other travel-related perks.
Does HDFC Business Moneyback Credit Card offer reward points on all expenditures?
No. Reloading your wallet and making EMI payments you will not earn reward points. All other retail spends are eligible for rewards.
Can I use the HDFC Business moneyback Credit Card all over the globe?
Yes. It can be used anywhere around the world wherever Visa/MasterCard is accepted. However, a foreign exchange mark-up fee of up to 3.5% will be payable on the payment amount for each such transaction.
What is the foreign exchange mark-up fee on a credit card?
A foreign exchange mark-up fee is a charge levied by credit card companies when you make transactions in a foreign currency. This fee is typically a percentage of the transaction amount, and it’s applied to cover the costs associated with converting currencies.
When I paid the utility bill for my restaurant through HDFC Bank Business moneyback Credit Card, I didn’t get any rewrd/cashback. Why?
To earn 5% cashback on any business essentials, the minimum monthly spends in these categories should be ₹ 10,000. The maximum cashback you can avail in a month is Rs 250. So, if you have already reached this monthly limit, you cannot avail it again on any other or extra payment.
What is the interest-free credit period limit on this card?
Up to 50 days.
Is the HDFC business MoneyBack credit card good or bad?
This card is a good option for self-employed or business persons with 6lakh or above ITR as it has a lot of rewards.
What is the limit of business money back credit card?
The limit will depend on the person’s earnings and credit profile and it is decided by the bank.
Is HDFC MoneyBack credit card has lounge access?
Yes, this credit card offers complimentary lounge access at minimal cost.
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