IndusInd Bank Platinum RuPay Credit Card: Looking for a credit card that offers a variety of rewards and benefits? Look no further than the IndusInd Bank Platinum RuPay Credit Card! – IndusInd Bank First UPI Credit Card Launched know the complete information in this article.
IndusInd Bank First UPI Credit Card Launched – IndusInd Bank Platinum RuPay Credit Card Overview
IndusInd Bank, one of the leading private sector banks in India, has recently launched its first credit card that supports Unified Payments Interface (UPI) transactions.
The card, named IndusInd Bank Platinum RuPay Credit Card, is issued in collaboration with the National Payments Corporation of India (NPCI), the umbrella organization for operating retail payments and settlement systems in India.
The card offers a host of features and benefits to the customers, such as rewards, insurance, fuel surcharge waiver, and more.
In this article, we will provide an overview of the IndusInd Bank Platinum RuPay Credit Card and its various aspects, such as features, benefits, fees, charges, and FAQs.
IndusInd Bank Platinum RuPay Credit Card Features & Benefits
The IndusInd Bank Platinum RuPay Credit Card is a unique product that combines the convenience and security of UPI transactions with the flexibility and rewards of credit card transactions.
The card allows customers to make payments to merchants via the RuPay network and UPI-enabled apps, such as Google Pay, PhonePe, Paytm, etc.
The card also enables the customers to enjoy the following features and benefits:
- Rewards: The card offers reward points for every transaction made via the card, whether it is UPI or non-UPI. The reward points can be redeemed for statement credit, which can be used to pay the outstanding balance on the card. The card also offers bonus reward points for spending on certain merchant categories, such as dining, entertainment, travel, etc.
- Insurance: The card provides comprehensive travel insurance coverage to the customers, which includes accidental death, permanent disability, medical expenses, baggage loss, flight delay, etc. The insurance coverage is valid for both domestic and international trips, subject to certain terms and conditions.
- Fuel Surcharge Waiver: The card offers a fuel surcharge waiver of 1% on fuel transactions made at any petrol pump in India, up to a maximum of Rs. 250 per month. The fuel surcharge waiver is applicable for transactions between Rs. 400 and Rs. 4,000.
Additional Benefits: The card also offers some additional benefits to the customers, such as complimentary lounge access at select airports in India, concierge service, priority pass membership, etc.
IndusInd Bank Platinum RuPay Card UPI Benefits
The IndusInd Bank Platinum RuPay Credit Card is the first credit card in India that supports UPI transactions. UPI is a fast, easy, and secure way of making payments to merchants and individuals using a virtual payment address (VPA) or a QR code.
The card allows the customers to link their card to any UPI app of their choice and make payments using their VPA or QR code. The card also offers the following benefits for UPI transactions:
- No Additional Charges: The card does not charge any additional fees or charges for UPI transactions, unlike some other payment modes that may levy convenience fees, service charges, etc.
- Real-Time Confirmation: The card provides real-time confirmation of UPI transactions, which reduces the chances of payment failures, disputes, or fraud.
- Wide Acceptance: The card can be used to make payments to any merchant or individual who accepts UPI as a payment mode, which covers a large number of online and offline merchants across various sectors and categories.
- Rewards: The card offers reward points for every UPI transaction made via the card, which can be redeemed for statement credit. The card also offers bonus reward points for UPI transactions made on certain merchant categories, such as e-commerce, bill payments, recharges, etc.
IndusInd Platinum Card UPI Payment Benefits
The IndusInd Bank Platinum RuPay Credit Card offers a convenient and rewarding way of making payments via UPI.
The card allows the customers to enjoy the following benefits for UPI payments:
- Flexibility: The card gives the customers the flexibility to choose the UPI app of their preference and link their card to it. Customers can also switch between different UPI apps as per their convenience and preference.
- Security: The card ensures the security of UPI payments by requiring the customers to enter their UPI PIN for every transaction. The UPI PIN is a four or six-digit personal identification number that is set by the customers while linking their card to the UPI app. The UPI PIN acts as a second-factor authentication for UPI transactions and prevents unauthorized access or misuse of the card.
- Credit Limit: The card allows customers to use their credit limit for UPI payments, which can help them manage their cash flow and budget better. The customers can also avail the benefit of an interest-free credit period of up to 50 days for UPI transactions, subject to the payment of the total outstanding amount by the due date.
- Rewards: The card offers reward points for every UPI payment made via the card, which can be redeemed for statement credit. The card also offers bonus reward points for UPI payments made on certain merchant categories, such as e-commerce, bill payments, recharges, etc.
IndusInd Platinum Card Insurance Benefits
The IndusInd Bank Platinum RuPay Credit Card provides comprehensive travel insurance coverage to customers, which includes accidental death, permanent disability, medical expenses, baggage loss, flight delay, etc.
The insurance coverage is valid for both domestic and international trips, subject to certain terms and conditions.
The card offers the following benefits for travel insurance:
- Accidental Death: The card provides a cover of up to Rs. 25 lakh for accidental death of the cardholder while traveling by air, rail, or road. The cover is valid for both domestic and international trips, subject to the booking of the ticket using the card.
- Permanent Disability: The card provides a cover of up to Rs. 25 lakh for permanent disability of the cardholder due to an accident while traveling by air, rail, or road. The cover is valid for both domestic and international trips, subject to the booking of the ticket using the card.
- Medical Expenses: The card provides a cover of up to Rs. 5 lakh for medical expenses incurred by the cardholder due to an illness or injury while traveling abroad. The cover is valid for trips up to 45 days, subject to the booking of the ticket using the card.
- Baggage Loss: The card provides a cover of up to Rs. 1 lakh for loss of checked-in baggage while traveling by air. The cover is valid for both domestic and international trips, subject to the booking of the ticket using the card.
- Flight Delay: The card provides a cover of up to Rs. 25,000 for flight delays of more than 12 hours while traveling by air. The cover is valid for both domestic and international trips, subject to the booking of the ticket using the card.
IndusInd Platinum Card Fuel Benefits
The IndusInd Bank Platinum RuPay Credit Card offers a fuel surcharge waiver of 1% on fuel transactions made at any petrol pump in India, up to a maximum of Rs. 250 per month.
The fuel surcharge waiver is applicable for transactions between Rs. 400 and Rs. 4,000. The card also offers reward points for fuel transactions, which can be redeemed for statement credit.
The card offers the following benefits for fuel transactions:
- Savings: The card helps the customers save on the fuel surcharge, which is usually levied by the petrol pump or the bank for fuel transactions. The fuel surcharge waiver can help customers save up to Rs. 3,000 per year on fuel expenses.
- Convenience: The card allows customers to make fuel payments using UPI or non-UPI modes, as per their preference and convenience. The customers can also enjoy the benefit of an interest-free credit period of up to 50 days for fuel transactions, subject to the payment of the total outstanding amount by the due date.
- Rewards: The card offers reward points for every fuel transaction made via the card, which can be redeemed for statement credit. The card also offers bonus reward points for fuel transactions made on certain petrol pumps, such as Indian Oil, Bharat Petroleum, etc.
IndusInd Platinum Card Additional Benefits
The IndusInd Bank Platinum RuPay Credit Card also offers some additional benefits to customers, such as complimentary lounge access at select airports in India, concierge service, priority pass membership, etc.
The card offers the following benefits for additional features:
- Lounge Access: The card provides complimentary lounge access to the cardholder and one guest at select domestic airports in India, up to four times per quarter. The lounge access is valid for both UPI and non-UPI transactions, subject to a minimum spend of Rs. 3,000 per transaction. The lounge access is subject to availability and terms and conditions of the lounge operator.
- Concierge Service: The card offers a 24×7 concierge service to the cardholder, which can assist with various travel and lifestyle needs, such as flight booking, hotel reservation, car rental, restaurant booking, gift delivery, etc. The concierge service is complimentary and can be accessed by calling the toll-free number 1800-103-0011.
- Priority Pass Membership: The card provides a complimentary priority pass membership to the cardholder, which allows access to over 1,300 airport lounges across the world.
IndusInd Bank Platinum RuPay Credit Card Reward Benefits
The IndusInd Bank Platinum RuPay Credit Card offers a range of reward benefits to customers, which can help them save money and earn points for every transaction made via the card.
The card offers the following reward benefits:
- Reward Points: The card offers reward points for every transaction made via the card, whether it is UPI or non-UPI. The reward points can be redeemed for statement credit, which can be used to pay the outstanding balance on the card. The card also offers bonus reward points for spending on certain merchant categories, such as dining, entertainment, travel, etc.
- Reward Redemption Benefits: The card allows the customers to redeem their reward points for a variety of options, such as statement credit, air miles, hotel stays, gift vouchers, etc. The redemption process is simple and can be done online or offline, subject to certain terms and conditions.
IndusInd Platinum Card Reward Redemption Benefits
The IndusInd Bank Platinum RuPay Credit Card offers a variety of reward redemption benefits to customers, which can help them maximize the value of their reward points.
The card allows the customers to redeem their reward points for the following options:
- Statement Credit: The customers can redeem their reward points for statement credit, which can be used to pay the outstanding balance on the card. The redemption rate for statement credit is 1 reward point = Re. 0.50.
- Air Miles: The customers can redeem their reward points for air miles, which can be used to book flight tickets or upgrade their existing bookings. The redemption rate for air miles is 1 reward point = 0.75 air miles.
- Hotel Stays: The customers can redeem their reward points for hotel stays, which can be used to book rooms at select hotels across India. The redemption rate for hotel stays is 1 reward point = Re. 0.50.
- Gift Vouchers: The customers can redeem their reward points for gift vouchers, which can be used to shop at select retail outlets across India. The redemption rate for gift vouchers is 1 reward point = Re. 0.50.
IndusInd Bank Platinum RuPay Credit Card Fees & Charges
The IndusInd Bank Platinum RuPay Credit Card comes with a range of fees and charges, which are as follows:
- Joining Fee: The card has a joining fee of Rs. 499, which is a one-time fee charged at the time of card issuance.
- Annual Fee: The card has an annual fee of Rs. 499, which is charged annually from the second year onwards.
- Interest Rate: The card has an interest rate of 3.83% per month or 46% per annum, which is applicable to the outstanding balance on the card.
- Late Payment Fee: The card charges a late payment fee of Rs. 100 to Rs. 700, depending on the outstanding balance on the card.
- Over-Limit Fee: The card charges an over-limit fee of 2.5% of the over-limit amount, subject to a minimum of Rs. 500.
- Cash Advance Fee: The card charges a cash advance fee of 2.5% of the cash advance amount, subject to a minimum of Rs. 300.
- Foreign Currency Markup Fee: The card charges a foreign currency markup fee of 3.5% on all foreign currency transactions made via the card.
How to Apply IndusInd Bank Platinum RuPay Credit Card
The IndusInd Bank Platinum RuPay Credit Card is a new credit card that offers rewards for online and offline transactions through the RuPay network and UPI-enabled apps.
To apply for this credit card, you can follow these simple steps:
- Visit the IndusInd Bank website and click on the “Apply Now” button on the Platinum RuPay Credit Card page.
- Enter your personal details, such as name, mobile number, email address, city, and income.
- Verify the required documents, such as identity proof, address proof, and income proof.
- Submit the application form and wait for the bank to verify your eligibility and credit score.
- If approved, you will receive a confirmation message and the credit card will be delivered to your address within 7-10 working days.
FAQs:
What are the rewards for UPI transactions with the IndusInd Platinum RuPay Card?
You can earn 2 Reward Points for every ₹100 spent on UPI transactions with the IndusInd Platinum RuPay Card.
Are there rewards for non-UPI transactions on the Platinum RuPay Credit Card?
Yes, you can earn 1 Reward Point for every ₹100 spent on non-UPI transactions with the Platinum RuPay Credit Card. You can also earn ₹0.70 for every ₹100 spent on select merchant categories, such as groceries, dining, and travel.
Is there a reward benefit for spending on certain merchant categories?
Yes, you can earn additional rewards for spending on certain merchant categories with the Platinum RuPay Credit Card. For example, you can earn 5 Reward Points for every ₹100 spent on travel-related expenses and 2 Reward Points for every ₹100 spent on dining and grocery expenses.
Will I earn Reward Points on fuel transactions with this credit card?
No, you will not earn Reward Points on fuel transactions with the Platinum RuPay Credit Card.
Is there a limit to the Reward Points I can earn in a statement cycle?
Yes, there is a limit of 20,000 Reward Points that you can earn in a statement cycle.
What is the process for linking the Platinum RuPay Credit Card to a UPI app?
A: To link the Platinum RuPay Credit Card to a UPI app, follow these steps:
- Open your UPI app and go to the “Bank Accounts” section.
- Click on the “Add Bank Account” option.
- Select “RuPay” from the list of banks.
- Enter your Platinum RuPay Credit Card number and expiry date.
- Enter the OTP that you receive on your registered mobile number.
- Click on the “Submit” button.
What are the fuel surcharge benefits with the IndusInd Bank Platinum RuPay Credit Card?
The IndusInd Bank Platinum RuPay Credit Card offers a fuel surcharge waiver of 1% on all fuel transactions between ₹400 and ₹4,000.
Conclusion
The IndusInd Bank Platinum RuPay Credit Card is a good option for consumers who are looking for a credit card with a generous rewards program, no annual fees, and a variety of insurance benefits.
The card is especially well-suited for digitally savvy consumers who prefer UPI transactions.
If you are looking for a credit card that offers a good combination of rewards, value, and benefits, the IndusInd Bank Platinum RuPay Credit Card is a good option to consider.