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Features of IndusInd Bank Platinum RuPay Credit Card
- Overview of the Card: The IndusInd Bank Platinum RuPay Credit Card is an entry-level, lifetime-free credit card launched on the RuPay network. It is designed to offer convenience, rewards, and security for everyday transactions, especially through UPI, making it ideal for digital-first users.
- UPI Integration: The card’s standout feature is its seamless integration with UPI apps such as BHIM, Google Pay, PhonePe, and Paytm. Cardholders can link the card to their preferred UPI app, enabling quick and secure transactions via QR codes or UPI IDs. This feature eliminates the need to carry a physical card.
- Contactless Payment Technology: Equipped with EMV chip-based contactless technology, the card allows tap-and-pay transactions at merchants with RuPay-enabled terminals. Contactless payments are capped at ₹5,000 per transaction in India, ensuring fast and secure purchases for daily expenses like groceries or dining.
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Reward Points Program:
The card offers a structured reward points system:
- 2 reward points per ₹100 spent on UPI transactions.
- 1 reward point per ₹100 spent on non-UPI transactions. - 0.70 reward points per ₹100 on select merchant categories (e.g., utilities, insurance, government services, education).
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- Fuel Surcharge Waiver:The card provides a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 at petrol pumps across India, capped at ₹40 monthly or ₹480 annually. This feature ensures modest savings for cardholders who frequently refuel.
- Comprehensive Insurance Coverage: The card includes complimentary insurance benefits under the Total Protect program, covering: Unauthorized transactions: Protection up to the credit limit for up to 48 hours before reporting a lost or stolen card. Personal air accident insurance: Coverage up to ₹25 lakh. Lost baggage: Coverage up to ₹1 lakh. Delayed baggage: Coverage up to ₹25,000. Loss of passport: Coverage up to ₹50,000. Lost ticket: Coverage up to ₹25,000. Missed connection: Coverage up to ₹25,000. These benefits provide financial security for travelers and daily users.
- Lifetime Free:The card is lifetime free, with no joining or annual fees, making it an attractive option for first-time cardholders or those seeking cost-effective credit solutions without recurring charges.
- Reward Redemption Options: Reward points can be redeemed via the IndusMoments portal for: Cash credit: 1 reward point = ₹0.40. Non-cash redemptions (e.g., vouchers, merchandise): 1 reward point = ₹0.60 (effective from 15th December 2024). Air miles: Convertible to programs like InterMiles or KrisFlyer at a 4:1 ratio. The maximum cash redemption is capped at 2,500 points per calendar month, ensuring controlled but flexible redemption.
- Global Acceptance: The card is accepted at over 10 lakh merchant outlets in India and 39.3 million outlets worldwide via RuPay’s network, supporting online, POS, and ATM transactions. This ensures versatility for domestic and international use.
- Fraud Protection: The Total Protect program safeguards against counterfeit fraud and unauthorized transactions, with coverage extending to online fraud, enhancing security for digital transactions.
- Transaction Monitoring: Cardholders can monitor transactions through IndusNet (net banking) or the IndusMobile app, offering real-time updates on spending, reward points, and billing statements for efficient financial management.
- Interest-Free Credit Period:The card offers an interest-free credit period of up to 50 days, allowing purchases to be made without interest if the outstanding balance is paid by the due date, supporting cash flow management.
- EMI Conversion Option: High-value transactions or outstanding balances can be converted into EMIs with flexible tenures at competitive interest rates, making it easier to manage large purchases like electronics or travel expenses.
- Add-On Card Facility:The card allows up to 5 add-on cards for family members, sharing the same credit limit and benefits as the primary card, ideal for household expense management.
- Digital Payment Security: UPI transactions are secured with two-factor authentication, biometric verification, and UPI PIN, ensuring robust protection against unauthorized usage.
- Flexible Credit Limit:The credit limit is determined based on the applicant’s income, credit score, and repayment history, typically ranging from ₹50,000 to ₹2 lakh for entry-level users, with options to request an increase after consistent usage.
- Cash Withdrawal Facility:The card supports cash withdrawals at ATMs, with a 2.5% fee (minimum ₹300) and finance charges of 24% per annum from the withdrawal date, providing emergency cash access.
- Billing Cycle Flexibility: Cardholders receive monthly statements via email or the IndusMobile app, with a minimum repayment amount of 5% of the total due, offering flexibility in managing payments.
- RuPay Network Benefits:As a RuPay card, it supports India’s domestic payment network, ensuring cost-effective transactions and alignment with national financial initiatives like Digital India.
- Mobile App Integration: The IndusMobile app allows cardholders to manage their account, pay bills, redeem points, and set transaction alerts, enhancing convenience for tech-savvy users.
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- Fuel Surcharge Savings: The 1% fuel surcharge waiver (₹400–₹4,000 transactions, capped at ₹40 monthly) saves up to ₹480 annually, offering modest but consistent savings for vehicle owners.
- Travel Insurance Protection: The comprehensive insurance coverage includes ₹25 lakh air accident insurance, ₹1 lakh for lost baggage, and other travel-related protections, providing peace of mind for occasional travelers.
- Flexible Reward Redemption: The never-expiring reward points can be redeemed for cash credit, vouchers, or air miles, offering flexibility to suit diverse preferences.
- Fraud and Loss Protection: The Total Protect program covers unauthorized transactions and counterfeit fraud, ensuring financial security for online and offline purchases, particularly for UPI transactions.
- Global Usability: Accepted at 39.3 million outlets worldwide, the card supports international travel and shopping, with RuPay’s growing global network ensuring cost-effective transactions.
- Interest-Free Period: The up to 50-day interest-free period allows cardholders to manage cash flow effectively, making purchases without interest if repaid on time.
- EMI Conversion Flexibility: The EMI conversion option enables cardholders to spread the cost of large purchases over affordable tenures, reducing financial strain for high-value transactions.
- Add-On Card Convenience: Up to 5 add-on cards allow family members to share the credit limit and benefits, simplifying household expense management with unified billing.
- Digital Payment Convenience: Linking the card to UPI apps like BHIM, Google Pay, or PhonePe enables seamless, secure transactions via mobile, ideal for quick payments at small merchants or online platforms.
- Enhanced Security: UPI transactions are protected with two-factor authentication, biometric verification, and UPI PIN, while the EMV chip ensures secure contactless payments, minimizing fraud risks.
- Transaction Monitoring: Real-time tracking via IndusNet and IndusMobile provides transparency, allowing cardholders to monitor spending, check reward points, and manage bills efficiently.
- No Over-Limit Penalty: The card charges a 2.5% over-limit penalty (minimum ₹500) but allows flexibility for occasional overspending, with no additional fees for responsible usage.
- Cash Withdrawal Access: The cash withdrawal facility provides emergency funds, with a 2.5% fee and 24% annual interest, offering a fallback option despite associated costs.
- Support for Digital India: As a RuPay card, it supports India’s domestic payment network, aligning with national initiatives for financial inclusion and cost-effective transactions.
- Easy Bill Payments: The card supports bill payments via IndusMobile, NEFT, or auto-debit, ensuring timely payments and avoiding late payment fees of ₹100–₹1,300 based on the outstanding amount.
- Accessibility for Beginners: Designed for first-time cardholders, the card’s low eligibility threshold and lifetime-free status make it an ideal entry point for building credit history.
