Paytm HDFC Bank SELECT Business Credit Card

The Paytm HDFC Bank Select Business Credit Card, a collaborative effort between HDFC Bank and Paytm, caters exclusively to Paytm customers involved in frequent transactions on Paytm and Paytm Mall. Tailored for businesses, this card facilitates quick business loans for short durations.

With a joining fee of Rs. 1,000 and an equivalent renewal charge, the Paytm HDFC Bank Select Business Credit Card brings valuable perks. These include 12 complimentary accesses to Domestic Airport Lounges annually, a 1% Fuel Surcharge Waiver, and a Paytm First Membership as a welcome gesture. Additionally, the card supports contactless payments, ensuring swift, hassle-free, and secure transactions at various retail outlets. It also provides benefits such as Personal Accidental Death Cover and Permanent Disability Cover.

Key Highlights of Paytm HDFC Bank SELECT Business Credit Card

  1. Receive 5% cashback on all purchases made through Paytm Mall.
  2. Obtain 1% cashback on all other expenditures.
  3. Earn 3% cashback on purchases related to Travel and monthly bill payments by setting up standing instructions exclusively on the Paytm App.
  4. Avail 12 complimentary accesses to Domestic Airport Lounges nationwide in a calendar year (limited to 3 visits per quarter).
  5. Receive Paytm First Membership as a welcome gift.
  6. Report the loss of the card to the bank’s 24-hour call center with zero cost liability.
  7. Enjoy a 1% fuel surcharge waiver.
  8. Earn a Rs. 500 worth Gift Voucher with 6 transactions within the first 90 days after card activation.

Features and Benefits of Paytm HDFC Bank SELECT Business Credit Card

The Paytm HDFC Bank SELECT Business Credit Card offers several features and benefits:

CashBack Benefits:

1. 5% Cashback on Paytm Purchases:

  • Applicable to Recharge, Utility, Travel, Movies, and Mini App transactions.
  • Maximum Cap per Calendar Month: Rs. 1500

2. 3% Cashback on Accelerated Categories:

  • Valid for Swiggy, AJIO, Big Basket, and Uber transactions.
  • Maximum Cap per Calendar Month: Rs. 500

3. 1% Cashback on Other Retail Transactions:

  • Applicable to all other retail transactions.
  • Maximum Cap per Calendar Month: Rs. 2000

Additional Features:

1. Utility Bill Payments: Register Credit Card with SmartPay for convenient utility bill payments.
2. Zero Cost Liability: Zero liability on fraudulent transactions after reporting card loss.
3. Lounge Access:

  • 12 Complimentary accesses to Domestic Airport Lounges per year.
  • Capped at 3 visits per Quarter.
  • Transaction fee of Rs. 2 for lounge access.

4. Fuel Surcharge Waiver:

  • 1% fuel surcharge waived on transactions (min ₹400, max ₹5,000).
  • Maximum waiver: ₹250 per statement cycle.

5. Welcome Benefit:

  • Paytm First Membership on card activation with a minimum Rs. 100 transaction.
  • Provided by Paytm. Queries to Paytm Customer Care.

6. Activation Benefit:

  • Rs. 500 worth Gift Voucher upon card activation with 4 transactions in the first 30 days.

7. Milestone Benefit:

  • Rs. 1000 worth Gift Voucher on spends of Rs. 2 Lac in a year.
  • Applicable from 1 year of card issuance.
  • Qualified customers will be communicated for availing Gift Vouchers.

8. Contactless Payment:

  • Enabled for fast, convenient, and secure contactless payments at retail outlets.

9. Dining Benefit:

10. Quick Loan for Business:

  • Check for term loan eligibility on your credit card for business purposes.

Paytm HDFC Bank SELECT Business Credit Card Fees and Charges

Explore the fee structure for the Paytm HDFC Bank SELECT Business Credit Card and discover the financial advantages that come with it.

1. Joining Fee: HDFC Bank requires a payment of Rs. 1,000 (plus applicable taxes) as the joining fee for the Paytm HDFC Bank Select Business Credit Card.
2. Annual Fee: An annual fee of Rs. 1,000 (plus applicable taxes) is charged by HDFC Bank for the Paytm HDFC Select Business Credit Card.
3. Interest Rate: In case of non-payment by the due date, an interest rate of 3.6% per month (equivalent to 43.2% annually) is applied to the outstanding amount on the card.
4. Forex Mark-up Fee: For foreign currency transactions with the Paytm HDFC Bank Select Business Credit Card, a fee of 3.5% (plus applicable taxes) is levied on the transaction amount.

Eligibility Criteria for Paytm HDFC Bank SELECT Business Credit Card

Here are essential criteria for applying for an Paytm HDFC Bank SELECT Business Credit Card:

  1. The applicant must be at least 21 years old.
  2. Ownership of a registered business with a consistent income is a prerequisite.
  3. The creditworthiness of the applicant, including both personal and business credit scores, may be taken into account.

Documents Required for Paytm HDFC Bank SELECT Business Credit Card

To apply for the Paytm HDFC Bank SELECT Business Credit Card, you will typically need to provide the following documents:

1. Identity Proof:

  • Options include Aadhar Card, PAN Card, Passport, Voters’ ID, Driving License, etc.
  • Select any one of these for verification.

2. Address Proof:

  • Choices include Aadhar Card, latest month’s utility bills, Voters’ ID, Passport, etc.
  • Choose any one of these as proof of your current residence.

3. Proof of Income:

  • Provide either the latest bank statements or the latest Income Tax Return (ITR).
  • Additionally, other documents such as a passport-sized photograph may be required.

How To Apply for Paytm HDFC Bank SELECT Business Credit Card?

Follow these steps to apply for the Paytm HDFC Bank SELECT Business Credit Card:

  1. Go to the official HDFC Bank website.
  2. Navigate to the ‘Borrow’ section and choose ‘Credit Cards.’
  3. Within the ‘Credit Cards’ options, locate the ‘Business Credit Cards’ category.
  4. Select the ‘Paytm HDFC Bank Select Business Credit Card.’
  5. Click on ‘Apply Now’ to initiate the application process.
  6. Complete the application by providing all the necessary details.

Frequently Asked Questions (FAQs) –

  1. What is the joining fee for the Paytm HDFC Bank SELECT Business Credit Card?
    The joining fee for the Paytm HDFC Bank SELECT Business Credit Card is Rs. 1,000, plus applicable taxes.
  2. Is there an annual fee associated with the Paytm HDFC Bank SELECT Business Credit Card?
    Yes, there is an annual fee of Rs. 1,000, plus applicable taxes, for the Paytm HDFC Bank SELECT Business Credit Card.
  3. What is the interest rate charged on outstanding amounts for this credit card?
    The interest rate is 3.6% per month, which is equivalent to 43.2% annually, applicable if the cardholder fails to clear all dues by the payment due date.
  4. Are there any additional charges for foreign currency transactions with this credit card?
    Yes, a foreign currency mark-up fee of 3.5%, plus applicable taxes, is charged on all foreign currency transactions made with the Paytm HDFC Bank SELECT Business Credit Card.
  5. How can I pay the joining and annual fees for the credit card?
    You can make the payment for joining and annual fees through various channels, including online banking, mobile banking, or by visiting an HDFC Bank branch.
  6. Is there a grace period for the payment of the annual fee?
    Specific details regarding the grace period for the annual fee can be found in the terms and conditions of the credit card. It’s recommended to review the cardholder agreement for accurate information.
  7. Can I get a waiver for the joining or annual fee?
    Waiver policies may vary, and eligibility criteria could apply. Contact HDFC Bank’s customer service or refer to the terms and conditions to understand if you qualify for any fee waivers.
  8. What are the benefits of the Paytm HDFC Bank SELECT Business Credit Card?
    Benefits may include cashback, reward points, travel perks, and other privileges. Check the card’s features and rewards program to understand the advantages offered.
  9. How can I apply for the Paytm HDFC Bank SELECT Business Credit Card?
    You can apply online through the HDFC Bank website or visit a nearby branch for assistance. Ensure you meet the eligibility criteria and have the necessary documentation.
  10. How can I track my credit card transactions and statements?
    You can conveniently monitor your credit card transactions and access statements through the HDFC Bank online banking portal or mobile app. This provides a real-time overview of your card activity.