AU Bank InstaPay Credit Card – Benefits, Fees & Eligibility

AU Bank InstaPay Credit Card

Introduction

The AU Bank InstaPay Credit Card is a virtual, lifetime-free RuPay credit card designed for seamless UPI transactions. It allows cardholders to make payments directly from their smartphone via QR codes, eliminating the need to physically carry the card. This card is ideal for individuals looking to start their credit card journey or for existing cardholders who frequently use UPI and wish to earn instant cashback on their daily spends. It offers 1% cashback on specific UPI transaction categories without any joining or annual fees.

Welcome Benefits

• N/A

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: N/A
• Rewards Redemption Fee: N/A
• Foreign Currency Markup: 3.49% of the transaction amount
• Interest Rates: 3.59% per month (43.08% annually)
• Fuel Surcharge: 1% fuel surcharge waiver for fuel transactions between INR 400 and INR 5,000, across all fuel stations in the country (Maximum INR 100 per statement cycle).
• Cash Advance Charges: N/A
• Late Payment Charges:
  • Less Than Rs. 100: Nil
  • More Than Rs. 100 Up To Rs. 500: Rs. 100
  • More Than Rs. 500 Up To Rs. 5,000: Rs. 500
  • More Than Rs. 5,000 Up To Rs. 10,000: Rs. 700
  • More Than Rs. 10,000 Up To Rs. 20,000: Rs. 800
  • More Than Rs. 20,000 Up To Rs. 50,000: Rs. 900
  • Above Rs. 50,000: Rs. 1,100

Rewards

• Cashback Feature: Earn 1% cashback on UPI transactions across Departmental Stores, Dining, Pharmacy, and Grocery & Supermarkets.
  • Maximum cashback: INR 100 per statement cycle.
  • Minimum transaction amount: Greater than or equal to INR 200.
• Interest Free Period: Enjoy up to 48 days of interest-free breathing space with every AU InstaPay transaction.
• Fuel Surcharge Waiver: Receive a 1% fuel surcharge waiver on fuel transactions made between INR 400 and INR 5,000, with a maximum waiver of INR 100 per statement cycle.
• Scan and Pay: Seamlessly scan any merchant’s QR code and pay instantly using your preferred UPI application.
• Movies & Dining: 1% cashback on UPI spends made on dining.
• Travel: N/A
• Domestic Lounge Access: N/A
• International Lounge Access: N/A
• Golf: N/A
• Insurance Benefits: N/A

Rewards Redemption Guide

• Cashback is credited directly to your credit statement/account.

Card Eligibility Criteria

• Exclusively available to existing Credit cardholders at AU Small Finance Bank.
• Currently applicable for a select base only.
• Must be an Indian citizen.
• Minimum age of 21 years.
• A good/decent credit score is required.
• Should have a stable source of income.

Card Review

The AU Bank InstaPay Credit Card is an excellent entry-level credit card, particularly for those new to credit cards or individuals who frequently use UPI. Being a lifetime free card, it incurs no joining or annual fees, making it a cost-effective option. Its primary allure is its virtual nature, allowing for fast, secure, and convenient UPI transactions directly from a smartphone, eliminating the need for a physical card. While the 1% cashback on UPI spends in specific categories (dining, supermarkets, departmental stores, groceries, pharmacies) might be considered modest compared to other cards, it provides consistent savings on everyday transactions. This card is highly beneficial for users who integrate UPI into their daily spending habits across various merchants.

Important Product Details

• Lifetime free credit card, with no joining or annual charges.
• Facilitates seamless UPI transactions.
• It is a virtual credit card, offering significant convenience.
• Provides an interest-free period of up to 48 days.
• Offers 1% cashback on eligible UPI spends.
• Pros:
  • No joining or annual charges as it is a lifetime free credit card.
  • As a virtual credit card, it offers high convenience to users.
  • Get cashback on UPI spends.
• Cons:
  • Primarily useful only for UPI transactions.
  • Does not provide any welcome benefits.
  • Lounge access (domestic or international) is not included.
  • The 1% cashback rate may be considered low by some users compared to other cards.

Other Details

• Best Suited For: Shopping
• Reward Type: Cashback
• Customer Care:
  • Toll-Free Number: 1800 1200 1500 (24/7)
  • Email: creditcard.support@aubank.in