AU Business Cashback RuPay Credit Card – Benefits, Fees & Eligibility

AU Business Cashback RuPay Credit Card

Introduction

The AU Business Cashback RuPay Credit Card, launched by AU Small Finance Bank in partnership with RuPay, is designed specifically for self-employed individuals and Micro, Small, and Medium Enterprises (MSMEs). This card aims to streamline daily business processes and provide essential cash flow, enabling businesses to manage recurring monthly obligations and urgent expenses effortlessly. While primarily for business spends, it also offers various cashback, travel, and lifestyle privileges, making it a valuable tool for growth and financial management, all while earning cashbacks.

Fees

• Joining Fee: INR 99 per month + applicable charges/GST.
• Renewal Fee: Nil (though a monthly membership fee applies).
• Spend-Based Waiver: The monthly membership fee can be waived upon retail spends of INR 10,000 or more within a statement cycle.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.49% on all foreign transactions.
• Interest Rates: 3.59% per month (43.08% per annum).
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between INR 400 to INR 5,000 across all fuel stations in the country. The maximum waiver is capped at INR 200 per statement cycle.
• Cash Advance Charges: 2.5% of the amount withdrawn or a minimum of INR 100, whichever is higher.

Rewards

Cashback

• Earn 1% cashback on the repayment of the Total Amount Due on your credit card bill.
• Maximum cashback per statement cycle is INR 1,000.
• E-Wallet reloads/spends, rent payments, insurance premium purchases, fuel purchases, and cash transactions are not considered for this cashback benefit.

Dining

• Silver Spoon Dining Program: Enjoy up to 30% discount on dining at over 300 partnered restaurants across 30 cities in India.

Travel

• Railway Lounge Access: Get 8 complimentary railway lounge access visits per annum, with a maximum of 2 visits per calendar quarter, using your VISA/RuPay Card at railway stations.
• Add-on cardholders can also enjoy these complimentary railway lounge benefits within the mentioned number of visits.
• No complimentary domestic or international airport lounge access is provided with this card.

Insurance

• Business Insurance Coverage:
  • Cash in Counter: INR 25,000
  • Cash in Transit & Public Liability: INR 1.5 Lakhs each
  • Fire Insurance Burglary & Housebreaking: INR 2 Lakhs each
• Air Accident Insurance: Cover worth INR 50 Lakhs.
• Travel-Related Insurance: Cover worth up to INR 50,000 for baggage loss, flight delays, baggage delays, plane hijack, loss of passport, and other travel documents.
• To claim any insurance benefits, contact Customer Care at 1800-120-130-130 or write to claims@aubank.in.

Lifestyle

• XpressEMI: Convert your transactions worth INR 2,000 or more into easy EMI options for a tenure of your choice. This can be booked by calling Customer Care or online.
• Contactless Card Usage: Make quick, secure, and easy payments by tapping your card at participating merchants for amounts up to INR 5,000 without needing to enter your Credit Card PIN.
• Add-on Cards: Offer the benefits of your Business Cashback Credit Card to your loved ones through complimentary Add-on cards, which are free for lifetime.

Rewards Redemption Guide

• The cashback earned is automatically credited to the cardholder’s account.

Card Eligibility Criteria

• Age: Primary cardholder must be between 21 years and 65 years. Add-on cardholders should be over 18 years.
• Residency: Applicant must be a Resident Indian.
• Income & Credit Score: Applicant must have a stable income source and a decent credit score.
• Note: These criteria are indicative; AU Small Finance Bank reserves the right to approve or decline applications.
• Documents Required: Necessary documents must be uploaded during the application process.

Card Review

The AU Business Cashback RuPay Credit Card is an excellent choice for self-employed individuals and MSMEs looking to streamline their business finances. It offers a straightforward 1% cashback on total amount due repayment, coupled with significant business insurance coverage, including cash in counter, transit, public liability, fire, burglary, and housebreaking, which are crucial for small businesses. The complimentary railway lounge access and dining discounts add value, while the instant loan and XpressEMI facilities provide crucial liquidity and flexibility. The monthly fee of INR 99 is nominal and can be easily waived by spending INR 10,000 in a statement cycle, making it highly accessible. However, it's important to note the exclusions for cashback on certain spend categories like wallet reloads, rent, insurance, fuel, and cash transactions. Overall, this card is well-suited for business owners who primarily use their card for operational expenses and appreciate a blend of financial flexibility and protective benefits.

Important Product Details

• 1% cashback on repayment of Total Amount Due on credit card bills, capped at INR 1,000 per statement cycle.
• Instant loan facility available on the credit card (eligible after 90 days of card issuance).
• 1% fuel surcharge waiver on transactions between INR 400 to INR 5,000, with a maximum benefit of INR 200 per month.
• Up to 30% discount at over 300 partner restaurants with the Silver Spoon Dining program.
• 8 complimentary railway lounge accesses per year, with a maximum of 2 per quarter.
• Transactions worth INR 2,000 or above can be easily converted to EMIs (XpressEMI).
• Business insurance coverage including Cash in Counter (INR 25,000), Cash in Transit and Public Liability (INR 1.5 Lakhs each), and Fire, Burglary, and Housebreaking insurance (INR 2 Lakhs each).
• Air accident insurance cover worth INR 50 Lakhs.
• Travel-related insurance cover up to INR 50,000.
• Contactless payment feature for transactions up to INR 5,000 without PIN.
• Add-on cards are provided free for lifetime.
• Monthly card fee of INR 99 + applicable charges, which can be waived on spending INR 10,000 or more in the statement cycle.
• Exclusions for cashback include e-wallet spends/reloads, rent payments, insurance, fuel, and cash transactions.
• Charges a foreign currency markup of 3.49%.
• Interest rate of 3.59% per month (43.08% per annum).
• Cash advance charges of 2.5% or minimum INR 100, whichever is higher.

Other Details

• Customer Service: For priority assistance, mail queries to creditcard.support@aubank.in.