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

Introduction

The AU Business Cashback RuPay Credit Card, launched by AU Small Finance Bank in partnership with RuPay, is specifically designed to cater to the financial needs of self-employed individuals and Micro, Small, and Medium Enterprises (MSMEs). Positioned as a specialized business credit card, it aims to streamline business processes and provide essential cash flow. Key differentiating benefits include a 1% cashback on Total Amount Due repayment, instant loan facilities for business needs, and comprehensive business insurance coverage.

Welcome Benefits

• N/A (No specific welcome benefits like vouchers or bonus rewards are mentioned beyond the ongoing cashback program).

Fees

• Joining Fee: ₹99 + GST per month (monthly membership fee).
• Annual Fee: Nil (as a separate annual fee, but a monthly membership fee applies).
• Spend-Based Waiver: The monthly membership fee of ₹99 can be waived off on spending ₹10,000 or more in the statement cycle on retail spends. E-Wallet spends or reloads, cash withdrawals, rent payments, and fuel spends are not considered towards the milestone spend for waiver.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on all foreign transactions.
• Interest Rates: 3.75% per month (45% per annum). (Also mentioned as 3.59% per month and 43.08% annually in some sections).
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between ₹400 to ₹5,000 at all fuel stations across the country, with a maximum benefit of ₹200 per month/statement cycle.
• Cash Advance Charges: 2.5% of the amount withdrawn or a minimum of ₹100, whichever is higher.
• XpressEMI Processing Fee: 1% of the amount being converted to EMI, subject to a minimum of ₹99 + GST.

Rewards

• Cashback:
  • Earn 1% cashback on the repayment of the Total Amount Due on your credit card bill.
  • Maximum cashback is capped at ₹1,000 per statement cycle.
  • Exclusions for Cashback: E-Wallet spends and reloads, rent payments, fuel purchases, insurance premium purchases, and cash withdrawals are not eligible for cashback.
• Dining: Up to 30% off at over 300 partner restaurants across the country with the Silver Spoon Dining program.
• Travel (Lounge Access):
  • 8 complimentary railway lounge access per year, with a maximum of 2 visits per quarter, at select railway lounges.
  • Add-on cardholders can also enjoy complimentary railway lounge access benefits.
• Insurance Benefits:
  • Business Insurance Coverage:
    • Cash in Counter cover worth ₹25,000.
    • Public Liability cover worth ₹1.5 Lakhs.
    • Cash-in Transit cover worth ₹1.5 Lakhs.
    • Fire, Burglary, and Housebreaking insurance cover worth ₹2 Lakhs each.
  • Air Accident Cover: Worth ₹50 Lakhs.
  • Travel-Related Insurance Cover: Up to ₹50,000 for baggage loss, delay in flight, baggage delay, plane hijack, loss of passport, and other travel documents.
• Instant Loan: Self-employed individuals and small businesses can take instant loans on their credit card to fulfill business needs. This benefit is available only after 90 days of getting the credit card issued.
• XpressEMI: Easily convert transactions worth ₹2,000 or above into easy EMIs for your select tenure.
• Contactless Payments: Make secure and quick payments up to ₹5,000 without entering your PIN by tapping your card or mobile phone with a digitally added card against a POS machine.

Rewards Redemption Guide

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

Card Eligibility Criteria

• Age:
  • Primary cardholder must be between 21 to 65 years of age.
  • Add-on cardholder should be over 18 years of age.
• Residency: The applicant must be a resident of India.
• Income & Credit Score: The applicant must have a stable income source and a decent credit score.
• Note: These criteria are indicative, and AU Small Finance Bank reserves the right to approve or decline applications.

Card Review

The AU Business Cashback RuPay Credit Card is an excellent choice for self-employed individuals and MSMEs looking to streamline their business expenses and gain financial flexibility. Its core strength lies in the 1% cashback on Total Amount Due repayment, which, while not applicable to all spends, provides a tangible saving on managing credit card bills. The instant loan facility is a significant advantage for urgent business needs, though it comes with a 90-day waiting period. The comprehensive business insurance coverage, including fire, burglary, and public liability, adds a crucial layer of security for small businesses.

Pros:

• Tailored for business expenses of self-employed individuals and MSMEs.
• 1% cashback on Total Amount Due repayment (up to ₹1,000 per cycle).
• Instant loan facility available for business requirements.
• Extensive business insurance coverage (Cash in Counter, Cash in Transit, Public Liability, Fire, Burglary, Housebreaking, Air Accident, Travel).
• Complimentary railway lounge access (8 per year).
• Dining discounts and fuel surcharge waiver.
• Monthly fee waiver on achievable spend target (₹10,000).
• Option to convert large transactions into EMIs.

Cons:

• Cashback is only on Total Amount Due repayment, not on all spends, and has specific exclusions (e-wallet, rent, fuel, insurance premiums, cash withdrawals).
• Instant loan facility is available only after 90 days of card issuance.
• Monthly membership fee applies if waiver conditions are not met.
• Foreign currency markup is 3.5%, which is on the higher side.
• No complimentary domestic or international airport lounge access.

Who should apply: This card is ideal for self-employed individuals and small business owners who frequently use their credit card for business expenses, value insurance coverage for their operations, and can benefit from instant loan facilities and cashback on their bill repayments. It's particularly useful for those who can consistently meet the monthly spend waiver condition.

Important Product Details

• 1% cashback on repayment of Total Amount Due on the credit card bill, up to ₹1,000 per statement cycle.
• Instant loan facility available on the credit card after 90 days of issuance.
• 1% fuel surcharge waiver on transactions between ₹400 to ₹5,000, with a maximum benefit of ₹200 per month.
• Up to 30% discount at over 300 partner restaurants with the Silver Spoon Dining program.
• 8 complimentary railway lounge access per year, maximum 2 per quarter.
• Transactions worth ₹2,000 or above can be easily converted to EMIs (XpressEMI) with a processing fee.
• Comprehensive business insurance coverage including Cash in Counter, Cash in Transit, Public Liability, Fire, Burglary, Housebreaking, Card Liability, Air Accident, and travel-related insurance.
• Monthly card fee of ₹99 + GST can be waived on spending ₹10,000 or more in the statement cycle.
• Contactless payment facility for transactions up to ₹5,000 without PIN.
• Add-on cards are available.
• Foreign currency markup is 3.5%.
• Interest rate is 3.75% per month (45% per annum).

Other Details

• How to Apply: Applicants can apply online by clicking "Apply Now," uploading necessary documents, and submitting the application.
• AU Bank Presence: AU Small Finance Bank has a national presence with a network of 2,700+ touchpoints.
• AU 0101 Mobile App: Customers can manage and track transactions, view balance, download statements, and request cheque books via the AU 0101 App.
• Customer Support: 24x7 customer support is available.