Bank of IndiaBank of India Rupay Mudra Debit Card – Benefits, Fees & Eligibility
Is the Bank of India Rupay Mudra Debit Card Right for You?
The Bank of India Rupay Mudra Debit Card is best suited for users who prioritize Everyday Use. With an issuance fee of Lifetime Free and an annual maintenance charge of Lifetime Free, this card offers free entry for new applicants. It offers Reward Points as its primary reward mechanism, with a rewards rate of Earn Star Points on POS transactions.
Key Card Details
Lifetime Free
Lifetime Free
Reward Points
Earn Star Points on POS transactions
₹15,000 per day
₹25,000 per day
Notable Perks
Account Requirement
Available for eligible beneficiaries of MUDRA Loans under PMMY
Things to Consider
Cannot be used for international transactions or online international spends
Low daily ATM withdrawal limit of just ₹15,000
Limited daily POS transaction limit of ₹25,000
Benefits & Features
Rewards Rate
Earn Star Points on POS transactions
Reward Type
Reward Points
Daily ATM Withdrawal Limit
₹15,000 per day
Daily POS/Online Spend Limit
₹25,000 per day
Account Requirement
Available for eligible beneficiaries of MUDRA Loans under PMMY
Fees & Charges
Issuance Fee
Lifetime Free
AMC Fee
Lifetime Free
Pros & Cons
Pros
Key benefits and features of this card.
Earn Star Points as rewards on POS transactions
Contactless payment convenience for quick tap-and-pay
Designed specifically for MUDRA loan beneficiaries
No PIN required for contactless transactions up to ₹5,000
Cons
Key drawbacks and limitations of this card.
Cannot be used for international transactions or online international spends
Low daily ATM withdrawal limit of just ₹15,000
Limited daily POS transaction limit of ₹25,000
Fee structure is not clearly defined in the card details
Product Details
RuPay card network variant
Contactless payment enabled
Personalized in the name of the firm
Strictly for domestic usage only
PIN-free contactless payments up to ₹5,000
Benefits & Features
Rewards Rate
Earn Star Points on POS transactions
Reward Type
Reward Points
Daily ATM Withdrawal Limit
₹15,000 per day
Daily POS/Online Spend Limit
₹25,000 per day
Account Requirement
Available for eligible beneficiaries of MUDRA Loans under PMMY
What matters, explained clearly
Introduction
The Rupay Mudra Debit Card is a government-sponsored, contactless debit card issued by the bank, designed specifically for eligible beneficiaries of MUDRA Loans under the Pradhan Mantri Mudra Yojana (PMMY). It is a personalized card issued in the name of the firm and is intended for domestic usage only. A key differentiating benefit is the ability to earn reward points (Star Points) on POS transactions, along with the convenience of contactless payments without a PIN for smaller amounts.
Transaction Limits & Usage
- ATM Withdrawal Limit: Rs. 15,000 per day
- POS Transaction Limit: Rs. 25,000 per day
- Contactless Transaction Limit: No PIN is required for contactless transactions up to Rs. 5,000 per transaction. A PIN is mandatory for all transactions above Rs. 5,000 per transaction. These limits are subject to change in the future by RBI.
- International Usage: This card is for domestic usage only.
Fees and Charges
- For detailed charges, please refer to the bank's official schedule of charges for digital banking products.
Rewards & Offers
- Cardholders will get rewarded with Star Points for their transactions at POS.
Account & Eligibility Criteria
- The card is available for all eligible beneficiaries of MUDRA Loans under the Pradhan Mantri Mudra Yojana (PMMY).
Important Product Details
- The card is a RuPay variant.
- It is a contactless debit card.
- The card is personalized in the name of the firm.
- It is strictly for domestic usage and cannot be used internationally.