HDFC Bank Bharat Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Bharat Credit Card is an entry-level cashback credit card designed to offer significant savings on everyday expenses. It provides 5% monthly cashback across various selected merchant categories, including mobile recharges, bill payments, groceries, and railway ticket bookings through IRCTC. Cardholders also benefit from a 5% monthly cashback on fuel expenses, complemented by a 1% fuel surcharge waiver. Additionally, the card extends cashback benefits for transactions made via payment platforms like PayZapp, EasyEMI, and SmartBuy. With a joining and annual fee of Rs. 500 plus applicable taxes, this card serves as a convenient tool for building credit history and maximizing savings on routine spends.

Fees

• Joining Fee: Rs. 500 plus Applicable Taxes / GST
• Renewal Fee: Rs. 500 plus Applicable Taxes / GST
• Spend-Based Waiver: The annual fee of Rs. 500 will be waived off if a cardholder spends Rs. 20,000 or more in the previous year.
• Rewards Redemption Fee: Rs. 99
• Foreign Currency Markup: 3.5% on the conversion amount
• Interest Rates: 3.6% per month (43.2% per annum)
• Fuel Surcharge: 1% fuel surcharge waiver on fuel expenses.
  • A minimum transaction of Rs. 400 is required to avail the waiver.
  • The waiver is capped at Rs. 250 in every billing cycle.
• Cash Advance Charges: 2.5% of the transaction amount or Rs. 500, whichever is higher.
• Goods and Services Tax (GST):
  • Effective from 1st July 2017, Service Tax, KKC & SBC of 15% is replaced by GST at 18%.
  • The applicable GST depends on the place of provision (POP) and place of supply (POS). If POP and POS are in the same state, CGST and SGST/UTGST will apply; otherwise, IGST will apply.
  • GST for fee & charges / interest transactions billed on the statement date will reflect in the next month's statement.
  • GST levied will not be reversed on any dispute regarding fee & charges / interest.

Rewards

• Cashback on Key Categories:
  • Get 5% monthly cashback when booking tickets through IRCTC.
  • Enjoy 5% monthly cashback on fuel expenses.
  • Enjoy 5% monthly cashback on spends on Groceries.
  • Enjoy 5% monthly cashback on Bill Payment and Mobile Recharges.
• Cashback on Payment Platforms:
  • Get 5% monthly cashback on spends on PayZapp/EasyEMI/SmartBUY.
• Cashback Caps:
  • Category A (IRCTC, Fuel, Groceries, Bill Payment & Mobile Recharges): Maximum cashback per month for Category A is Rs. 150 (combined).
  • Category B (PayZapp/EasyEMI/SmartBUY): Maximum cashback per month for Category B is Rs. 150 (combined).
• Fuel Surcharge Waiver:
  • Get 1% fuel surcharge waiver, saving up to Rs. 250 in every billing cycle (Minimum transaction of Rs. 400).
• Annual Savings Illustration (Based on a typical spend pattern, subject to monthly cashback caps):
  • IRCTC: Monthly Spends Rs. 800 (Annual Rs. 10,000) - Potential 5% Cashback Rs. 500
  • Fuel: Monthly Spends Rs. 800 (Annual Rs. 10,000) - Potential 5% Cashback Rs. 500
  • Groceries: Monthly Spends Rs. 800 (Annual Rs. 10,000) - Potential 5% Cashback Rs. 500
  • Bill Payment/Recharge: Monthly Spends Rs. 500 (Annual Rs. 6,000) - Potential 5% Cashback Rs. 300
  • Total for Category A (before monthly cap): Annual Spends Rs. 36,000 - Potential 5% Cashback Rs. 1,800
  • PayZapp: Monthly Spends Rs. 1,000 (Annual Rs. 12,000) - Potential 5% Cashback Rs. 600
  • EasyEMI: Monthly Spends Rs. 1,000 (Annual Rs. 12,000) - Potential 5% Cashback Rs. 600
  • SmartBuy: Monthly Spends Rs. 1,000 (Annual Rs. 12,000) - Potential 5% Cashback Rs. 600
  • Total for Category B (before monthly cap): Annual Spends Rs. 36,000 - Potential 5% Cashback Rs. 1,800
  • Total Maximum Savings on HDFC Bank Bharat Credit Card: Up to Rs. 3,600 per year (achieved by consistently meeting the maximum monthly cashback for both Category A and B, i.e., Rs. 150 * 12 months for Category A and Rs. 150 * 12 months for Category B).
• Insurance Benefits:
  • Get up to Rs. 50 Lakhs accidental death cover.
• Zero Lost Card Liability:
  • Cardholders will not be liable for the loss or theft of the card if reported to the bank within 24 hours.
• Interest-Free Credit Period:
  • Avail up to 50 interest-free days from the date of purchase (subject to submission of charge by merchant).
• Revolving Credit:
  • Enjoy Revolving Credit at a nominal interest rate.
• Safety:
  • Stay protected against unauthorized use when shopping anywhere with EMV Chip Card technology.

Rewards Exclusions and Conditions

• Recharges clubbed with mobile phone purchases, or recharges done at merchant outlets dealing in mobile sales & accessories will not be eligible for the 5% Cashback offer on recharges.
• Wallet loading will not be considered for Cashback.
• If spends overlap between Category A and B (e.g., recharges done through PayZapp), the customer will receive credit only under one feature.
• Eligibility for Reward Points on a transaction is based on the Merchant Category Code (MCC) captured for the transaction. Only those MCCs recognized and considered by Partner Networks (RuPay) for the mentioned categories will accrue 5% Reward Points. Transactions not recognized under the MCCs of Fuel/Groceries/IRCTC/Bill Payment & Mobile Recharges will not accrue Reward Points.
• With effect from 1st January 2023, Rent payments and Government Related transactions will NOT earn Reward Points.

Rewards Redemption Guide

• Cashback will be retained as Reward Points and will be posted in the next statement.
• Reward points can be redeemed as CashBack on customer request against the statement balance.
• 1 Reward Point = Re. 1.
• With effect from 1st February 2023, Reward points redemption for CashBack is capped at 3,000 reward points per calendar month.
• With effect from 1st February 2023, cardmembers can redeem up to 70% of product/Voucher value through Reward points on select vouchers/products and pay the remaining amount via Credit card.

Card Eligibility Criteria

Eligibility Rules

• Salaried Employee:
  • Age: Minimum 21 years & Maximum 60 years.
  • Income: Gross Monthly Income > Rs 12,000.
• Self-Employed Individual:
  • Age: Minimum 21 years & Maximum 65 years.
  • Income: ITR > Rs 2 Lakhs per annum.

Documents Required

• Identity proof: Aadhar Card, PAN Card, Voter’s ID, Passport, Driving License, etc.
• Address proof: Latest months’ utility bills, Aadhar Card, Passport, etc.
• Proof of Income: Latest salary slips/bank statements or latest audited ITR.

Card Review

The HDFC Bank Bharat Credit Card is a solid entry-level cashback card, particularly well-suited for individuals looking to save on recurring household expenses and daily commutes. Its main strength lies in the consistent 5% cashback offered across essential categories such as fuel, groceries, bill payments, mobile recharges, and IRCTC ticket bookings, as well as on payments made through HDFC's digital platforms like PayZapp, SmartBuy, and EasyEMI. The 1% fuel surcharge waiver is a valuable addition for frequent drivers.

Pros:

• High cashback rate of 5% on frequently used categories.
• Includes a fuel surcharge waiver, enhancing savings on fuel.
• Zero lost card liability provides security.
• Accidental death cover of up to Rs. 50 Lakhs.
• Annual fee waiver on achieving a reasonable spending threshold (Rs. 20,000).
• Good for new credit card users to build credit history.

Cons:

• Monthly cashback is capped at Rs. 150 for Category A and Rs. 150 for Category B, limiting overall high-spend savings.
• Lacks premium benefits like movie, dining, or lounge access.
• A rewards redemption fee of Rs. 99 applies.
• Certain transactions like wallet loading, rent payments, and government-related transactions do not earn reward points.

Who should apply: This card is ideal for first-time credit card users or those seeking a basic, value-for-money card to manage and save on everyday expenses, especially if they frequently use HDFC Bank's payment platforms. It's a great option for individuals whose monthly spends align with the capped cashback categories and who are looking to establish or improve their credit score with a reliable cashback offering.

Important Product Details

• Offers 5% monthly cashback on transactions categorized under Category A (fuel expenses, IRCTC ticket bookings, groceries, bill payments, and mobile recharges).
• Provides 5% monthly cashback on transactions categorized under Category B (payments made through PayZapp, EasyEMI, or SmartBUY).
• The maximum cashback for Category A is capped at Rs. 150 per month (combined).
• The maximum cashback for Category B is capped at Rs. 150 per month (combined).
• Cashback earned is retained as reward points, with 1 Reward Point equivalent to Re. 1.
• Reward points redemption for cashback is capped at 3,000 reward points per calendar month (effective February 1, 2023).
• Cardholders can redeem up to 70% of product/voucher value through reward points on select items and pay the balance via credit card (effective February 1, 2023).
• Enjoy up to 50 interest-free days on purchases.
• Features a 1% fuel surcharge waiver, capped at Rs. 250 per billing cycle, on minimum transactions of Rs. 400.
• Annual fee of Rs. 500 (plus GST) can be waived on spending Rs. 20,000 or more in the preceding year.
• Includes an accidental death cover of up to Rs. 50 Lakhs.
• Wallet loading, rent payments, and government-related transactions are not eligible for cashback/reward points.
• A rewards redemption fee of Rs. 99 applies.
• Foreign currency markup fee is 3.5%.
• Interest rate is 3.6% per month (43.2% per annum).

Other Details

• The credit limit for the HDFC Bank Bharat Credit Card varies for different cardholders based on factors like credit history and monthly income. It may be increased over time with responsible card usage and a good credit history.
• The card can be applied for online via the HDFC Bank's official website or offline by visiting a nearest HDFC Bank branch.
• For cards sourced effective 01-11-2020, the Bank reserves the right to cancel the Card if it remains inactive and is not used for any transaction for a continuous period of 6 months, after prior written notice.