HDFC Bank Millennia Prepaid Card – Benefits, Fees & Eligibility

Introduction

The Millennia Prepaid Card, issued by HDFC Bank, is a financial instrument specifically designed for millennials to help them manage their spending, enjoy CashBack rewards, and have a convenient payment option. Positioned as a versatile prepaid card, its top differentiating benefits include CashBack on all spends, zero lost card liability, and universal acceptance across India.

Welcome Benefits

• Earn CashBack of ₹200 on your first load of ₹5,000 or above every year. This benefit is applicable per customer and is processed within 90 working days.

Fees

• Issuance Fee: ₹499 (exclusive of taxes)
• Annual Fees: ₹499 (exclusive of taxes)
• ATM Withdrawal Charges (HDFC Bank ATM):
  • Withdrawal transactions up to ₹1,000: ₹20 + GST
  • Withdrawal transactions more than ₹1,000: 1.85% of the withdrawal amount
• ATM Withdrawal Charges (Non-HDFC Bank ATM):
  • Withdrawal transactions up to ₹1,000: ₹20 + GST
  • Withdrawal transactions more than ₹1,000: 1.85% of the withdrawal amount
• Balance Enquiry at ATM using the Card (HDFC Bank ATM): ₹10 + GST
• Balance Enquiry at ATM using the Card (Non-HDFC Bank ATM): ₹10 + GST
• All charges mentioned are exclusive of applicable taxes.

Rewards

• CashBack on PayZapp and SmartBuy: Earn 5% CashBack on shopping via PayZapp and SmartBuy.
• CashBack on Online Spends: Earn 2.5% CashBack on all online spends.
• CashBack on Offline Spends and Wallet Reloads: Earn 1% CashBack on all offline spends and wallet reloads.
• Maximum Monthly CashBack: The maximum CashBack for a customer in a month is ₹400, irrespective of the number of cards held. This includes CashBack from PayZapp/SmartBuy, online spends, and offline/wallet reloads.
• Maximum Yearly CashBack: Up to ₹5,000 CashBack every year.
• CashBack Eligibility: Per transaction value of ₹200 or above will be eligible for CashBack.
• CashBack Processing: Monthly CashBack will be processed within 90 working days for valid, successful, and non-reversed transactions.
• Exclusions: CashBack will not be applicable for transactions done on Prepaid Card / wallet loading.
• Personal Accidental Insurance Cover: This feature can be availed only if the card is used for shopping at least once in the last 30 days (excluding ATM transactions).

Rewards Redemption Guide

• View and redeem reward points at the push of a button via the NetBanking portal.
• Monthly CashBack will be processed within 90 working days for valid, successful, and non-reversed transactions.

Card Eligibility Criteria

• Eligibility: Everyone is eligible for the Millennia Prepaid Card. It is designed for the Millennial generation who love to share and manage daily budgets while getting rewarded.
• Availability: The card is available only at HDFC Bank branches nationwide.
• Documents Required:
  • Application form with photograph.
  • Any one of the listed Officially Valid Documents (OVD) for Identity Proof:
    • Passport
    • Driving Licence
    • Voter's Identity Card issued by the Election Commission of India
    • Aadhaar Card (Voluntary submission requires an Aadhaar consent form)
  • Any one of the listed Officially Valid Documents (OVD) for Address Proof:
    • Passport
    • Driving Licence
    • Voter's Identity Card issued by the Election Commission of India
    • Aadhaar Card (Voluntary submission requires an Aadhaar consent form)
  • Other Documents:
    • Job card issued by NREGA duly signed by an officer of the State Government
    • Letter issued by the National Population Register containing details of the name and address

Card Review

The HDFC Bank Millennia Prepaid Card is an excellent choice for millennials seeking a convenient payment solution with rewarding CashBack benefits. It offers competitive CashBack rates on various spending categories, including higher rewards for PayZapp and SmartBuy usage. The card's universal acceptance and zero lost card liability provide peace of mind. While it comes with issuance and annual fees, the potential for up to ₹5,000 CashBack annually can offset these costs for active users. The card is particularly valuable for those who want to manage their spending effectively through a prepaid model and benefit from rewards on daily transactions.

Important Product Details

• CashBack Benefits: Up to ₹5,000 CashBack every year, with 5% on PayZapp/SmartBuy, 2.5% on online spends, and 1% on offline spends/wallet reloads.
• Maximum Monthly CashBack Cap: ₹400 per customer per month.
• Universal Acceptance: Accepted at all MasterCard enabled ATMs, online, and Point-of-Sale (POS) merchant outlets in India.
• Zero Lost Card Liability: Protection against loss, theft, or damage upon hot listing the card.
• Card Validity: Long validity of 5 years.
• Maximum Card Balance: Up to ₹2 lakh at any given point in time.
• Cash Withdrawal at POS:
  • Maximum withdrawal limit of ₹2,000 per transaction.
  • Maximum withdrawal limit of ₹5,000 per day.
  • Maximum withdrawal limit of ₹10,000 per month.
• Transaction Limit: On POS and ECOM, transactions are limited up to the balance available on the card.
• Personal Accidental Insurance: Available if the card is used for shopping at least once in the last 30 days (excluding ATM transactions).
• Fees: Issuance fee of ₹499 and an annual fee of ₹499 apply. ATM withdrawals and balance enquiries incur charges.

Other Details

• Card Definition: A Prepaid Card is a financial instrument that can be preloaded with a designated amount in rupees for subsequent use as per the Cardholder’s requirement. It empowers the cardholder and provides control and convenience to use the card securely for online shopping and at retail merchants.
• Card Management & Control:
  • Single Interface: One unified platform for Credit Cards, Debit Cards, FASTag, and Consumer Durable Loans.
  • Spends Tracking: Simple interface to track all your spends.
  • Reward Points: View and redeem points at the push of a button.
• Banking Benefits:
  • 24/7 access to NetBanking and PhoneBanking.
  • Free Balance enquiry at Prepaid Card NetBanking Portal.
• Transaction Alerts: Free SMS alerts of all transactions to ensure complete peace of mind. You will receive transaction alerts on the mobile number & email ID registered at the time of placing the request.
• Spends Tracking: Track all transactions using the Millennia Prepaid Card NetBanking portal.
• Flexible Spending: You can consume the available balance either at one time or over multiple purchases.
• Changing Demographic Details:
  • For Mobile Number / Email ID: Log in to the Prepaid Card NetBanking Portal, go to "Manage My Profile," then "Contact Information," select "Edit," enter new details, and verify with OTP. Updates are instant.
  • For Address Update: Visit your nearest HDFC Bank branch, submit a signed application for "Change in Address" along with documentary proof of your new address (bring originals for verification). Mailing address will be updated within 7 working days.
• Terms and Conditions: The Most Important Terms and Conditions for banking offerings feature specific terms and conditions that govern their use. It is advised to go through them thoroughly.