HDFC Bank Purchase Moneyback Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Purchase MoneyBack Credit Card is a commercial card designed to help businesses transform their expenses into earnings. It offers an interest-free credit period of up to 50 days, provides cashback on various business expenses, and features a competitive 2.5% foreign currency markup, making it suitable for businesses seeking efficient expense management and savings.

Fees

• Joining Fee: NIL
• Renewal Fee: NIL
• Cash Processing Fee: 1% of the amount for cash payment of card dues.
• Reissue of Lost, Stolen or Damaged Card: ₹100 per card re-issue.
• Revolving Credit Charges (Interest Rates): 1.99% per month (23.88% annually) on the outstanding amount when revolving.
• Late Payment Fees:
  • ₹100 for amounts between ₹100 and ₹500.
  • ₹750 for amounts above ₹10,000.
• Payment Return Charges: 2% of the payment amount, subject to a minimum charge of ₹450.
• Retrieval Fee: ₹125 per chargeslip.
• Railway Ticket Purchase Fee: 1.8% of the transaction amount if payment is made through the HDFC Bank payment gateway.
• Foreign Currency Markup: 2.5% on all international transactions.
• Rent Payment Fee: 1% fee on rent payments made via credit cards on platforms like CRED, Paytm, and others, with a maximum charge of ₹3,000 per transaction.

Rewards

• CashBack Benefits:
  • Up to 1% CashBack on all retail purchases.

  • CashBack Eligibility

    • All general spends above ₹5 lakh are eligible.
    • Utility payments above ₹10 lakh are eligible.
    • CashBack is not eligible if EMI has been opted for.
    • Fuel spends are excluded from CashBack eligibility.
    • If the customer is delinquent for any product with the bank, CashBack will not be received in the delinquent month. Missed CashBack will not be processed or paid in subsequent months.

  • CashBack Limit

    • Capped at ₹10 lakh per month.

  • Classification for Rebate

    • Special MCC spends include spends on merchants such as Taxes, Government related services, Telecom, Groceries, Fuel, Utility, Insurance, Education, Home décor, Railway, Restaurant, Taxi, Toll fees, Bus lines, Charity, Political organisations, Religious organisations, Beauty shops, Barber shops, Child care services, Real estate agents & rentals, Legal services, Halls, Studios, Laundry services, Agricultural co-operatives, Electrical contractors, Civic, Tax preparation services, Social organisations, Fraternal organisations, Department stores, Supermarkets, Bakeries and Confectionery stores.
    • General MCC spends are spends other than the above-mentioned merchants.
    • Classification is based on the merchant category code received by the bank in the transaction settlement file.
• Travel Benefits:
  • 4% off on hotel & flight booking on MMT MyBiz powered by SmartBuy BizDeals.
  • Discounted fares, free meal & seat selection, and low fees for cancellation.
  • Up to 40% savings on business travel and software purchase on SmartBuy.
  • Best-in-class foreign currency mark-up (2.5%).
• Productivity Benefits:
  • Access to tools like Tally, Office 365, AWS, Google, Credflow, Azure & more via SmartBuy BizDeals- Nuclei.
  • Instant discount on business software such as Google Workspace, Tally Prime, AWS, Microsoft Azure & more.
• Convenience Benefits:
  • All direct expenses of the company can be centrally managed on the Purchase MoneyBack Card.
  • Reduced transaction processing time and overall cost for high volume / low value transactions.
  • Simplifies multiple invoice managements, cheque handling, and payment systems.

Rewards Redemption Guide

• The card offers attractive CashBack rewards on everyday purchases, with flexible redemption options to convert points into cashback or gifts.

Card Review

• Who Should Apply: This card is ideal for businesses looking to streamline their expense management, gain better control over spending, and earn cashback on operational costs. It's particularly beneficial for companies with significant travel, software, and general retail expenses, offering substantial savings and an interest-free credit period.
• Pros:
  • NIL joining and renewal fees.
  • Up to 50 days interest-free credit period.
  • Up to 1% cashback on retail purchases.
  • Low foreign currency markup of 2.5%.
  • Significant discounts on business travel (4% off on MMT MyBiz, up to 40% on SmartBuy).
  • Access to discounts and tools for business software and productivity.
  • Enhanced control over expenses with transaction and merchant category restrictions.
  • Centralized expense management for company direct expenses.
  • Contactless payment enabled for convenience.
  • Option for multiple cards (up to 5) for a single company.
  • Auto-debit payment option available.
• Cons:
  • Cashback is not eligible for EMI or fuel spends.
  • Cashback is capped at ₹10 lakh per month.
  • Various fees apply for cash processing, re-issue, late payments, payment returns, retrieval, railway ticket purchases, and rent payments.
  • Cashback is forfeited if the customer is delinquent with the bank.
  • Potential for biller-applied surcharges on certain payments like electricity.

Important Product Details

• Interest-free Credit Period: Up to 50 days from the date of purchase (also stated as 30+20 days), subject to submission of the charge by the merchant.
• CashBack: Up to 1% CashBack on all retail purchases, with specific eligibility criteria and exclusions (EMI, fuel, delinquency).
• Foreign Currency Markup: Only 2.5% on international transactions.
• Travel & Software Savings: Up to 40% savings on business travel and software purchases via SmartBuy, and 4% off on hotel & flight bookings on MMT MyBiz.
• Productivity Tools Access: Instant discounts and access to business software like Google Workspace, Tally Prime, AWS, Microsoft Azure, Office 365, Credflow, and more.
• Expense Control: Restrictions can be placed on the card as per transaction and vendor/merchant category for better control, supported by spends data reports.
• Centralized Expense Management: Facilitates taking all direct company expenses on a single card, reducing processing time and simplifying invoice management.
• Contactless Payments: Enabled for transactions up to ₹5,000 without a PIN in India; PIN required for transactions ₹5,000 or higher.
• Corporate Revolving Credit: Corporate can revolve 30% (MAD) of the Total Amount Due (TAD), excluding interest, fees, GST, etc., when calculating MAD.
• Multiple Cards: Up to 5 cards can be issued to a company as per their requirement.
• Payment Options: Payments can be made via cheque, auto debits, or online modes such as NEFT and RTGS. Full payment must be made by the corporate to the bank.

Other Details

• No surcharge at the bank's end on electricity payments. However, if the biller applies a surcharge for credit card payments, it will be applicable to the Purchase MoneyBack Card.
• Detailed Most Important Terms and Conditions for banking offerings are available and should be thoroughly reviewed to understand the terms and conditions applicable to the product.
• Commercial Credit Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change.