IDBI Bank Royale Signature Credit Card – Benefits, Fees & Eligibility

IDBI Bank Royale Signature Credit Card

Introduction

The IDBI Bank Royale Signature Credit Card is an entry-level shopping credit card designed for individuals who seek better than the best services and unparalleled privileges. It is positioned as a "One Stop Card" that caters to a luxurious lifestyle, offering various benefits from rewards to travel perks, both in India and abroad. Currently, this card is offered with no joining fees, making it an accessible option for new cardholders.

Welcome Benefits

• Earn 750 Delight Points on the first usage of the card if a minimum transaction of Rs. 1,500 is made within 30 days of card issuance.
• Alternatively, earn 400 Delight Points if the first transaction of a minimum of Rs. 1,500 is made between 31 and 90 days of card issuance.

Fees

• Joining Fee (Primary / Add-on Card): Nil
• Annual Fee (Primary Card / Add-on Card): Nil
• Renewal Fee (Primary / Add-on Card): Nil
• Interest on Revolving Credit Facility: 2.5% per month
• Cash Advance Fee: 2.5% of the transaction amount or Rs. 500, whichever is higher
• Interest on Cash Advance: 2.5% per month
• Late Payment Fees (Per occasion, based on amount due):
  • Less than or equal to Rs. 500: Nil
  • Greater than Rs. 500 to less than or equal to Rs. 5,000: Rs. 400
  • Greater than Rs. 5,000 to less than or equal to Rs. 10,000: Rs. 500
  • Greater than Rs. 10,000 to less than or equal to Rs. 20,000: Rs. 750
  • Greater than Rs. 20,000: Rs. 950
• Over Limit Charges: 2.5% of the over limit amount, subject to a minimum of Rs. 500
• Cheque / Auto Debit Return Charges: Rs. 500
• Cash Processing Charges: Rs. 200
• Duplicate Physical Statement Request: Rs. 100 (for statements more than 03 months old)
• Card Replacement Fee: Rs. 200
• Foreign Currency Transactions Markup: 3.5%
• Rewards Points Redemption Fee: Nil
• EMI Charges:
  • Minimum Amount: Rs. 3,000
  • Interest Rate: 13% per Annum
  • Processing and Foreclosure Fees: Nil
  • EMI Tenure Options: 3, 6, 9, or 12 months
• Balance Transfer Charges:
  • Minimum Amount: Rs. 3,000
  • Processing Fee: 1.5% of BT amount or Rs. 199, whichever is higher. Normal Interest rate for EMI will apply.
• Card Account Closure Charge: Nil
• Note: All above charges are exclusive of applicable GST.

Rewards

• Reward Rate:
  • Earn 3 Delight Points for every Rs. 100 spent using the IDBI Bank Royale Signature Credit Card.
  • Delight Points are not accrued on certain exempted transaction categories (detailed information available on the IDBI Delight portal).
• Travel Benefits:
  • Airport Lounge Access:
    • Enjoy 1 complimentary lounge visit per calendar quarter at participating Domestic Airport Lounges in India under the Visa Domestic Lounge program.
    • This access is subject to change as per VISA’s discretion.
    • International lounge access is not applicable.
  • Air Travel Accident Insurance Cover:
    • Receive an air travel accident insurance cover worth Rs. 25 lakhs, providing peace of mind during business or leisure travel.
  • VISA Travel Offers:
    • Customers are eligible for exclusive offers on airport shopping, hotel reservations, and car rentals, specifically provided for VISA Signature cardholders.
    • Access to travel concierge services provided by VISA for travel-related assistance.
    • These offers are provided by VISA and may change without prior notice.
• Fuel Surcharge Waiver:
  • Receive a 1% fuel surcharge waiver every time you fill fuel using your IDBI Bank Royale Signature Card across all fuel stations.
  • This waiver applies to transactions in the range of Rs. 400 to Rs. 5,000.
  • The maximum waiver is capped at Rs. 500 per month.

Rewards Redemption Guide

• Delight Points earned can be redeemed on the IDBI Delights portal.
• Redemption options include:
  • Cashback against the card’s outstanding balance.
  • Merchandise.
  • Flight tickets and hotel reservations.
  • Mobile recharges.
  • Gift cards.
  • Bus tickets.
  • Movie tickets.
• The monetary value of 1 Delight Point is Rs. 0.25.
• Delight Points are valid for a period of 3 years, with the exception of the month in which the points were accrued.

Card Eligibility Criteria

• Primary Card Holder:
  • Age must be between 21 years and 60 years for salaried applicants.
  • Age must be between 21 years and 65 years for self-employed applicants.
  • Must be a resident of India.
• Add-on Card Holder:
  • Age must be 18 years and above.
  • Must be a resident of India.
• Note: The above eligibility criteria are only indicative, and the Bank reserves the right to approve or decline applications for the Credit Card.

Documents Required

• ID Proof: Voter ID, Passport, Driving License, PAN card, Aadhaar Card.
• Residence Proof: Electricity Bill, Telephone Bill, Election Card, Passport, Aadhaar Card.
• Income Proof: Latest 3 months’ Salary Slip, Latest 3 months Bank Statement, Income Tax Returns (ITR), Form 16.
• Other: Recent Photograph.
• Note: This list is indicative, and required documents may vary on a case-to-case basis.

Card Review

The IDBI Bank Royale Signature Credit Card is an entry-level offering with a decent reward rate of 3 Delight Points for every Rs. 100 spent. It is particularly well-suited for individuals embarking on their credit journey or young professionals seeking a foundational credit card. A significant advantage of this card is the absence of any joining, annual, or renewal fees, making it a cost-effective option. While considered a basic card, it provides valuable travel benefits such as one complimentary domestic airport lounge visit per quarter and a substantial personal air accident cover worth Rs. 25 lakhs, which are commendable for a no-annual-fee card. Overall, it serves as a good pick for those looking for basic benefits with no recurring costs, potentially as an alternative to secure credit builder cards.

Important Product Details

• Zero Fees: No joining, annual, or renewal fees.
• Reward Rate: Earn 3 Delight Points for every Rs. 100 spent.
• Welcome Bonus: Up to 750 Delight Points on first usage (min Rs. 1,500) within 30 days.
• Travel Perks: Includes 1 complimentary domestic airport lounge visit per quarter and Rs. 25 lakhs air travel accident insurance.
• Fuel Savings: 1% fuel surcharge waiver on transactions between Rs. 400 and Rs. 5,000 (capped at Rs. 500/month).
• Security: Features Zero Lost Card Liability, protecting against fraudulent transactions post-reporting.
• Extended Benefits: Option for up to 2 add-on cards for family members (aged 18 and above) at no extra cost, with Delight Points and credit limit clubbed with the primary card.
• Interest-Free Period: Enjoy up to 48 days of interest-free credit on purchases.
• Foreign Transaction Fee: A cross-currency markup of 3.5% applies to foreign currency transactions.
• Interest on Revolving Credit/Cash Advance: 2.5% per month.

Other Details

• Customer Care/Phone Banking (24x7 service):
  • Toll-Free: 1800 425 7600
  • Non Toll-Free: 022 4042 6013
  • Additional numbers: 1800 22 6999, 022 67719100
• Wider Acceptance: The card offers extensive utility, being accepted at over 9 lakh merchants in India and more than 29 million merchants abroad.
• How to Apply:
  • Applicants can get in touch by calling the Phone Banking numbers.
  • Visit the nearest IDBI Bank branch.
  • Apply through the bank’s official website.
  • A bank representative will contact interested individuals at the earliest for further assistance.
• Credit Card Welcome e-Kit: As part of IDBI Bank’s "Go Green" initiative, a digitized Credit Card Welcome e-Kit is provided. This e-Kit offers detailed information regarding Card Usage, Cardholders Agreement, and Most Important Terms & Conditions (MITC) in a downloadable PDF format.
• Interest-Free Credit: Enjoy interest-free credit for up to 48 days on your purchases. You have the flexibility to pay the total outstanding amount, the minimum amount due, or any other amount higher than the minimum due.
• Card Misuse Protection: In case of loss of the credit card, immediately report it to Customer Care. The card will be blocked to prevent misuse, and any fraudulent transaction after reporting the loss will be covered by the Bank.