IndusInd Bank Duo Plus Credit Card – Benefits, Fees & Eligibility

IndusInd Bank Duo Card

Introduction

The IndusInd Bank Duo Card is India's first credit-cum-debit card, uniquely designed with two magnetic stripes and EMV chips to offer unparalleled convenience, flexibility, and freedom in choosing payment methods and accessing cash without carrying multiple cards. This innovative card consolidates the benefits of both a Credit and a Debit Card, providing a wide array of perks from annual movie tickets to comprehensive insurance coverage and a competitive cross-currency markup. The card aims to simplify financial transactions while rewarding cardholders for their spending.

Welcome Benefits

For IndusInd Bank Duo Plus Credit Card

• Vouchers worth ₹1,000 from a selection of top brands:
  • Bata
  • United Colors of Benetton
  • Levis
  • Pantaloons
  • Pizza Hut

For IndusInd Bank Duo Premier Credit Card

• Vouchers worth ₹3,000 from a selection of brands:
  • Louis Philippe
  • Titan
  • Aldo
  • Bata
  • Fab Hotels
  • Marks & Spencer

Fees

For IndusInd Bank Duo Plus Credit Card

• Joining Fee: ₹1,500 + GST
• Renewal Fee: ₹799 + GST
• Rewards Redemption Fee: ₹100
• Foreign Currency Markup: 2% on all foreign currency spends
• Interest Rates: 3.83% per month
• Fuel Surcharge: 1% fuel surcharge waiver for transactions between ₹400 and ₹4,000 across all petrol pumps in India.
• Cash Advance Charges: 2.5% of the cash amount or ₹500, whichever is higher.

For IndusInd Bank Duo Premier Credit Card

• Joining Fees: ₹3,000
• Annual Fees: ₹799

For IndusInd Bank Duo Debit Card

• Issuance Fee: ₹249 + Taxes
• Annual Fee: Free
• Fuel Surcharge: No fuel surcharge is applicable, subject to Government regulations and revisions.

Rewards

• General Reward Rate: Earn 1 Reward Point for every ₹150 spent on the IndusInd Bank Duo Card.
• Movies:
  • Buy One Get One Free Offer: Applicable on BookMyShow bookings, once per month (up to 12 times in a year).
  • The price of the free ticket is capped at ₹250. From June 1, 2023, the free ticket price is capped at ₹200 for Duo Credit Card. Cardholders will pay the remaining amount if the ticket price exceeds the cap.
  • Offer is available on a First Come First Serve basis due to limited monthly free tickets.
  • To avail, apply under the ‘Avail Offers & Discounts’ tab:
    • For Duo Debit Card: Select "IndusInd Bank Platinum, Select, Exclusive, Signature, Titanium & DUO Debit Card Offer".
    • For Duo Credit Card: Select "IndusInd Bank Credit Card Offer".
  • This movie feature is not applicable for DUO (Credit) Cards with a NIL limit.
• Travel:
  • Complimentary Priority Pass membership is provided, offering access to over 700 lounges worldwide.
  • All lounge visits using Priority Pass will be charged US $27 + GST per person per visit (no complimentary lounge access).
  • Travel Insurance Cover (for Duo Credit Card):
    • Lost baggage: Up to ₹100,000
    • Delayed baggage: Up to ₹25,000
    • Loss of passport: Up to ₹50,000
    • Lost ticket: Up to ₹25,000
    • Missed connection: Up to ₹25,000
• Insurance:
  • For IndusInd Bank Duo Debit Card:
    • Lost Card Liability: ₹3,00,000
    • Air Accident Insurance: ₹25,00,000
    • Personal Accident Insurance: ₹2,00,000
    • Purchase Protection: ₹50,000
  • For IndusInd Bank Duo Plus Credit Card:
    • Air Accident Coverage: ₹30,00,000
    • Personal Accident Insurance Cover: ₹2,00,000
    • Purchase Protection Cover: ₹50,000
    • Lost Card Liability Cover: ₹3,00,000 (covers unauthorized transactions up to 48 hours prior to reporting loss)
    • Counterfeit Fraud protection.
• Lifestyle (Concierge):
  • 24x7 concierge services are available for:
    • Hotel reservations
    • Flight bookings
    • Pre-trip assistance
    • Entertainment bookings
    • Sports bookings
    • Gifts & Flowers

Rewards Redemption Guide

• Reward points can be redeemed against various options and offers available at Indus Moments.
• Reward points can also be redeemed against cash credit.
• 1 Reward Point = ₹0.50 for redemption against cash credit.
• Effective September 1, 2024, the maximum reward points allowed for cash redemption will be 2,500 per calendar month.

Card Review

The IndusInd Bank Duo Plus Credit Card is a groundbreaking product, being one of India's first credit-cum-debit cards, offering dual advantages with a single card. It is particularly well-suited for individuals looking to consolidate their wallet and benefit from exclusive rewards on everyday spending, movies, and travel.

Pros:

• Dual Functionality: Combines credit and debit card features in one, simplifying transactions.
• Generous Welcome Benefits: Vouchers worth ₹1,000 for Duo Plus and ₹3,000 for Duo Premier variants from popular brands.
• Movie Benefits: Consistent "Buy One Get One Free" movie offer on BookMyShow, up to ₹250/month.
• Comprehensive Insurance: Extensive coverage for lost card liability, air accidents, personal accidents, purchase protection, and travel incidents.
• Low Foreign Currency Markup: A competitive 2% markup fee makes international transactions more economical.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹400 and ₹4,000.
• Concierge Services: 24x7 assistance for various lifestyle needs.
• Potential Annual Savings: Estimated total savings of ₹10,200 annually from movie tickets, fuel surcharge savings, and reward points (based on an average monthly spend of ₹30,000).

Cons:

• Lounge access via Priority Pass is charged per visit, not complimentary.
• Reward points redemption for cash credit has a monthly cap.

Overall Verdict: The IndusInd Bank Duo Plus Credit Card is a strong contender for those who value convenience, comprehensive benefits, and significant savings, especially in categories like movies and international spending. Its unique dual functionality and robust insurance coverage make it a highly valuable tool for managing both daily expenses and larger credit-based purchases effectively. It's an excellent choice for individuals seeking a streamlined and rewarding banking experience.

Important Product Details

• First-of-its-kind credit-cum-debit card in India.
• Features two Magnetic stripes and EMV Chips for enhanced security and functionality.
• Offers ₹3,000 worth of annual movie tickets through Buy One Get One Free offer (capped at ₹250 per month).
• Low foreign currency markup of 2% on all foreign currency spends.
• Zero annual fee for the Debit Card functionality.
• Reward Points program: 1 Reward Point for every ₹150 spent.
• Comprehensive insurance benefits including Lost Card Liability (₹3,00,000), Air Accident Insurance (up to ₹30,00,000 for Credit Card, ₹25,00,000 for Debit Card), Personal Accident Insurance (₹2,00,000), and Purchase Protection (₹50,000).
• Travel insurance benefits for Duo Credit Card include coverage for lost baggage, delayed baggage, loss of passport, lost ticket, and missed connection.
• 1% fuel surcharge waiver for credit card transactions between ₹400 and ₹4,000. No fuel surcharge for debit card transactions.
• 24x7 concierge services are available for various bookings and assistance.
• Estimated annual savings of ₹10,200, including movie benefits, fuel surcharge savings, and reward points.

Other Details

• Card Usage:
  • The Duo Card comes with two EMV Chips and PINs, offering enhanced security for domestic and international transactions.
  • At an ATM:
    • To use as an ATM/Debit Card (withdraw funds from bank account, other banking transactions): Insert from the ‘ATM/Debit Card’ (blue arrow) side and enter Debit Card PIN. Transactions appear on your bank account statement.
    • To use as a Credit Card (Cash Advance): Insert from the ‘Credit Card’ (yellow arrow) side and enter Credit Card PIN. Cash Advance and interest charges apply, appearing on your monthly Credit Card statement.
  • At Point-of-Sale (POS) Merchant Establishments:
    • To pay using funds from your bank account (Debit Card): Insert from the ‘ATM/Debit Card’ (blue arrow) side and enter Debit Card PIN. Transactions appear on your bank account statement.
    • To pay using assigned Credit Card Limit: Insert from the ‘Credit Card’ (yellow arrow) side and enter Credit Card PIN. Transactions appear on your monthly Credit Card statement.
    • For Non-Chip and PIN POS terminals: Swipe the relevant Magstripe (Debit/Credit) and enter the appropriate PIN.
  • Online Transactions:
    • For online transactions using bank account funds (Debit Card): Enter Debit Card Credentials (Card Number, Expiry Date, CVV) and authenticate with Verified By Visa (VBV) Password or One Time Password (OTP) sent to your registered mobile number. Transactions appear on your bank account statement.
    • For online transactions using Credit Card Limit: Enter Credit Card Credentials (Card Number, Expiry Date, CVV) and authenticate with Verified By Visa (VBV) Password or One Time Password (OTP) sent to your registered mobile number/email address. Transactions appear on your monthly Credit Card statement.
• Daily Transaction Limits (Duo Debit Card):
  • ATM: ₹1,25,000
  • POS (Point-of-Sale): ₹2,00,000
• Address for Communication:
  • For New to Bank Credit Card and Savings Account Customers: The address provided in the DUO application form will be used for all communication.
  • For existing Credit Card Account holders without a Savings Account: The mailing address updated in bank records will be used for Credit Card communication and DUO Card delivery.
  • For existing Savings Account holders without a Credit Card Account: The address provided in the DUO application form will be used for Credit Card communication and DUO Card delivery. Savings Account address remains unchanged.
• Supplementary/Add-on Cards: Cannot be issued on DUO Cards.
• Contact Details Update:
  • For DUO Credit Card: Customer needs to call the 24/7 helpline number.
  • For DUO Debit Card: Customer needs to visit the nearest branch.
• Card Blocking:
  • To block the DUO Card via 24/7 helpline: A single call can block both Debit & Credit functionalities.
  • To block via IndusMobile app: Both Debit & Credit Cards will need to be blocked separately.
• Application Process: You can apply for an IndusInd Bank Duo Plus Credit Card through the bank's designated application portal.