IndusInd Bank eSvarna Corporate Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Bank eSvarna Corporate Card is a specialized offering from IndusInd Bank, designed for corporate companies to streamline their expenses and provide exclusive benefits to their employees. Positioned as a comprehensive corporate solution, this card stands out with its ability to be linked to UPI applications, offering a modern payment experience. Key differentiating features include the option to emboss the company name on the card, extensive domestic and international lounge access, and robust insurance coverage, all supported by a dedicated relationship manager.

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: Not applicable (as joining and renewal fees are already nil)
• Rewards Redemption Fee: Not applicable
• Foreign Currency Markup: 3.5%
• Interest Rates: Nil
• Fuel Surcharge: 1% waiver on fuel transactions between ₹ 500 to ₹ 10,000 at all fuel stations across India.
• Cash Advance Charges: 3.35%

Important Product Details

• This is a corporate credit card issued on the RuPay Network.
• UPI Enabled: The card can be linked to UPI applications such as BHIM, PhonePe, Paytm, and Google Pay, allowing for easy payments by scanning QR codes.
  • Steps to Link eSvarna RuPay Card on UPI:
    1. Open your UPI app (BHIM, PhonePe, Paytm, Google Pay).
    2. Select "Add Credit Card/Link Credit Card" option.
    3. Select IndusInd Bank as the Credit Card Issuer Bank.
    4. Select your IndusInd Bank Platinum RuPay Credit Card (eSvarna Card).
    5. Proceed to generate UPI PIN.
  • Steps to Set UPI PIN:
    1. Select "Generate PIN" option, then select IndusInd Bank RuPay Card (eSvarna Card).
    2. Enter the last 6 digits of your eSvarna Card and its Expiry Date. An OTP will be sent to your registered mobile number.
    3. Enter the OTP and set a PIN of your choice.
  • Steps for Making UPI Payments:
    1. Scan a Merchant QR Code or enter a Merchant UPI ID.
    2. Enter the amount to be paid or pay the auto-fetched amount.
    3. Select eSvarna RuPay Card from the list of payment options.
    4. Enter the UPI PIN for your Credit Card and click Confirm.
• Corporate Identity: The card allows for the company's name to be embossed, providing a sense of belonging and superiority. A maximum of 19 characters (inclusive of spaces and department name) can be added for customization.
• Domestic Lounge Access: Enjoy 8 complimentary visits to domestic airport lounges across India each year.
• International Lounge Access: Avail 2 complimentary visits to international airport lounges each year.
• Insurance Benefits: Comprehensive insurance coverage is provided, protecting against unforeseen circumstances.
  • Counterfeit Fraud: Covers fraudulent use if the card or its details are stolen and used by producing counterfeit plastic.
  • Lost Card Liability: Covers unauthorized transactions on the card once the loss is reported to the bank.
  • Travel Insurance: Covers loss of passport, ticket, baggage delay, and missing connecting flight. It also includes air accident death coverage.
• Dedicated Relationship Manager: Corporates are assigned a designated relationship manager to handle day-to-day service-related queries and product clarifications.
• E-Statements: Individual as well as consolidated e-statements are available for easy download for all cardholders.
• Consolidated Payment: IndusInd Bank offers a "One Account, One Payment" solution, allowing the corporate to make one consolidated payment for all its employees' individual cards, simplifying reimbursement processes.
• Dedicated Customer Service: 24*7 customer service officials are available via a toll-free number and email for emergencies and queries.
• The card is part of a Corporate Liability program where the Bank assigns a credit limit to the Corporate, which the Corporate can then bifurcate to individual cards based on their policies and requirements. Corporate limits are assigned based on a complete credit assessment.

Card Review

The IndusInd Bank eSvarna Corporate Card is a robust offering tailored for businesses seeking to manage corporate expenses efficiently while providing valuable benefits to their employees. Its key strengths lie in its zero joining and annual fees, making it a cost-effective solution. The card's integration with UPI on the RuPay Network is a significant advantage, offering modern and convenient payment options. Employees benefit from complimentary domestic and international lounge access, enhancing their travel experience. The comprehensive insurance coverage, including counterfeit fraud, lost card liability, and travel insurance, provides peace of mind. For corporates, features like dedicated relationship managers, consolidated statements, and a single payment solution simplify financial management. The ability to emboss the company name adds a professional touch and reinforces corporate identity. While the card does not offer a traditional rewards program, its operational efficiencies and travel-related perks make it a strong contender for companies looking for a practical and feature-rich corporate credit card.

Other Details

• Customer Support: For any queries or assistance, you can contact IndusInd Bank customer support by calling the toll-free number 1860 267 7777 or by writing to corporate.cards@IndusInd.com.
• Various important documents and terms & conditions, including Safety Tips, Most Important Terms & Conditions, Cardholders' Agreement, Code of Bank's Commitment, Benefit Guide, Key Fact Sheet, Incentive Program T&C, Payment T&C, FAQs for UPI on CC, and Fuel Surcharge Waiver T&C, are available for download.