IndusInd Bank eSvarna Corporate Card – Benefits, Fees & Eligibility

IndusInd Bank eSvarna Corporate Card

Introduction

The IndusInd Bank eSvarna Corporate Card is a RuPay Corporate Card designed for seamless transactions and enhanced control over corporate expenses. It offers a new level of convenience and efficiency in managing company expenses with exclusive benefits, including a dedicated relationship manager, travel benefits, and individual/consolidated statements. A key feature is its ability to be linked to UPI applications such as Google Pay, Paytm, and PhonePe for easy payments. The card operates under a Corporate Liability program where the bank assigns a credit limit to the corporate, which can then be bifurcated to individual cards based on company policies and requirements, following a complete credit assessment.

Welcome Benefits

• No specific welcome benefits are mentioned for this card.

Fees

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

Rewards

• Corporate Identity (4th Line Embossing):
  • The company's name can be embossed on the card, providing an employee's corporate identity.
  • A maximum of 19 characters (inclusive of spaces and department name) are available for customization.
  • The corporate name as entered on the individual application form will be embossed.
• Designated Relationship Manager:
  • An IndusInd Bank Commercial Cards designated relationship manager is available for 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:
  • The bank offers a "One Account, One Payment" solution, allowing corporates to make one consolidated payment for all employee cards.
  • The corporate takes on the responsibility of allocating the payment to individual employee cards.
  • The total amount due for the company will be mentioned on the Corporate consolidated statement, and the company is liable to make one payment to the bank for this total.
• Dedicated Customer Service:
  • 24*7 Customer Service officials are available for emergencies on the Toll Free Number 1860 267 7777 or via email at corporate.cards@indusind.com.
• Corporate Card on UPI:
  • The eSvarna RuPay Card can be linked to popular UPI apps like BHIM, PhonePe, Paytm, and Google Pay.
  • Steps to link: Open UPI app, select "Add Credit Card/Link Credit Card", select IndusInd Bank, select your IndusInd Bank Platinum RuPay Credit Card (eSvarna Card), then proceed to generate UPI PIN.
  • Steps to set UPI PIN: Select "Generate PIN", select IndusInd Bank RuPay Card, enter the last 6 digits and expiry date of your eSvarna Card, enter the OTP sent to your registered mobile number, and set your desired PIN.
  • Steps for UPI Payments: Scan a Merchant QR Code or enter a Merchant UPI ID, enter or pay the auto-fetched amount, select eSvarna RuPay Card from payment options, enter your UPI PIN, and confirm.
• Complimentary Airport Lounges:
  • Enjoy 8 complimentary domestic airport lounge visits in India per year.
  • Enjoy 2 complimentary international lounge visits per year.
• Fuel Surcharge Waiver:
  • A 1% surcharge waiver is applicable at all fuel stations on transactions between ₹ 500 to ₹ 10,000.
• Insurance Coverage: The card comes with comprehensive insurance protection:
  • Counterfeit Fraud: Covers instances where the card or card details are stolen and used fraudulently by producing counterfeit plastic.
  • Lost Card Liability: Covers unauthorized transactions on the card after the loss is reported to the bank.
  • Travel Insurance: Provides coverage for loss of passport, loss of ticket, baggage delay, missing connecting flight, and air accident death.
• Movie & Dining: Not applicable
• Rewards Rate: Not applicable
• Golf: Not applicable

Card Review

The IndusInd Bank eSvarna Corporate Card is a robust offering from IndusInd Bank, specifically tailored for corporates to manage and control business expenses efficiently. It stands out with its seamless integration with UPI, allowing for quick and convenient digital payments for employees. The card’s benefits extend beyond basic expense management, offering valuable perks like complimentary domestic and international airport lounge access, a fuel surcharge waiver, and comprehensive insurance coverage for both fraud and travel-related incidents. For corporates, the dedicated relationship manager, consolidated payment options, and customized card embossing add significant value by simplifying administrative tasks. While it lacks traditional rewards points, movie, or dining benefits, its focus on operational efficiency, travel convenience, and security makes it an excellent tool for businesses aiming to streamline their financial operations and empower their employees with a versatile corporate payment solution.

Important Product Details

• This is a corporate credit card.
• Issued on the RuPay Network, enabling UPI payments.
• No joining or renewal charges.
• Provides 8 complimentary domestic airport lounge visits annually.
• Provides 2 complimentary international lounge visits annually.
• Offers a 1% fuel surcharge waiver on transactions between ₹ 500 to ₹ 10,000.
• Includes comprehensive insurance benefits: Counterfeit Fraud, Lost Card Liability, and Travel Insurance (covering loss of passport, ticket, baggage delay, missing connecting flight, and air accident death).
• Features a designated relationship manager for corporate queries.
• Enables individual and consolidated e-statements.
• Allows for consolidated payment by the corporate for all employee cards.
• Offers 4th Line Embossing to display the company's name on the card (up to 19 characters).
• Foreign currency markup is 3.5%.
• Cash advance charges are 3.35%.
• Interest rates are stated as Nil.
• No specific welcome benefits, rewards rates, movie & dining, or golf benefits.

Other Details

• How to Apply / Contact:
  • For queries, clarifications, or to apply for an IndusInd Bank Commercial Card, you can:
    • E-Mail: Write to corporate.cards@indusind.com
    • Phone Banking: Call their 24*7 Customer Service officials on the toll-free number 1860 267 7777.
• Important Documents & Information Links:
  • Safety Tips on your Corporate Card
  • Most Important Terms & Conditions (MITC)
  • Cardholders' Agreement (CHA)
  • Code of Bank's commitment to customers
  • Benefit Guide
  • Key Facts Sheet
  • Payment options Terms & Conditions
  • Fuel Surcharge Waiver Terms & Conditions
  • FAQs for UPI on Credit Card