IndusInd Bank Vrddhi Business Card – Benefits, Fees & Eligibility

Introduction

The IndusInd Bank Vrddhi Business Card is a specialized offering from IndusInd Bank, positioned as a robust solution for businesses to manage their professional credit expenditures. This card stands out by rewarding every transaction, offering 2 Reward Points on every Rs. 100 spent domestically and 4 Reward Points on every Rs. 100 spent internationally. Key differentiating benefits include complimentary domestic lounge access, a low foreign currency markup, and a competitive interest rate, making it ideal for business owners who travel frequently and seek to optimize their business expenses.

Welcome Benefits

• Vouchers worth Rs. 10,000 from popular brands such as Pantaloons, Bata, Raymond, Hush Puppies, PVR, and Sleepwell.
• Welcome benefits are applicable subject to the payment of joining fees.
• Cardholders must contact the bank for the welcome gift vouchers within 120 days of paying the joining fees.
• The e-voucher will be valid for a period of six months.

Fees

• Joining Fee: Rs. 10,000 + GST.
  • Waiver of joining fee if spends of Rs. 4 lakh are made within 90 days of card issuance.
• Annual Fee: Rs. 4,999 + GST.
  • Waiver of annual fee if spends of Rs. 1 lakh or more are made in a card anniversary year.
• Rewards Redemption Fee: Not applicable.
• Foreign Currency Markup: 1.89% of the total amount.
• Interest Rates: 1.99% Monthly & 23.88% Yearly.
• Fuel Surcharge: 1% waiver on fuel transactions across all petrol pumps on transactions between Rs. 500 to Rs. 10,000 (subject to a minimum of Rs. 10).
  • Service tax levied on fuel surcharge will not be waived and must be borne by the cardholder.
  • IndusInd Bank reserves the right to impose a cap on the maximum value or number of fuel transactions permitted in a month.
• Cash Advance Charges: Not applicable.

Rewards

• Reward Points Earning:
  • 2 Reward Points for every Rs. 100 spent on domestic transactions.
  • 4 Reward Points for every Rs. 100 spent on international transactions.
  • 1,000 Reward Points on making six utility bill payments within the first six months of card issuance.
  • 100 Reward Points for making early credit card bill payments.
• Dining: 100% Dining Discount up to Rs. 250 with EazyDiner.
• Travel:
  • 3 complimentary domestic lounge visits per quarter, totaling 12 visits in a year.
  • Access at the lounge is given upon successful authorization of the Visa card on electronic terminals.
  • Eligible cardholders get access to the lounge, food & beverages as per the agreement between Visa and the lounge.
  • An authorization for Rs. 2 will be taken for validation purposes only and will not be charged.
• Insurance Benefits: Travel & Business Insurance is included.
  • Domestic Travel Coverage:
    • Medical Expenses – Accidents Only: Sum Insured (INR) 1,00,000
    • Accidental Death – (Common Carrier Only): Sum Insured (INR) 1,00,000
  • International Travel Coverage:
    • Medical Expenses – Accidents Only: Sum Insured (US $) 1,250
    • Accidental Death – (Common Carrier Only): Sum Insured (US $) 1,250
  • Business Insurance Coverage:
    • Burglary (Contents Including Stocks): Sum Insured Rs. 3,00,000
    • BSUS (Contents Including Stocks): Sum Insured Rs. 3,00,000
• Lifestyle & Other Offers: Enjoy a host of offers across categories like apparel, travel, entertainment, and lifestyle through Visa offers.

Rewards Redemption Guide

• Reward Points can be redeemed at IndusMoments.

Card Review

The IndusInd Bank Vrddhi Business Card is a comprehensive offering designed to cater to business-related expenses. While it carries a relatively high joining fee, the substantial welcome benefits, robust reward points system, and additional perks like lounge access and insurance coverage make it a compelling choice for business users. The card offers significant value, especially for those who can leverage the spend-based fee waivers (joining fee waiver on Rs. 4 lakh spends within 90 days and annual fee waiver on Rs. 1 lakh spends in a year). Applicants should assess their spending patterns to ensure the card's benefits align with their financial objectives.

Pros

• Low monthly interest rate of 1.99%.
• Complimentary domestic lounge access.
• Comprehensive travel and business insurance benefits.
• Attractive welcome benefits worth the joining fee.
• Low foreign currency markup.

Cons

• The joining fee of Rs. 10,000 + GST is relatively high, although it can be waived.
• There are no specific golf or movie benefits associated with this card (beyond dining discounts).

Important Product Details

• Low monthly interest rate of 1.99%.
• Earn 2 Reward Points for every Rs. 100 spent domestically and 4 Reward Points on international spends.
• 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 10,000.
• 3 complimentary domestic lounge visits per quarter.
• Includes Travel and Business Insurance.
• Welcome vouchers worth Rs. 10,000.
• Joining fee waiver on spends of Rs. 4 lakh within 90 days of card issuance.
• Annual fee waiver on spends of Rs. 1 lakh or more in a card anniversary year.
• 100% dining discount up to Rs. 250 with EazyDiner.
• 1,000 Reward Points on six utility bill payments within the first six months.
• 100 Reward Points for early credit card bill payments.

Other Details

• The card is a Visa Infinite card.
• It helps consolidate business expenses and provides an interest-free credit period to increase spending capacity.
• The card can be used for both offline and online spends, earning reward points on both.
• The card can be used outside of India.
• To apply for the card, individuals can visit their nearest branch or apply online via the IndusInd Bank website.
• For queries or to apply, contact 24/7 Customer Service at 1860 267 7777 or email priority.care@indusind.com.
• Visa offers cannot be combined with any other offer, scheme, or promotion extended by program partners.
• General Terms & Conditions apply to all benefits, including those for Visa/Mastercard/Other Network Offers, Fuel Surcharge Waiver, and Visa Domestic Airport Lounge Access.
• Any disputes regarding delivery, service, quality, or performance of products/services must be addressed directly to the associated service providers.
• IndusInd Bank and its business associates reserve the right to change the Terms & Conditions of the program at any time without prior notice.
• The domestic airport lounge program is applicable in select lounges in India via Visa’s service providers, subject to cardholder level limits, and can be modified, amended, changed, or revoked anytime by Visa without prior intimation. Access to lounges is on a first-come, first-served basis.