Karnataka BankKarnataka Bank MoneyPlant RuPay MUDRA Debit Card – Benefits, Fees & Eligibility
Is the Karnataka Bank MoneyPlant RuPay MUDRA Debit Card Right for You?
The Karnataka Bank MoneyPlant RuPay MUDRA Debit Card is best suited for users who prioritize Shopping, Dining, Everyday Use. With an issuance fee of Lifetime Free and an annual maintenance charge of Lifetime Free, this card offers free entry for new applicants. It offers Merchant Vouchers, Instant Discounts as its primary reward mechanism.
Key Card Details
Lifetime Free
Lifetime Free
Merchant Vouchers, Instant Discounts
₹25,000 per day
₹75,000 per day
Notable Perks
Dining Benefits
15% off on the food bill at US Pizza
Account Requirement
Requires a working capital loan up to ₹10,00,000 under Pradhan Mantri Mudra Yojana (PMMY)
Things to Consider
No reward points or cashback program on regular spends
Daily ATM and POS limits are relatively low for business needs
Lacks travel, lounge access, or insurance benefits
Benefits & Features
Reward Type
Merchant Vouchers, Instant Discounts
Dining Benefits
15% off on the food bill at US Pizza
Daily ATM Withdrawal Limit
₹25,000 per day
Daily POS/Online Spend Limit
₹75,000 per day
Account Requirement
Requires a working capital loan up to ₹10,00,000 under Pradhan Mantri Mudra Yojana (PMMY)
Fees & Charges
Issuance Fee
Lifetime Free
AMC Fee
Lifetime Free
ATM Withdrawal Charges
Additional fees may apply for non-network ATM usage
Pros & Cons
Pros
Key benefits and features of this card.
Tailored for micro-entrepreneurs with working capital needs up to ₹10 lakh
Access to exclusive health, wellness, and shopping merchant offers
Auto-activation for POS transactions after first ATM use ensures convenience
Enhanced security features with SMS alerts and instant card blocking
Cons
Key drawbacks and limitations of this card.
No reward points or cashback program on regular spends
Daily ATM and POS limits are relatively low for business needs
Lacks travel, lounge access, or insurance benefits
Fees and charges for non-network ATM usage are not clearly defined
Product Details
Issued on the RuPay payment network for domestic transactions
Designed specifically for micro-enterprises under PMMY scheme
Auto-activated for merchant transactions 24 hours after first ATM cash withdrawal
Secure ATM withdrawals and merchant banking with enhanced fraud protection
24/7 emergency helpline and SMS-based card blocking available
Benefits & Features
Reward Type
Merchant Vouchers, Instant Discounts
Dining Benefits
15% off on the food bill at US Pizza
Daily ATM Withdrawal Limit
₹25,000 per day
Daily POS/Online Spend Limit
₹75,000 per day
Account Requirement
Requires a working capital loan up to ₹10,00,000 under Pradhan Mantri Mudra Yojana (PMMY)
What matters, explained clearly
Introduction
The KBL MoneyPlant RuPay MUDRA Card, issued by Karnataka Bank, is a specialized debit card designed to support the working capital needs of micro-enterprises and individuals under the Pradhan Mantri Mudra Yojana (PMMY). It is linked to accounts held by micro-entrepreneurs who have obtained working capital loans up to ₹10,00,000. The card's top differentiating benefits include its focus on meeting the unique capital needs of small businesses, secure ATM and merchant banking, and enhanced fraud protection.
Transaction Limits & Usage
- Daily ATM withdrawal limit is ₹25,000 at all ATMs, subject to available account balance.
- Daily Point of Sale (POS) limit is ₹75,000 at merchant establishments, subject to available account balance.
- The card is issued on the RuPay payment network.
- The card is automatically activated for payment transactions at merchant outlets within 24 hours of the first cash withdrawal at any MoneyPlant ATM or NFS ATM.
Fees and Charges
- Using an ATM outside of the bank's network may incur additional fees.
Rewards & Offers
- The card provides access to special and exclusive offers across various categories.
- Health & Wellness:
- VLCC Head-to-Toe Services at Rs. 3,499.
- Full Body Laser Hair Reduction at Rs. 44,444 for 6 sessions.
- VLCC Hydra Synergy Oxygenic Facial at Rs. 3,999.
- Summer Detan Facial at Rs. 825.
- Underarms Laser Hair Reduction at Rs. 999.
- Shopping:
- 10% off on all purchases from Himalaya Wellness on a minimum order value of Rs. 500 and above.
- Dining:
- 15% off on the food bill at US Pizza.
Account & Eligibility Criteria
- The card is designed for micro-entrepreneurs who have obtained working capital loans up to ₹10,00,000 under the Pradhan Mantri Mudra Yojana (PMMY).
- It is intended to help manage funds for trading, service, and manufacturing activities.
Important Product Details
- Designed specifically to meet the working capital needs of micro-enterprises and individuals.
- Provides secure ATM withdrawals and merchant banking.
- Offers enhanced security and protection against fraud.
Other Details
- To block the card or for assistance, a 24-hour emergency helpline is available at +91 802 202 1500.
- The debit card can be blocked via SMS by sending "BLOCK XXXX" (where XXXX is the last 4 digits of the card number) to +91 988 065 4321.
- For a lost or stolen card, customers can report it by emailing info@ktkbank.com or calling toll-free numbers 1800 425 1444 or 1800 572 8031.
- SMS banking provides automatic text alerts for transactions, including withdrawals and purchases, to help monitor activity and detect unauthorized use.
- The KBL Mobile Plus app can be downloaded from the Google Play Store or Apple App Store.