Paytm HDFC Bank Business Credit Card – Benefits, Fees & Eligibility

Introduction

The Paytm HDFC Bank Business Credit Card is a co-branded business credit card issued by HDFC Bank in partnership with Paytm, designed exclusively for Paytm customers and business professionals. Positioned as a mid-range offering, it provides quick loans for businesses at low-cost EMI options. Key benefits include a 3% cashback on all purchases made on Paytm for Recharge, Utility, Movies, and Mini App transactions, along with milestone benefits offering Gift Vouchers on annual spends and a waiver on fuel surcharges.

Welcome Benefits

• ₹250 worth Gift Voucher upon card activation with two transactions in the first 30 days (Non-EMI Spends).

Fees

• Joining Fee: ₹500 + GST
• Renewal Fee: ₹500 + GST
• Spend-Based Waiver:
  • First Year Fee waived off upon spending ₹30,000 (Non-EMI spends) within the first 90 days.
  • Renewal fee waived off upon spending ₹50,000 or more in the previous year.
• Rewards Redemption Fee: No Rewards Redemption Fee on redemption of Cash points towards cashback on statement.
• Foreign Currency Markup: 3.5% (plus applicable taxes)
• Interest Rates: 3.6% per month (43.2% annually)
• Fuel Surcharge: 1% fuel surcharge waived off for all transactions between ₹400 & ₹5,000. Maximum waived amount is capped at ₹250 per statement cycle.
• Cash Advance Charges: 2.5% of the amount transacted or a minimum of ₹500.
• Cash Withdrawal Benefit (Disabled): The feature for cash advance fee reversal for the first cash withdrawal transaction in a calendar month (capped at ₹500) has been disabled from April 01, 2023 onwards.

Rewards

• Cashback Program:
  • 3% cashback on all purchases on Paytm [Recharge + Utility + Movies + Mini App], with a maximum cap of ₹500 per calendar month.
  • 2% cashback on all other Paytm spends, with a maximum cap of ₹500 per calendar month.
  • 1% cashback on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends), with a maximum cap of ₹1000 per calendar month.
• Milestone Benefit: ₹500 worth of Gift vouchers on spending a minimum of ₹1 Lac in a year (Non-EMI Spends).
• Dining: Up to 20% discount on partner restaurants via Dineout.
• Travel: Cashbacks can be used to book hotel/flight bookings on Smartbuy.
• Lounge Access: Not applicable for Domestic or International lounge access.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.
• Lifestyle: Complimentary Paytm First membership on activation of card (minimum 1 transaction of ₹100 in 365 days).
• Business Loans: Quick loans for businesses with up to 50 interest-free days upon issuance.
• Contactless Payments: Enabled for fast, convenient, and secure payments at retail outlets (transactions up to ₹5,000; PIN required for amounts above ₹5,000).

Rewards Redemption Guide

• Cashback earned on the Paytm HDFC Bank Business Credit Card is given to the cardholder as Cashpoints.
• Cashpoints can be redeemed against the outstanding balance as cashback, where Re.1 Cashpoint = Re.1 Cashback.
• Cashpoints can also be used for redemption against travel benefits like Flight & Hotel bookings and the Rewards Catalogue at the SmartBuy Rewards Portal, where Re.1 Cashpoint = Re.0.3.
• Other redemption options include Airmiles & Product Catalog.

Card Review

The Paytm HDFC Bank Business Credit Card is particularly beneficial for individuals who frequently use Paytm for daily transactions, shopping on Paytm Mall, and bill payments. It offers a competitive 3% cashback on specific Paytm categories. However, its value diminishes for transactions outside the Paytm ecosystem, offering only 1% cashback on general retail spends. A notable drawback is the absence of complimentary airport lounge access, which might be a consideration for business cards. Despite these limitations, the card provides a fuel surcharge waiver and valuable milestone benefits, making it a rewarding option for dedicated Paytm users, especially given its lower annual charges compared to its premium counterpart.

Important Product Details

• Get 3% cashback on all purchases on Paytm [Recharge + Utility + Movies + Mini App], with a maximum cap of ₹500 per calendar month.
• Get 2% cashback on all other Paytm spends, with a maximum cap of ₹500 per calendar month.
• Get 1% cashback on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends), with a maximum cap of ₹1000 per calendar month.
• Zero cost liability on reporting a lost card to the bank’s 24-hour call center.
• Enjoy a 1% fuel surcharge waiver for transactions between ₹400 and ₹5,000, capped at ₹250 per statement cycle.
• Receive a ₹250 worth Gift Voucher upon card activation with two transactions in the first 30 days (Non-EMI Spends).
• Receive a ₹500 worth Gift Voucher on spending a minimum of ₹1 Lac in a year (Non-EMI Spends).
• The first year fee is waived upon spending ₹30,000 (Non-EMI spends) within the first 90 days.
• The renewal fee is waived upon spending ₹50,000 or more in the previous year.
• The card enables contactless payments.
• Offers quick loans for businesses, including up to 50 interest-free days upon issuance.
• The cash advance fee reversal benefit has been disabled from April 01, 2023.
• Up to 20% discount on partner restaurants via Dineout.
• Complimentary Paytm First membership on card activation (minimum 1 transaction of ₹100 in 365 days).

Other Details

• This credit card product has been discontinued.
• The credit limit for the Paytm HDFC Bank Business Credit Card can vary for different cardholders, depending on the applicant's income and several other factors.
• Revised features and annual membership charges for this card were effective from April 1, 2023.
• For any questions or concerns, customers can reach HDFC Bank customer care at 1800 1600 / 1800 2600.
• All discounts and offers are subject to applicable terms and conditions.