RBL Bank Aspire Banking Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Aspire Banking Credit Card is an exclusive offering from RBL Bank, specifically designed for its Aspire Banking customers. Positioned as a cashback-focused card, it aims to provide significant savings on everyday spending. Key differentiating benefits include up to 3% cashback on specific categories, a potential annual yield of 15.9% when combined with Aspire Banking relationship benefits, and a zero annual fee for Aspire Banking customers.

Fees

• Joining Fee: ₹1,500 + GST
• Annual Fee: ₹1,500 + GST
• Spend-Based Waiver: The annual membership fee is waived off for Aspire Banking customers, making the card lifetime free for them.
• Rewards Redemption Fee: Not applicable on cashback redemption. A general Rewards Redemption Fee of ₹99 + GST may apply for other reward types.
• Foreign Currency Markup: 3.5%
• Interest Rates: Up to 3.99% Per Month or 47.88% Per Annum
• Fuel Surcharge Waiver: 1% Fuel Surcharge Waiver
• Cash Advance Charges: 2.5% (Minimum ₹500)

Rewards

Cashback Program

• Earn unlimited 3% cashback on purchases made across categories like Flights, Hotels, Shop & Vouchers when made on the RBL Bank Rewards Portal.
• Enjoy 1% cashback on all other eligible purchases, capped at INR 1,000 per billing month.
• Your cashback will be credited directly to your RBL Bank Savings Account.
• Excluded Categories for Cashback, Milestone Benefits & Lounge Benefits: Fuel, Utilities, Insurance, Quasi-Cash, Railways, Real Estate/Rental, Education, Wallet/Service Providers, Government Services, Contracted Services, Cash, Miscellaneous, Bills2Pay, and EMI conversion of retail transactions (this includes converting retail transactions to EMI, Split-N-Pay, and EMI conversion requests placed at the time of making transactions at POS/Web/Mobile App).

Milestone Benefits

• Earn INR 1,500 cashback if you make eligible purchases of INR 3 lacs in a membership year.
• Earn an additional INR 3,000 cashback if you make eligible purchases of INR 5 lacs in a membership year.
• Transactions related to Bills2Pay and EMI will not qualify for milestone benefits.

Airport Lounge Access

• Get 1 complimentary domestic lounge visit in India per calendar quarter.
• Eligibility for lounge access requires eligible purchases of INR 35,000 or more in the previous calendar quarter.
• Unused airport lounge visits shall not be carried forward.

Movie Benefits

• Buy 1 Movie Ticket & Get 1 Free on the purchase of 2 or more Movie Tickets on BookMyShow every month.
• The discount is capped at INR 150 per month.

Rewards Redemption Guide

• Cashback earned through the card is transferred directly to your RBL Bank Savings Account.
• Redemption fee is not applicable on cashback redemption.

Card Eligibility Criteria

• This card is designed exclusively for Aspire Banking customers.

Card Review

• Overall Verdict: The RBL Bank Aspire Banking Credit Card is a strong choice for Aspire Banking customers who prioritize cashback and seek a simple, rewarding card for their everyday spending. Its biggest highlight is the tiered cashback structure, offering a robust 3% on specific portal spends and a consistent 1% on other eligible transactions. The card further enhances its value with attractive milestone benefits for high spenders and lifestyle perks like complimentary domestic lounge access and movie ticket offers. Being lifetime free for Aspire Banking customers significantly boosts its appeal and overall value proposition.
• Pros:
  • Can be availed as lifetime free for those with an Aspire Banking relationship.
  • Offers unlimited 3% cashback on purchases made via the RBL Bank Rewards Portal.
  • Provides additional cashback of up to ₹4,500 through milestone benefits for high annual spends.
  • Includes complimentary domestic airport lounge access and a Buy One Get One Free movie ticket offer.
  • Cashback is directly credited to the RBL Bank Savings Account.
• Cons:
  • The 1% base cashback is capped at ₹1,000 per billing cycle, which might be considered low for very high spenders outside the RBL Rewards Portal.
  • Cashback, milestone, and lounge benefits are subject to exclusions on certain transaction categories.

Important Product Details

• The RBL Bank Aspire Banking Credit Card is designed exclusively for Aspire Banking customers.
• Cardholders can earn up to 3% cashback on purchases made through the RBL Bank Rewards Portal and 1% cashback on other eligible transactions.
• The card contributes to an annual yield of 15.9% when combined with Aspire Banking savings and fixed deposit benefits.
• It carries an annual membership fee of INR 1,500, which is waived off for Aspire Banking customers.
• Cardholders receive 1 complimentary domestic airport lounge visit per calendar quarter upon making eligible purchases of INR 35,000 or more in the previous quarter.
• Enjoy a Buy 1 Get 1 Free offer on movie tickets via BookMyShow every month, with a discount cap of INR 150.
• Milestone benefits allow cardholders to earn up to ₹4,500 cashback on annual spends of ₹5 lacs.
• Cashback earned is directly credited to the RBL Bank Savings Account.
• Specific categories such as Fuel, Utilities, Insurance, and EMI conversions are excluded from cashback, milestone, and lounge benefits.

Other Details

• Customers can earn up to 6% Annual Interest on their Savings Account with an Aspire Banking Relationship.
• Customers can earn up to 7.2% Annual Interest on their Fixed Deposit with an Aspire Banking Relationship.
• The credit card benefits can contribute annual benefits up to INR 17,100 with a value back of 3.4% & Cash value back of 2.2%.
• Refer to the Product Terms & Conditions, Most Important Terms and Conditions, and Schedule of Charges for complete details and exclusions related to the card.