RBL Bank DMI Finance Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank DMI Finance Credit Card is an entry-level co-branded credit card launched by RBL Bank and DMI Finance, designed for budget-conscious users. It offers a nominal joining fee of ₹499 + GST and provides a range of benefits including accelerated reward points on online and offline spending, welcome benefits such as bonus reward points and a BookMyShow voucher, and valuable milestone benefits. Cardholders can also enjoy entertainment perks like Buy-One-Get-One-free movie tickets and a fuel surcharge waiver, making it a valuable addition for everyday spending and entertainment privileges.

Welcome Benefits

• Receive a warm welcome of 2,000 Reward Points.
• Get an INR 200 BookMyShow Voucher on card activation.
• To avail the welcome benefit, users must swipe and use their card within 30 days of card issuance and pay the annual membership fee by the payment due date.
• The welcome benefit will be credited to your account within 60 days from the date of card issuance once the transaction and fee payment criteria are met.
• The BookMyShow voucher will be available within 7 days from activation and can be directly availed on the BookMyShow mobile app or website while booking movie tickets.
• This is a one-time offer for new card members upon payment of the annual fee.

Fees

• Joining Fee: ₹499 + GST
• Annual Fee: ₹499 + GST
• Spend-Based Waiver: Not applicable for the annual fee.
• Rewards Redemption Fee: ₹99 + GST, levied one time for redemptions made in a single day.
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.99% per month or 47.88% per annum
• Fuel Surcharge: 1% fuel surcharge waiver up to ₹100 per month on transactions between ₹500 to ₹4,000.
  • No waiver for fuel purchases of ₹499 or lower (₹10 surcharge applies).
  • No waiver for fuel purchases of ₹4,001 and above (1% surcharge applies).
• Cash Advance Charges: 2.5% of the cash amount or a minimum of ₹500.

Rewards

• Rewards Rate:
  • Earn 2 Reward Points for every ₹100 spent online.
  • Earn 1 Reward Point for every ₹100 spent in-store (offline).
• Monthly Cap: Avail a maximum of 500 Reward Points per billing cycle month.
• Reward Point Value: 1 Reward Point = ₹0.25.
• Reward Point Credit: Reward points earned in a given month will be credited to your account within 45 days from the purchase settlement date.
• Exclusions for Earning Reward Points: Reward Points cannot be earned for transactions on railways, fuel & auto, utilities, wallet, real estate, government services, insurance, education, contracted services, cash, EMI, miscellaneous categories, Bills2Pay, and EMI conversion of retail transactions (Split-N-Pay & EMI conversion requests placed at the time of making transactions at POS/Web/Mobile App).
• Milestone Benefits:
  • Quarterly Spend: Shop for ₹50,000 in a quarter to get 2,000 bonus Reward Points.
  • Annual Spend:
    • Shop for ₹2 Lakh in a year to unlock an Amazon voucher worth ₹500.
    • Shop for ₹3 Lakh in a year to enjoy an additional Swiggy voucher worth ₹200.
  • Reward points earned for milestones will be credited to your account/vouchers will be delivered within 45 days from the date of crossing the mentioned threshold.
  • Certain categories of purchases (railway transactions, fuel, auto, utilities, insurance, cash, EMI, etc.) are excluded from qualifying for milestone benefits.
• Entertainment Perks (Movie Tickets):
  • Enjoy a Buy-One-Get-One-free movie ticket offer worth up to ₹200 when you spend ₹5,000 in a billing cycle month.
  • This offer is valid for booking movie tickets through the BookMyShow mobile app or website using the primary card.
  • The offer will be activated on the next day of the start of the billing cycle and will remain valid till the end of it.
  • This benefit is not applicable to add-on cards.
  • Once purchased, movie tickets cannot be canceled, refunded, or exchanged.

Rewards Redemption Guide

• Reward Points can be redeemed for vouchers, hotel stays, air tickets, shopping vouchers, and much more through the RBL Rewards portal at rblrewards.rbl.bank.in.
• A Reward Redemption Fee of ₹99 + GST is applicable for redemptions.

Card Review

The RBL Bank DMI Finance Credit Card is an excellent choice for individuals seeking a budget-friendly card with substantial benefits. With a low joining fee of just ₹499 plus taxes, it offers a compelling value proposition.

Pros:

• Comes with a nominal fee of ₹499 plus taxes.
• Reward Points can be redeemed for air travel, hotel stays, shopping vouchers, and much more.
• Offers welcome benefits including 2,000 bonus Reward Points and a BookMyShow movie voucher.
• Provides rewarding milestone benefits, including bonus points and Amazon/Swiggy vouchers for annual spending.
• Includes entertainment perks with a Buy-One-Get-One-free movie ticket offer.
• Features a 1% fuel surcharge waiver up to ₹100 on transactions between ₹500 to ₹4,000, which is beneficial for frequent drivers.

Cons:

• Does not include any travel perks such as domestic or international lounge access.
• This card does not offer any spend-based waiver for its annual fee.

Overall, if you prioritize everyday spending rewards and entertainment privileges without a high annual fee, the RBL Bank DMI Finance Credit Card is a top choice that offers real benefits.

Important Product Details

• Nominal joining and annual fee of ₹499 + GST.
• Welcome benefit includes 2,000 Reward Points and a complimentary BookMyShow movie voucher worth ₹200.
• Earn 2 Reward Points for every ₹100 spent online and 1 Reward Point for every ₹100 spent offline.
• Monthly cap of 500 Reward Points per billing cycle.
• Milestone benefits include 2,000 bonus Reward Points on spending ₹50,000 quarterly.
• Annual milestone benefits offer an Amazon voucher worth ₹500 on spending ₹2 Lakh and a Swiggy voucher worth ₹200 on spending ₹3 Lakh.
• Enjoy a Buy-One-Get-One-free movie ticket offer up to ₹200 on BookMyShow when spending ₹5,000 in a month.
• 1% fuel surcharge waiver up to ₹100 per month on transactions between ₹500 to ₹4,000.
• Foreign currency markup of 3.5%.
• High interest rate of 3.99% per month (47.88% per annum).
• Reward Points cannot be earned on specific categories like fuel, utilities, insurance, and wallet transactions.

Other Details

• There is a revenue sharing arrangement between RBL Bank & DMI Finance for this card.
• For any grievance, cardholders can write to cardservices@rbl.bank.in or contact the nodal officer.
• Details of activities engaged by the co-brand partner, DMI Finance Pvt Ltd, are available.
• Information regarding the RBI Sachet Portal is provided.
• Detailed Terms and Conditions, Most Important Terms and Conditions, and Cardmember Agreement are available on the bank's website.