RBL Bank EasySaver Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL EasySaver Credit Card, issued by RBL Bank, is positioned as a mid-range credit card designed to offer significant savings, particularly on education and bill payments. It aims to add value to everyday spends with best-in-class rewards and vouchers, along with a beneficial fuel surcharge waiver and welcome rewards. The card is marketed as having the "power of four cards in one," complementing diverse spending habits and lifestyles.

Welcome Benefits

• Earn 1,000 Reward Points upon payment of the annual fee and minimum spends of INR 2,000 within 30 days of card issuance.
• Welcome rewards are not applicable for First Year Free cards.

Fees

• Joining Fee

  • INR 499 + Service Tax (or GST).

• Renewal Fee

  • INR 499 + Service Tax (or GST).

• Rewards Redemption Fee

  • INR 99 + GST, levied once for all redemptions made in a single day.

• Interest Rates

  • Finance Charges: 47.88% per annum.

• Fuel Surcharge

  • Waiver of up to INR 100 per month.
  • Applicable on minimum fuel transactions of INR 500 and maximum of INR 4,000.

• Cash Advance Charges

  • Processing fee of 2.5% applicable on Easy Cash withdrawals.
  • Minimum processing fee of INR 500.

Rewards

• General Spends: Earn 1 Reward Point for every INR 400 spent on most categories (equivalent to approximately 0.3% reward rate on categories like Groceries, Clothing and Fashion, Technology and Electronics, Food and Dining, Entertainment, Travel and Leisure).
• Accelerated Rewards: Earn 8 Reward Points for every INR 400 spent on Education and Bill Payments (equivalent to a 2.0% reward rate on Utilities).
• Reward Point Value: 1 Reward Point = INR 0.25.
• Annual Rewards: Potential annual rewards worth INR 1,500+.
• Reward Exclusions:
  • Effective November 13, 2023, transactions on Insurance, Rent Payments, and Wallet Load categories will not earn reward points.
  • Effective October 15, 2024, transactions on Fuel & Auto, Quasi-Cash, Railways, Real Estate, Service Providers, Government Services, Contracted Services, Bills2pay, EMI, Miscellaneous, and Cash categories are not eligible for reward points.
  • Transportation category earns zero reward points.
• Lounge Access: Zero domestic and international airport lounge access.
• Milestone Benefits: Not available.
• Luxury Benefits: Zero golf rounds and lessons.
• Bundled Insurance: Not available for Life, Health, Travel, or Credit Liability Cover.

Rewards Redemption Guide

• A reward redemption fee of INR 99 + GST is applicable when redeeming your available reward points.
• This fee is levied only once for all redemptions made in a single day.
• Reward Points can be redeemed at rblrewards.rbl.bank.in.
• The conversion rate for Reward Points is 1 RP = INR 0.25.

Card Eligibility Criteria

• Age: Must be between 21 and 70 years.
• Employment Status: Must be salaried.
• Residency: Available only for Indian residents.

Card Review

The RBL EasySaver Credit Card is well-suited for individuals who have significant recurring expenses in education and bill payments, as these categories offer an accelerated reward rate. It also provides a useful fuel surcharge waiver, making it a decent option for daily commuters. However, the card comes with a high annual interest rate and a broad list of categories excluded from earning reward points, which might limit its overall value for diverse spending patterns. It lacks premium benefits like lounge access, milestone rewards, or bundled insurance, positioning it as a basic to mid-tier card focused on specific savings.

Important Product Details

• Positive Highlights:
  • Earn 8 Reward Points for every INR 400 spent on Education and Bill Payments.
  • Fuel surcharge waiver of up to INR 100 per month.
  • Welcome benefit of 1,000 Reward Points.
  • "Easy Cash" facility allows unlimited ATM withdrawals up to the available cash limit.
  • Potential annual rewards worth INR 1,500+.
• Negative Highlights:
  • High finance charges of 47.88% per annum.
  • Reward redemption fee of INR 99 + GST.
  • Extensive list of categories (including Insurance, Rent, Wallet Load, Fuel, EMI, Government Services, etc.) are excluded from earning reward points.
  • No domestic or international airport lounge access.
  • No milestone benefits, luxury benefits (golf), or bundled insurance covers.

Other Details

• The "Easy Cash" feature allows unlimited withdrawal of your available cash limit from all ATMs in India up to your billing date, subject to a processing fee of 2.5% (minimum INR 500).
• Categories/MCCs for reward point exclusions are defined as per VISA & Mastercard guidelines.
• The card has an external "1 Finance Score" of 20/100 and ranks 278th out of cards in its fee segment.
• General credit card information highlights that credit cards offer cashbacks, reward points, air miles, dining discounts, instant discounts, and exclusive partner offers. Points can be redeemed for flights, hotels, product purchases, cash vouchers, and air miles. Bundled insurance on credit cards may eliminate separate travel insurance needs. Wise credit card usage can reduce expenses by up to 15%. Maintaining low credit utilisation and timely credit card payments improves your credit score. Credit cards can provide emergency financial support during unexpected situations.
• Links to Most Important Terms and Conditions, Cardmember Agreement, Schedule of Charges, and ways of making payment are available for further details.