RBL Bank Novio Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Novio Credit Card, issued by RBL Bank in collaboration with Credilio Financial Technologies Pvt LTD, is an affordable and budget-friendly option designed for everyday spending, particularly suitable for first-time credit card users. Operating on the RuPay Select network, it offers enhanced rewards for online transactions and provides convenient UPI payment support.

Welcome Benefits

• Receive 2,000 Reward Points when you make purchases of ₹5,000 within 30 days of card issuance.

Fees

• Joining Fee: ₹500 + GST
• Annual Fee: ₹500 + GST
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.99% per month (47.88% annually)
• Fuel Surcharge Waiver: 1% or ₹10, whichever is higher
• Cash Advance Charges: 2.5% of the Cash Amount (minimum ₹500)

Rewards

• Rewards Rate:
  • Earn 2 Reward Points per ₹100 for all online spends.
  • Earn 1 Reward Point per ₹100 for all other offline spends.
  • Rewards cannot be earned on transactions involving fuel and auto, Education, Railways, Insurance, Government Services, charges, GST, and more.
• Annual Milestone Benefit:
  • Earn a bonus of 1,000 Reward Points upon spending ₹1.5 lakhs in a year.
  • Earn a bonus of 2,000 Reward Points upon spending ₹3 lakhs in a year.

Card Review

The RBL Bank Novio Credit Card is an affordable option, especially for individuals seeking their first credit card. It offers a generous welcome bonus and valuable milestone rewards, making it an excellent choice for earning rewards on regular transactions. Its compatibility with UPI and the RuPay Select network adds significant convenience and flexibility for domestic use. However, the card may not provide the extensive lifestyle benefits or international acceptance found with other premium cards on the market.

• Pros:
  • Offers 2x the rewards on online spending.
  • Provides annual milestone benefits for bonus points.
  • Budget-friendly with a low annual fee.
  • Supports UPI payments for added convenience.
• Cons:
  • Lacks additional lifestyle perks or discounts.
  • May have limited international acceptance compared to other major networks like Visa or MasterCard.

Important Product Details

• The RBL Bank Novio Credit Card is a co-branded card with Credilio Financial Technologies Pvt LTD.
• It is available on the RuPay Select network and supports UPI payments.
• The card is a budget-friendly option for everyday spending.
• Cardholders earn 2 Reward Points for every ₹100 spent online and 1 Reward Point for every ₹100 spent offline.
• A welcome bonus of 2,000 Reward Points is awarded upon making purchases of ₹5,000 within 30 days of card issuance.
• Annual milestone benefits include 1,000 Reward Points on spending ₹1.5 Lakh in a year and 2,000 Reward Points on spending ₹3 Lakh in a year.
• The annual fee is ₹500 + GST.
• The interest rate is 3.99% per month (47.88% annually).
• A foreign currency markup of 3.5% applies.
• Cash advance charges are 2.5% of the cash amount, with a minimum of ₹500.
• A fuel surcharge waiver of 1% or ₹10, whichever is higher, is provided.
• A rewards redemption fee of ₹99 + GST is applicable.

Other Details

• The card is ideal for domestic use and UPI payments.
• As a RuPay card, it may have limited international acceptance compared to other major networks like Visa or MasterCard.