RBL Bank Novio Credit Card – Benefits, Fees & Eligibility

RBL Bank Novio Credit Card

Introduction

The RBL Bank Novio Credit Card, a co-branded offering with Credilio Financial Technologies Pvt LTD, is built on the RuPay Select network, allowing seamless integration with UPI for everyday transactions. Positioned as an affordable option, the card carries an annual fee of ₹500 + GST. It is particularly rewarding for online purchases, offering 2 Reward Points for every ₹100 spent, as opposed to 1 Reward Point for every ₹100 spent offline. New cardholders are welcomed with 2,000 Reward Points upon spending ₹5,000 within 30 days of issuance, and the card also provides annual milestone benefits, rewarding users for reaching specific spending thresholds.

Welcome Benefits

• Receive 2,000 Reward Points when you make purchases of ₹5,000 within 30 days of card issuance. This generous welcome bonus is designed to value you as a new customer.

Fees

• Joining Fee: ₹500 + GST
• Renewal Fee: ₹500 + GST
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.99% per month (equivalent to 47.88% annually)
• Fuel Surcharge: 1% or ₹10, whichever is higher
• Cash Advance Charges: 2.5% of the cash amount, with a minimum charge of ₹500

Rewards

• Rewards Rate:
  • Earn 2 Reward Points for every ₹100 spent on all online transactions.
  • Earn 1 Reward Point for every ₹100 spent on all other (offline) transactions.
  • 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.
• Movie & Dining Benefits: Not applicable
• Travel Benefits: Not applicable
• Domestic Lounge Access: Not applicable
• International Lounge Access: Not applicable
• Golf Benefits: Not applicable
• Insurance Benefits: Not applicable

Rewards Redemption Guide

• No specific guide for reward redemption is mentioned on the webpage, beyond the applicable redemption fee.

Card Review

• Pros:
  • Offers 2x the rewards on online spending, making it beneficial for digital transactions.
  • Provides Annual Milestone Benefits, offering bonus points for reaching spending targets.
• Cons:
  • Lacks additional Lifestyle Perks or Discounts.
  • As a RuPay card, it may have limited international acceptance compared to other major networks like Visa or MasterCard.
• Overall Verdict:
  • With an annual fee of ₹500 + GST, the RBL Bank Novio Credit Card is an affordable option.
  • It is an excellent choice for individuals seeking their first credit card due to its low annual fee, straightforward reward structure, and simple benefits.
  • Ideal for those looking to earn rewards through regular everyday transactions, supported by a generous welcome bonus and milestone rewards.
  • The card's compatibility with UPI and availability on the RuPay Select network enhances convenience and flexibility, making it ideal for domestic use.
  • While suitable for daily spending, it may not offer the extensive lifestyle benefits found with some other credit cards in the market.

Important Product Details

• The RBL Bank Novio Credit Card is a co-branded credit card from RBL Bank and Credilio.
• It has an annual fee of ₹500 + GST, positioning it as a budget-friendly option for everyday use.
• The card supports UPI payments and operates on the RuPay Select network, offering ease of use.
• Cardholders earn 2 Reward Points for every ₹100 spent online.
• Cardholders earn 1 Reward Point for every ₹100 spent offline.
• A welcome bonus of 2,000 Reward Points is provided upon spending ₹5,000 within the first 30 days of card issuance.
• Annual Milestone Benefits include 1,000 Reward Points for spending ₹1.5 lakhs and 2,000 Reward Points for spending ₹3 lakhs in a year.
• The card does not offer additional lifestyle perks or discounts.
• It has limited international acceptance compared to major networks but is ideal for domestic use and UPI payments.

Other Details

• Best Suited For: Shopping
• Reward Type: Reward Points
• The card operates on the RuPay Select network.
• It is fully supported for UPI transactions, ensuring convenient everyday use.