RBL Bank Purchase Tax Plus Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Purchase Tax+ Card is a specialized commercial credit card designed for businesses to streamline corporate tax payments, compliance fees, and other mandatory payments. Positioned as a corporate expense management solution, it offers up to 35 days of interest-free credit, robust fraud liability coverage of INR 20,00,000, and exclusive access to platforms like Nuclei for SaaS discounts and XOXO Day for discounted gift cards, enhancing financial control and visibility over transactions.

Fees

• Joining Fee: NIL
• Annual Fee: NIL
• Foreign Currency Markup: 3%
• Late Payment Fee: 2% on total outstanding amount (minimum INR 300 and maximum INR 10,00,000)
• For more details on charges, refer to the Schedule of Charges document.

Rewards

• Up to 35 days of interest-free credit for enhanced liquidity.
• Flexibility to choose from multiple billing cycles for better cash flow management.
• Robust Fraud Liability Coverage of INR 20,00,000 for lost card and fraud.
• Centralized payments for clear expense visibility and consolidated payment processing.
• Exclusive discounts on SaaS tools through the Nuclei platform to maximize business savings.
• Access to the XOXO Day platform for purchasing gift cards at discounted prices, simplifying corporate gifting, employee rewards, and client recognition.
• Exclusive CorpCard Hub access for overall visibility, real-time insights, and streamlined operations for commercial card management.
• Restricted use of the card based on transaction limits and merchant categories for enhanced control.
• Tailored for centralized tax and compliance payments.

Rewards Redemption Guide

• To redeem reward points, visit www.rblrewards.com.
• New customers need to sign up using their registered email ID.
• Existing customers can log in using their username and password.
• Once logged in, accumulated reward points will be visible and can be redeemed for customized gifts and vouchers from multiple brands and merchants.
• In case accumulated reward points are not visible, an email can be sent to corporatecard.support@rbl.bank.in.

Important Product Details

• Positive Highlights:
  • NIL Joining and Annual fees.
  • Up to 35 days of interest-free credit.
  • Robust Fraud Liability Coverage of INR 20,00,000.
  • Access to exclusive platforms like Nuclei (for SaaS discounts) and XOXO Day (for discounted gift cards).
  • Centralized management and visibility through CorpCard Hub.
  • Multiple billing cycles for cash flow flexibility.
  • Specifically designed for corporate tax and compliance payments.
  • Credit limit does not appear in the personal bureau score of individual cardholders as it's a corporate liability product.
  • Option for secured FD-based commercial cards with high interest rates on FD.
• Considerations:
  • Foreign Currency Markup of 3%.
  • Late Payment Fee of 2% on total outstanding amount.
  • Card use can be restricted based on transaction limits and merchant categories.
  • Insurance covers are standard product features and cannot be customized.
  • For FD-backed cards, the FD cannot be closed midway, though partial withdrawal may be possible depending on credit limit and deposit amount.

Other Details

• What are Commercial Cards? Also known as Corporate Credit Cards, they are designed for businesses to manage corporate expenses, offering enhanced expense tracking and convenience.
• Types of Commercial Cards RBL Bank offers: RBL Bank offers "Corporate T&E Cards" for managing employee travel expenses and "Corporate Purchase Cards" for managing other business payments like vendor, utility, and tax.
• Minimum Validity Period: The RBL Bank Commercial Card facility is provided for a period of 1 year and is renewed annually based on the bank’s discretion.
• Who uses Commercial Cards? Commercial Cards are used by corporate employees for business-related expenses, streamlining expense management and improving financial control.
• Benefits of Commercial Cards: Include efficient expense tracking, enhanced control over business expenses, and a simplified approach to expense management.
• Welcome Kit: A package sent to customers upon successful application, including the physical card, a letter with usage information, benefits, and all fees and charges.
• How to set PIN: Visit www.rbl.bank.in/cardpin, validate card details, and set a PIN.
• Lost/Misplaced Card: Block the card immediately to avoid misuse by calling customer care at 022 - 62327777.
• How to make payments: Payments can be made instantly via Online Card Payment, NEFT, Net Banking, or payment via cheque at an RBL Bank Branch.
• Contactless Functionality: If contactless functionality does not work initially, activate the card by performing a transaction with PIN insertion, after which contactless should work.
• Flexi Limit (for Corporate T&E Card): Simplifies credit limit management across commercial cards by allowing additional cards to be issued without reducing limits on existing cards, as long as the total outstanding balance across all cards remains within the company's overall credit line.
• Legal Disclaimers: Various terms and conditions documents are available for Nuclei, XOXO Day, Card Member, Insurance, Most Important Terms and Conditions (MITC), and Schedule of Charges.