RBL Bank RazorpayX Corporate Purchase Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank RazorpayX Corporate Purchase Card is a co-branded credit card, a result of a partnership between RBL Bank and Razorpay, specifically designed for businesses. It aims to simplify the management of recurring business payments and overall company expenses, offering maximum control and convenience. This card stands out with its key benefits including no joining or annual fees, an interest-free credit period of up to 50 days, a low foreign currency markup fee of 2.5%, and robust fraud protection coverage of up to ₹10 lakh. It also provides businesses with the flexibility to choose multiple billing cycles.

Welcome Benefits

• N/A

Fees

• Joining Fee: Nil
• Renewal Fee: Nil
• Spend-Based Waiver: N/A
• Rewards Redemption Fee: ₹99 + GST
• Foreign Currency Markup: 2.5% on international transactions
• Interest Rates: N/A (however, the card offers up to 50 days of interest-free credit on purchases)
• Fuel Surcharge Waiver: 1% waiver on transactions between ₹400 and ₹5,000, capped at ₹500 for each billing cycle. This waiver applies as long as the total transaction value is higher than ₹10.
• Cash Advance Charges: Nil
• Card Replacement Fee: ₹200

Rewards

• Reward Type: Reward Points
• Rewards Rate: N/A
• Milestone Benefits:
  • Earn 1,000 Points for spending ₹75,000 or more.
  • Earn 3,000 Points for spending ₹3 lakh or more.
  • Earn 6,000 Points for spending ₹10 lakhs or more.
  • Earn 10,000 Points for international spends of ₹10 lakhs or more.
• Reward Exclusions: Spending on utility, insurance, fuel, government, and rental expenses will not earn reward points.
• Movie & Dining: N/A
• Travel: N/A
• Domestic Lounge Access: N/A
• International Lounge Access: N/A
• Golf: N/A
• Insurance Benefits: N/A
• Lifestyle: N/A

Rewards Redemption Guide

• N/A

Card Review

• Overall Verdict: The RBL Bank RazorpayX Corporate Purchase Card is an excellent financial tool for businesses aiming to streamline their expense management. It allows employees to make work-related purchases without using personal funds, thereby simplifying expense claims and reimbursement processes.
• Who Should Apply: This card is ideal for small to medium-sized businesses looking to enhance their financial operations. Companies that frequently engage in overseas purchases or require flexible billing cycles will find this card particularly beneficial.
• Pros:
  • Businesses can choose billing cycles that suit their financial schedules, such as monthly, quarterly, or yearly.
  • The Forex Markup fee of 2.5% is relatively low compared to many other business credit cards.
  • No joining or annual fees.
  • Up to 50 days of interest-free credit.
  • Robust fraud protection coverage of ₹10 lakh.
• Cons:
  • No specific benefits on dining, entertainment, travel, golf, or other lifestyle categories.
• Value: With no joining or renewal fees, this card offers significant value for businesses focused on smart expense management and operational efficiency.

Important Product Details

• This card comes with no joining or annual fee.
• The card offers up to 50 days of interest-free credit on purchases.
• It provides robust fraud protection coverage of up to ₹10 lakh for unauthorized transactions.
• It has a low foreign currency markup fee of 2.5% for international transactions.
• Businesses have the flexibility to choose from multiple billing cycles (monthly, quarterly, or yearly).
• A 1% fuel surcharge waiver is provided on transactions between ₹400 and ₹5,000, capped at ₹500 per billing cycle, applicable if the total transaction value is higher than ₹10.
• Cash advance charges are Nil.
• Reward points are earned based on spending thresholds, with bonus points for higher spends.
• Certain spending categories like utility, insurance, fuel, government, and rental expenses do not earn reward points.

Other Details

• The card is a co-branded offering from RBL Bank and Razorpay.
• Its main objective is to simplify the way companies manage their expenses and recurring business payments.
• It enables employees to make work-related purchases without using their personal money, reducing the hassle of filing expense claims and waiting for reimbursements.
• The card helps organizations manage their cash flow better and provides insights into their spending habits, leading to smarter financial decision-making.