RBL Bank SalarySe UP Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank SalarySe UP Credit Card, issued by RBL Bank in collaboration with SalarySe, is a 100% virtual credit card designed for individuals who prefer digital payments and frequent UPI transactions. Positioned as a card for tech-savvy users, it offers an impressive rewards program, allowing cardholders to earn up to 10X points on eligible UPI transactions. Key differentiating benefits include substantial welcome rewards for new users, seamless integration with popular UPI apps, and the ability to link with the National Common Mobility Card (NCMC) for convenient transit payments.

Welcome Benefits

• Earn 2,500 Reward Points upon making your first transaction of at least ₹500 within 30 days of card issuance. These points will be credited within 60 days after the transaction.
• Receive an additional 1,500 Reward Points by spending ₹30,000 within the first three months of card issuance. These points will be credited within 60 days after the three-month period ends.
• Get an extra 2,000 Reward Points by completing a minimum of 15 successful UPI transactions, each worth at least ₹500, within the first 30 days. These points will appear in your account within 60 days after your first statement.
• Welcome benefits are provided only once per customer upon meeting the eligibility criteria.

Fees

• Joining Fee: ₹499 + GST
• Annual Fee: ₹499 + GST
• Spend-Based Waiver: The renewal fee is waived if the cardholder spends ₹2 Lakh or more in the previous year.
  • Purchases made in the following categories will not be considered for the fee waiver benefit: Fuel & Auto (MCC 0032, 2541, 4001, 5542, 5541, 5172), Utilities (MCC 4900), Insurance (MCC 6300, 6310), Quasi-Cash (MCC 6050, 6051, 4829), Railways (MCC 0066, 4011, 4112), Real Estate/Rental (MCC 6513), Education (MCC 8220, 8244, 8249, 8211, 8241, 8299), Wallets/Service Providers (MCC 6540), Government Services (MCC 9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223), Contracted Services (MCC 1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780), Cash (MCC 6010, 6011), Miscellaneous (MCC 5960), Bills2Pay (NA), EMI (NA).
• Rewards Redemption Fee: ₹99 + GST will be applicable on redemption of available reward points when redeeming on the RBL Bank Reward portal. No fee is applicable when redeeming on the SalarySe App.
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.99% per month or 47.88% per annum
• Fuel Surcharge Waiver: Not applicable.
• Cash Advance Charges: 2.5% of the cash amount withdrawal (minimum ₹500).

Rewards

• Reward Type: Reward Points
• Rewards Rate:
  • Earn 1 Reward Point for every ₹100 spent on eligible online and offline purchases.
  • Earn 5X Reward Points for every ₹100 spent on eligible UPI transactions done on the SalarySe Platform, capped at 1,000 points per month.
  • Earn accelerated 10X Reward Points for every ₹100 spent on incremental UPI spends exceeding ₹20,000 per month, capped at 8,000 points per month.
• Exclusions for Reward Points Accrual: Reward points cannot be accrued on purchases in the following categories: Fuel & Auto (MCC 0032, 2541, 4001, 5542, 5541, 5172), Utilities (MCC 4900), Insurance (MCC 6300, 6310), Quasi-Cash (MCC 6050, 6051, 4829), Railways (MCC 0066, 4011, 4112), Real Estate/Rental (MCC 6513), Education (MCC 8220, 8244, 8249, 8211, 8241, 8299), Wallets/Service Providers (MCC 6540), Government Services (MCC 9400, 1490, 2490, 2995, 7800, 9406, 9222, 9405, 9399, 9211, 9402, 9401, 9311, 9223), Contracted Services (MCC 1711, 1740, 0763, 1520, 0742, 1761, 1799, 1750, 1731, 1771, 0780), Cash (MCC 6010, 6011), Miscellaneous (MCC 5960), Bills2Pay (NA), and EMI conversions at the time of purchase.
• Offline UPI transactions under ₹2,000 done at small merchants (with turnover of not more than ₹20 lakh in the previous financial year) will not be eligible for reward points.
• The card does not offer specific benefits for dining, entertainment, travel, lounge access, golf, or insurance.

Rewards Redemption Guide

• Reward Points can be redeemed through the RBL Reward Portal or the SalarySe App.
• When redeeming through the RBL Reward Portal, 1 Reward Point is equal to ₹0.10. A nominal fee of ₹99 + GST applies for each redemption made within a single day.
• When redeeming through the SalarySe App, 1 Reward Point is equal to ₹0.20, and no reward redemption fee is applicable.
• You can check your Reward Points balance through the RBL Bank mobile app, via the RBL Reward Portal, or by contacting customer service.

Card Review

The RBL Bank SalarySe UP Credit Card is ideal for individuals who frequently use digital payments and UPI for their transactions. It offers a strong rewards program focused on UPI spends and provides attractive welcome benefits for new cardholders. The card also features a spend-based fee waiver, making it more economical for active users. However, it lacks benefits in categories like dining, entertainment, travel, lounge access, and insurance, which might make it less suitable for those seeking a comprehensive lifestyle card. Additionally, the foreign currency markup fee is relatively high. Overall, it's a valuable card for tech-savvy users prioritizing digital convenience and UPI rewards.

Pros

• Easily link the card to UPI for quick payments.
• Earn accelerated reward points up to 10X on eligible UPI transactions.
• Renewal fee can be waived by spending ₹2 lakh or more in a year.
• 100% virtual card for convenient digital usage.
• Option to redeem points on SalarySe App with higher value (₹0.20/point) and no fee.

Cons

• No benefits offered on dining, entertainment, travel, lounge access, golf, or insurance.
• The foreign currency markup fee of 3.5% is relatively high.

Important Product Details

• This is a 100% virtual credit card; no physical card will be delivered to the cardmember.
• The card can be accessed through the RBL MyBank App.
• It is available only on the RuPay Network.
• The card can be linked to popular UPI apps like GPay, PhonePe, and PayTM for hassle-free transactions by scanning merchant QR codes.
• You can link your National Common Mobility Card (NCMC) to the RBL Bank SalarySe UP Credit Card to use your credit limit for transportation services like metros and buses.
• Money can be added to your NCMC wallet through the RBL Bank app or at transit terminals.
• There is a revenue sharing arrangement between RBL Bank and Critical Path Technologies Pvt Ltd (SalarySe) for this card.

Other Details

• General Terms & Conditions apply to the card features and benefits.
• Information regarding Customer Grievance Redressal, Nodal Officer contact, RBI Sachet Portal, and the Roles & Responsibilities of the co-brand partner (Critical Path Technologies Pvt Ltd (SalarySe)) are available for reference.