RBL Bankbazaar SaveMax Credit Card – Benefits, Fees & Eligibility

Introduction

The RBL Bank Bankbazaar SaveMax Credit Card, issued by RBL Bank Ltd. in association with A&A Dukaan Financial Services Private Limited (BankBazaar), is designed to maximize value for everyday spending. Positioned as a mid-range card, it offers significant benefits such as a 10% instant discount on BookMyShow and 10% cashback on Zomato, each up to INR 100 monthly. Additionally, cardholders can earn 5x Reward Points on grocery spends, capped at 1,000 reward points per month, and receive a free monthly credit advisory report from BankBazaar.com.

Welcome Benefits

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Fees

• Joining Fee: ₹ 1500 + GST
• Annual/Renewal Fee: ₹ 1500 + GST
• Spend-Based Waiver: Renewal fees applicable on various Credit Cards may vary from Cardmember to Cardmember.
• Finance Charges (Interest Rates): APR up to 3.99% per month (47.88% per annum)
• Over Limit Penalty: ₹ 600 per instance
• Rent Payment Charges: 1% Processing fee on transaction amount
• Foreign Currency Markup (Forex Charges): 3.49% of the transaction value
• Minimum Repayment Amount: 5% of Total outstanding (Minimum ₹ 100) + All charges/fees/taxes + EMI
• Cheque Return Fees: 2% of Total Amount Due or Minimum of ₹ 500, whichever is higher
• Late Payment Charges:
  • Less than or equal to ₹ 100: NIL
  • Above ₹ 100 and up to ₹ 500: ₹ 100
  • Above ₹ 500 and up to ₹ 5000: ₹ 500
  • Above ₹ 5000 and up to ₹ 10,000: ₹ 750
  • Above ₹ 10,000 and up to ₹ 25,000: ₹ 900
  • Above ₹ 25,000 and up to ₹ 50,000: ₹ 1000
  • Above ₹ 50,000: ₹ 1300
• Card Replacement Fees: ₹ 200 + GST
• Cash Advance Fees: 2.5% (Minimum INR 500) of the cash amount

Rewards

• Grocery Rewards: Earn 5x Reward Points on all grocery spends, up to 1,000 reward points every month.
• Base Reward Points: Earn 1 Reward Point for every INR 100 spent on other categories.
• Cashback & Discounts:
  • 10% cashback on Zomato, up to INR 100 every month.
  • 10% discount on BookMyShow, up to INR 100 every month.
• Excluded Categories for Reward Points Accrual: Reward points are not accrued on the following MCC/Categories: Fuel & Auto, Utilities, Insurance, Railways, Real Estate / Rental, Wallet/Service Providers, Government Services, and EMI conversion of retail transactions (Split-N-Pay, & EMI conversion requests placed at the time of making transactions at POS/Web/Mobile App).
• Additional Exclusions (W.e.f. October 15, 2024): Purchases made on select merchant categories: Cash, Quasi Cash, Education, Contracted Services, Miscellaneous & Bills2Pay will also not be considered for base reward points accrual.

Rewards Redemption Guide

• Points can be redeemed via the RBL Rewards portal at rblrewards.rbl.bank.in.

Card Eligibility Criteria

• Age: Applicants should be at least 21 years old.
• Income: Applicants should have a stable source of income, either salaried or self-employed.
• Credit Score: A good CIBIL score, ideally between 750 and 900, can significantly boost approval chances.
• Citizenship: The applicant must be an Indian citizen and possess valid address proof.

Documents Required

• Identity Proof: Aadhaar card, Passport, PAN card.
• Address Proof: Any Utility bill, Passport, or Voter ID.
• Income Proof: Salary slips, bank statements, or IT returns.

Important Product Details

• Card Network: Available on MasterCard & VISA network.
• Credit Limit: The credit limit is based on multiple factors such as income, repaying capacity, and credit history. RBL Bank does not specify a fixed credit limit for this card; it will be communicated at the time of card issuance. Pre-approved Credit Limit increases are offered to existing cardholders. The credit limit can be up to ₹10 Lakh.
• Cash Advance Withdrawal Limit: Around 20-40% of the credit limit.
• Credit Advisory Report: Get a free credit advisory report every month from BankBazaar.com.
• Revenue Sharing: There is a revenue sharing arrangement between RBL Bank & BANKBAZAAR for this card.

Other Details

• Bills2Pay: This is a facility provided by RBL Bank where Cardmembers can pay various utility bills via the RBL MyBank App/Internet banking channel.
• Contact Information:
  • Call Center: 2261156300
  • Email: customercare@rblbank.com
  • Mailing Address: RBL Bank Ltd. One World Center, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel (W), Mumbai 400013. India.
• Legal & Policy Documents: Detailed Terms and Conditions, Most Important Terms and Conditions, Cardmember Agreement, Schedule of Charges, and other related documents are available on the bank's website.