Yes Private/Private Prime Credit Card – Benefits, Fees & Eligibility

Introduction

The Yes Private/Private Prime Credit Card is a super-premium, invite-only offering from Yes Bank, specifically designed for ultra-high-net-worth individuals (HNIs). While both cards are similar, the Yes Private Card features a slightly higher joining fee and offers a few additional benefits. These cards provide a comprehensive suite of premium privileges, including a 24x7 concierge service, complimentary golf rounds and lessons, extensive air travel insurance with a personal accident cover of Rs. 5 crore, and a host of other exclusive advantages tailored for affluent cardholders.

Welcome Benefits

• Yes Private Credit Card: 25,000 Reward Points upon completion of the first transaction.
• Yes Private Prime Credit Card: 10,000 Reward Points upon completion of the first transaction.
• Milestone Benefit: 10,000 Reward Points on total spends of Rs. 10 lakh within the first 90 days of card issuance (applicable to Yes Private Credit Card).

Fees

• Joining Fee:
  • Rs. 50,000 + GST for Yes Private Credit Card.
  • Rs. 20,000 + GST for Yes Private Prime Credit Card.
• Annual Fee: Rs. 10,000 + GST.
• Spend-Based Waiver:
  • The annual renewal fee is waived off on spends of Rs. 25,00,000 in the preceding year for the Yes Private Credit Card.
  • The annual renewal fee is waived off on spends of Rs. 20,00,000 in the preceding year for the Yes Private Prime Credit Card.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 0.50%.
• Interest Rates:
  • 1.2% per month (14.4% annually) for Yes Bank savings/salary account holders.
  • 1.99% per month (23.88% annually) for others.
• Fuel Surcharge Waiver: Waived off on transactions between Rs. 400 and Rs. 5,000 at all fuel stations across India, with a maximum waived amount capped at Rs. 1,000 per month.
• Cash Advance Charges: Nil.

Rewards

• Reward Type: Reward Points.
• Best Suited For: Travel, Shopping.
• Rewards Rate:
  • 40 Reward Points for every Rs. 200 spent on international transactions.
  • 20 Reward Points for every Rs. 200 spent on domestic transactions.
• Reward Point Value: 1 Reward Point = Rs. 0.25.

Movie & Dining Benefits

• BookMyShow Buy One Get One Offer: Up to 4 complimentary movie tickets per month.
• BookMyShow Event Tickets: 50% off on event tickets, with a maximum cap of Rs. 1,000 per month.

Travel Benefits

• Lounge Access:
  • Unlimited domestic airport lounge access for primary and add-on cardmembers under the MasterCard Lounge Program (guest visits limited to 12 per year).
  • Unlimited international airport lounge access for primary and add-on cardmembers with Lounge Key membership (guest visits limited to 10 per year).
• Private Air Charter & Ground Transportation: Savings of up to USD 1,000 on round trip private air charter bookings and USD 500 credit towards ground transportation.
• Airport Privileges: VIP meet and greet and airport invitation services.
• Cruise Program: USD 75 savings on all cruise bookings.
• Car Rentals: Discounts on Sixt Rent A Car.
• Vacation Packages: Savings on vacation packages.
• Hotel Benefits: Discounts and benefits at premium hotel chains, including Grand Hyatt Melbourne, The Langham Sydney, International Melbourne, and Rialto.
• E-Gift Vouchers: From Oberoi hotels and resorts.

Golf Privileges

• Complimentary Green Fees: 12 rounds per year (maximum 3 rounds per calendar quarter).
• Guest Green Fee Access: 4 complimentary guest green fee access per year (maximum 1 complimentary guest green fee in a calendar quarter).
• Complimentary Golf Lessons: 4 lessons per year (maximum 1 lesson per calendar quarter).
• International Golf Courses: Privileges at TPC and PGA golf courses.

Insurance Benefits

• Personal Air Accident Cover: Worth Rs. 5 crore (applicable in case of loss of life due to a flight accident).
• Emergency Overseas Hospitalization Cover: Worth Rs. 1 crore.
• Credit Shield Cover: Worth Rs. 15 lakh in case of the primary cardholder’s accidental death.

Lifestyle Benefits

• Complimentary wellness and medical benefits.

Rewards Redemption Guide

• Reward Points can be redeemed on the YES Rewardz portal for flight, hotel, and movie ticket bookings.
• Points can also be redeemed against exclusive products and gift vouchers from the bank’s catalogue.
• For redemption assistance, you can dial the dedicated Yes Rewardz desk number, 1800 121 4444.
• The value of 1 Reward Point is Rs. 0.25.
• Yes Bank Reward Points are valid for a period of 3 years from the date of accrual and expire thereafter.

Card Eligibility Criteria

• Both Yes Private and Private Prime Credit Cards are invite-only.
• To be eligible, applicants need to fulfill the following conditions:
  • Total Relationship Value of Rs. 5 crores.
  • Minimum liability relationship value of 3 crores (CASA AMB Plus FD).

Card Review

The Yes Private and Private Prime Credit Cards are highly valuable for affluent HNIs, despite their significant membership fees. A key differentiating feature is the remarkably low foreign currency markup fee of 0.50%. Given the extensive range of premium benefits offered, these cards present a compelling proposition for their target audience.

Important Product Details

• Welcome gift of 25,000 Reward Points on the first transaction for Yes Private Credit Card.
• Milestone benefit of 10,000 Reward Points on total spends of Rs. 10 lakh in the first 90 days of card issuance.
• Earn 40 Reward Points per Rs. 200 on international spends and 20 Reward Points per Rs. 200 on domestic spends.
• Enjoy a lower interest rate of 1.2% per month for Yes Bank account holders and 1.99% for others.
• Benefit from a low foreign currency markup fee of 0.50% on all international transactions.
• Receive unlimited domestic lounge visits for primary and add-on cardholders, with 10 complimentary guest visits per year.
• Complimentary Lounge Key membership is available for both primary and add-on card members, offering unlimited international lounge access.
• Access a wide array of travel benefits, including cruise programs, car rentals, vacation packages, and Oberoi gift vouchers.
• Comprehensive air travel-related insurance benefits, including accidental death coverage worth Rs. 5 crores.
• Credit Shield cover worth Rs. 15 lakh in case of the primary cardholder's accidental death.
• Golf benefits include 12 rounds of complimentary green fees per year (maximum 3 rounds per calendar quarter) and 12 complimentary golf lessons every year (maximum 3 lessons per calendar quarter).
• Complimentary wellness and medical benefits are also provided.
• Fuel surcharge is waived off at all fuel stations across India for transactions between Rs. 400 and Rs. 5,000, with a maximum waiver of Rs. 1,000 per month.

Other Details

• The card offers a 24x7 concierge service.
• Zero liability protection is provided in case of card loss, post reporting the loss to the bank. However, liability for transactions made before reporting the loss lies solely with the cardholder.