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Paytm HDFC Bank Select Credit Card

Product Details
Credit Card Name : 

Paytm HDFC Bank Select Credit Card

Bank Name :

Paytm

Type :

Lifestyle Credit Card

Interest Rate : 

3.75% per month i.e, 45.00% p.a.

Eligibility :

Age: You must be at least 21 years old to apply for this card.
Minimum income: The min monthly salary requirement is INR 30,000 for salaried individuals and INR 60,000 for self-employed individuals.
Employment Type: You must be a salaried employee or self-employed professional.
Nationality: You must be an Indian National.

Paytm HDFC Bank Select Credit Card
Pros
  • Welcome Benefit: Free Paytm First membership. Paytm first is a premium subscription-based rewards & loyalty program by Paytm for its users. 

  • Reward System:  5% Cashback on purchases on Paytm App [recharge + utility bill payment + movie tickets + Mini App]. Max cashback capped at INR 1500 per month. 3% cashback on preferred merchants such as Swiggy, AJIO, Big Basket & Uber. Max cashback capped at INR 500 per month.  1% cashback on all other retail spend. Max cashback capped at INR 2000 per month. 

  • 8 free visits to domestic airport lounges across India in a calendar year (capped at 2 visits per quarter).

  • Milestone Benefit: Get gift voucher worth INR 500 on spending INR 50,000 in any quarter. 

  • Dining Benefit: Get up to 20 percent discount on partner restaurants via Swiggy Dineout while using your credit card.

 

Cons
  • Low cashback rate. 

  • No free movie tickets. 

  • Limited number of value add benefits. 

Pros & Cons
Welcome Benefits

Welcome Benefit: Free Paytm First membership. Paytm first is a premium subscription-based rewards & loyalty program by Paytm for its users. 

Rewards System

Reward System:  5% Cashback on purchases on Paytm App [recharge + utility bill payment + movie tickets + Mini App]. Max cashback capped at INR 1500 per month. 3% cashback on preferred merchants such as Swiggy, AJIO, Big Basket & Uber. Max cashback capped at INR 500 per month.  1% cashback on all other retail spend. Max cashback capped at INR 2000 per month. 

International Forex Markup

3.5%.

Welcome Benefits and Reward System
Special Features

5% Cashback on purchases on Paytm [Recharge + Utility + Travel + Movies + Mini App] Max. Cap per Calendar Month - Rs. 1500

Eligibility Criteria

Age: You must be at least 21 years old to apply for this card.
Minimum income: The min monthly salary requirement is INR 30,000 for salaried individuals and INR 60,000 for self-employed individuals.
Employment Type: You must be a salaried employee or self-employed professional.
Nationality: You must be an Indian National.

Benefits
  • Decent cashback. 

  • Milestone benefits. 

  • Airport lounge visits. 

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  • Open the Paytm app and go to the "Credit Cards" section. 

  • Click on the "Paytm HDFC Bank Select Credit Card" option. 

  • Click on the "Apply Now" button. Fill out the application form and submit it. 

  • Here are the documents that you need to submit along with your application form:  Proof of identity (e.g., passport, driving license, PAN card) Proof of address (e.g., bank statement, utility bill) Proof of income (e.g., salary slip, tax return) 

  • The processing time for the application is usually 7-10 working days. 

  • Once your application is approved, you will receive the card in the mail within 15-20 working days.

Contact Details

1800 202 6161 or 1860 267 6161,
send an SMS to 730 8080 808, or
even use WhatsApp to send a message to 707 0022 222.

Account Opening and Procedure
Paytm HDFC Bank Select Credit Card

The Paytm HDFC Bank Select credit card is a co-branded offering and is perfect for people who regularly use Paytm to make spends. It is the most premium variant out of all the co-branded cards issued by Paytm and HDFC Bank and is available at an Rs. 1000 joining fee. Along with a complimentary Paytm First membership, you get 5% cashback on Paytm purchases and 3% cashback on popular brands like Ajio, Swiggy, BigBasket and Uber. However, the only drawback is it does not provide any benefits on non-paytm transactions.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

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Fees & Charges
  • Annual Membership Fee: Rs.1000 + GST First Year Fee waived upon spending Rs.50,000 (Non-EMI Spends) within the first 90 days. 

  • Cash advance fee: 2.5% or r ₹500 whichever is higher. 

  • Interest Rates: 3.75% per month i.e,  45.00% p.a.  

  • Late Payment Charges: Less than ₹100 = Nil ₹100 to ₹500 = ₹100/- ₹501 to ₹5,000 = ₹500/- ₹5,001 to ₹10,000 = ₹600/- ₹10,001 to ₹25,000 = ₹800/- ₹25,001 to ₹50,000 = ₹1100/- More than ₹50,000 = ₹1300/- 

  • Foreign Currency Transactions Fees: 3.5 %.  

  • Fuel Surcharge: 1% of the Transaction amount  

  • Reward Redemption Fees: Rs. 99/-

Fuel Surcharge

Fuel Surcharge: 1% Fuel Surcharge on fuel transactions. However. that is waived on fuel transactions.  (on minimum transaction of ₹400 & maximum transaction of ₹5,000. Maximum waiver of ₹500 per statement cycle).

Billing Cycle

30 Days

Fees & Charges
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