RBL Bank MoneyTap Credit Card
Product Details
Credit Card Name :
RBL Bank MoneyTap Credit Card
Bank Name :
RBL Bank
Type :
Rewards Credit Card
Interest Rate :
3.99% per month or 47.88% per annum.
Eligibility :
Minimum income: Rs. 20,000 per month (for both salaried and self-employed applicants)
Age: Between 23 and 55 years old
Resident: Indian
Pros
Welcome Benefit: Cardholders can earn 2,000 Reward Points on the first swipe/activation of the card.
Reward System: Earn 1 reward point for every INR 100 spent on all your purchases at merchant outlets, and 2 reward points for every INR 100 spent on all your online purchases. 1 RP = 0.25 paise. General CB Rate: 0.25%, Online CB Rate: 0.5%.
Milestone Benefit: Get INR 1,000 Amazon voucher on crossing spends of INR 2.5 Lacs in the year.
Other Benefits: 20% cashback on all Zomato orders. Get 1+1 free movie ticket every month up to INR 200/- at BookMyShow for Saturday & Sunday shows.
Cons
Lower credit limit compared to other cards
Low reward rate
No travel benefits are provided
Pros & Cons
Welcome Benefits
Welcome Benefit: Cardholders can earn 2,000 Reward Points on the first swipe/activation of the card.
Rewards System
Earn 1 reward point for every INR 100 spent on all your purchases at merchant outlets, and
2 reward points for every INR 100 spent on all your online purchases.
1 RP = 0.25 paise.
General CB Rate: 0.25%, Online CB Rate: 0.5%.
International Forex Markup
Up to 3.5%
Welcome Benefits and Reward System
Special Features
20% cashback on all Zomato orders.
Eligibility Criteria
Minimum income: Rs. 20,000 per month (for both salaried and self-employed applicants)
Age: Between 23 and 55 years old
Resident: Indian
Benefits
Welcome benefit.
Zomato discounts.
Movie ticket offers.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Download the MoneyTap App: The first step involves downloading the MoneyTap app on your phone.
Pre-qualification Check: Once you have the app, you can fill out some basic details like your age, city, PAN number and income. Based on this information, the app will tell you if you're pre-approved for a credit line.
KYC Documentation: If you're pre-approved, the next step involves submitting KYC documents for verification. This might involve a visit from a bank representative to collect the documents.
Approval and Issuance: Once your KYC is complete and approved, the credit line will be finalized and your MoneyTap Credit Card will be issued. You'll receive communication with tracking details once the card is dispatched.
Contact Details
022 6115 6300
Account Opening and Procedure
RBL Bank MoneyTap Credit Card Review
The card has limited value add features and a very low cashback rate. Overall it is a below par card.
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
Product Review
Fees & Charges
Annual Membership Fee of INR 499/-. The Membership Fee for the second year is INR 499/-but can be waived on spends of INR 2 lacs in the previous year.
Cash Advance Charges: 2.5% of the cash amount (min Rs. 500).
Interest Rate: 3.99% per month or 47.88% per annum.
Late payment fee charged depending on the customer’s Total Outstanding amount ranges from Rs. 5 - 1300.
Foreign Currency Mark-up fees: Up to 3.5%.
Reward Redemption Fees: Rs. 99 +GST.
Fuel Surcharge
1% surcharge on fuel transaction value or Rs.10/- whichever is higher(dependent on merchant bank).
Billing Cycle
30 Days