Is the HDFC Biz Grow RuPay Credit Card Right for Your Business?

Freelancers, professionals and small business owners have a new credit card at HDFC Bank. In the modern fast-paced business environment, individuals require applications to simplify their financial management as well as grow their businesses. We will have a more detailed glance at this credit card. We will expound on what it entails, its strengths and weaknesses, who is eligible to receive it, and the prices.

Features of HDFC Biz Grow RuPay Credit Card

Welcome Benefits

The users will receive a gift voucher of INR 250 when one transaction is completed using this credit card within 37 days of the issue of the card. It is a gift voucher that can be redeemed on the leading brands such as Amazon, Swiggy and so on.

Reward Program

• At Rs.150, the user will get 2 cash points on spending. The standard rate of cashback is 0.33% and the setting cashback rate on SmartBuy (versus flights/hotel booking) is 0.33%. Good cashback rate against product catalogue through net banking and SmartBuy: 0.33. Efficient cashback rate on business catalogue over net banking and SmartBuy: 0.4%.

• The 10X cash points can be maximised by users on the following business expenditure categories: (a) through payment of a bill via Payzapp and SmartPay, (b) payment of income tax or advance tax via eportal.incometax.gov.in, (c) payment of GST via payment.gst.gov.in and (d) the payment of hotels and flight tickets on MMT MyBiz by SmartBuy BizDeals. (e) business productivity applications such as Tally, Office, AWS, Google, Credflow, Azure, among others, through SmartBuy BizDeals - Nuclei, (f) Dmart, (g) Cleartax

Milestone Benefits

• Users will gain 2000 cash points per quarter provided on quarterly expenditure of Rs. 1,00,000 (all retail sales without rent and petrol), and the users can use the cash points against the statement.

  
  

Dining Benefits

• Swiggy Dineout users will receive discounts of up to 20% on the payment of all bills in the restaurant in terms of payment through the Swiggy App.

  
  

Business Insurance

• The business insurance package of INR 3,785 is offered in an annual concessional premium to the users.

  
  

UPI Payments

• The users can pay through their RuPay credit card, which is linked to the UPI app, and they can also use this credit card to make UPI payments. Connecting your HDFC Biz Grow Rupay credit card to UPI is an easy task. Here's a guide to help you:

  
  

  Step 1: Open your UPI app.

  
  

  Step 2: Find the option of adding a credit card or linking a credit card.

  
  

  Step 3: Choose HDFC Bank as your issuing bank.

  
  

  Step 4: Fill in the credit card information and verify yourself.

  
  

  Step 5: Set your UPI PIN.

  
  

  Step 6: Begin making payments through your HDFC Biz Grow RuPay credit card in UPI!

  
  

Cons of HDFC Biz Grow RuPay Credit Card

• There are card-related annual fees.

• Some of the applicants may be constrained by eligibility criteria.

  
  

• The capping limit of cashback on payments that are related to taxes is low.

  
  

Eligibility Criteria

• Those who have a fixed source of income and a good credit rating can apply to use HDFC Biz Grow Rupay credit card. Last year, ITR ought to exceed INR 6 Lakhs.

  
  

Fees and Charges

• Joining fee: INR 500/- plus taxes.

• Annual fee: INR 500/- plus taxes.

• Foreign currency markup: 3.50%.

• Fuel surcharge: 1% subject to a minimum transaction of INR 400 and a maximum transaction of INR 5000.

• Cash advance fee: 2.5% or INR 500, whichever is higher.

• Late payment charges: INR 100 to 1300.

• Reward redemption fee: INR 99 per redemption request.

• Interest rate: 3.75% monthly, 45.0% annually.

MyRupaya Opinion

The HDFC Bank Biz Grow RuPay Credit Card will have a number of benefits, such as convenient UPI payments, rewards targeted at business. Although comparison of the charges and the eligibility criteria should be considered, the card can make life easier in financial matters and improvement in spending capabilities which make it an advantageous offer to many people. We suggest that you should carefully evaluate your business requirements and compare it with other options that you have to ensure whether it is appropriate to your financial aspirations.

Click here for our rating of this credit card and a detailed review.

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