As all the major card issuers have been launching exclusive offers on insurance payments since the beginning of the year 2022, the IDFC First Bank has also come up with a similar offer recently. Under the offer, the IDFC First Select Credit Cardholders can earn a cashback of up to 3% on insurance premium payments during the offer period, i.e, between February 25, 2022, to March 25, 2022. However, you can earn the cashback only on insurance transactions that are worth Rs. 15,000 or more and there are a few more terms and conditions that need to be fulfilled in order to avail of the benefits of this offer. To understand the offer in detail, keep reading the article:
If you are having the IDFC First Select Credit Card, you can earn a cashback of up to 3% on making insurance premium payments. Refer to the following points to understand how:
- You get 1% cashback, up to Rs. 500, on making insurance payments worth Rs. 15,000 or more using your IDFC First Select Card.
- You get an additional 2% cashback, up to Rs. 500, on converting your insurance payments into EMIs worth Rs. 2,500 or more with a tenure of at least 6 months.
Please note that the offer is only applicable on the IDFC First Select Credit Card and not on all IDFC Bank Cards. Moreover, the offer is valid on all the eligible transactions made between February 25, 2022, and March 25, 2022. The eligible cardholders will receive direct communication regarding the offer from the IDFC First Bank.
Also Check: Earn 5x Reward Points On Insurance Premium Payments With Your HSBC Credit Cards
Offer Terms & Conditions
- The offer is only valid on the IDFC First Select Credit Card.
- Only the cardholders receiving direct communication from the bank will be eligible to participate in the offer.
- The earned cashback will be credited to the cardholders’ accounts within 30 days from the offer ending date.
- Only the EMI transactions, which are worth a minimum of Rs. 2,500 and have a minimum of 6 months tenure, will be eligible for the offer.
- Only the transactions made during the offer period will be eligible for the offer. If you have made the insurance payment before the starting of the offer period and converted it into EMI during the offer period, you will not be eligible for the cashback.
- Multiple insurance payments made during the offer period will be combined in order to calculate the earned cashback.
- The IDFC First Bank reserves the right to modify or cancel the offer anytime without prior notice.
YOu can check the detailed terms and conditions of this offer by clicking here.
Within the past few months, many of the major card issuers including SBI Card, AmEx, YES Bank, Standard Chartered Bank, etc, launched different types of offers on insurance premium payments and hence the IDFC First Bank also did the same recently. However, this offer is only valid on one credit card, i.e, the IDFC First Select Credit Card, unlike the insurance payment offers launched by other card issuers, which are valid on almost all the credit cards issued by that particular issuer/bank. If you are an eligible cardholder, you should try to gain the maximum benefit out of this offer by making the insurance payments using your credit card and converting them into EMIs as mentioned above. Make sure to check the terms and conditions of the offer carefully before proceeding further. Also, in case of any doubts regarding this offer, make sure to let us know in the comment section below!