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Federal BankThe AU Small Finance Bank recently launched the Business Cashback RuPay credit card, in partnership with RuPay. The card is exclusively meant to fulfil the needs and requirements of self-employed individuals and MSMEs (micro, small, and medium enterprises). This credit card charges Rs. 99 per month as a membership fee and offers benefits like 2% cashback, instant loans, and fire, housebreaking, burglary insurance, etc. that makes it the perfect solution for businesses.
The Business Cashback credit card is meant for business spends and not personal use, but it still offers multiple travel, cashback, and lifestyle privileges. AU Bank aims to streamline business processes and provide cash flow needed to grow the business for their customers. With this card, MSMEs can handle recurring monthly expenses, urgent spends, etc. hassle free, while earning cashback. The credit card is one of the best choices for self-employed people and small businesses.
Read further to know more about this business credit card, its features and benefits, fees and charges, eligibility criteria, and other important information.
AU Bank Business Cashback Rupay Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Shopping |
Reward Type
Cashback |
Welcome Benefits
Movie & Dining
Up to 30% off at over 300 partner restaurants across the country with the Silver Spoon Dining program
Rewards Rate
1% cashback, up to Rs. 1000 per statement cycle, on the Total Amount Due repayment
Reward Redemption
The cashback is credited automatically to the cardholder’s account
Travel
8 complimentary railway lounge access per year, max 2 per quarter
Golf
NA
Domestic Lounge Access
8 complimentary railway lounge access per year, max 2 per quarter
International Lounge Access
NA
Insurance Benefits
Business insurance coverage for Cash in Counter, Cash in Transit, and Public LiabilityFire, burglary, and housebreaking insurance
Zero Liability Protection
The cardholder is not liable for fraudulent transactions made with the card on timely reporting to the bank about the loss of the credit card
Spend Based Waiver
The monthly membership fee can be waived off on spending Rs. 10,000 or more in the statement cycle
Rewards Redemption Fee
Nil
Rewards Redemption Fee
Nil
Foreign Currency Markup
3.5%
Interest Rates
3.59% monthly or 43.08% per annum
Fuel Surcharge
1% fuel surcharge waiver on transactions between Rs. 400 to Rs. 5,000, max Rs. 200 per month
Cash Advance Charges
2.5% of the amount withdrawn or minimum Rs. 100, whichever is higher
Add-on Card Fee
Nil
• 1% cashback on repayment of Total Amount Due on their credit card bill
• Instant loan is available on the credit card
• 1% fuel surcharge waiver, maximum benefit of Rs. 200 per month
• Up to 30% discount at partner restaurants with the Silver Spoon Dining program
• 8 complimentary railway lounge access, max 2 per quarter
• Transactions worth Rs. 2000 or above can be easily converted to EMIs
• Business insurance, fire, burglary, and housebreaking insurance, card liability cover, and air accident cover
• Spend-based monthly card fee waiver
AU Bank Business Cashback Credit Card – Features and Benefits
Let’s take a look at the benefits and features of the AU Bank Business Cashback RuPay credit card in detail –
Cashback Benefits
Get 1% cashback on the repayment of the Total Amount Due on your credit card bill. You can earn a maximum of Rs. 1000 as cashback per statement cycle.
E-Wallet spends and reloads, rent payment, fuel spends, insurance premium spends, and cash withdrawals are not eligible for cashback.
Instant Loan
Self-employed individuals and small businesses can take instant loans on their credit card in order to fulfil their business needs and requirements.
The cardholder can claim the instant loan only after 90 days of getting the credit card.
Travel Benefits
You can enjoy 8 complimentary railway lounge access per yearofficial website , maximum twice per quarter, at select railway lounges. Add-on cardholders can also enjoy complimentary lounge access benefits.
Dining Benefits
Get up to 30% off on dining at more than 300 partner restaurants across India under the Silver Spoon Dining program.
Fuel Surcharge Waiver
Get 1% fuel surcharge waiver on transactions between Rs. 400 to Rs. 5000 at all fuel stations across the country. The maximum benefit is capped at Rs. 200 per statement cycle.
Insurance Benefits
Get business insurance coverage with your card – Cash in Counter cover worth Rs. 25,000, Public Liability and Cash in Transit cover worth Rs. 1.5 Lakhs each, Fire, Burglary, and Housebreaking insurance cover worth Rs. 2 Lakhs each
Get air accident insurance cover worth Rs. 50 Lakhs
Travel-related insurance cover worth up to Rs. 50,000 for baggage loss, delay in flight, baggage delay, plane hijack, loss of passport and other travel documents, etc.
XpressEMI and Contactless Payments
You can easily convert transactions above Rs. 2000 in to easy EMIs for your select tenure.
You can use the credit card for secure and quick payments at participating merchants, just by tapping it, for transactions up to Rs. 5000. You don’t need to enter your credit card PIN.
Card Fee Waiver
You can get the monthly card fee of Rs. 99 waived off on spending Rs. 10,000 or above on retail during the card statement cycle.
AU Bank Business Cashback RuPay Credit Card – Fees & Charges
The following are the main fees and charges associated with AU Bank Business Cashback RuPay credit card –
Annual Fee – The card charges a monthly fee of Rs. 99 plus taxes. The monthly fee can be waived off on spending Rs. 10,000 or more in a statement cycle.
Interest Rate – The card charges an interest rate of 3.59% per month and 43.08% annually.
Cash Advance Fee – The card charges a cash advance fee of 2.5% of the withdrawn amount or minimum Rs. 100, whichever is higher.
Foreign Currency Markup – The card charges a foreign currency markup of 3.49%. on all foreign transactions made by the cardholder.
Eligibility Criteria & Documents Required
The applicant must meet the following eligibility requirements in order to apply for the AU Bank Business Cashback credit card –
- The applicant must be at least 21 to 60 years of age.
- The applicant must be a resident of India
- The applicant must have a stable income source and decent credit score
The applicant must also provide the following documents along with their latest photographs –
ID Proof – Aadhar Card, PAN Card, Voters’ Id, Passport, Driving License, etc
Address Proof – Aadhar Card, Latest Utility bills, Passport, Driving License, etc.
Income Proof – Latest salary slip or latest audited ITR
How to Apply for the AU Bank Business Cashback Credit Card
Follow these steps to apply for this credit card –
- Visit the official website or mobile app of AU Bank
- Hover the cursor on ‘Cards’ in the top menu and then click on Credit Cards
- Go to Commercial Credit Cards and then click on Business Cashback Credit Card
- Check out the features and benefits of the card and other information related to it.
- Click on Apply Now to begin with the application process.
- Upload the necessary documents and then submit your application
Conclusion
Self-employed people and small businesses form the backbone of our country and AU Bank partnered with RuPay on the Business Cashback credit card to help them out. With the card, cardholders can streamline their business processes and get the cash flow needed to run the business successfully. You can handle all the expenses and monthly obligations while earning cashback on your spends made with the card.
The Business Cashback card also has privileges like instant loan facility, railway lounge access, and business insurance coverage for small businesses and MSMEs. Available at a nominal Rs. 99 monthly fees, this credit card is the perfect choice for taking your business to the next level.
