Paytm HDFC Bank Business Credit Card is a Co-Branded card business card by HDFC Bank in partnership with Paytm made exclusively for Paytm customers. The card is also best suited for business professionals who can get quick loans for their businesses at Low-cost EMI options. HDFC Bank also offers two personal credit cards named Paytm HDFC Bank Credit Card and Paytm HDFC Bank Credit Card Select in partnership with Paytm.
Paytm HDFC Bank Business Credit Card comes with an annual fee of Rs. 500 and the renewal fees of Rs. 500 as well. The card is best known for its cashback on all purchases in Paytm Mall and 3% cashback on monthly bill payments. The card offers free Paytm First Membership and milestone benefits of up to Rs.500 worth Gift Voucher on spends of Rs.1 Lac in a year (Non-EMI Spends). The card appears to be a small version of Paytm HDFC Bank Select Business Credit Card with small benefits but also lesser annual charges. We are here with a detailed review of this credit card. Keep reading for more information:
Paytm HDFC Bank Business Credit Card
Best Suited For
Movie & Dining
Upto 20% discount on partner restaurants via Dineout.
3% unlimited cashback on all card spends (Non-EMI spends) and 1% cashback on all other spends.
Redeem your Cashpoints as Cashback along with other redemption options. Re.1 Cashpoint =Re.1 Cashback for redemption against the statement balance. Re.1 Cashpoint = Re.0.3 for redemption against travel benefits like Flight & Hotel bookings and Rewards Catalogue at the SmartBuy Rewards Portal.
You can use the Cashbacks to book hotel/flights bookings on Smartbuy.
Domestic Lounge Access
International Lounge Access
Zero Liability Protection
The cardholder will not be liable for any transactions done on the card once the card is reported lost/stolen to the bank.
Spend Based Waiver
Renewal fee waived off on spending Rs. 50,000 or more in the previous year and First Year Fee waived off on spending Rs. 30,000 (Non-EMI spends) within the first 90 days.
Rewards Redemption Fee
No Rewards Redemption Fee on redemption of Cash points towards cashback on statement.
Rewards Redemption Fee
No Rewards Redemption Fee on redemption of Cash points towards cashback on statement.
Foreign Currency Markup
3.5% (plus applicable taxes)
3.6% per month (43.2% annually)
1% fuel surcharge waived off for all transactions between Rs. 400 & Rs. 5,000 and Maximum Cashback of Rs. 250 per statement cycle.
Cash Advance Charges
2.5% of the amount transacted or a minimum of Rs. 500.
Add-on Card Fee
- Get 3% on all purchases on Paytm [Recharge + Utility + Movies + Mini App] Max. Cap per Calendar Month – Rs. 500
- Get 2% cashback on all other Paytm spends. Max. Cap per Calendar Month – Rs. 500
- Get 1% Cashback on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends) Max. Cap per Calendar Month – Rs. 1000
- Get Paytm First Membership as a welcome gift.
- Zero cost liability on reporting the lost card to bank’s 24 hour call center.
- Get a 1% fuel surcharge waiver.
- Get Rs.250 worth Gift Voucher on doing 2 transactions within 30 days upon card activation.
Paytm HDFC Bank Business Credit Card Features and Benefits
Paytm HDFC Bank Business Credit Card is a great deal for earning cashback if you incur a lot of daily transactions on Paytm and for shopping through Paytm mall. Apart from that the card also offers a number of additional benefits like complimentary Paytm First membership, Fuel Surcharge waiver, and much more.
You will get a Paytm first membership which comes with exclusive benefits, over and above the regular offers. The membership can be availed upon a minimum one transaction of Rs 100.
- Rs.500 worth Gift vouchers on spending a minimum of Rs.1 Lac in a year (Non-EMI Spends).
- First Year Fee can be waived off on spending a minimum of Rs. 30,000 (Non-EMI spends) within the first 90 days of the card issuance.
- The renewal fee can also be waived off on minimum spending of Rs. 50,000 or more in the previous year.
Fuel Surcharge Waiver
The cardholders can get a 1% waiver on the surcharge applicable on fuel purchases made with Paytm HDFC Bank Business Credit Card. The waiver is applicable only on fuel transactions between Rs. 400 and Rs. 5,000 and the maximum waived amount is capped at Rs. 250 per statement cycle.
Zero Liability protection
HDFC Bank provides its customers with zero liability protection against lost/stolen cards. It means that the cardholder will not be liable for any fraudulent transactions made on a lost/stolen card if the loss has been reported to the bank in a timely manner.
The cardholders can enjoy Rs.250 worth Gift Voucher upon card activation with 6 transactions in the first 90 days. (Non-EMI Spends).
Paytm HDFC Bank Business Credit Card Rewards
Paytm HDFC Bank Business Credit Card is a cashback-based credit card which comes with great cashback rewards. As the card is in-partnership with Paytm, the cashback rewards will be in the form of Paytm vouchers which can be used for doing transactions on Paytm Mall and for other uses. Cashbacks are of:
- 3% on all purchases on Paytm [Recharge + Utility + Movies + Mini App].
- 2% cashback on all other Paytm spends.
- 1% Cashback on all other retail transactions (excluding Fuel, EMIs, Rental, and Education Spends).
The cashback earned on the Paytm HDFC Bank Business Credit Card is given to the cardholder as Cashpoints. Cash points can also be redeemed by the customer against the outstanding balance as cashback or can be used for redeeming against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
Paytm HDFC Bank Business Credit Card Fees & Charges
- Annual Fee: HDFC Bank charges an annual fee of Rs. 500 (plus applicable taxes) for Paytm HDFC Bank Business Credit Card.
- Interest Rate: An interest rate of 3.6% per month or (43.2% annually) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
- Forex Mark-up Fee: A foreign currency mark-up fee of 3.5% of the transaction amount is applicable on all foreign currency transactions made with Paytm HDFC Bank Business Credit Card.
Advantages of Paytm HDFC Bank Select Credit Card
- Paytm First Membership: You get complimentary membership of the Paytm First loyalty program with the Paytm HDFC Bank Business Credit Card that entitles you to exclusive discounts and deals on Paytm and partner brands.
- Gift Voucher: You get a complimentary gift voucher worth Rs. 500 on spending a minimum of Rs. 1,00,000 with the card in a year.
- Contactless Payment: Paytm HDFC Bank Business Credit Card enables the cardholders to do contactless payments at retail outlets.
- Quick loans for businesses: Paytm HDFC Bank Business Credit Card is made for business owners where they can apply for low cost loans. The card also offers up to 50 interest free period upon issuance.
Drawbacks of Paytm HDFC Bank Business Credit Card
- Paytm HDFC Bank Business Credit Card is only rewarding if you go shopping and other transactions on Paytm Mall often as it offer 3% unlimited cashback offers on every transaction. However, if you rely more on other merchant transactions, then the return rate is very low as it offers only 1% cash back on such transactions.
- Though the Paytm HDFC Bank Business Credit Card comes with an annual renewal fee of Rs. 500, it does not offer any complimentary airport lounge access even being a business card. Therefore, if you are looking for shopping as well as a travel reward card, this might not be a good fit.
Paytm HDFC Bank Business Credit Card Eligibility Criteria
Like the general credit cards, corporate cards also have some specific eligibility criteria that need to be fulfilled by the applicants in order to get approved for this credit card. Though the HDFC Bank did not disclose the exact eligibility requirements for this card, the following are some of the basic criteria:
- The applicant’s age should be a minimum of 21 years.
- The applicant should be running a registered business with a decent income.
- The credit score of the applicant or the credit score of the business might also be an important factor in determining one’s eligibility for this card.
The documents required to apply for the Paytm HDFC Bank Business Credit Card are as mentioned below:
- Proof of Identity: Aadhar Card, Voter’s Id, PAN Card, etc.
- Address Proof: Aadhar Card, Latest months’ utility bills, or Passport.
- Other than these, some additional documents like a permanent driving license, business registration certificate, Job card issued by NREGA duly signed by an officer of the State Government, etc might also be required.
How To Apply For The Paytm HDFC Bank Business Credit Card?
You can apply for the Paytm HDFC Bank Business Credit Card online as well as offline at your convenience. To apply offline, you will have to visit your nearest HDFC Bank branch with all the required documents and apply for the card by filling in the physical application form. To apply online, you can follow a few steps as mentioned below:
- Visit HDFC Bank’s official website.
- Under the section ‘Borrow,’ select ‘Cards’ and then ‘Credit Cards.’
- Under the category ‘Business Credit Cards,’ choose the ‘Paytm HDFC Bank Business Credit Card.’
- Click on Apply Now and fill in the online application form.
Cards Similar To Paytm HDFC Bank Business Credit Card
|Benefits||Paytm HDFC Bank Business Credit card||Paytm HDFC Bank SELECT Business Credit card|
|Annual Fees||Rs. 500||Rs. 1,000|
Paytm HDFC Bank Business Credit Card has been designed keeping in mind those who love to shop online daily. Especially those who use Paytm Mall on a regular basis. The card offers 3% cashback on all transactions on Paytm Mall and 3% cash back rewards on monthly bill payments. However, it only offers 1% cash back on other merchant transactions which do not meet the expectations.
The card also does not offer any airport lounge access which is provided by other credit cards in the same line and competitors. Apart from that, it does offer fuel surcharge waivers and good milestone benefits.
Paytm HDFC Bank Business Credit Card comes with many benefits similar to Paytm HDFC Bank SELECT Business Credit Card but in a limited manner. Even with some drawbacks to it, we should not ignore the annual fee difference between the two. Considering these facts, Paytm HDFC Bank Business Credit Card will be very rewarding if you do all your transactions and shopping from Paytm mall and pay your bills with Paytm as the same will offer you a lot of cashback. This was the Paytm HDFC Business Credit Card review from our side. Let us know your views in the comment section below!
The cardholder will be eligible to get the reversal of Cash advance fee only for the first cash withdrawal in the given calendar month. However, the same limit of reversal is capped at Rs 500 every month.
If the cardholder already holds the Paytm First membership and he/she is eligible for the complimentary 100% discount voucher for Paytm First membership which they can share with their any family member or friends. The code will be provided to the customer upon minimum one transaction of Rs. 100 within one year of card issuance.
The Cardholder will earn up to 3% cashback on all card spends (Non-EMI spends) which can be redeemed by the customer against outstanding balance as cashback or can be used for redeeming against other categories such as Smartbuy (Flights/Hotels), Airmiles & Product Catalogue.
First Year Membership fee for Paytm HDFC Bank Business Credit Card can be waived off by spending Rs. 30,000 (Non-EMI Spends) within the first 90 days of card issuance.
Yes, Paytm HDFC Bank Business Credit Card can be enabled for contactless payments, facilitating fast, convenient and secure payments at retail outlets (Look out for the contactless network symbol on the card plastic). Do note that the contactless payments can only be done for the transaction amount of Rs 5,000. Transaction amount above Rs 5,000 will require the cardholder to enter the Credit Card PIN for security reasons.
The credit limit of the Paytm HDFC Business Credit Card can be different for different cardholders. It may vary on the basis of the income of the applicant and several other factors.
The customer care number for the Paytm HDFC Business Credit Card is 1800 202 6161 / 1860 267 6161.