By Uday Devgan
Updated On August 26, 2022

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 Business Credit Card

Best Suited For

Shopping |

Joining Fee

Rs. 500 (plus applicable taxes)

Reward Type

Cashback |

Product Details

  • Get 3% cashback on all purchases made in Paytm Mall.
  • Get 3% cashback on monthly bill payments through standing instructions only on Paytm App.
  • Get 1% cashback on all other spends.
  • Get Paytm First Membership as a welcome gift.
  • Cash advance fee reversal for first cash withdrawal transaction in a calendar month. (Capped at Rs.500)
  • 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 6 transactions within 90 days upon upon card activation.

Rewards and Benefits

Welcome Benefits

Get complimentary Paytm First Membership as a welcome gift on making your first transaction worth Rs. 100 or more.

Movie & Dining

Upto 20% discount on partner restaurants via Dineout.

Rewards Rate

3% unlimited cashback on all card spends (Non-EMI spends) and 1% cashback on all other spends.

Reward Redemption

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.

Travel

You can use the Cashbacks to book hotel/flights bookings on Smartbuy.

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

NA

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.

Fees & Charges

Joining Fee

Rs. 500 (plus applicable taxes)

Renewal Fee

Rs. 500 (plus applicable taxes)

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)

Interest Rates

3.6% per month (43.2% annually)

Fuel Surcharge

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 Charge

2.5% of the amount transacted or a minimum of Rs. 500.

Add-on Card Fee

Nil

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.

Welcome Benefit

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.

Milestone Benefit

  • 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.

Activation Benefit

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 in Paytm Mall.
  • 3% on monthly bill payments through standing instructions only on Paytm App.
  • 1% on all other spends.

Reward Redemption

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.
  • Cash Advance Fee: HDFC Bank levies a cash withdrawal fee of 2.5% of the withdrawn amount (subject to a minimum fee of Rs. 500) on cash withdrawals with the card from ATMs.
  • 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.

Documents Required

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
Rewards Rate 3% cashback on all purchases made in Paytm Mall.

3% cashback on monthly bill payments through standing instructions on Paytm App.

1% cashback on all other spends.
5% cashback on all purchases made in Paytm Mall.

3% cashback on all purchases in Travel & monthly bill payments through standing instructions on Paytm App.

1% cashback on all other spends.
Reward Redemption 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.
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.
Additional benefits Rs.500 worth Gift Voucher on spending a minimum of Rs.1 Lac in a year (Non-EMI Spends).

Complimentary membership of the Paytm First loyalty program with the Paytm HDFC Bank Business Credit Card.

Rs.250 worth Gift Voucher upon card activation with 6 transactions in first 90 days. (Non-EMI Spends).
Rs.1000 worth Gift Voucher on spending over Rs.2 Lac in a year. (Non-EMI Spends)

12 Complimentary access to Domestic Airport Lounges across the country in a calendar year.

Complimentary membership of the Paytm First loyalty program with the Paytm HDFC Bank SELECT Business Credit Card.

20% discount on partner restaurants via Dineout while using your Paytm HDFC Bank Select Business Credit Card.

With Paytm HDFC Bank Select Business Credit Card the Cardholder is eligible for Personal Accidental Death Cover and Permanent Disability Cover.

Bottom Line

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!

FAQs:

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.

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