By Uday Devgan
Updated On August 2, 2022

Paytm HDFC Bank Select Business Credit Card is a Co-Branded business card offered by HDFC Bank in partnership with Paytm and made exclusively for Paytm customers. The card is best suited for businesses that do many transactions on Paytm and Paytm Mall. One can also get quick loans for their business in short durations.

Paytm HDFC Bank Select Business Credit Card charges Rs. 1,000 as joining fees and the renewal charges for the card are also Rs. 1,000. The card comes with great benefits like 12 Complimentary access to Domestic Airport Lounges across the country in a year, a 1% Fuel Surcharge Waiver, and Paytm First Membership as a welcome gift. Paytm HDFC Bank Select Business Credit Card is enabled for contactless payments, facilitating fast, convenient and secure payments at retail outlets. The card also offers Personal Accidental Death Cover and  Permanent Disability Cover.

The card is best known for its cashback offers on transactions on Paytm. There is a 5% cashback on all purchases made in Paytm Mall, 3% cashback on all purchases in Travel & monthly bill payments made on Paytm App, and 1% cashback on all other spends. The card also offers milestone benefits, Dining benefits, Low-cost EMI offers, and much more.

(4.5/5)

Best Suited For

Shopping |

Joining Fee

Rs. 1,000 (plus applicable taxes)

Reward Type

Cashback |

Product Details

  • Get 5% cashback on all purchases made in Paytm Mall
  • Get 3% cashback on all purchases in Travel & monthly bill payments through standing instructions only on Paytm App
  • Get 1% cashback on all other spends.
  • Zero cost liability on reporting the lost card to bank’s 24 hour call center.
  • Enjoy 12 Complimentary access to Domestic Airport Lounges across the country in a calendar year (Capped at 3 visits per Quarter).
  • Get a 1% fuel surcharge waiver.
  • Get Paytm First Membership as a welcome gift.
  • Get Rs.500 worth Gift Voucher with 6 transactions in first 90 days since card activation.
  • Enjoy Dining benefits, Insurance Cover benefits, Milestone benefits, Dining benefits and much more.

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

Get 5% cashback on all purchases in Paytm Mall, 3% cashback on all purchases in Travel & monthly bill payments on Paytm App 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

12 Complimentary access to Domestic Airport Lounges across the country in a calendar year (3 visits per Quarter).

International Lounge Access

NA

Insurance Benefits

The Cardholder is eligible for Personal Accidental Death Cover + Permanent Disability Cover.

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. 1,000 (plus applicable taxes)

Renewal Fee

Rs. 1,000 (plus applicable taxes)

Spend based Waiver

First Year Fee waived upon spending Rs.60,000 (Non-EMI spends) within the first 90 days and Renewal Year Fee waived upon spending Rs.1,00,000 (Non-EMI spends) in the 12 months period.

Rewards Redemption Fee

No Rewards Redemption Fee on redemption of reward points towards cashback.

Rewards Redemption Fee

No Rewards Redemption Fee on redemption of reward points towards cashback.

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. 500per 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 Select Business Credit Card Features and Benefits

Paytm HDFC Bank Select Business Credit Card is a superior version of the Paytm HDFC Business Credit Card. The card offers great deals if you shop for your business on Paytm Mall and pay the bills through Paytm. On top of this cashback, the card also offers benefits in Fuel surcharge and provides a complimentary Paytm First membership.

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 minimum one transaction of Rs 100. Paytm First is a premium subscription-based rewards & loyalty program for Paytm users.

Milestone Benefit

  • Rs.1000 worth Gift Voucher on spending over Rs.2 Lac in a year. (Non-EMI Spends)
  • First Year Fee waived upon spending Rs.60,000 (Non-EMI spends) within the first 90 days.
  • Renewal Year Fee waived upon spending Rs.1,00,000 (Non-EMI spends) in the 12 months period.

Dining Benefits

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

Fuel Surcharge Waiver

The cardholders can get a 1% waiver on the surcharge applicable on fuel purchases made with Paytm HDFC Bank Select 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. 500 per statement cycle.

Activation Benefit

The cardholders can enjoy Rs. 500 worth Gift Voucher upon card activation with 6 transactions in first 90 days. (Non-EMI Spends).

Insurance Benefits

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

Coverage Details Eligibility
Base Cover Rs. 500,000/- At least 1 POS / eCommerce transaction with the Co-Brand Credit Card up to 30 days prior to the date of loss
Additional Accelerated Coverage Rs. 1,000,000/- Minimum 1 POS / eCommerce transaction with Co-Brand Credit Card Plus Credit Card spends of greater than Rs. 25,000 up to 30 days prior to the date of loss
Additional Accelerated Coverage Rs. 1,500,000/- Minimum 1 POS / eCommerce transaction with Co-Brand Credit Card Plus Credit Card spends of greater than Rs. 50,000 up to 30 days prior to the date of loss

Read about more insurance benefits on the HDFC Bank’s website. All the benefits mentioned above are subject to terms and conditions levied by the HDFC Bank, read all terms and conditions carefully.

Paytm HDFC Bank Select Business Credit Card Rewards

  • 5% cashback on all purchases in Paytm Mall.
  • 3% cashback on all purchases in Travel & monthly bill payments through standing instructions only on Paytm App.
  • 1% cashback on all other spends.

Reward Redemption

The cashback earned on the Paytm HDFC Bank Select Business Credit Card are given to the cardholder as Cashpoints. Cashpoints can also 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.

Paytm HDFC Bank Select Business Credit Card Fees & Charges

  • Joining Fee: HDFC Bank charges Rs. 1,000 (plus applicable taxes) as the joining fees for the Paytm HDFC Bank Select Business Credit Card.
  • Annual Fee: HDFC Bank charges an annual fee of Rs. 1,000 (plus applicable taxes) for Paytm HDFC Bank Select Business Credit Card.
  • Interest Rate: An interest rate of 3.6% per month (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% (plus applicable taxes) of the transaction amount is applicable on all foreign currency transactions made with Paytm HDFC Bank Select Business Credit Card.

Paytm HDFC Select Business Credit Card Eligibility Criteria

The eligibility requirements that need to be fulfilled in order to get approved for the Paytm HDFC Bank Select Credit Card are as mentioned below:

  • The age of the applicant should be a minimum of 21 years.
  • The applicant should own a registered business with a stable income.
  • The credit score of the applicant or his business credit score might also be considered.

Documents Required

Before you proceed further to apply for the Paytm HDFC Bank Select Business Credit Card, make sure that you have all the required documents ready. The list of documents that you will need while applying for this card is as follows:

  • Identity Proof: Aadhar Card, PAN Card, Passport, Voters’ Id, Driving License, etc (any one of these).
  • Address Proof: Aadhar Card, latest months’ utility bills, Voters’ Id, Passport, etc (any one of these).
  • Proof of Income: Latest bank statements/Latest ITR. Other than this, you may also need a passport-sized photograph, etc.

How To Apply For The Paytm HDFC Bank Select Business Credit Card?

You can apply for the Paytm HDFC Bank Select Business Credit Card online as well as offline at your convenience. To apply offline, you can visit your nearest HDFC Bank branch and apply for the card by filling out the physical application form there. Make sure to carry all the necessary documents along with you. To apply online for it, you can proceed further as follows:

  • Visit HDFC Bank’s official website.
  • Under the section ‘Borrow,’ click on Cards and then select ‘Credit Cards.’
  • Now, under the ‘Business Credit Cards’ category, choose the ‘Paytm HDFC Bank Select Business Credit Card.
  • Click on ‘Apply Now’ and fill in all the required details.

Cards Similar To Paytm HDFC Bank Select Business Credit Card

In the following table, you can find the comparison between the Paytm HDFC Select Business Credit Card and other cards similar to it:

Benefits Paytm HDFC Bank SELECT Business Credit card Paytm HDFC Bank Business Credit card
Annual Fees Rs. 1,000 Rs. 500
Rewards Rate 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.

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.

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.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.

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).

 

Conclusion

Paytm HDFC Bank Select Business Credit Card is one of the best business credit cards by HDFC Bank. The Co-branded card in partnership with Paytm is a great deal for those who use Paytm and Paytm mall for their business expenses. The card offers up to 5% cashback on purchases made on the Paytm Mall along with 3% cash back on purchases made in travel and monthly bill payments through standing instructions on the Paytm App. Apart, from that the card also offers 1% cashback on all other spends, which might appear to be a low deal as the same has been offered with Paytm HDFC Bank Business Credit Card but with lower annual fees.

Apart from that, the card also offers 12 Complimentary access to Domestic Airport Lounges and great insurance covers. Also, Paytm HDFC Bank Select Business Credit Card is enabled for contactless payments, facilitating fast, convenient and secure payments at retail outlets.

Therefore, with such great deals, Paytm HDFC Bank Select Business Credit Card would be a good business credit card for all your business expenses given that all your transactions are happening through Paytm and Paytm Mall.

 

FAQs:

The cardholder will be eligible for Rs.500 worth Gift Voucher upon card activation with minimum 6 transactions in the first 90 days.

Paytm First is a premium subscription-based rewards & loyalty program for Paytm users. It offers exclusive benefits, over and above the regular offers. Your Paytm First membership would be activated within 15 working days upon minimum one transaction of Rs. 100 within one year of card issuance.

Paytm HDFC Bank Select Business Credit Card offers extended credit free period up to 50 days for all purchases.

Yes, both Joining Fees and Renewal Fees for Paytm HDFC Bank Select Business Credit Card is Rs.1,000 (plus applicable taxes).

All the visits exceeding the complimentary quota will be allowed at the discretion of lounge and will also be chargeable as per the lounge.

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