By Divya Shokeen
Updated On September 21, 2022

HDFC Bank Freedom Credit Card is a basic entry-level credit card by HDFC Bank targetted primarily at first-time cardholders. It is a Reward Points-based card and comes with a nominal membership fee of just Rs. 500 per annum. You can also get the renewal fee waived off on minimum spends of Rs. 50,000 in an anniversary year. You earn 1 Cash Point per Rs. 150 spent with this card and extra cash points on BookMyShow, OYO, BigBasket, and several other popular brands. Moreover, the card comes with an exceptional introductory benefit offering a low interest of 0.99% only for the first 90 days from the card activation date. Read on to learn more about this entry-level offering by HDFC.

hdfc freedom credit card featured

(4.2/5)

Best Suited For

Shopping |

Joining Fee

Rs. 500 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • Complimentary 500 Cash Points as a welcome benefit and every year the card membership is renewed.
  • Low-interest rate of 0.99% for the first 90 days from the card issuance date.
  • 10X Cash Points on various popular brands.
  • 5X Cash Points on EMI spends at merchant outlets.
  • 1 Reward Point per Rs. 150 on all other spends with the card.
  • Easy redemption of cashpoints against an array of categories.
  • Spend-based fuel surcharge waiver.
  • 1% fuel surcharge waiver.

Rewards and Benefits

Welcome Benefits

500 Cash Points as a welcome benefit

Movie & Dining

Up to 15% off on dining at over 2,000 restaurants.

Rewards Rate

1 CashPoint per Rs. 150 spent on all categories, 5x Cash points on EMI transactions at merchant outlets, 10x Cash Points on Big Basket, Swiggy, BookMyShow, etc.

Reward Redemption

1 CashPoint = Re. 0.15 for redemption against product catalog, SmartBuy, and cashback.

Travel

N/A

Golf

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Insurance Benefits

N/A

Zero Liability Protection

Cardholders shall not be liable for any fraudulent transaction made with the card post reporting the loss of the card 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 if a minimum of Rs. 50,000 were spent in the previous year

Rewards Redemption Fee

Rs. 99 per redemption request (plus applicable taxes)

Rewards Redemption Fee

Rs. 99 per redemption request (plus applicable taxes)

Foreign Currency Markup

3.5% on the conversion amount (plus applicable taxes)

Interest Rates

3.6% per month (or 43.2% per annum), 0.99% for the first 90 days.

Fuel Surcharge

1% fuel surcharge waived off at all filling stations across India for transactions between Rs. 400 and Rs. 5,000 (max waiver capped at Rs. 250 per month)

Cash Advance Charge

2.50% of the withdrawn amount (subject to a minimum charge of Rs. 500)

Add-on Card Fee

Nil

HDFC Bank Freedom Credit Card Features and Benefits

The Freedom Credit Card is one of the most basic HDFC Bank Credit Cards and is still desired by thousands of individuals who look for an affordable card with decent reward rates and features. It comes with great welcome and annual benefits along with a good reward rate. To understand all the features and benefits of the card in detail, refer to all the points mentioned below:

Welcome/Renewal benefit:

  • You get 500 bonus Cash Points after successful payment of the joining fee.
  • You also get 500 bonus CashPoints every year on card renewal.

Fuel Surcharge Waiver:

1% fuel surcharge is waived off at all filling stations across India for transactions between Rs. 400 and Rs. 5,000 (max waiver capped at Rs. 250 per statement cycle).

Low-Interest Rate

  • With the HDFC Bank Freedom Credit card, customers will be charged a low-interest rate of 0.99% per month only for the first 90 days from the card set-up date.
  • This offer is only valid on retail and non-EMI transactions.
  • After 90 days, the interest of 3.6% per month will be chargeable.

Spend Based Waiver

The renewal fee of Rs. 500 is waived off if you spend Rs. 50,000 or more in the previous anniversary year.

Reward Point Benefits of the HDFC Bank Freedom Credit Card

  • You get 1 Cash Point on every spent of Rs. 150.
  • You get 5 Cash Points on every Rs. 150 spent on EMI purchases at merchant locations. You can earn a maximum of 2,500 Cash Points every month in this category.
  • You get 10 Cash Points on every Rs. 150 spent on BigBasket, OYO, Swiggy, Uber, and BookMyShow. The maximum Cash Points under this category are capped at 2,500 Cash Points every month.

Reward redemption:

  • The Reward Points earned on the HDFC Bank Freedom Credit Card can be redeemed for cashback, products (from the HDFC product catalog), or hotel/flight bookings on Smartbuy.
  • 1 Cash Point = Re. 0.15 for redemption against all the categories as mentioned above.
  • You need a minimum of 500 Cash Points for redemption against cashback.
  • You can pay only up to 50% of the transaction amount with Cash Points while booking flights/hotels on SmartBuy.

HDFC Bank Freedom Credit Card Fees and Charges

  • The joining and annual fee of the Freedom Card is Rs. 500 plus applicable taxes. The renewal fee is waived if the cardholder has spent Rs. 50,000 or more in the previous year.
  • The interest rate on this credit card is 3.6% per month (0.99% per month as an introductory offer).
  • The cash advance fee on the HDFC Freedom Card is 2.5% of the withdrawn amount or a minimum of Rs. 500.
  • The foreign currency markup fee on this credit card is 3.5% per month.

HDFC Freedom Credit Card Eligibility Criteria:

In order to get approved for the HDFC Bank Freedom Card, the applicants need to fulfill certain eligibility criteria, which depend on several factors including their age, income, credit history, etc. The basic eligibility requirements for the HDFC Freedom Credit Card are mentioned below in the table:

Applicant  Age  Salary/Income requirement
Salaried employees 21-60 years Net monthly income of Rs. 12,000 or above
Self-employed individuals 21-65 years Annual income of Rs. 2,00,000 or above.

Documents Required

The applicants also need to upload/submit a few necessary documents in order to apply for the HDFC Bank Freedom Credit Card. A list of all the required documents is given below:

  • Identity Proof: Aadhar Card, Voters Id, PAN Card, Passport, Driving License, etc,
  • Address Proof: Aadhar Card, Passport, Voters’ Id, Utility bills, etc.
  • Proof of income: Latest salary slips/bank statements or latest audited ITR.

How To Apply For The HDFC Freedom Credit Card?

The HDFC Bank provides its customers with the convenience to apply for a credit card online as well as offline. To apply offline, you can simply visit your nearest HDFc Bank branch and fill in the physical application form. Make sure to carry all the required documents with you in this case. However, if you want to apply online, you will have to follow a few simple steps as mentioned below:

  • Visit the HDFC Bank’s official website.
  • Under the Personal Banking section, click on Cards.
  • Select Credit Cards.
  • Now you will be redirected to the credit cards page of the bank where all the cards have been categorized under different sections.
  • Under ‘other credit cards,’ choose the HDFC Freedom Credit Card and click on ‘Apply Now.’

Conclusion

Given its not-so-strict eligibility criteria, low membership fee and a decent reward rate across almost all categories of spends, the Freedom Credit Card by HDFC Bank can be considered a good pick for first-time cardholders. Another card that can be considered very similar to this one is the SimplySave Credit Card offered by SBI Card, which comes with a similar annual fee and features. If you love going out for movies or dine-outs, the Freedom Card would be a good choice for you as it earns you accelerated Reward Points on movies and exciting discounts on dining spends. All these benefits combined make it one of the best offerings in the entry-level segment. What do you think of HDFC Freedom Credit Card? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience.

FAQs:

No, HDFC Bank doesn’t provide complimentary domestic or international airport lounge access with the Freedom Credit Card.

HDFC Bank does not charge any fee for issuing up to 3 add-on credit cards.

HDFC Bank charges an interest of 3.6% per month on HDFC Bank Freedom Credit Card.

HDFC charges 3.5% of the transaction amount as a foreign currency mark-up fee on the Freedom Credit Card.

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