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Federal BankYes Bank’s Private and Private Prime credit cards are super premium invite-only offerings by the bank targeted at the ultra-rich HNIs (High Net-Worth Individuals). Both the cards are very similar, except that the Yes Private Card comes with a slightly higher joining fee (annual renewal fee is the same) and offers a couple of extra benefits. The cards offer a plethora of premium privileges including a 24×7 concierge service, complimentary rounds/lessons of golf, air travel insurance including a personal accident cover worth Rs. 5 crore, and many other premium benefits. Read on to learn more about these super-premium offerings by Yes Bank.
Yes Private/Private Prime Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Travel | Shopping |
Reward Type
Reward Points
Welcome Benefits
Movie & Dining
While booking movie tickets through BookMyShow, you will get Buy One Get One offer (up to 4 free tickets per month)
Rewards Rate
24 Reward Points for every Rs. 200 spent on international spends, 16 Reward Points for every Rs. 200 spent on domestic spends.
Reward Redemption
Reward Points can be redeemed on the YesRewardz portal for flight/hotel/movie ticket bookings and against products and vouchers in the bank's catalogue. (1 Reward Point = Rs. 0.25)
Travel
Complimentary access to domestic and international airport lounges, travel privileges including cruise program, car rentals, vacation packages, car rentals, e-gift vouchers from Oberoi hotels and resorts, etc.
Golf
12 rounds of green fees and golf lessons every year at premium domestic golf courses, privileges at TPC snd PGA golf courses
Domestic Lounge Access
Unlimited domestic lounge access with MasterCard Lounge Program for primary and add-on cardmembers (guest visits limited to 12 per year)
International Lounge Access
Unlimited international lounge access to primary and add-on cardmembers with Lounge Key (guest visits limited to 12 per year)
Insurance Benefits
Air accident cover worth Rs. 5 crores, emergency overseas hospitalization cover worth Rs. 1 crore and Credit Shield cover worth Rs. 15 lakh
Zero Liability Protection
Zero liability of cardholder against any deceitful transaction in case of loss or theft of card if the same is reported to the bank within a specified time frame.
Spend Based Waiver
Renewal fee waived off on spends of Rs. 25,00,000 (for Yes Private Credit Card) or Rs. 20,00,000 (for Yes Private Prime Credit Card) in the preceding year
Rewards Redemption Fee
Nil
Rewards Redemption Fee
Nil
Foreign Currency Markup
0.50%
Interest Rates
1.2% per month (14.4% annually) for Yes Bank savings/salary account holders, 1.75% per month (or 21% annually) for others.
Fuel Surcharge
Waived off on transactions between Rs. 400 and Rs. 5,000
Cash Advance Charges
Nil
Add-on Card Fee
Nil
- Welcome gift of 25,000 Reward Points on the first transaction on Yes Private Credit Card.
- Milestone benefit of 10,000 Reward Points on total spends of Rs. 10 lakh in the first 90 days of card issuance.
- 40 Reward Points per Rs. 200 on international spends.
- 20 Reward Points per Rs. 200 on domestic spends.
- A lower interest rate of 1.2% p.m (for Yes Bank account holders) and 1.75% for others.
- Lower mark-up fee of 0.50% on all foreign currency transactions.
- Unlimited domestic lounge visits for primary and add-on cardholders (10 complimentary guest visits per year).
- Complimentary Lounge Key membership is available for both primary and add-on card members.
- Many other travel benefits include a cruise program, car rentals, vacation packages, Oberoi gift vouchers, etc.
- Air travel-related insurance benefits, including accidental death coverage, are worth Rs. 5 crores.
- Credit Shield cover worth Rs. 15 lakh in case of accidental death of the primary cardholder.
- Golf benefits include 12 rounds of complimentary green fees for a year (maximum of 3 rounds per calendar quarter).
- 12 complimentary golf lessons every year with a max cap of 3 lessons per calendar quarter.
- Complimentary wellness and medical benefits.
- Fuel surcharge waived off at all fuel stations across India for transactions between Rs. 500 and Rs. 4,000.
Yes Private/Private Prime Credit Card Welcome Benefits
- 25,000 Reward Points are credited to your account as a welcome benefit upon the completion of the first transaction with Yes Private Credit Card.
- 10,000 Reward Points are credited to your account as a welcome benefit upon the completion of the first transaction with Yes Private Prime Credit Card.
Milestone Benefits
On achieving the milestone of minimum expenditure of Rs. 10 lakh within the first 90 days of card issuance, you will get 10,000 Reward Points with Yes Private Credit Card.
Spends Based Waiver
The annual card renewal fee is waived if a minimum of Rs. 25 lakh (20 Lakh for a Private Prime Credit card) was spent in the previous card anniversary year with the Private Credit card.
Yes Private/Private Prime Credit Card Rewards
- For every Rs. 200 spent on international transactions, you will get 40 Reward Points.
- For every Rs. 200 spent on domestic spends, you will get 20 Reward Points.
1 Reward Point = Rs. 0.25
Reward Redemption
You can redeem the reward points by purchasing exclusive products and gift vouchers and by booking flight/hotels/movie tickets on the Yes Rewardz portal or by dialing the dedicated Yes Rewardz desk number, 1800 121 4444.
Travel Benefits
- Complimentary Lounge Key membership.
- Unlimited international airport lounge access for primary and add-on cardholders. Guest visits are limited to 10 per year.
- Unlimited domestic airport lounge access is available under the MasterCard domestic lounge access program. Guest visits are limited to 12 per year.
- Savings of up to USD 1,000 on round trip private air charter booking and USD 500 credit towards ground transportation.
- Airport privileges include VIP meet and greet and airport invitation services.
- USD 75 savings on all cruise bookings.
- Car rental discounts on Sixt Rent A Car.
- Savings of vacation packages.
- Discounts and benefits are available on the world’s most premium hotel chains, including Grand Hyatt Melbourne, The Lagham Sidney, International Melbourne, and Rialto.
- E-gift vouchers from Oberoi hotels and resorts.
Golf Privileges
- 12 rounds of complimentary green fees per year (max 3 per quarter).
- 4 complimentary green fee access to guests (max 1 complimentary guest green fee in a calendar quarter)
- 4 complimentary golf lessons per year, at most 1 per quarter.
- Golf privileges at international golf courses, including TPC and PGA golf courses.
Movie and Event Tickets Benefits
- Buy One Get One offer on BookMyShow for movie tickets with a max cap of 4 complimentary tickets per month.
- 50% off on event tickets on BookMyShow with a max cap of Rs. 1,000 per month.
Insurance Benefits
- Personal air accident cover worth Rs. 5 crore (applicable in case of loss of life due to a flight accident).
- Emergency overseas hospitalization cover worth Rs. 1 crore.
- Credit shield cover worth Rs. 15 lakh in case of the primary cardholder’s accidental death.
Less Finance Charge and Foreign Currency Mark-up fee
- Interest rate of 1.2% per month (14.4% annually) for Yes Bank savings/salary account holders and 1.99% per month (or 23.88 % annually) for others.
- A lower foreign currency mark-up fee of 0.50%.
Fuel Surcharge
The convenience fee on transactions (between Rs. 400 and Rs. 5,000) is waived at all refill stations across India (the maximum waived amount is capped at Rs. 1,000 per month).
Eligibility
Both Yes Private and Private Prime Credit Cards are invite-only.
To be eligible for Yes Private Credit Cards, you need to fulfill the following conditions:
- Total Relationship Value of Rs. 5 crores.
- Minimum liability relationship value of 3 crores (CASA AMB Plus FD).
Conclusion
As mentioned earlier, the two cards are very similar, the only difference being the joining fee (higher for the Private card) and a few additional benefits that you get with the Private Card. Given the kind of benefits they offer, both these cards, despite the high membership fee, are certainly worth it for the affluent HNIs. One of the most attractive features of the Yes Bank Private Credit Card series is the lower foreign currency charge of 0.50%.
Also, don’t forget to look at competitors like HDFC Infinia and ICICI Bank Emeralde Private Metal Credit Card. What do you think of these premium offerings by Yes Bank? Do let us know in the comments.
