Indian Bank Credit Cards

Indian Bank Credit Card

Are you looking for an Indian bank credit card? The Indian bank has three types of credit cards for non-business people and one for people in business. 

The Indian Bank’s credit card has an EMI facility, reward points, cash-withdrawal, interest-free credit, and many other features. This article will learn about the features, benefits, eligibility, and the required documents for having the Indian Bank credit card facility.

By the end of this article, you will have all the information about the types of cards, benefits, interest, and surcharges on the Indian bank credit card. But, before jumping into details, you must know what exactly a credit card is? What are its uses or significance?

What is a Credit card?

A credit card is a thin rectangular piece of metal or plastic document issued by a financial institution or bank. 

The Functions of the Indian Bank Credit Card

A credit card is morphologically like a debit card, but its functionality is similar to the loan service. The credit card has some amount with limits that you can swipe to pay for shopping if you don’t have cash or money. 

The bank issued this card with a fixed amount limit that you can spend in an emergency or whenever you need it. Then, after a certain period, you deposit your credit card bill with interest to the bank.

Types of Indian Bank Credit Cards

As mentioned earlier, there are three types of credit cards offered by Indian Banks for individuals and business holders. Following are the types of cards with their annual charges.

      Type of Credit Card       Annual Charge
Indian Bank Bharat Credit CardNil
Indian Bank Gold Credit Card250/- or Nil
Indian Bank Platinum Credit Card250/-or Nil
Indian Bank Business Credit Card500/-or Nil

Also Read: How to Activate Indian Bank ATM Card?

Benefits and Features of Indian Bank Credit Cards

  • The annual Fee is Zero:

The Credit Card of the Indian bank has no annual or renewal charge.  

  • Worldwide Accepted: 

All four types of Indian bank credit cards are accepted across the world except the Bharat credit card, which is only acceptable in India.

  • Cashback or Reward Point: 

The Indian bank credit card offers cashback of 50 paise on every 100 rupees you spend. Its reward point or cashback can be easily redeemed when it reaches the threshold of 500 rupees. The amount can be easily transferred to your Indian bank account.

  • Insurance Scheme:

The Indian bank offers free insurance cover for the cardholder if the cardholder’s death happens due to an accident. It also covers the hospital expenditure or loss of luggage.

Also Read: What are Bulk Charges in Indian Bank?

Documents Required for Applying for an Indian bank Credit Card

Following are the documents required if you apply for the Indian bank Credit Card.

  • Photo ID Proof:

You may submit a xerox copy of your Aadhar card, driving license, passport, election card, or any government ID 

  • Residential Proof:

You can submit the gas, electricity, driving license, election card, or Aadhar card as address proof. 

  • Proof of Income:

If you are a salaried person, you can deposit the latest three months’ salary slip. However, you can also submit an ITR file document in the case of people in business.

  • Pan Card:

It’s mandatory to submit your PAN details to have a credit card.

  • Pencil Impression:

If you already have a credit card, you can also submit the pencil impression of that particular credit card.

  • For Business Credit Card:

If you are a company owner, you will need to submit your company’s last two years’’ financial statement and the other required documents like Id Proof, residential proof, photographs, and pan card.

Eligibility to Apply for the Indian bank Credit Cards

Agesalary/IncomeNationality
Indian Bank Bharat Credit Card25-60 years5000/-Indian
Indian Bank Platinum Credit Card18 years12,500/-Indian & NRI
Indian Bank Gold Credit Card18 years12,500/-Indian & NRI
Indian Bank Business Credit Card18 years10 lacIndian & NRI

If Applying for an Indian Bank credit card, the submission of the pan card is mandatory for all the applicants as per the order of the Reserve bank of India. Credit cards can be best enjoyed if you are disciplined enough to clear due bills on time every month.

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