Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Business Freedom Credit Card by HDFC Bank offers a wide range of benefits to the cardholder across various categories. The credit card comes with an annual fee of Rs.500 and an interest rate of 3.49% per month.
| Reward Point Benefits | For every Rs.150 spent on the card, you will receive reward points. |
| Cashback Benefits | 5% cashback on spends on departmental store, movie ticket purchases, dining spends, utility bill payments. |
| Fuel Surcharge Benefits | With the waiver, save up to Rs.250 on fuel transactions. |
| Other Benefits | Interest-free credit period of up to 50 days. |
The credit limit for the Business Freedom Credit Card is assigned by the bank. HDFC Bank takes several factors such as the credit score, credit report, and the credit utilisation ratio of the applicant before assigning the credit limit.
| Type of Charge | Fees |
|---|---|
| Annual fee | Rs.500 |
| Interest-free credit period | Up to 50 days |
| Cash advance limit | 40% of the credit limit |
| Interest rate | 3.49% per month |
| Cash advance charges | 2.5% of amount withdrawn or Rs.500 (higher amount will be taken) |
| Cash processing fee | Rs.100 |
| Nationality | He or she must be a citizen of India. |
| Age | The applicant must be at least 18 years old. |
| Employment status | The applicant must be either salaried or self-employed |
| Credit Score | The applicants who hold a good credit score have a higher chance of being eligible for the card. |
| Identity Proof | Income Proof | Proof of Address |
|---|---|---|
| Voter ID | Salary Slip | Ration Card |
| Aadhaar Card | Form 16 | Aadhaar Card |
| Driving License | IT Returns | Voter ID |
| - | - | Passport |
To apply for the Business Freedom Credit Card, the steps you need to follow are:
If you spend a total of Rs.20,000 annually, then you will get a waiver on your next year annual membership.
The lender will charge an interest of 3.49% per month on your outstanding credit card bill. Hence, in order to avoid this, pay your bill on time.
Yes, you can visit the nearest HDFC bank branch along with all the necessary documents to apply for this credit card. A representative from the bank will get in touch with you and will help you with the application process. You need to fill the application form and submit it along with the necessary documents.
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