The Indian Bank VISA Business Credit Card is available for corporates to give their employees the benefit of cashless transactions. This credit card can be used for business purposes that includes paying for travel and entertainment, repairs, operations, maintenance and more.
Corporates and SMEs can avail of up to 5 cards per unit for their executives and employees. The credit limits are based on the available security coverage, audited financials and branch recommendations. The card is issued free of cost which includes zero joining fees and annual fees. Get cash advances for up to 20% of the credit limit at low finance charges. Get 15 to 45 days interest-free on your purchases. Revolve your credit at low interest rates of 1.99% per month.
The card can be used for business expenditure that includes travel, entertainment, maintenance, repairs and operations.
Get a minimum of 15 days to a maximum of 45 days interest-free credit on your purchases. When you clear your bills in full, every purchase gets a fresh credit cycle.
The Indian Bank VISA Business Credit card is also accepted worldwide at over 30 million merchants which accept VISA. This includes over 1.5 lakh merchants in India.
The credit limit on the VISA Business Card ranges between Rs. 75,001 and Rs. 3 lakhs. Credit limits will be recommended by the Branch Manager taking into account a set criteria.
Interest is charged at 1.99% per month on your outstanding balance. (23.88% per annum). Cash transactions attract a higher charge of 2.25% per month. Interest is calculated provisionally from the date of transaction and will be refunded once you make the payment.
This card is available to corporates at no cost. Avail of this card for free and enjoy the multitude of benefits that are connected.
The Indian Bank VISA Business Credit Card bears no annual fee or renewal fees.
Withdraw cash from any Indian Bank ATM and VISA ATMs when you need it. You can get up to 20% of your credit limit. Cash advances are charged at 2.25% per month.
With complimentary purchase protection, you never have to worry about being cheated. Avoid paying for duplicate, fraud and damaged goods when you shop with your Indian Bank VISA Business Credit Card.
Your Indian Bank VISA Business Credit Card carries complimentary insurance that includes life insurance in case of death by air accident or any other accident. It also provides medical insurance in case of hospitalisation resulting from accident. You also receive travel insurance in case of lost baggage.
| Type of Charge | Amount |
|---|---|
| Annual Fee | Nil |
| Joining Fee | Nil |
| Add on Card | NA |
| Interest on revolving credit | 1.99% per month (23.88% per annum). |
| Minimum due | 25% of the transaction amount + charges, subject to a minimum of Rs. 1,000. |
| Type of Charge | Amount |
|---|---|
| Late Payment Penalty | Rs. 250 |
| Cash advance limit | Up to 20% of the credit limit. |
| Cash advance transaction charge |
Indian Bank ATM - Nil Other domestic Bank's ATM - Rs. 50 International ATM - Rs. 250 |
| Finance Charges on Cash withdrawal | 2.25% per month from the date of transaction. (27% per annum) |
| Limit Enhancement | Rs. 100 |
| Over limit charges | Rs. 50 |
| Booking Railway ticket charges | 1.8% of the transaction amount subject to a minimum of Rs. 10 |
| Fuel surcharge | 2.5 % of the transaction subject to a minimum of Rs. 10. |
| Cheque return | Rs. 250 |
| Card re-issue | Rs. 250 |
| PIN Mailer re-issue | Rs. 50 |
| Chargeslip retrieval | Rs. 125 per slip |
| Statement retrieval | Rs. 100 per statement |
| Foreign Currency Transaction fee | 3% markup |
| Service Tax | 14.50% |
| Insurance Coverage | Amount |
|---|---|
| Death due to air accident | Rs. 5 lakhs |
| Death due to any other accident | Rs. 2 lakh |
| Hospitalisation cover due to accident | Rs. 1 lakh |
| Credit shield on death | Rs. 25,000 |
| Baggage Cover | Rs. 10,000 |
| Purchase Protection | Rs. 25,000 |
To be eligible for an Indian Bank VISA Business Credit Card you need to meet the following requirements.
The credit limit for the VISA Business cards will be determined on the following criteria:
For the VISA Business card, the auto-debit facility is mandatory. When applying for the card, you need to provide an authorization letter for the bank to debit the minimum due or the full amount from your bank account. If you have selected the full amount and there is insufficient funds, then the bank will debit the minimum due.
The billing cycle for the Indian Bank VISA Business Credit Card is 25th. For purchases made on 24th of every month, only a 15-day interest free period is granted. For purchases made on 25th, a 45-day credit period is granted.
Report the loss of card immediately to Indian Bank credit card customer care helpline. Your card will be blocked and you will be issued a new one. If you suspect your card is stolen or there is misuse of the card, file an FIR with the police authorities and submit a copy of it to the bank.
If you miss paying them minimum due by the payment due date, you will be charged Rs. 250. If you default on making any payment at all towards your credit card for two consecutive months, you will be charged an additional fee of Rs. 500. You will be marked as a defaulter if you miss payment for three consecutive months.
The maximum credit limit granted is Rs. 3 lakhs.
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