Dena Bank Credit Card Overview
Founded in 1930 and nationalized in 1969, Dena Bank is part of India’s public sector banking industry with an extensive network of over 1,400 branches across the country.
In the introduction of services such as the Minor Savings Scheme, a drive-in ATM counter, Smart Cards at certain Mumbai branches, a system for customers to rate bank services and tele-banking facilities for certain cities. Dena Bank was also one of the few recipients of funding from the World Bank for technological enhancements.
In 1996, Dena Bank saw a raise of Rs.180 crores through an IPO and Rs. 92.13 crores through a Bond Issue.
Dena Bank Credit Card Schemes
Dena bank has two different credit cards.
- SBI Dena Secured Credit Card
- Dena Laghu Udyami Credit Card Scheme (DLUCC)
SBI Dena Secured Credit Card
This is a secured, co-branded credit card. Eligibility
- Offered against a fixed deposit maintained with Dena Bank
- Minimum Deposit Amount = Rs. 30,000
Fees, Charges and Other Costs:
- Introductory cash back offer of Rs.100 on 1st cash withdrawal within first month of obtaining the card.
- Interest Free Credit Period of up to 50 days (on retail spends if there is no balance outstanding).
- Interest rate on extended credit @ 1.99% p.m.
- Cash withdrawals from over 1.2 million locations i.e. domestic & international Visa Card ATMs.
- Add-on cards for immediate family members.
- Global usage at 2 million visa outlets
- SBI Card Customer Care Helpline
- 24 hr. VISA/MasterCard global customer care
- www.irtc.co.in Railway Ticket:
- Utility Bill Payment facility.
- Balance Transfers from other credit cards.
- Flexi pay Plans available to make repayments in installments at low interest rates.
- Easy Money facility:
- Order bank drafts through SBI Card Customer helpline
- Draft amount billed directly to the card
- Monthly e-statements
- Status updates through SMS or phone.
- Drop Box locator: SMS 6 digit PIN Code to get location list.
- No joining fee; Annual Fee: Up to Rs.250; Add-on Fee: Up to Rs.100
- Finance Charges will be applicable from date of transaction in case of extended credit @ 23.88% p.a. or 1.99% p.m.
- Minimum Amount Due = 5% on Total Outstanding Amount; subject to a minimum of Rs.200.
- Late Payment Fees:
|Amount Due ||Fee|
|Rs.0 - Rs.200 ||Nil|
|Rs.200 - Rs.500 ||Rs.100|
|Rs.500 to Rs.1,000 ||Rs.200|
|Rs.1,000 to Rs.5,000 ||Rs.350|
|Rs.5,000 to Rs.10,000 ||Rs.550|
|Rs.10,000 and above ||Rs.750|
- Cash advance allowed up to 80% of credit limit
- Interest @ 23.88% p.a. or 1.99% p.m. will be charged from date of withdrawal
- Withdrawal Fee - Higher than 2.5% of amount withdrawn or Rs.300 (SBI and other Domestic ATMs); Higher than 3% of amount withdrawn or Rs.300 (international ATMs).
- Pickup - Rs. 90
- 2.00% of amount dishonored in case of bounced or invalid cheques; subject to a minimum of Rs. 350 and a maximum of Rs.500
- Retrieval of:
- Statements - Rs.100 per statement older than 2 months
- Charge slips - Rs.225 per slip
- Breach of limit - 2.5% of amount overused subject to a minimum of Rs.500
- Card Replacement:
- Domestic - Rs.100
- Abroad - Actual; subject to a minimum of $175
- Conversion mark-up of 3.5% for foreign currency transactions
- Card Upgrade - Up to Rs.500; Rewards Redemption - Rs.99; Cash OTC - Rs.100
- Surcharge on booking railway tickets:
- At railway counters: Rs.30 + 2.5% of transaction amount
- Through www.irctc.co.in: 1.8% of transaction amount
- 2.5% fuel surcharge waiver on transaction amounts from Rs.500 to Rs.3000 exclusive of GST, subject to maximum waiver of Rs.100 per billing cycle)
- Optional Personal Accident Insurance Cover: Rs.24 p.m.; Credit Shield - 0.1% of Total Outstanding; Admin Fee - Rs.20 p.m
- Payments will be settled in the following order:
- Minimum Amount Due (including EMIs on loan plans and GST)
- Fees and charges
- Interest Charges
- Balance Transfer Outstanding
- Retail Outstanding
- Cash Advance
- Finance charges may change depending on card usage and repayment
- Service Tax is added on to the above mentioned charges, fees, costs wherever applicable
Dena Laghu Udyami Credit Card Scheme (DLUCC)
This product is part of Dena Bank’s MSME product portfolio. It is aimed at providing credit to those engaged in medium and small scale businesses including retail traders, self-employed persons, professionals, small industrialists and businessmen. Eligibility:
- Existing MSME customers of Dena Bank with -
- satisfactory/creditworthy relationship with the bank
- working capital up to Rs. 10 lakhs (for the last 3 yrs.)
- Credit Limits:
|Artisans, retail traders, small entrepreneurs and businessmen ||20% of declared annual taxable turnover|
|Self-Employed Persons ||50% of declared annual taxable turnover |
|Maximum per party ||Rs. 10 lakhs|
|Increase in Limit ||On request or automatically, at bank’s discretion, subject to periodic review of account operation|
- Validity: 3 years (subject to satisfactory operation of the account)
- Interest Rate Applicable: Prime Lending Rate (PLR)
All information provided is as per bank releases. Rates are subject to change without notice at the bank’s discretion. All information should be read in conjunction with the Terms and Conditions outlined by the bank for the offer.