All Benefits
- 10 reward points per ₹100 on eligible PhonePe spends
- 5 reward points per ₹100 on eligible online spends
- PhonePe e-Gift Card worth ₹1,500 on payment of annual fee ₹1,499
Fees
Joining Fee
PhonePe e-Gift Card worth ₹1,500
₹1,769
₹1,499 + GST
Annual Fee
The annual fee is waived if you spend ₹3 lakh or more in a year on your card, as per bank policy.
₹1,769
₹1,499 + GST
Eligibility
Age
21-70 years
Salary
₹25K / Month
Credit Score
720+
Bank Fee Structure
Forex Markup
3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency. Examples (3.5%): ₹100 → ₹3.5 ₹1,000 → ₹35 ₹10,000 → ₹350 ₹1,00,000 → ₹3,500
3.5%
Finance Charges (APR)
Finance charges of 3.75% per month (45% per annum) apply on unpaid outstanding balances until the amount is fully repaid
3.75%
ATM Withdrawal
2.5% of the withdrawn amount is charged on cash advances using the credit card (minimum ₹500, if applicable)
2.5%
Reward Redemption
₹99 per redemption request is applicable
₹99
Railway Surcharge
A surcharge of 1% is applied to transactions made for booking railway tickets
1%
Rent Payment
A surcharge fee of ₹199 + GST applies on rental transactions made using the credit card
₹199
Cheque Payment
A fee of ₹200 of the payment amount is levied for cheque return, cheque dishonour, or auto-debit reversal
₹200
Cash Payment
₹200 cash payment fee per deposit
₹200
Late Payment Charges
| Amount due | Fee |
|---|---|
| ₹0 - ₹500 | ₹0 |
| ₹501 - ₹1000 | ₹400 |
| ₹1001 - ₹10000 | ₹750 |
| ₹10001 - ₹25000 | ₹950 |
| ₹25001 - ₹50000 | ₹1100 |
| Above ₹50000 | ₹1300 |
Additional ₹100 is charged if Minimum Amount Due remains unpaid for two consecutive cycles, continuing until cleared
Reward Exclusions
Terms & Conditions
- The bank may offer a different card variant based on your eligibility; please carefully review the features and benefits of the card offered before submitting your application
- A minimum transaction of ₹100 within 30 days of card issuance is required to activate the card, failing which you will not be eligible for rewards
Full charges and terms: Bank MITC / Terms