Indian Bank
Credit Card

Indian Bank was founded in the year 1907 and is headquartered at Chennai. It has a wide network of 2816 ATMs and 2900 branches across the country.  It is one of the leading public sector banks in the country. The total business of the bank has been 4.30 lakh crores as at the end of March 2019. It is an ISO certified bank and is one among the banks with certification worldwide. It also has branches in Singapore and Colombo.

It has 227 Overseas Correspondents spread over 75 countries. It has two subsidiaries namely Indbank Merchant Banking Services Ltd and Indbank Housing Ltd. An exclusive branch for handling forex transactions is at Chennai and there are 99 forex authorised branches.

Indian Bank Credit Cards

Indian Bank offers various corporate and retail products and services and credit cards are one of them. The Indian Bank Credit Cards are issued with no annual fee and the rate charged for carried over balance beyond the credit period is as low as 1.99% p.m. which makes it a very popular and desired card. They have a special card the Bharat Credit Card which is exclusively meant to be used in India.

The following are the range of Indian Bank Credit Cards:

• Indian Bank Classic Credit Card
• Indian Bank Gold Card
• Indian Bank Bharat Credit Card
• Indian Bank Visa Business Card

The following are the features and benefits of Indian Bank Credit Cards:

• Global Acceptance: The card is very popular because of its worldwide acceptance. It is accepted at over 30 million merchant establishments across the globe and over 1,50,000 merchant establishments across the country.
• Cash back facility: For every 100/- spent on the card you get a cashback of 0.50. On accumulation of cash back to the extent of 500/-, the same can be redeemed. It will be credited directly to your bank account.
• Insurance: Every cardholder gets insurance coverage.
• Interest-free period: An interest-free period from 15 days to 45 days is allowed for the purchases made on the card. Interest as low as 1.99% will be charged on the outstanding balance beyond the date.
• Cash withdrawal: Cash withdrawal to the extent of 40% of the credit limit is allowed. But it is restricted to 25000/- in a day.
• Add-on card: There is a facility of add-on cards for your family members.
• Revolving facility: A facility of revolving payment is available. Under this, you will have to pay a minimum amount which will be a percentage of the total outstanding balance on the card. The rest of the balance will be carried over to the next billing date. The minimum amount due will be mentioned in the monthly billing statement. An interest of 1.99% p.m. will be charged on the outstanding amount beyond the minimum amount due, for the outstanding period.

The features of various credit cards of Indian Bank are as mentioned in the table below:

There is 1 reward point for every purchase of 200/- which is equivalent to Re.1/-. The reward points can be redeemed on accumulation up to 500/-. The amount on redemption will be credited directly to the bank account of the cardholder if it is a cashback. There are other multiple redemption offers as well.

The annual fee and renewal fee for Indian Bank Credit Card are as given below:

The charges for Indian Bank Credit Card are as mentioned below:

Steps to apply for the Card through Bank?s Website

New Customers should follow the following steps to apply for the Credit Card.

• Visit the official website of Indian Bank
• Go to the Credit Cards Page and provide your contact details and personal details.
• Details of the list of cards will appear. Choose the card as per your requirement. If the financial details satisfy the requirement of the bank for that particular card you can proceed to apply for the card.
• On verification, a representative from the bank will approach you and guide you through the process.
• You will have to submit the documents relating to address proof, Photo ID proof and Income Proof for checking the eligibility criteria and issuing the card.

Steps to be followed by existing customers

• Go to the Credit Card page on the official website of Indian Bank
• Provide your net banking customer ID and mobile number
• You can directly apply for the credit card online.

Steps to apply for the Credit Card through MyMoneyMantra

You should make use of the digital platform provided by MyMoneyMantra for applying for the card.

• To begin with visit the MyMoneyMantra website. Log in and choose the credit card menu
• Select the card you intend to apply for and submit.
• Fill in all the relevant information required for applying for the credit card.
• Once the filling of the application is complete and the process initiated you will be assisted by the representatives of MyMoneyMantra through the process from documentation till the approval of the card.
• On approval, the card will be dispatched to your address.
• Card and the pin will be despatched separately

To apply for the card offline, you have to visit the nearest Indian Bank branches and apply for the credit card by submitting the relevant documents

The following are the eligibility criteria for Indian Bank Credit Card

• The applicant should be in the age group of 25 to 60 for The Bharat Card and should be a resident Indian
• Both resident Indians and NRIs in the age group between 18 years to 80 years are eligible for all the other cards.
• Both salaried and self-employed individuals are eligible for all other cards except the business cards. For business cards only self-employed individuals, proprietors, partners, and partnership firms are eligible.
• The income criteria are different for different cards.
• A monthly income of 12500/- is required for Indian Bank Classic Credit Card and Indian Bank Gold Card.
• A monthly income of RS. 5000/- is required for the Bharat Card.
• Credit Score of the applicant should be preferably above 750.

The following documents are required to apply for Indian Bank Credit Card.

• Address Proof such as Aadhar Card, Passport, Driving Licence, Utility bills, Rental Agreement, etc.
• Proof of Identity such as Aadhar Card, Voter?s ID Card, Pass Port, Driving Licence and PAN Card.
• Income Proof such as IT Returns, form 16 and the latest Salary Slips.
• Business Entities should submit financial documents like the audited Balance Sheet and Profit and Loss account and ITwith income computation along with the KYC documents.

The Account Holders of Indian Bank can make Credit Card Payments in the following ways:

• Make credit card payments online by registering for Indian Bank Internet banking facilities.
• You can give auto-debit instructions from your savings bank account at Indian Bank or can transfer the amount to credit card from your savings bank/current account at any Indian Bank ATM.

All other customers can make the payment in the following ways:

• Can make payment through NEFT/RTGS. Under the beneficiary account option, you will have to provide the Indian Bank Card Number.
• Can make payment by cheque. Mention the Indian Bank Credit Card Number and drop the cheque at any of the Indian Bank drop boxes across the cities.
• Using Bill Desk, payment can be made through any bank net banking account.
• Can also make payment by way of cash deposit at any Indian Bank branches.