Yes Bank RuPay Credit Card

The Yes Bank RuPay Credit Card, introduced in 2021, is designed to offer seamless and rewarding payment solutions to a diverse customer base. This card leverages the RuPay network, which is known for its wide acceptance and robust security features, making it an ideal choice for both domestic and international transactions. 

Yes Bank, in collaboration with the National Payments Corporation of India (NPCI), has curated this card to cater to the growing demand for efficient and secure credit options. The Yes Bank RuPay Credit Card stands out with its competitive interest rates, lucrative reward programs, and comprehensive insurance benefits, aiming to enhance the overall financial experience of its users.

With over 600 million RuPay cards issued across the country, the Yes Bank RuPay Credit Card taps into a vast network of acceptance points, both online and offline. Cardholders can enjoy benefits such as cashback on purchases, access to exclusive offers, and enhanced security with EMV chip technology. The card also supports UPI linkage, enabling users to make swift and convenient payments through popular UPI apps. 

As of 2024, Yes Bank has reported a significant increase in credit card issuance, reflecting the card’s growing popularity and trust among consumers. The Yes Bank RuPay Credit Card exemplifies a modern financial tool that combines innovation, security, and convenience, making it a preferred choice for discerning customers.

Fees and Charges

Fee Type	Details
Joining Fee	Nil
Renewal Fee	Nil
Interest Rate	3.8% per month (45.6% per annum)
Forex Markup Fee	2.75% of the transaction amount
Reward Redemption Fee	Rs. 100 per redemption request
Wallet and Rental Transactions	0.5% of the transaction amount or Rs. 1 (whichever is higher); maximum of 3 rent payments in a 30-day period
Fuel Surcharge Waiver	1% waiver on transactions between Rs. 400 and Rs. 5000 (maximum benefit of Rs. 125 per statement cycle)

Rewards and Benefits

Feature	Details
Reward Points	➡ 8 RPs per Rs. 200 on UPI transactions above Rs. 2000 ➡ 2 RPs per Rs. 200 on other online spends
Fuel Surcharge Waiver	➡ 1% waiver on fuel surcharges for transactions between Rs. 400 and Rs. 5000 ➡ Maximum benefit capped at Rs. 125 per statement cycle
Domestic Lounge Access	NA
International Lounge Access	NA
Golf	NA
Insurance Benefits	NA

Product Details

1. No joining or renewal fees, making it a cost-effective choice.
2. Available only in digital format, no physical card issued.
3. Earn 8 RPs per Rs. 200 on UPI transactions above Rs. 2000; 2 RPs per Rs. 200 on other online spends.
4. 1% waiver on fuel transactions between Rs. 400 and Rs. 5000, capped at Rs. 125 per statement cycle.
5. Competitive rate of 2.75% on international transactions.
6. Option to convert transactions into EMIs for greater payment flexibility.
7. Loans available up to the credit limit for emergency needs.
8. Points can be redeemed on the Yes Rewardz portal for various options..

Yes Bank RuPay Credit Card Advantages and Disadvantages

Advantages

• Lifetime Free: No joining or renewal fees, ensuring cost savings.
• UPI Integration: Seamless payments through UPI apps.
• High Reward Points: 8 RPs per Rs. 200 on UPI transactions above Rs. 2000.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 400 and Rs. 5000.
• Low Forex Markup: Competitive rate of 2.75% on foreign currency transactions.
• EMI and Loan Options: Flexibility to convert purchases into EMIs and access quick loans.
• Virtual Card: Digital-only format enhances security and convenience.
• Reward Redemption: Points can be redeemed for a variety of rewards on the Yes Rewardz portal.

Disadvantages

• No Physical Card: Limited to virtual usage, which may not suit all users.
• Shared Credit Limit: The RuPay card shares the credit limit with the primary Yes Bank card.
• Limited Use for Offline Payments: Virtual-only format may restrict offline transactions.
• No Lounge Access: Lacks domestic or international lounge access benefits.
• Restrictions on Rent Payments: A maximum of three rent payments allowed in a 30-day period.

Yes Bank RuPay Credit Card: Features and Benefits

1. Virtual-Only Card:
   • Digital Format: The card is available only in a virtual format, enhancing security and convenience.
   • No Physical Card: Users will not receive a physical card variant.
2. Reward Points:
   • UPI Transactions: Earn 8 reward points per Rs. 200 on UPI transactions above Rs. 2000.
   • Other Online Spends: Earn 2 reward points per Rs. 200 on other online purchases.
3. Fuel Surcharge Waiver:
   • 1% Waiver: Enjoy a 1% waiver on fuel transactions between Rs. 400 and Rs. 5000.
   • Maximum Benefit: The waiver is capped at Rs. 125 per statement cycle.
4. Low Forex Markup Fee:
   • 2.75%: The card offers a competitive forex markup fee of 2.75% on international transactions, lower than many market alternatives.
5. Instant EMI and Quick Loan Options:
   • EMI Conversion: Convert purchases into EMIs for better financial management.
   • Quick Loans: Access loans up to the card’s credit limit in case of emergencies.
6. Reward Redemption:
   • Yes Rewardz Portal: Points can be redeemed for various rewards available on the Yes Rewardz portal, providing flexibility and choice.
7. Additional Features:
   • EMI on Call: Convert purchases into EMIs at low interest rates through a convenient on-call service.
   • Yes PayNow: Set up automatic bill payments to ensure timely payments each month.
   • E-Mandate: Establish standing instructions for regular payments like subscriptions, bills, and insurance.

Yes Bank RuPay Credit Card Reward Offers

1. High Reward Points on UPI Transactions
   • 8 Reward Points: Earn 8 reward points per Rs. 200 spent on UPI transactions above Rs. 2000.
   • Encourages Digital Payments: Maximizes benefits for users who frequently use UPI for payments.
2. Online Spending Rewards
   • 2 Reward Points: Earn 2 reward points per Rs. 200 spent on other online purchases.
   • Broader Reward Earning Potential: Covers a wide range of online transactions.
3. Fuel Surcharge Waiver
   • 1% Waiver: Receive a 1% waiver on fuel transactions between Rs. 400 and Rs. 5000.
   • Maximum Benefit: The waiver benefit is capped at Rs. 125 per statement cycle, making regular fuel purchases more economical.
4. Reward Redemption Flexibility
   • Yes Rewardz Portal: Points can be redeemed against a variety of choices available on the Yes Rewardz portal.
   • Diverse Options: Includes merchandise, vouchers, and other rewards, providing flexibility and variety to cardholders.
5. Affordable Redemption Fee
   • Rs. 100 per Request: A nominal fee of Rs. 100 is charged per reward redemption request.
   • Cost-Effective: Keeps the overall cost of redeeming rewards low.

Yes Bank RuPay Credit Card Fees and Charges

Fee Type	Details
Joining Fee	No fee for applying for the card.
Renewal Fee	No annual renewal charges for the card.
Interest Rate	3.8% per Month: Equivalent to 45.6% per annum.
Forex Markup Fee	2.75%: Charge on international transactions.
Reward Redemption Fee	Rs. 100 per Redemption Request: Fee applied when redeeming reward points.
Wallet and Rental Transactions Fee	0.5% of Transaction Amount or Rs. 1: For wallet and rental payments; maximum of 3 rent payments in a 30-day period.
Fuel Surcharge	1% Waiver: On fuel transactions between Rs. 400 and Rs. 5000. Maximum Benefit: Capped at Rs. 125 per statement cycle.
Cash Advance Charges	Not Applicable: The card does not offer a cash advance facility.

Why Choose the Yes Bank RuPay Credit Card?

• Lifetime Free: Enjoy a lifetime free credit card with no joining or renewal fees. It’s an excellent option for those seeking a cost-effective card without hidden charges.
• High Reward Points on UPI Transactions: 8 Reward Points per Rs. 200. Earn substantial reward points on UPI transactions above Rs. 2000. This is perfect for users who regularly make digital payments and want to earn rewards for their everyday spending.
• Reward Redemption Flexibility: Redeem your reward points for a variety of choices, including merchandise, vouchers, and more. The Yes Rewardz portal offers diverse options to make the most of your rewards.
• EMI and Quick Loan Options: Convert purchases into EMIs for manageable payments and access quick loans up to the card’s credit limit. This flexibility supports better financial planning and emergency needs.
• Seamless UPI Integration: Easily link your card to UPI apps for smooth and secure transactions. This integration supports a wide range of UPI-based payment options.
• User-Friendly Features: Set up automatic bill payments and standing instructions for subscriptions and regular expenses, adding convenience to your financial management.

Yes Bank RuPay Credit Card: Terms and Conditions

1. Card Issuance

• The Yes Bank RuPay Credit Card is issued at the discretion of Yes Bank, based on the applicant’s creditworthiness.
• The card is available only in a virtual format; no physical card variant is provided.

2. Usage

• The card can be used for online transactions and payments through UPI apps.
• It does not support offline or physical transactions due to its virtual-only nature.

3. Terms of Redemption

• Reward points can be redeemed through the Yes Rewardz portal against a variety of merchandise, vouchers, and other options.
• A fee of Rs. 100 is charged per redemption request.

4. Dispute Resolution

• Disputes regarding transactions or card usage should be reported to Yes Bank’s customer service immediately for resolution.
• Yes Bank reserves the right to amend or modify the terms and conditions of the card as per regulatory guidelines and business requirements.

Who Can Apply for the Yes Bank RuPay Credit Card?

1. Age Requirement:

• Primary Cardholder: Applicants must be between 21 and 60 years old.
• Add-on Cardholder: Must be at least 18 years old.

2. Income Criteria:

• Salaried Individuals: Minimum monthly income should be ₹25,000.
• Self-employed Individuals: Minimum annual income should be ₹3 lakh.

3. Credit Score:

• A good credit score is generally required. A score of 700 or above is considered favourable.

4. Employment Status:

• Applicants should have a stable employment history. Salaried individuals should have at least one year of employment with their current employer.
• Self-employed individuals should have a stable business track record of at least two years.

5. Residential Status:

• The applicant should be a resident of India.
• Permanent address proof is required.

6. Documentation:

• Proof of Identity: Aadhaar card, PAN card, Passport, Voter ID, or Driving License.
• Proof of Address: Utility bills, Aadhaar card, Passport, Voter ID, or Driving License.
• Income Proof: Latest salary slips for salaried individuals; IT returns for self-employed individuals.

7. Existing Relationship with Yes Bank:

• Existing customers of Yes Bank may have a smoother application process due to their banking history with the institution.

Documentation Needed for Yes Bank RuPay Credit Card

Applying for a Yes Bank RuPay Credit Card requires specific documentation to verify the applicant’s identity, address, and financial status. Here are the details:

1. Proof of Identity (Any one of the following):
   • Aadhaar Card
   • PAN Card
   • Passport
   • Voter ID
   • Driving License
2. Proof of Address (Any one of the following):
   • Aadhaar Card
   • Passport
   • Voter ID
   • Driving License
   • Utility Bills (Electricity, Water, Gas – not older than 3 months)
   • Rental Agreement
3. Proof of Income:
   • For Salaried Individuals:
     • Latest Salary Slips (last 3 months)
     • Form 16 or Income Tax Returns (ITR)
   • For Self-employed Individuals:
     • Income Tax Returns (ITR) (last 2 years)
     • Audited Financial Statements (if applicable)
     • Bank Statements (last 6 months)
4. Photographs:
   • Recent passport-sized photographs (as specified by the bank).

Application Process for Yes Bank RuPay Credit Card

• Visit the Yes Bank Website: Go to Yes Bank’s credit card page and select the RuPay Credit Card.
• Fill Out the Online Application Form: Provide personal and financial details in the online form.
• Wait for Verification: Application undergoes verification; typically a few days.
• Receive Application Status: Receive an update on your application status via email or SMS.
• Link Your Card to UPI Apps Follow instructions to link your virtual card to UPI apps.

How to Link the Yes Bank RuPay Credit Card to UPI Apps

Linking your Yes Bank RuPay Credit Card to UPI apps is a simple process. Follow these steps to get started:

1. Install/Update UPI App:
   • Ensure you have the latest version of your preferred UPI app installed (e.g., Google Pay, PhonePe, BHIM).
2. Open the UPI App:
   • Launch the UPI app and log in using your credentials.
3. Navigate to ‘Add Card’ Option:
   • Find the section for linking a credit card. This is usually under ‘Payment Methods’ or ‘Bank Accounts’.
4. Enter Card Details:
   • Select ‘Credit Card’ and enter your Yes Bank RuPay Credit Card details (card number, expiry date, CVV).
5. Verify with OTP:
   • An OTP (One-Time Password) will be sent to your registered mobile number. Enter this OTP to verify and link your card.
6. Set UPI PIN:
   • Once verified, set a UPI PIN for your credit card to complete the linking process.

How to Make UPI Payments with the Yes Bank RuPay Credit Card

Using your Yes Bank RuPay Credit Card for UPI payments is straightforward. Follow these steps:

1. Open UPI App:
   • Launch the UPI app where your Yes Bank RuPay Credit Card is linked (e.g., Google Pay, PhonePe, BHIM).
2. Select Payment Option:
   • Choose the ‘Pay’ or ‘Send Money’ option in the app.
3. Enter Recipient Details:
   • Input the recipient’s UPI ID or scan their QR code.
4. Enter Payment Amount:
   • Specify the amount you wish to pay.
5. Choose Payment Method:
   • Select your Yes Bank RuPay Credit Card from the list of linked payment methods.
6. Authenticate Transaction:
   • Enter your UPI PIN to authenticate and complete the transaction.

FAQs