Self-employed folks can now avail Credit Cards on our platform. They come with ZERO annual fees. Here are all the details!
We are happy to announce that BankBazaar.com, India’s leading online marketplace for financial products, now offers Credit Cards for self-employed customers. With this launch, we have expanded our Credit Card category to include Business Cards. These have been tailored keeping in mind the specific needs of our self-employed customers, especially when it comes to managing business expenses better. Being in business has its own ups and downs and these cards are designed to help you save money right through!
The Cards
To start with, we have two variants of Business Cards from Yes Bank. These are already integrated and live on the platform. Two more variants from other partner banks are expected to go live by the end of January 2019. All these products come with a paperless application option to relieve you from all the paperwork hassles and to speed up the approval process. Want to submit physical documents? You could opt for manual submission of documents.
The best part is that these cards come with ZERO annual fees! Want to know more? Here’s all the info that you need.
YES First Business Card
This business card is a lifetime-free card. Your minimum Income Tax Return (ITR) should be Rs. 10 lakhs for you to be eligible for this card. It offers amazing benefits!
- Get 50% bonus reward points on online & dining spends
- Enjoy a low foreign currency mark-up fee at 1.75%
- Get free lounge access through Mastercard (Domestic) and Priority Pass (International)
- Earn 24,000 reward points on your first transaction done within 30 days of the card set-up date
- Earn 20,000 points (worth Rs. 5,000) on spends of 3 lakhs & more within 90 days of card set-up
- Earn 20,000 points (worth Rs. 5,000) on annual spends of 12 lakhs & more. Applicable every anniversary year. (Anniversary year is defined as 12 months from the date of card set-up or date of renewal)
- Get a waiver of green fee at select golf courses in India
- Enjoy one complimentary golf lesson every calendar month
Additional Reading: Keep An Eye Out For These Credit Cards With Zero Annual Fees In 2019
Unlike other cards, the Annual Percentage Rate (APR) for this card is just 1.99% per month if you are a Yes Bank customer. This is close to Personal Loan rates. So, you can avail credit without worrying about exorbitant interest charges. You can also secure your online transactions with Mastercard® SecureCode.
YES Prosperity Business Card
Your minimum ITR should be Rs. 5 lakhs for you to be eligible for this card. This is also a lifetime-free card and offers a host of benefits.
- Get 50% bonus reward points on online & dining spends
- Enjoy free lounge access through Mastercard (Domestic) and Priority Pass (International)
- Earn 12,000 reward points on your first transaction done within 30 days of card set-up date
- Earn 10,000 points (worth Rs. 2,500) on spending 1 lakh within 90 days of card set-up
- Earn 10,000 points (worth Rs. 2,500) on annual spends of 6 lakhs. Applicable every anniversary year (Anniversary year is defined as 12 months from the date of card setup or date of renewal)
Additional Reading: Check Out These Lifetime-Free Credit Cards From YES Bank
The foreign currency mark-up fee is 2.5%. The Annual Percentage Rate (APR) for this card is 2.99% per month if you are already a Yes Bank customer. You can secure your online transactions with Mastercard® SecureCode.
Hear! Hear!
Here’s what the industry experts are saying:
Speaking about the category expansion, Adhil Shetty, Co-founder & CEO, BankBazaar, says:
“BankBazaar’s aim is to help customers access the financial product that is right for them. Millennials, who form the core of our customer base, are high on aspiration, as revealed by the BankBazaar Aspiration Index, and have more entrepreneurial spirit compared to earlier generations. Our search data, too, shows that the self-employed customers contribute to more than 20% of the searches for Credit Cards. At BankBazaar, we realize the need for products tailored specifically for this customer group, and with these new partnerships, we are trying to bring more relevant products on board for a large section of our customers.”
Our Chief Business Development Officer (CBDO), Navin Chandani, adds:
“Business Credit Cards are now available to the self-employed customers on BankBazaar. These cards offer control, cost savings, and convenience and are tailored for the self-employed individuals who have their own business to drive effective expenses management, including travel and entertainment expenses. We look forward to expanding our most popular category with these new products in partnership with Yes Bank.”
Additional Reading: The Best Credit Card For Each Income Group
Speaking about the partnership, Nilkanth Rade, President and Sales Head, Credit Cards, Yes Bank Limited, says:
“With the launch of Yes Bank’s Business Credit Card Products on BankBazaar platform, we look forward to leveraging the platform’s wide distribution network and its strong customer portfolio. Today, the number of entrepreneurs in India are rapidly growing, and we are confident that this partnership will be beneficial for self-employed customers who can now own a curated product offering that suits their business as well personal needs”
Not convinced? We currently have more than 50+ Credit Cards from partner banks available on the site and have been steadily increasing the range of products available on our marketplace to reach out to a wider group of customers. So, there’s a card for everyone on BankBazaar. Don’t wait! Grab yours now!