IDFC FIRST Bank has launched the FIRST EA₹N RuPay Credit Card, which is a credit card backed by a fixed deposit, offering credit access via UPI along with rewards and competitive FD interest rates. This credit card is for individuals looking to build credit history while benefiting from cashbacks, discounts, and comprehensive protection features.“Customers get an unmatched opportunity to avail credit on UPI, earn rewards, and simultaneously earn attractive interest rates on Fixed Deposits”, according to the IDFC FIRST Bank press release.
Also read: Credit line on UPI: Now you can get it from small finance banks too
FIRST EA₹N RuPay credit card: What is the cashback offer?
New cardholders will receive 100% cashback on their first UPI transaction of up to Rs. 500 within 15 days of card creation. Effectively, the first year’s costs are refunded in cash.FIRST EA₹N RuPay credit card: Cashback rewards
Customers can earn 1% cashback on UPI transactions with the IDFC FIRST Bank app. 0.5% cashback is given on transactions carried out through other UPI apps, and insurance, utility bills, and online purchases.FIRST EA₹N RuPay Credit Card: What is the interest on fixed deposit?
Customers can get 7.25% per annum interest on 1 year 1 day FD.
FIRST EA₹N RuPay Credit Card will get complimentary roadside assistance worth Rs 1,399, lost card liability cover of Rs 25,000 and personal accident cover of Rs 2,00,000.
Also read: New RuPay credit card on UPI rule: RuPay credit card reward point rules from September 1
Important FAQs about FIRST EA₹N RuPay Credit Card
Here are some frequently asked questions about FIRST EA?N Credit Card, according to the IDFC FIRST website.
Is there a Joining/ Membership/ Annual fee on FIRST EA₹N Credit Card?
Yes, the FIRST EA₹N RuPay Credit Card on FD has a joining fee (1st year) of Rs. 499 + GST and an annual fee (2nd year onwards) of Rs. 499 + GST.
Why I am being asked to make a Fixed Deposit?
The FIRST EA₹N Credit Card is issued against a Fixed Deposit. That’s why, to set your credit limit, you need to create a FD. Upon successful creation of your FD, a lien will be marked on 100% of the FD value. Once done, your FD will be linked to your FIRST EA₹N Credit Card and your credit limit will be set.
Is there any welcome offer or annual renewal benefit on the FIRST EA₹N Credit Card?
Yes, there are attractive welcome offers and annual benefits with the FIRST EA₹N Credit Card on FD. These are as follows:
Welcome Benefit:
100% cashback up to Rs 500 on 1st UPI transaction within 15 days of card generation.
Annual Benefit:
100% cashback of Rs 200 on the first 4 UPI transactions (i.e. up to Rs 50 each transaction), made through the IDFC FIRST mobile banking app within 15 days from the day Annual fee is levied.
