Kotak UPI RuPay Credit Card vs HDFC Bank Biz Grow Credit Card

• The Kotak UPI RuPay Credit Card is issued entirely in digital form. No physical card is provided
• Card details are automatically registered under the Credit Card section of Kotak Mobile Banking after issuance
• The card can be connected with supported UPI applications and used for eligible merchant payments after setting a UPI PIN
• It is designed primarily for merchant UPI transactions. Credit cards linked to UPI generally cannot be used for person-to-person transfers, cash withdrawals or other transactions restricted under RuPay and NPCI rules
• Cardholders earn 3 Kotak Reward Points for every Rs. 100 spent on eligible transactions
• Reward points can be earned on both qualifying UPI purchases and regular card transactions completed virtually
• Regular virtual-card spending includes eligible online, e-commerce and international transactions
• Under standard non-cash redemption options, every 1,000 reward points are worth Rs. 100. This means one reward point ordinarily provides a value of Rs. 0.10
• A minimum of 1,000 reward points is required for redemption against regular options such as products, vouchers, recharge, movies or travel
• With effect from June 1, 2025, cash redemption provides a lower value of Rs. 0.07 per reward point
• Cash redemption requires at least 2,000 reward points
• Reward points may be redeemed through Kotak Rewards for mobile recharges, products, brand vouchers, movies, travel and other options available in the rewards catalogue
• Utility payments earn points only on spending of up to Rs. 35,000 in a statement cycle. Utility spending above this limit does not earn reward points
• Reward points are not earned on rent, fuel, railway, wallet-loading, EMI, education or balance-transfer transactions
• Insurance, government payments and online skill-based gaming transactions are also excluded from earning reward points
• Spending in excluded categories does not count towards any applicable milestone benefit
• The card has no joining fee and no annual renewal fee, making it lifetime free without any minimum-spending requirement
• Applicants must be at least 18 years old and must already hold an eligible Kotak Bank credit card

• Card Activation Benefit: Avail a Gift voucher worth Rs. 250 on making one transaction on the Biz Grow Credit Card within first 37 days of card issuance. Voucher is redeemable on top brands like Amazon, Swiggy & more
• Milestone Benefits: Obtain 2000 CashPoints every quarter on quarterly spends of Rs. 1,00,000.  (On all retail spends excluding rent and petrol). Redeem CashPoints against statement. (Earn 1 CashPoint = Upto Rs.0.25)
• Spend Rs. 1 Lakh in an anniversary year (12 billing cycles) to get Renewal Fee waived for next renewal year
• Up to 55 days Interest Free Credit Period
• Earn 2 Cash Points on every Rs.150 spent for your business needs
• Earn 10X Cash Points on selected Business spends such as:

1. Bill Payment via Payzapp & SmartPay

2. Income Tax/ Advance Tax payment via eportal.incometax.gov.in

3. GST payment via payment.gst.gov.in

4. Hotel & flight booking on MMT MyBiz powered by SmartBuy BizDeals

5. Business Productivity tools like Tally, Office 365, AWS, Google, Credflow, Azure & more via SmartBuy BizDeals - Nuclei 

6. Dmart

7. Cleartax

Note: 10X Cash Points applicable on minimum spends Rs. 10,000 in statement cycle

Maximum 1,500 Cash Points per statement cycle

• Make GST payment using Business Credit Card:  Via GST portal: payment.gst.gov.in 
• Pay Income Tax/ Advance Tax using Business Credit Card (eportal.incometax.gov.in)
• SmartBuy BizDeals:  

• Avail up to 40% savings on your Business travel and software purchase on smartbuy.hdfcbank.com/business  

1. Business Travel Benefits via MMT MyBiz :  

- 4% off on Flights and Hotels booking 

- Discounted Fares, Free Meal & Seat Selection, Low Fees for Cancellation   

2. Business Productivity Tools via – Nuclei :  

-  Instant discount on Business Software such as Google Workspace, Tally Prime, AWS, Microsoft Azure & more

- Get GST Invoice for availing Input Tax Credit  

• 1% fuel surcharge waiver at all fuel stations across India (on minimum transaction of Rs. 400 and maximum transaction of Rs. 5000)
• Dining Benefits: Enjoy FLAT 10% EXTRA OFF on dining bills at 35K+ restaurants
• SmartPay, an automatic payment facility available on the Credit Card to pay your utility bills, gives assured cashback up to Rs. 1800 in the first year and exciting e-vouchers worth up to Rs. 800 for adding 2 or more bills on Smart Pay
• Convert big spends into EMI after purchase
• Easy EMI: Choose EMI option for large online or in-store purchases using Biz Grow Credit Card and avail easy repayments using Easy EMI
• Zero Lost card liability
• Credit liability cover: Rs. 3 Lakh
• Business Insurance Benefit: Secure a Business with specially curated Business Insurance package:

- Avail Business Insurance package starting at an annual premium of Rs. 3,785 which includes:

a. Fire & Burglary insurance for Shop up to Rs. 5 Lakhs

b. Cash in Safe/Transit up to Rs.25,000

c. Electronic Equipment insurance excluding terrorism up to Rs. 50,000

d. Hospital Cash: Accident only amount payable per day up to Rs. 1000  

e. Hospital Cash: Illness only amount payable per day up to Rs. 1000 

Do note that the cardholders have the option to pick higher Business Insurance cover as per their Business need

• A minimum of 2500 CP is required to redeem CashPoints against statement balance
• Flights and Hotels redemption, Credit Card members can redeem up to a maximum of 50% of the booking value through CashPoints. Rest of the transaction amount will have to be paid via the Credit Card limit
• With effect from 1st February 2023, cardmembers can redeem upto 70% of product/Voucher value through CashPoints on select vouchers/products and pay the remaining amount via Credit card
• The maximum 15,000 CashPoints can be earned in a statement cycle
• Unredeemed Cash Points will expire/lapse after 2 year of accumulation

Pros

• Lifetime free with no joining or renewal fee
• Supports merchant UPI payments through compatible UPI apps
• Earns rewards on eligible UPI and regular card transactions
• Instantly accessible as a virtual card through Kotak Mobile Banking
• Reward points can be redeemed for vouchers, shopping, travel, movies and recharges

Cons

• Available only to existing Kotak credit-card holders
• No physical credit card is issued
• Low effective reward rate of approximately 0.30% on regular redemptions
• No rewards on fuel, rent, EMI, education, wallet loading and several other categories
• No complimentary lounge access or fuel-surcharge waiver

Pros

• Welcome Benfits
• Milestone Benefits
• Earn 10X Cash Points on selected Business spends

Cons

• No golf benefits
• No airport lounge access
• No reward points on fuel transactions