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"IDFC FIRST Bank Launches 'FIRST EAN RuPay Credit Card".

Banking & Finance | Dated: 22 Jan 2025

On January 20, 2025, IDFC FIRST Bank launched the 'FIRST EAN RuPay Credit Card' in collaboration with the National Payments Corporation of India (NPCI).

🎯 Key Highlights:

  • - The card is backed by a Fixed Deposit (FD), with eligibility requiring the customer to be an Indian citizen, over 18 years of age, and have an FD of at least Rs. 5,000 with the bank.
  • - The card is integrated with UPI, allowing users to make payments at over 60 million QR code locations and comes with instant online issuance for immediate use.

💡 Other Important Facts:

  • (i) New cardholders receive 100% cashback on their first UPI transaction (up to Rs. 500) within 15 days, refunding the first year's fees.
  • (ii) Users can earn 1% cashback on UPI transactions via the IDFC FIRST Bank app and 0.5% on other UPI app transactions, insurance, utility payments, and e-commerce purchases. The card offers 7.25% annual interest on a 1-year FD with the bank.
  • (iii) The card provides complimentary roadside assistance (Rs. 1,399 value), lost card liability coverage (up to Rs. 25,000), and personal accident coverage (up to Rs. 2,00,000).

📚 Test Your Knowledge:

Recently, which bank launched the 'FIRST EAN RuPay Credit Card'?

Correct Answer: IDFC FIRST Bank

🚀 Quick Recap:

About IDFC FIRST Bank Limited

  • MD & CEO : V. Vaidyanathan
  • Headquarter : Mumbai