Rio, in collaboration with YES Bank and NPCI, has introduced the YES Bank Rio RuPay Credit Card.
This UPI-enabled card simplifies transactions by combining credit features with UPI functionality.
Users can use it to make purchases at over 100 million merchant locations nationwide.
The card offers a credit limit of up to Rs 5 lakh, along with personalized rewards and exclusive offers accessible through the “Know Your Offers” feature on the Rio app.
This card is exclusively for them
Residents of smaller cities are expressing significant interest in this credit card. During the beta launch, 60% of applications were from Tier 2 and Tier 3 cities.
The card is available to individuals aged 21 to 60, whether they are salaried or self-employed.
Applicants must have a minimum net monthly salary of Rs 25,000 or an annual income tax return of Rs 5 lakh.
However, current YES BANK credit card holders are not eligible for this offer.
This credit card is free for life
This card comes with no joining fee and is free for a lifetime. While it offers numerous benefits, certain transactions will incur charges.
A 1% fee plus GST will apply to utility payments exceeding Rs 15,000 in a month, with a maximum charge limit of Rs 3,000 per month.
Here’s how you can benefit:
Starting from October 2024, paying education fees through third-party apps like CRED or PhonePe will incur a 1% fee plus GST, with the fee capped at Rs 5,000 per calendar month.
Similarly, fuel transactions over Rs 10,000 will also attract a 1% fee plus GST, limited to Rs 5,000 per month.
For instance, a fuel purchase of Rs 20,000 using this card will incur a fee and tax of Rs 200.
