The "Rio - UPI RuPay Credit Card" is a co-branded credit card issued by YES Bank in partnership with Rio.
Here's a detailed look at its features, benefits, eligibility, and fees:
Key Features & Benefits:
UPI Integration: This is the standout feature. You can link your Rio RuPay Credit Card to UPI apps (like Google Pay, PhonePe, Paytm, etc.) and make payments by scanning QR codes.
3 This effectively extends your credit limit to UPI transactions.Cashback/Rio Coins:
3% Rio Coins on UPI transactions above ₹100 made via the Rio UPI platform (which is accessed through the Rio app itself).
4 1% Rio Coins on non-UPI transactions above ₹100.
Redemption: Rio Coins can be redeemed directly as cashback to your credit card statement or potentially other options. (Note: 4 Rio Coins usually equal ₹1, meaning the 3% on UPI translates to a 0.75% effective cashback rate if redeemed as cash to your statement).
Lifetime Free Option: The card is often advertised as "Lifetime Free" (Nil Joining Fee and Nil Annual Fee), making it an attractive option for those looking to avoid recurring charges.
5 However, some sources indicate a ₹399 + GST annual fee that can be waived off on annual retail spends of ₹1,20,000 or more. It's crucial to confirm the current fee structure during application.Complimentary Lounge Access: You typically get 2 complimentary domestic lounge visits per calendar quarter in India.
Fuel Surcharge Waiver: A 1% fuel surcharge waiver is usually offered on fuel spends across all fuel stations, often with transaction limits (e.g., between ₹400 - ₹5,000 per transaction and a maximum waiver per statement cycle).
Fully Digital Experience: The application, management, and tracking of the card are primarily done through the Rio mobile app, offering a seamless digital experience.
6 EMI Option: You can convert large purchases into easy EMIs.
7 Credit Limit: Offers a credit limit typically up to ₹5,00,000.
Referral Program: Rio also has a "Refer & Earn" program, where you and your friends can get rewarded for successful referrals.
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Fees and Charges (Please verify the latest on the official Rio/YES Bank website):
Joining Fee: Often Nil (Lifetime Free).
Annual Fee: Often Nil (Lifetime Free), or ₹399 + GST (waived on annual retail spends of ₹1,20,000).
Finance Charges: Typically around 3.8% p.m. (45.60% p.a.) on outstanding amounts if the bill is not paid in full by the due date.
9 Late Payment Fee: Varies based on the outstanding amount (e.g., Nil for small amounts, increasing up to ₹1,200 for higher outstanding balances).
Forex Markup Fee: Usually 3.50% on international transactions.
Other Fees:
Rent Payments: A fee (e.g., 1% + GST) may apply, with caps on the number of transactions or total amount.
10 Wallet Load: A fee (e.g., 1% + GST) may apply.
Utility & Education Payments: Fees may apply for certain thresholds or through third-party platforms (e.g., 1% + GST on utility transactions above ₹15,000/month or education transactions).
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Eligibility Criteria:
Age: Generally between 21 and 60 years.
Occupation: Salaried employees or self-employed individuals.
Income: Minimum net monthly salary of ₹25,000 or an Income Tax Return (ITR) of ₹5 Lakh per annum.
12 Credit Score: A good credit score (typically 720+) is usually required.
Existing YES Bank Credit Card Holders: Existing YES Bank credit card holders are generally not eligible for this specific card.
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How to Apply:
You can apply for the Rio - UPI RuPay Credit Card primarily through the Rio mobile app. The application process is designed to be fully digital and paperless. You'll typically need to provide:
PAN Card
Aadhaar Card (for KYC)
Income proof (salary slips, bank statements, or ITR)
Considerations:
Cashback Calculation: While 3% Rio Coins sounds high, remember to check the redemption value (e.g., 4 Rio Coins = ₹1).
Merchant Categories: Ensure you understand which merchant categories are eligible for rewards and which are excluded (e.g., fuel, rentals, wallet loads, some utility/education payments are often excluded or have separate fees).
14 Digital-First: The card is heavily integrated with the Rio app. If you prefer traditional banking interfaces or physical card management, this might be a point to consider.
Customer Support: While digital is convenient, ensure you are comfortable with the customer support channels provided by Rio and YES Bank.
The Rio - UPI RuPay Credit Card is a good option for individuals who frequently use UPI for merchant payments and want to leverage credit card benefits for those transactions, especially given its potentially lifetime-free status and lounge access benefits.
