IDFC FIRST Bank Launches FIRST EARN Credit Card With Fixed Deposit & UPI Cashback

IDFC FIRST Bank, in collaboration with RuPay, has introduced a new UPI-enabled credit card named FIRST EARN, offering instant online access.

The unique feature of the FIRST EARN card is its integration with a Fixed Deposit, ensuring that everyone is eligible to avail of the credit card instantly.

In addition, cardholders can earn cashback on UPI payments, adding more value to each transaction.

Earn Interest With Fixed Deposit Link

What sets the FIRST EARN card apart is its seamless Fixed Deposit creation during the application process, giving customers the opportunity to earn interest while using the card.

This integration however allows users to enjoy credit on UPI transactions, earn rewards, and benefit from attractive interest rates on Fixed Deposits.

The card also offers access to over 60 million UPI-enabled merchants across India. Customers can earn up to 1% cashback on every UPI transaction, making it a rewarding experience for cardholders.

Shirish Bhandari, Head of Credit Cards, FASTag, and Loyalty at IDFC FIRST Bank stated, “We are thrilled to announce the launch of the FIRST EARN RuPay Credit Card, specifically designed for first time Credit Card users as a gateway product to the financial services.”

“This fixed deposit backed credit card is available online and instantly makes every day UPI payments super rewarding with a simple 1% cashback credited automatically to the card account. It inherently offers efficient money savings and growth with the linked interest-earning Fixed deposit- building credit, investment, and financial health together. It continues our philosophy of customer centricity in product conception and design – #getmorefromyourbank,” he further added.

Rajeeth Pillai, Chief of Relationship Management at NPCI stated, “We are happy to launch FIRST EARN RuPay Credit Card in partnership with IDFC FIRST Bank. This UPI-enabled virtual credit card is designed to make transactions both convenient and highly rewarding for cardholders. Through this offering, we are further enhancing credit accessibility while delivering greater value to users.”

Features & Benefits:

• Seamless UPI Integration: The FIRST EARN Credit Card is ready for use with over 60 million UPI-enabled merchants.
• Instant Card Issuance: Receive a virtual credit card instantly, ready for UPI transactions.
• Maximum Availability: The secured credit card requires a fixed deposit and is accessible to all.
• Cashback Offer: New cardholders get 100% cashback on their first UPI transaction, up to Rs. 500, within 15 days of card creation.

Cashback Rewards

• 1% cashback on UPI transactions via the IDFC FIRST Bank app.
• 0.5% cashback on transactions through other UPI apps and purchases like insurance, utility bills, and e-commerce.
• Movie Offer: Get a 25% discount up to Rs. 100 on District by Zomato movie tickets.
• Fixed Deposit Interest: Earn 7.25% p.a. on a 1-year Fixed Deposit.

Comprehensive Protection:

• Complimentary roadside assistance worth Rs. 1,399.
• Lost card liability cover of Rs. 25,000.
• Personal accident cover of Rs. 2,00,000.

Customers can however apply for the FIRST EARN Credit Card through the bank’s website, which reflects IDFC FIRST Bank’s ongoing commitment to providing convenient and innovative products.

IDFC FIRST Bank

IDFC FIRST Bank, formed after the merger of IDFC Bank and Capital First in 2018, offers a range of banking services, including retail, corporate, MSME, and rural banking.

The bank is known for its ethical and customer-friendly approach, offering products designed with transparency and ease.

NPCI

The National Payments Corporation of India (NPCI) is responsible for overseeing retail payment systems in India.

It has introduced various innovations such as the Unified Payments Interface (UPI) and RuPay, transforming the country’s digital payments landscape and promoting financial inclusion.

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