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HDFC Bank Biz Grow Credit Card Benefits, Feature and Review

HDFC Bank has introduced HDFC Bank Biz Grow Credit Card for small business and enterprise. Biz Grow Credit Card offers 55 days interest free credit period. Joining fee of Rs 500/- makes HDFC Biz Grow Credit Card more affordable. Business expense of Rs. 1 lacs done using Biz Grow Credit card helps in waiver of renewal and annual fee for next financial approval on Biz Grow Credit card

HDFC Bank Biz Grow Credit Card

Please find detailed review of HDFC Bank biz grow credit card as mentioned below:

  1. Eligibility Criteria for HDFC Bank Biz Grow Credit Card
  2. Fees & Charges for HDFC Bank Biz Grow Credit Card
  3. Features and Benefits for HDFC Bank Biz Grow Credit Card
  4. Rewards with HDFC Bank Biz Grow Credit Card Rewards
  5. Review and Summary for HDFC Bank Biz Grow Credit Card

1. Eligibility Criteria for HDFC Bank Biz Grow Credit Card

HDFC Biz Grow Credit Card is an affordable business credit card for small and medium enterprises. Eligibility criteria for HDFC Bank Biz Grow Credit Card is mentioned below:

  1. Age limit – Minimum 21 Years and Maximum 65 Years.
  2. Nationality – Applicant should be Indian citizen
  3. Income Profile – This card is available only for Self Employed individuals.
  4. Income Criteria – Applicant should have annual income tax returns above Rs. 6 Lakhs
  5. Documents Required – Applicant can apply for credit card using their ITR, GST Returns, Bank Statement, and Merchant Payment reports.

Click here to Check Your Eligibility

2. Fees & Charges for HDFC Bank Biz Grow Credit Card

Transparency is the best policy therefore, every credit card holder must be aware about applicable charges, below are some common charges applicable (these charges are subject to change without any prior notice and sole discretion to credit card issuance company)

  1. Spend Based Waiver – Renewal Fee is Waived on Spends of Rs. 1 Lakh in a card Anniversary Year
  2. Rewards Redemption Fee- Rs. 99
  3. Foreign Currency Markup – 2%
  4. Interest Rate- 3.60% Monthly (43.20% Annually)
  5. Fuel Surcharge – N/A
  6. Cash Advance Charges – 2.5% OR Rs. 500/- Whichever is higher.
  7. Add-on Card Fee – Nil

3. Features and Benefits for HDFC Bank Biz Grow Credit Card

  • Welcome Benefits / Activation Benefits:

HDFC Bank gives Gift voucher worth Rs.250 on making one transaction on your Biz Grow Credit card within first 37 days of card issuance. Voucher is redeemable on top brands like Amazon, Swiggy & more. therefor do not miss to activate your card and do 1st transaction soon after receiving the credit card within first 30 days of card issuance.

  • Milestone Benefits:

Biz Grow Credit Card gives you opportunity to earn 2000 Cash Points every quarter on your quarterly spends of Rs. 1,00,000.  (On all retail spends excluding rent and petrol) 

January – March, April – June, July – September, October – December is considered as Quarter or Calendar Quarter in Calendar year.

  • Dinning Benefits:

With HDFC Biz Grow credit card you can enjoy up to 20% savings on all your restaurant bill payments with Swiggy Dineout on paying via Swiggy App using your card. This is available over above 20,000 plus restaurants.

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  • Lounge Access Benefits:

HDFC Biz Grow Credit Card does not offer Domestic and International Lounge Access. To avail international lounge access benefits we recommend you to check other lounge access benefits credit card. Please read our HDFC Bank Biz Black Metal Edition Credit Card and HDFC Biz Power credit card review blog to check International Lounge access benefits.

  • Concierge Services Benefits

HDFC Bank Biz Grow Credit Card is not a premium credit card therefore Concierge Services are not available with Biz Grow Credit Card. Concierge Services are available with HDFC Bank Biz Black Metal edition credit card. Please visit our blog on HDFC Bank Biz Black Metal Edition Credit Card. 

  • Golf Games Benefits

Golf Games Benefits as not available with HDFC Bank Biz Grow Credit Card. HDFC Bank offers Golf Games Access Benefit with HDFC Bank Biz Black Metal edition credit card. For Details on Golf Games Benefits Please visit our blog on HDFC Bank Biz Black Metal Edition Credit Card. 

  • Renewal Fee Waiver Benefits

Renewal Fee waived off if you spend Rs 1 Lakh and more in the previous year.

  • Zero Liability Protection Benefits

Cardholder will not be liable to for any Fraudulent Transaction if the Card is Reported Lost or Stolen to the bank in timely manner.

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  • Additional Benefits

Get 1% fuel surcharge waiver at all fuel stations across India (on minimum transaction of ₹400 and maximum transaction of ₹5000. Max Cashback of ₹250 per statement cycle)

Get assured cashback upto Rs. 1800 in the first year and exciting e-vouchers worth upto Rs.800 for adding 2 or more bills on Smart Pay. SmartPay is an automatic payment facility available on your Credit Card to pay your utility bills.

Convert large purchases amount into small EMI

Business Insurance package starting at an annual premium of Rs 3785/-.

Enjoy Credit Liability Cover of Rs. 3 Lakhs.

4. Cash Point for HDFC Bank Biz Grow Credit Card

HDFC Bank Biz Grow Credit Card offers unique and decent Cash points structure with this credit card. Card holder can earn up to 2 cash Points on every Rs. 150 spent for all your business needs except petrol and wallet recharge and rent.

Cardholder can maximise his savings for his business with HDFC Bank Biz Grow credit card as it gives opportunity to earn accelerated 10X cash points on select business spends as mentioned below:

1. Bill Payment via Payzapp & SmartPay

2. Income Tax/ Advance Tax payment via View steps 

3. GST payment via view steps.

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

Please note 10X Cash Points applicable on minimum spends Rs. 10,000 in statement cycle and Card Holder can earn maximum 1,500 Cash Points per statement cycle.

How to Redeem Cash Points or Cash Back

Cash Points you can redeem it as mentioned.  There are multiple ways to redeem reward points,  Click here to know how to redeem your cash points

Type of Redemption1 Reward Point Equivalent toDetails with Example
Redeem as cashback against statement Rs. 0.251000 RP = Rs.250 
Redeem on SmartBuy (against Flights/Hotel booking) Rs. 0.251000 RP = Rs.250 
Redeem against Product Catalogue via Netbanking & SmartBuy  Up to Rs. 0.251000 RP = Up to Rs.250
Redeem against Business Catalogue via Netbanking & SmartBuy Up to Rs. 0.301000 RP = Up to Rs.300 

Things to remember before redeeming cash points

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

5. Review / Summary HDFC Bank Biz Grow Credit Card :

HDFC Bank Biz Grow Credit Card is an basic credit card for small enterprises. it offers unique and decent reward program for small and medium businesses. It offers 2 Cash Points on spending of Rs 150/-.

The value of each cash point can go up to Rs. 0.30, which is quite impressive given the credit card’s annual fee of Rs 500/- only.

Additionally, you can earn 10X cash Points for specific transactions such as Dmart, Cleartax, Tax Payments, and Vendor Payments. These transactions are essential for many businesses, and higher cash points on them can help you save money while growing your enterprise.

The Biz Grow Credit Card is a must-have for enterprise and small businesses, while large business should consider checking out the Biz Black Credit Card.

We are tried our best to give the maximum, what are your thoughts on this business credit card? Let us know in the comments below.

Disclaimer: This blog is published for convince of website users and support financial literacy/ education purpose on best effort basis. Information published here are subject to change/modification as and when credit card issuing bank decide to change. Issuance of credit card, change/modification in Fees, Charges, Terms and conditions, Benefits, and feature are sole discretion of Card issuing bank/HDFC Bank.  Please visit credit card issuing bank website or branch before applying for credit card. The Blog writer and shall not be held responsible for any change made by credit card issuing bank.

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