IDFC FIRST Bank launches FIRST EA₹N RuPay credit card with UPI, FD, cashback features 

IDFC FIRST Bank has come up with a UPI-enabled FIRST EA₹N RuPay Credit Card this week, marking the collaboration between the bank and RuPay to provide a convenient and rewarding option for customers. This credit card is an excellent option for individuals who are new to using credit cards, as it is secured by a fixed deposit (FD) and is easily accessible to anyone. 

In addition, users can enjoy cashback rewards on UPI payments, making it an attractive and cost-effective financial solution. The process of creating a Fixed Deposit is seamlessly incorporated into the credit card application for all customers.

Top features:

1. Customers have the opportunity to receive a yearly interest rate of 7.25% on a fixed deposit with a duration of 1 year and 1 day.

2. The FIRST EA₹N Credit Card is obtained by securing a Fixed Deposit. In order to establish your credit limit, you are required to open a FD. After the successful creation of your FD, a lien will be placed on the entire value of the FD. Subsequently, your FD will be connected to your FIRST EA₹N Credit Card and your credit limit will be determined.

3. The FIRST EA₹N RuPay Credit Card on FD has a joining fee (1st year) of Rs. 499 + GST and an annual fee (2nd year onwards) of Rs. 499 + GST.

4. The FIRST EA₹N Credit Card is equipped for UPI transactions at over 60 million UPI QR codes.

5. You can instantly receive a virtual credit card with UPI integration for immediate usage.

6. As a special launch offer, new cardholders will receive 100% cashback on their first UPI transaction amount, up to Rs 500, within 15 days of card activation - effectively covering the first-year fees with cashback.

7. Earn 1% cashback on UPI transactions using the IDFC FIRST Bank app and 5% cashback on transactions made through other UPI apps, as well as on insurance, utility bills, and e-commerce purchases.

8. The first EA₹N RuPay Credit Card holder will receive a complimentary roadside assistance package valued at Rs 1,399, lost card liability cover of Rs 25,000, and personal accident insurance of Rs 2,00,000.