New Delhi: HDFC Bank unveiled four new credit cards tailored for small and medium enterprises (SMEs), aiming to meet the specific needs of entrepreneurs, freelancers, and professionals. They offer an interest-free credit period of 55 days and savings on essential business expenses such as utility bills, GST, income tax, vendor payments, business travel, and productivity tools.
A press release from the bank stated that these cards would complement their existing suite of SME payment solutions, including BizFirst, BizGrow, BizPower, and BizBlack, designed to cater to the diverse payment requirements of self-employed individuals and SMEs.
These cards have a unified digital platform that consolidates both payables and receivables for businesses. This platform streamlines vendor payments, utility bills, statutory payments, and supply chain management, providing a detailed dashboard for efficient cash-flow management.
Key features of the business credit cards include:
- Up to 55 days of interest-free credit, setting a new industry standard.
- Up to 10X reward points on business spends like bill payments, vendor payments, business travel, tax payments and business productivity tools.
- Specialised business insurance packages covering fire, burglary, cash in transit, and electronic equipment.
- An exclusive redemption catalogue tailored for business needs, offering rewards such as travel, Microsoft Office 365, Clear Tax, Amazon for Business, and Google Ads.
- EMI and loan facilities on the card.
