Q1) What is the HDFC Bank Dealer Card program?
Ans: HDFC Bank Dealer card program is a commercial credit card offered to petrol pump dealers who procure fuel from oil marketing companies.
Q2) What is the credit period offered?
Ans: The credit period offered is 15+7 days i.e. up to 22 days of credit period.
Q3) How much does a Dealer Card cost?
Ans: There are no charges for issuance or card usage however there is an interest rate charged on the purchase transactions made by Dealers.
Q4) Do Dealer Cards help save money?
Ans: Fuel surcharge is not applicable on online fuel purchase transactions thus saving some cost to petrol pump dealers.
Q5) When does the payment settlement happen to Oil Marketing Company?
Ans: T+1 day, T being the transaction date i.e. settlement happens on the next working day of HDFC Bank.
Q6) What is the minimum payment amount?
Ans: Payment Term: 30% Minimum Amount Due (MAD) is to be cleared by due date.
Q7) Can the Dealer card be used for any type of purchases?
Ans: No, HDFC Bank Dealer credit cards are designed specifically for purchasing fuel from selected oil marketing companies by the petrol pump dealers only and will not work for other type of purchases.
Q8) How is the card used by the customer?
Ans: The customers (dealers) are provided an online platform to login and raise an indent to purchase fuel from the oil marketing companies where they input their credit card details.
Q9) Is there a penalty if the customers do not pay by due date?
Ans: Yes, there is an increase interest rate applicable if customer defaults i.e. doesn’t clear dues by due date in addition to the late payment charges.