Different types of debit cards in India you need to know about
There was a time when people had to stand in queues at bank counters to withdraw money for use. Today, given social distancing requirements and the availability of alternatives like Debit Cards, a trip to the bank for getting some cash is completely optional.
Debit Cards are enormously convenient as you do not need to carry loads of cash all the time. You can use Debit Cards for all your financial transactions. These cards can be used to shop online and at different merchant locations. They can also be used to withdraw money quickly from ATMs. The latest contactless Debit Cards are extremely easy to use and provide extra protection from skimming devices used by miscreants. Moreover, they undergo less wear and tear with regular use compared to regular cards.
A Debit Card comes with almost all the features of a Credit Card, except it doesn’t allow you credit. They help you avoid excessive spending as they are directly linked to your bank account. It is advisable to register for email and SMS alerts so you can keep track of your transactions.
There are six different types of Debit Cards available in India. Let’s take a look at them.
Visa Debit Card: One of the most popular debit cards in India, Visa offers the Verified by Visa platform for enhanced security during online transactions.
Visa Electron Debit Card: Visa Electron Debit Cards are similar to Visa Debit Cards and can be used for transactions, the only difference being that they do not offer an overdraft facility.
Mastercard Debit Card: Accepted at millions of merchant locations worldwide, Mastercard is one of the most popular cards along with Visa. Their Debit Cards are rich in features and offer excellent benefits. However, the RBI has currently restricted Mastercard from issuing new Debit and Credit Cards due to non-compliance with data privacy norms. So, new Debit Cards from Mastercard are no longer available although existing card holders continue using their cards as before.
Maestro Debit Card: Owned by Mastercard, Maestro is a popular debit card used worldwide. Maestro keeps your money safe at all times with its state-of-the-art technology
RuPay Debit Card: Launched by National Payments Corporation of India (NPCI), RuPay is a first-of-its-kind domestic payment network. The card is more flexible than its competitors.
Contactless Debit Card: This card uses Near Field Technology (NFC) which helps you transact more safely and securely. To make a payment, all you need to do is tap or wave your card at a merchant’s payment terminal.
HDFC Bank has partnered with these companies and offers a wide range of debit cards to suit diverse consumer needs:
Times Points Debit Card: This Mastercard Debit Card earns you maximum Times reward points whenever you shop. Times Points is a digital loyalty program offering Times Points as currency. The minimum discount is 10%, and there is a welcome benefit of 500 Times points when you shop for the first time. It also provides personal accidental death cover.
JetPrivilege HDFC Bank Signature Debit Card: India’s first premium Visa Debit Card allows you to accumulate JP miles to redeem them for free flights. It offers card security in case your debit card gets misplaced or stolen. It also provides personal accidental death cover.
HDFC Bank Rewards Debit Card: You can earn up to 2000 reward points every month across five categories with this Visa Debit Card. It also provides personal accidental death insurance cover. Get rewarded every day with the Rewards Debit Card.
RuPay Premium Debit Card: The RuPay card is everything you would want in a debit card. It can be used at ATMs and for shopping in India and abroad. You get 5% cashback when you use it to pay your utility bills. It also provides personal accidental death/permanent disability cover.
EasyShop Debit Card: In association with Mastercard, Visa, and RuPay, HDFC Bank offers its customers feature-rich tiers under the EasyShop Debit Card. The tiers offered under Visa are – Classic, Gold, Platinum, Classic Platinum, and Imperia Platinum Chip; it also includes cards for NRO accounts and women. Mastercard tiers include Titanium, Titanium Royale, and Preferred Platinum; it also includes cards for business. RuPay offers an NRO Debit Card.
Get up to 5% CashBack on your shopping spends and increased ATM withdrawal limits depending on the tier of card you hold. Most of these cards offer security if your Debit Card gets misplaced or stolen. The cards also provide personal accidental death insurance cover.
The Business Debit Card helps secure your business with fire and baggage insurance cover. The Woman’s Advantage Debit Card offers 10.5% CashBack to meet all your shopping and lifestyle needs. The NRO Debit Card is designed especially for NRIs to use in India.
Go ahead, select an HDFC Bank debit card that’s best-suited for all your needs and enjoy unparalleled financial freedom! With our 24X7 Cardless Cash service, you can get instant cash at HDFC ATMs even without a physical card - uninterrupted shopping guaranteed!
Looking to apply for the HDFC Bank Debit Card? Click here.
When should you be opting for using a Debit Card over cash payments? Find out here!
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.