8 Reasons Why You Should Invest In Debit Card

Your debit card should go well with your personality and requirement. Wherever you go it assists you cashless and spending as per your wish while shopping, bill payment and cash withdrawal from ATMs, etc.

But you can never imagine that simply owning a Debit Card could be so beneficial. The more you spend on your debit card, the more benefits and rewards are back to you.

Let’s understand and compare the intangible benefits of holding the best debit card against an annual charge. You will be surprised in unexpected ways that how a Debit Card can make your life better.

Always choose a privileged Debit card that values for money

Always go for a card that has special rights and advantages. Do not be stepped back for a little annual charge. Because you will ultimately enjoy the advantages.

Look upon these 8 money earning and saving benefits with your card. Check with your card, whether you count it or not !!

Cashback Offers

Avail cashback or discount offers up to 15 % even more on premium variant debit cards. With the higher variant cards there you may have chances of more cashback or discounts even up to 25 or 30%. Some time banks offer easy EMI with cashback offers on your valued debit card.

Cashback or discounts are being provided by banks on using your card at specific merchants on specific products.

This is because the E-commerce business companies started offering services at doorstep with a concept of cash on delivery. Though the concept seems delightful but involves risk.

To avoid that, the e-comm. companies attract customers with a wide range of discounts online through banks on cards. That dives more usage of cards to acquire a hassle-free and safety deal.

Opportunity is there to fill your wallet with cashback promos. Cashback and discounts will surprise you finding in your e-wallet that you can reutilize the amount while paying to any of the next transaction.

There is always an enhanced discount or cashback offer on high variant cards as a valued cardholder.

High withdrawal Limit

The use of ATM has become essential. But can you maximize your withdrawal on any kind of debit card you hold?

No, you have to have a high variant card that helps in times of need. 

When there is a consecutive bank holiday or property registration and many events like this you need cash in hand urgently to a larger amount, without visiting your bank branch.

But, there is a limit of withdrawing ATM cash on different cards, depends upon what type of debit card you hold. So always look for a privileged card that has an extensive feature of daily withdrawal limit.

Some of the debit cards from the official websites of the best banks in India featured with a high limit withdrawal

SBI Global International Debit card: Rs 50,000 /Day
Platinum International Debit card: Rs 100,000 /Day
HDFC
Bank
Platinum Debit card: Rs 1,00,000 /Day
Titanium Royale Debit card: Rs 75,000 /Day
ICICI
Bank
Privilege Banking Titanium debit card: Rs 100,000 /Day
Smart Shopper Gold Debit Card: Rs 75,000 /Day
Smart Shopper Silver Debit Card: Rs 50,000 /Day
Axis
Bank
Burgundy Debit Card: Rs 3,00,000 /Day
Titanium Prime and Plus debit cards: Rs 50,000 /Day
IDBI
Bank
Signature Debit Card: Rs 3,00,000 /Day
Platinum debit Card: Rs 1,00,000 /Day
Gold Debit Card: Rs 75,000 /Day

Accidental death insurance cover

One of the best features of a debit card that covers accidental insurance.  The sum insured amount depends on the variant of the card you hold. A higher variant card covers to a specific higher amount and vis-à-vis.

In addition to that, a customer can be eligible to an additional insured amount basis the more amounts digitally spent through the card in a month.

This coverage includes Rail, road, and air travel. There are specific conditions on certain coverage that vary from bank to bank.  Like HDFC bank provides a sum insured amount up to Rs 12, 00,000 on Easy shop platinum card.

For international coverage, if you have purchased the ticket using the HDFC Bank debit card you are covered with flat Rs 1 Cr. Just imagine the uncertainty of life is simply covered with just a debit card.  

Not only life, but all most all the debit cards also cover the loss of checked baggage, fire, and burglary to a certain amount.

This is to please remember, that your debit card must have been used at least once in a month or one transaction should have been carried out within the last 3 months prior to the occurrence date. 

However, the terms and conditions may differ slightly from bank to bank. So you need to go through knowing details while getting the best debit card for you.

Lounge access at selected airports

Relax, refresh your mind and spend time in an elite environment at airports across India and abroad while you are on travel. 

A best delightful option to a frequent flyer that is a complimentary lounge assess at selected airports via debit cards.

You are not required to buy an airport lounge day pass, not required even to join any lounge membership programs, etc.

This is a complimentary feature, which can be availed at domestic as well as international lounge access. The facility is also available for both VISA and Master card variants.

Check the details of eligibility and more facilities with your bank debit card while going on a travel.

Reward points

One of the best interesting and popular programs known as the Reward point program.

What it means, that on the value of every purchase you will be rewarded back with some points. That can be redeemed into gifts or payouts offered by your bank.

You can have a chance of earning more reward points by spending more on your debit card. Apart from cashback and discounts, this is also an additional benefit to you. 

You can save on an average of 5% or more spending at glossary outlets, purchasing tickets, medicine, shop online and fuel stations, etc.

Earning approximately 2 points on spending Rs 100 to Rs 150 at eligible merchants have never been a less amount. 

If we calculate our monthly expenditure, that can be eligible for more reward points.

The more you spent on the card, the more you earn.

Zero liability

The Zero liability means the cardholders will not be charged or responsible if any loss arises due to any unauthorized transaction. 

This coverage is only applicable where the customer did not initiate any transaction and reported for the loss.

This coverage is only applicable where the customer did not initiate any transaction and reported for the loss.

So please check out the laid down norms and conditions while going for the right card that is outlined by your bank in terms and conditions.

Such as any unknown transaction at POS, the card was stolen and used online, etc. should be reported to the bank immediately.

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