Are you looking for a flexible corporate credit card for your business? The Karur Vysya Bank (KVB) Corporate Credit Card could be what you are looking for. It is designed for MSMEs and corporations and is universally accepted.
Proprietors, partners, directors, and employees can use the card for business expenses. This card makes it unnecessary to disburse cash to your employees when they have to make business-related purchases.
We’ve had a look at the Karur Vysya Bank Corporate Credit Card, summarized our findings, and will share them with you in this article.
The Karur Vysya Bank Corporate Credit Card: Features
There are many benefits for businesses using the KVB Corporate Credit Card. The business earns two reward points for every Rs.100 spent with the KVB credit card and receives Rs.500 off on purchases of Rs.3,000 and above.
Certain service providers offer discounts or cashback for cardholders as well. For example, Lenovo offers 10% off its products. If you pay with your KVB Corporate Credit Card for Hotels.com bookings, you enjoy an 8% discount as well as 25% off at Treebo hotels.
When booking your room at Taj Hotels, Palaces, Resorts, and Safaris, you’ll enjoy a 10% discount. Cleartrip offers cashback up to Rs.1,000, and you get 25% off on the redBus mobile app when booking for the first time with your KVB Corporate Credit Card.
For flight bookings at Yatra.com, you get up to Rs.10,000 off. The Zoomcar website and mobile app offer a 20% discount. Plus, you get 15% off on all Zoho.com products and save 10% on the Office 365 Business Premium package.
Pros and Cons of the Karur Vysya Bank Corporate Credit Card
The Karur Vysya Bank Corporate Credit Card offers more benefits and rewards than most other corporate cards. Most of your travel expenses for flights, hotels, and other related services will earn you discounts or cashback.
The Corporate Credit Card from KVB offers a smart and flexible expense management solution for your business, and you can approve cards for proprietors, partners, directors, and employees.
You have up to 45 days of an interest-free grace period, so the credit card extends your business’ credit line. However, you may realize that some fees are relatively high compared to other cards. You can learn more about these fees in the next section.
The Karur Vysya Bank Corporate Credit Card: Fees and Rates
The fees and rates are variable and can always be checked on the official Karur Vysya Bank website. Below are the current rates and fees as advertised online.
- Interest-free grace period: Up to 45 days
- Minimum repayment amount: 5% or Rs.100
- Cash advance limit: 10% of the credit limit
- Entrance fee: Rs.1,000 per card
- Annual fee: Rs.1,000 per card
- Card replacement fee: Rs.500
- Cash withdrawal: 2% of cash withdrawn or Rs.100, whichever is the greatest
- Charges on revolving credit: 2.95% per month (35.40% annum)
- Late payment charges: Rs.500
- Charges on over limit: Rs.500
- Payment return charge: Rs.500
- Cash processing fee: Rs.100 for cash payments via KVB branches
- Rewards redemption fee: Rs.100
- Petrol transaction surcharge: 2% to a maximum per month of Rs.300
- Foreign currency transactions: Up to 3.5%
- Cash from ATMs: 2% or Rs.100, whichever amount is greatest
To apply for the Karur Vysya Bank Corporate Credit Card, you’ll likely be asked for certification by the company’s secretary that the board has authorized the application and designated the authorized signatories. Your business’ income, expenses, and cash flow details will also be required. Every application for the Corporate Credit Card is considered individually.
How to Get the Karur Vysya Bank Corporate Credit Card
If your business wants to apply for the Corporate Credit Card from Karur Vysya Bank, you have to send an email to email@example.com or phone the bank toll-free at 1800-410-6500. A representative will then provide instructions on how to proceed with the application process.
The Karur Vysya Bank Corporate Credit Card: Address and Contact
If you want to contact the bank for more information, you can find Karur Vysya Bank’s main address at Erode Road, Karur, Tamilnadu, 639002. Alternatively, you can call the bank at 1800-419-6599.
The Karur Vysya Bank Corporate Credit Card can assist your business in simplifying your cash management and make it easy for your employees to pay for company expenses without carrying a lot of cash.
Disclaimer: There are risks involved when using credit card products. Always be sure to read the bank’s terms and conditions page for more information.