HDFC Biz Grow Credit Card

About HDFC Biz Grow Credit Card

Are you running a small business but still using a personal credit card for your expenses? If you are, you are likely missing out on thousands of rupees in savings specifically designed for business owners. The HDFC Biz Grow Credit Card is built to fix that.

This card helps you save up to 40 percent on essential business software like Tally, AWS, and Google Workspace. For a modest annual fee of ₹500, you can access business insurance and travel discounts that are usually reserved for high-end corporate accounts. It is a practical tool for professionals who want to separate their business and personal spends while getting rewarded for every rupee spent.

Targeted at self-employed individuals earning ₹6 lakh or more annually, this card fits perfectly for freelancers, tech consultants, and small shop owners. If you spend at least ₹1 lakh in a year on your business operations, the card becomes effectively free as the renewal fee gets waived.

What sets it apart:

• Software Savings: Get up to 40 percent off on Tally, AWS, and Microsoft Office 365, which is much higher than standard retail cards.
• Comprehensive Insurance: Includes a business insurance package covering fire and burglary up to ₹5 lakh.
• Dining Perks: Save 20 percent on restaurant bills via Swiggy Dineout, perfect for client meetings.

Quick check: To qualify, you will need a minimum income of ₹4 lakh (salaried) or ₹6 lakh (self-employed) and a credit score of 720-750. Here is a breakdown of why this card stands out for growing businesses:

Key Benefits and Features of HDFC Biz Grow Credit Card

The HDFC Biz Grow Credit Card is more than just a payment tool; it acts as a savings engine for your business overheads. Here are the features and benefits you can expect:

Massive Discounts on Business Software

One of the strongest features of this card is the SmartBuy Biz Deals platform. You can get up to 40 percent discount on essential software purchases. This includes popular tools like Tally, Microsoft Office 365, AWS, and Google Workspace. For a small tech startup or a consultancy, this benefit alone can save you thousands of rupees every year, far outweighing the annual fee.

Business Travel Savings

If your work requires you to travel, the MMT MyBiz partnership via SmartBuy Biz Deals is a major plus. You can get up to 4 percent off on hotel bookings and around 3 percent off on domestic and international flights. While these percentages might look small, they add up significantly if you book travel for yourself or your team monthly.

Unique Business Insurance Package

Unlike standard cards, the Biz Grow offers a business insurance package with an annual premium of approximately ₹3,785. This provides essential protection for your physical office or workspace:

• Fire and burglary cover for your premises up to ₹5 lakh.
• Coverage for electronic equipment up to ₹50,000.
• Protection for cash in safe or transit up to ₹25,000.
• Hospital cash benefit of up to ₹1,000 per day in case of illness or accident.

Rewards and Cash Points

You earn rewards in the form of Cash Points on your daily spends. Each Cash Point is valued at ₹0.25. To start earning, you must activate your card by making a minimum transaction of ₹100 within the first 30 days. It is important to note that certain categories do not earn points, such as rent, fuel, insurance, and EMI transactions. However, for general business procurement, the rewards provide a steady value-back.

Dining and Lifestyle

Business happens over meals, and HDFC Biz Grow makes that cheaper. You get up to 20 percent discount on restaurant bills when you pay through Swiggy Dineout. This is a great way to manage client entertainment expenses without overshooting your budget.

Fuel Surcharge Waiver

You get a 1 percent fuel surcharge waiver at all fuel stations across India. This applies to transactions between ₹400 and ₹5,000. The maximum waiver is capped at ₹250 per statement cycle, providing a small but consistent saving on your commute or logistics costs.

Annual Fee and Waiver Conditions

The HDFC Biz Grow Credit Card comes with a joining fee of ₹500 and an annual fee of ₹500. However, the bank offers a straightforward way to waive this. If you spend ₹1 lakh or more in your anniversary year, the renewal fee is waived. For most active businesses, spending ₹8,500 a month is an easy target, making this an effectively free credit card.

Welcome Benefits

As soon as you get the card and make your first transaction within 37 days, you receive a gift voucher worth ₹250 from top brands. This covers half of your joining fee immediately.

How to Apply for HDFC Biz Grow Credit Card?

The application process is straightforward and can be completed online or offline. Follow these steps to apply:

1. Check Your Eligibility: Ensure you meet the age criteria (21-60 for salaried, 21-65 for self-employed).
2. Verify Income Requirements: You should have a minimum annual income of ₹4 lakh if you are salaried, or ₹6 lakh if you are a business owner.
3. Check Your Credit Score: A CRIF score of 720 for salaried or 750 for self-employed is generally required for a smooth approval.
4. Visit the Portal: Go to the HDFC Bank official website or the BankKaro platform to start your application.
5. Fill the Form: Enter your PAN details, mobile number, and business or employment information.
6. Submit Documents: Upload your digital copies of identity and income proof.
7. Complete KYC: A bank representative will contact you for a physical or video KYC to verify your details.

If you have any questions regarding the processing timeline, contact the bank for details on current application speeds.

Credit Limit and What to Expect

Credit limits are assigned based on your income, credit score, and existing banking relationship. Contact the bank directly for information on expected credit limits for your specific profile.

Generally, for a card with these income requirements, you can expect a starting limit that comfortably covers your monthly business software and travel costs. If you maintain a good repayment history and keep your credit utilization low, you can request a limit increase after 6-12 months of usage.

Comparison Table: HDFC Biz Grow vs. Competitors

To understand if the HDFC Biz Grow is right for you, it is helpful to see how it stacks up against other entry-level business and savings cards in India.

While the SBI and Axis cards are great for generic retail spending, the HDFC Biz Grow is the clear winner if your business relies on digital tools and software. The inclusion of a dedicated business insurance package at this price point is a feature that competitors struggle to match.

Documents Required for HDFC Biz Grow Credit Card Application

You will need to submit the following documents when applying for the card:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License.
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), Rent Agreement, or Property Tax Receipt.
• Income Proof: Latest 3 months salary slips and 6 months bank statements.
• Employment Proof: Office ID card or employment letter.

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License.
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), or Property Documents.
• Income Proof: Latest 2 years ITR with computation of income, 6 months bank statements, and CA-certified financials.
• Business Proof: Business registration certificate, GST registration (if applicable), or Shop Act License.

Note: All documents must be self-attested. The bank may request additional documents during the verification process.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the HDFC Biz Grow Credit Card features:

The Tech Freelancer: If you are an IT professional or a digital marketer earning ₹8 lakh annually, you likely spend heavily on AWS, Google Workspace, and Adobe. By using this card, you can get a 40 percent discount on these recurring costs. If you spend ₹10,000 monthly on these tools, you could save up to ₹48,000 a year, making this card an incredible investment.

The Small Shop Owner: If you have a brick-and-mortar store, the insurance benefit is vital. For a very low premium, your stock and equipment are protected against fire and burglary. This peace of mind, combined with the fuel surcharge waiver for your logistics, makes it a solid companion for traditional business owners.

The Traveling Consultant: If you book flights and hotels 3-4 times a year for client visits, the 3-4 percent discount via MMT MyBiz helps you keep your overheads low. When combined with the 20 percent dining discount, it covers almost every aspect of a business trip.

You might want to skip this card if:

• You are looking for complimentary airport lounge access, as this card does not offer it.
• Your primary spending is on fuel, rent, or insurance, as these categories are excluded from reward points.
• You prefer a simple cashback card for personal shopping rather than business-specific discounts.

BankKaro Expert Review

Based on the features, the HDFC Biz Grow excels at providing massive value to very small businesses and freelancers. It is rare to see a card with a ₹500 fee offer such significant discounts on high-ticket software like Tally or AWS. The inclusion of a fire and burglary insurance package is a standout move by HDFC, showing they understand the risks small business owners face.

The biggest limitation of this card is the extensive exclusion list. Since rent, insurance, and utility payments do not earn rewards, the card loses some of its shine for businesses that have high fixed costs in these areas. Additionally, the lack of any airport lounge access makes it less appealing for frequent flyers.

Our verdict: Choose this card if you are a "digital-first" small business owner or professional. The software discounts and business insurance provide far more value than the rewards points ever will. It is a specialized tool that performs exceptionally well in its niche.

Terms and Conditions

Please keep the following terms in mind before applying for the HDFC Biz Grow Credit Card:

• The bank may offer a different card variant based on your eligibility. Please carefully read the features of the card offered before submitting your application.
• A minimum transaction of Rs.100 within 30 days of card issuance is required to activate the card.
• Failure to activate the card within the first 30 days will make you ineligible for the welcome rewards and gift vouchers.
• Rewards are not applicable on transactions involving rent payments, fuel, insurance, EMI, wallet loads, and government-related payments.

For complete terms and conditions, please visit the bank's official website or contact customer care.