YES Bank’s BYOC (Build Your Own Credit) Credit Card is a unique offering that allows you to customize and personalize your credit card experience like never before, giving you the power to design your own card and tailor it to your specific needs and preferences. One of its standout features is the ability to adjust your credit limit and interest rates based on your financial circumstances, and it offers a range of rewards and benefits tailored to your spending patterns, such as cashback, air miles, or exclusive discounts and offers from partnering merchants.
Yes Bank BYOC Card
Joining: 499 INR + taxes
Renewal fee: 499 INR + taxes
Rewards: Up to 10X Reward points on shopping, dining, lifestyle.
Welcome Benefits: Amazon voucher (for an amount as per the offers live at that point of time)
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Features & Benefits of Yes Bank BYOC Card
Customizable Credit Limit: The BYOC Credit Card from YES Bank allows you to choose your credit limit based on your financial capacity and spending habits. This feature empowers you to manage your credit limit effectively and avoid overspending.
Attractive Rewards Program: Earn reward points on every eligible purchase you make using the BYOC Credit Card. These reward points can be redeemed for a wide range of exciting offers, including vouchers, merchandise, and even air miles.
Fuel Surcharge Waiver: Enjoy a waiver on fuel surcharges when you refuel your vehicle using the BYOC Credit Card at participating petrol pumps. This benefit can help you save a significant amount of money, especially if you frequently travel by car.
Complimentary Access to Airport Lounges: As a BYOC Credit Card holder, you can avail of complimentary access to select airport lounges, both domestically and internationally. This perk allows you to unwind and relax before or after your flight.
Discounts on Dining and Entertainment: Get exclusive discounts and offers at partner restaurants, movies, and entertainment venues when you use your BYOC Credit Card for payments. This benefit enhances your dining and leisure experiences while helping you save money.
Zero Lost Card Liability: YES Bank’s BYOC Credit Card offers zero lost card liability, meaning you won’t be held responsible for any unauthorized transactions if your card is lost or stolen, provided you report the incident promptly.
Easy EMI Conversion: Convert your high-value purchases into convenient EMIs (Equated Monthly Installments) at attractive interest rates using the BYOC Credit Card. This feature helps you manage your finances more effectively.
24/7 Customer Support: Enjoy round-the-clock customer support from YES Bank’s dedicated team for any queries or issues related to your BYOC Credit Card. They are always ready to assist you.
Attractive Joining and Annual Benefits: Depending on the variant of the BYOC Credit Card you choose, you may be eligible for attractive joining and annual benefits, such as discounts on hotel bookings, gift vouchers, and more.
Secure Transactions: YES Bank’s BYOC Credit Card incorporates advanced security features, including Chip and PIN technology, to ensure that your transactions are safe and secure, providing you with peace of mind.
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Fees & charges of Yes Bank BYOC Card
Annual Fee: The YES Bank BYOC Credit Card comes with an annual fee of Rs. 499 + applicable taxes. However, this fee is reversed if you spend above Rs. 5 lakhs annually on your card.
Joining/Renewal Fee: There is no separate joining or renewal fee for this card. The annual fee covers both joining and renewal charges.
Interest Rate: The interest rate on the YES Bank BYOC Credit Card varies from 3.25% per month (39% annualized) to 3.5% per month (42% annualized), depending on your credit history and repayment track record.
Late Payment Charges: If you miss your due payment date, you’ll be charged a late payment fee of Rs. 500 or 2.5% of the outstanding amount, whichever is higher.
Cash Advance Fee: For withdrawing cash using your BYOC card, you’ll have to pay a transaction fee of 2.5% of the withdrawn amount, subject to a minimum of Rs. 300.
Over-Limit Fee: If you exceed your credit limit, an over-limit fee of 2.5% of the over-limit amount or Rs. 500, whichever is higher, will be levied.
Foreign Currency Transaction Fee: For transactions made in foreign currencies, an additional fee of 3.5% of the INR equivalent amount will be charged.
Fuel Surcharge: There are no fuel surcharges on transactions made at petrol pumps within India.
Railway Ticket Booking Charges: You can book railway tickets using your BYOC card without any extra convenience fees.
Rewards and Cashback of Yes Bank BYOC Card
The YES Bank BYOC (Build Your Own Credit Card) offers a range of reward and cashback options to cater to diverse customer preferences and spending patterns.
- For those who love to dine out, there’s the “Dining Delights” variant that offers 10X rewards on dining, food delivery, and grocery spends.
- Frequent travelers can opt for the “Travel Treats” variant, which rewards them with 10X points on travel-related expenses like air tickets, hotels, and cab rides.
- Shoppers can choose the “Shopping Spree” variant and earn 10X rewards on online and offline shopping, including e-commerce websites, departmental stores, and supermarkets.
- For fuel consumers, the “Fuel Freebie” variant provides 10X rewards on fuel spends at petrol pumps.
- The “Cashback Craze” variant is perfect for those who prefer straight cashback over reward points, offering 5% cashback on all spends.
- YES Bank BYOC Credit Card also offers a “Lifestyle” variant that rewards customers with 10X points on entertainment, wellness, and lifestyle-related spends.
- Customers can further customize their rewards by choosing from a wide range of partner brands across various categories like travel, dining, shopping, and more.
- The rewards and cashback earned can be redeemed for a variety of options, including gift vouchers, air miles, statement credits, and even charity donations.
YES Bank regularly introduces limited-time offers and promotions, allowing customers to maximize their rewards and cashback earnings.
How to Redeem Earned Rewards and Cashback Points on Yes Bank BYOC Card?
To redeem your hard-earned rewards and cashback points on the YES Bank BYOC Credit Card, log in to the YES Bank online banking portal or mobile app.
- Navigate to the “Rewards” section, where you’ll find a comprehensive overview of your accumulated points and the various redemption options available.
- One of the most popular choices is to redeem your points for exciting shopping vouchers from leading brands and retailers. Browse through the extensive catalog and select the vouchers that catch your fancy.
- If you’re a frequent flyer, consider redeeming your points for airline miles or travel vouchers. This way, you can fuel your wanderlust without burning a hole in your pocket.
- For those who prefer tangible rewards, you can opt to redeem your points for merchandise such as electronics, home appliances, or even gift cards from popular stores.
- If you’re feeling charitable, YES Bank also provides the option to donate your points to various social causes and non-profit organizations, making your rewards count towards a greater good.
- Alternatively, you can choose to redeem your points for statement credit, essentially reducing your outstanding credit card balance or future transactions.
- Keep an eye out for special promotions and limited-time offers, where YES Bank may offer bonus points or discounted redemption rates for specific rewards.
- Before redeeming, ensure you thoroughly understand the points-to-reward conversion rates and any associated fees or terms and conditions.
Should you require assistance or have any queries regarding the redemption process, don’t hesitate to reach out to YES Bank’s dedicated customer support team.
Eligibility for Applying Yes Bank BYOC Card
- You must be an Indian resident with a valid permanent address proof.
- Your age should be between 21 and 65 years at the time of application.
- You need to have a steady source of income, either through employment or self-employment.
- For salaried individuals, your minimum net monthly income should be at least ₹25,000.
- For self-employed individuals, your minimum annual income should be at least ₹3 lakhs.
- Your credit score should be above 725 to increase the chances of approval.
- If you have any existing credit card dues or loans, they should be paid on time without any defaults.
- You need to provide all the necessary documents, such as identity proof, address proof, income proof, and any other documents required by the bank.
Documents Required for Yes Bank BYOC Card
- A duly filled and signed YES Bank BYOC Credit Card application form.
- Passport-size photographs (2 copies).
- Proof of Identity (PAN card, Aadhaar card, Voter ID, Passport, Driving License).
- Proof of Residence (Utility bills, Rent agreement, Ration card, Passport).
- Proof of Income (Salary slips for the last 3 months, Form 16, IT returns, Bank statements for the last 6 months).
- Employment details (Appointment letter, Salary certificate, Business registration proof if self-employed).
- Any other document(s) specifically requested by the bank.
Points to remember:
- Ensure all documents are self-attested and valid.
- For salaried individuals, provide the latest salary slip and Form 16.
- For self-employed individuals, provide income tax returns for the last 2 years, along with business registration proof.
- If you’re a student, provide a bonafide certificate from your educational institution.
- If you’re a homemaker, provide your spouse’s income proof and a letter stating your relationship.
- Keep the original documents handy for verification, if required.
How to apply for Yes Bank BYOC Card?
- Visit the official website of YES Bank or their online banking portal.
- Locate the section for credit card applications or the ‘BYOC’ (Build Your Own Credit) program.
- Click on the ‘Apply Now’ or ‘Apply for BYOC’ button to initiate the application process.
- You will be prompted to enter your personal details, such as name, date of birth, contact information, and employment details.
- Provide your existing credit card details, including the card number, issuing bank, and the outstanding balance.
- Upload the necessary documents as per the bank’s requirements. This may include:
- Identity proof (Aadhaar card, PAN card, or passport)
- Address proof (utility bills, rent agreement, or bank statements)
- Income proof (salary slips, Form 16, or bank statements)
- Carefully review the information you have provided and confirm its accuracy.
- Read and agree to the terms and conditions of the BYOC program.
- Submit the application form online.
- Once submitted, YES Bank will verify your details and existing credit card information.
- If approved, your existing credit card will be transferred to YES Bank, and you will receive a new YES Bank credit card with the same credit limit and outstanding balance.
- Activate the new YES Bank credit card by following the instructions provided by the bank.
- Start using your new YES Bank credit card and enjoy the benefits and rewards offered by the bank.
Yes Bank BYOC Credit Card Limit
The BYOC (Build Your Own Credit) card from YES Bank gives you the flexibility to choose your own credit limit based on your requirements and repayment capacity.
- Unlike most credit cards with pre-determined limits, the BYOC card allows you to set your credit limit anywhere between Rs. 25,000 to Rs. 5,00,000.
- This unique feature empowers you to tailor the credit limit to suit your spending patterns, avoiding the risk of overspending or underutilization.
- To determine your credit limit, YES Bank considers factors like your income, existing loans/credit card obligations, residential status, credit score, etc.
- The bank may approve a lower limit than requested if they assess your chosen limit as being too high based on their risk parameters.
- You can conveniently track your current credit limit and available balance on the YES Bank mobile app or internet banking portal.
- If your financial situation improves over time, you can request an increase in your BYOC credit card limit by submitting the required documents to YES Bank.
Overall, the flexible credit limit makes the BYOC card a smart choice for those seeking more control over their credit exposure and spending limits.