Yes Bank Reserv Credit Card
Joining: 1,999 INR + taxes
Renewal fee: 1,999 INR + taxes
Rewards: Up to 10 Reward points on every 100 INR spend
Cashback Benefits: Upto 5% Cashback on various Categories
The Yes Bank Reserv Credit Card is a premium offering tailored for the discerning individual who seeks exclusivity and privileges. This card is designed to cater to the affluent lifestyle, providing a host of exceptional benefits and rewards. Whether you’re a frequent traveler, a connoisseur of fine dining, or simply seeking a card that elevates your everyday experiences, the Reserv Credit Card is a perfect companion.
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Features of Yes Bank Reserv Credit Card
- Exclusive Lifestyle Privileges: Enjoy a range of curated experiences and premium benefits tailored for a luxurious lifestyle.
- Complimentary Airport Lounge Access: Gain access to domestic and international airport lounges for a seamless travel experience.
- Fuel Surcharge Waiver: Save on fuel expenses with a waiver on fuel surcharge across Indian Oil Corporation (IOCL) petrol pumps.
- Accelerated Reward Points: Earn reward points at a faster rate on various spending categories, such as dining, travel, and more.
- Concierge Services: Enjoy personalized assistance with travel bookings, restaurant reservations, and other exclusive services.
- Global Emergency Assistance: Receive 24/7 emergency support and assistance while traveling abroad.
Benefits of Yes Bank Reserv Credit Card
- Exclusive Dining Privileges: Savor delightful culinary experiences with discounts and offers at premium restaurants and dining establishments.
- Luxury Hotel Benefits: Indulge in luxurious stays with complimentary room upgrades, early check-in/late check-out, and other special amenities at partner hotels.
- Golf Privileges: Enjoy preferential tee-off times, discounted green fees, and other golf-related benefits at renowned golf clubs.
- Rewarding Redemption Options: Redeem your reward points for a wide range of rewards, including merchandise, travel, and more.
- Personalized Relationship Manager: Benefit from a dedicated relationship manager who understands your unique financial needs and provides tailored solutions.
- Priority Banking Services: Experience priority service and exclusive offers on various banking products and services.
Other Yes Bank Credit Card offers in India
Eligibility for applying Yes Bank Reserv Credit Card
- Age Limit: You must be between 21 to 65 years old at the time of applying.
- Income Requirement: You should have a minimum annual income of ₹4 lakh from a verifiable source. The bank may consider other income sources as well, like rental income, apart from your salary.
- Credit History: A good credit score and a clean repayment track record are musts. Typically, a CIBIL score of 700 or above is preferred.
- Residential Status: You need to be a resident Indian. The card is not offered to NRIs or foreign nationals currently.
- Employment Status: Salaried individuals in private or public sector jobs qualify. Self-employed professionals and businesspersons with stable income can also apply.
- Documentation: You’ll need to submit KYC documents like Aadhaar, PAN card, latest salary slips, bank statements and address/identity proofs.
- No Recent Defaults: Any recent defaults, settlements or write-offs on existing credit facilities can lead to rejection.
- Existing Relationship: Existing Yes Bank customers, especially those with salary accounts, may get preference.
Documents Required for Yes Bank Reserv Credit Card
- Identity Proof: A clear photocopy of your Passport or Aadhaar Card or Voter’s ID or PAN Card. The identity document should be valid and not expired.
- Address Proof: A recent utility bill (electricity, gas, landline, or broadband) not older than 3 months, or a lease agreement, or a ration card, or a bank statement reflecting your current residential address.
- Income Proof: If you’re a salaried employee, you’ll need the latest 3 months’ salary slips and a copy of your Form 16. If you’re self-employed, you’ll require your latest Income Tax Returns (ITR) along with computation of income, profit & loss account, balance sheet, and business registration proof.
- Additional Documents: Depending on your employment status or profile, the bank may request additional documents like your employment contract, six months’ bank statements, or any other document deemed necessary.
- Photograph: A recent passport-size color photograph with a white background.
- Filled Application Form: A duly filled and signed credit card application form with all the necessary details.
It’s always advisable to have multiple copies of these documents handy, just in case the bank needs any replacements or additional verification.
Fees and Charges of Yes Bank Reserv Credit Card
Annual Membership Fee:
- Rs. 4,999 for the primary card
- Rs. 2,499 for the add-on card
Interest Rates:
- Revolving Credit: 3.49% per month (41.88% annualized)
- Cash Advance: 3.49% per month (41.88% annualized)
Cash Advance Fee:
- 2.5% of the cash advance amount (subject to a minimum of Rs. 500)
Late Payment Charges:
- Rs. 500 (in case the minimum amount due is not paid by the due date)
Over Limit Fee:
- 2.5% of the amount over the credit limit (subject to a minimum of Rs. 500)
Fuel Surcharge:
- Waived for transactions at petrol pumps
Foreign Currency Markup:
- 3.5% of the transaction amount (for international transactions)
Rewards Redemption Fee:
- Rs. 99 plus applicable taxes (for redeeming rewards)
Duplicate Statement Fee:
- Rs. 100 per statement
Cheque/ECS/ACH/SI Bounce Charges:
- Rs. 500 per instance
Rewards of Yes Bank Reserv Credit Card
- Accelerated Reward Points: Earn 10 Reward Points for every Rs. 100 spent on dining, movies, and international transactions, and 5 Reward Points for every Rs. 100 spent on other categories.
- Exclusive Golf Privileges: Enjoy complimentary green fee waivers at select premium golf courses across India, along with discounts on merchandising and food & beverage.
- Luxury Hotel Privileges: Gain access to exclusive offers and discounts at renowned luxury hotels and resorts both in India and abroad.
- Airport Lounge Access: Enjoy complimentary access to domestic and international airport lounges, providing a relaxing and comfortable travel experience.
- Fuel Surcharge Waiver: Benefit from a waiver on fuel surcharges on all domestic air tickets booked through the Yes Bank Reserve Credit Card.
Cashback of Yes Bank Reserv Credit Card
- Generous Cashback: Earn up to 5% cashback on various categories like dining, movies, groceries, and utility bill payments.
- Online Shopping Cashback: Enjoy cashback rewards on online purchases made through popular e-commerce platforms.
- Fuel Cashback: Get cashback on fuel purchases made at select petrol pumps across the country.
- Utility Bill Cashback: Earn cashback when you pay your utility bills, such as electricity, gas, and telephone, using your Yes Bank Reserve Credit Card.
- Milestone Cashback: Receive additional cashback rewards upon reaching specific spending milestones within a billing cycle.
How to Redeem Earned Rewards and Cashback?
The Yes Bank Reserve Credit Card offers a rewarding experience with its generous cashback and reward points program. Here’s how you can redeem your rewards:
Cashback Redemption: The cashback earned on your Reserve Credit Card can be redeemed directly into your linked Yes Bank Savings/Current Account. This cashback is credited annually, making it a convenient way to enjoy the fruits of your spending.
Reward Points Redemption: For every ₹100 spent on your Reserve Credit Card, you earn 2 Reward Points. These points can be redeemed for a wide range of options:
- Redeem for statement credit to offset your outstanding balance.
- Redeem for gift vouchers from popular brands like Amazon, Flipkart, and more.
- Redeem for airline tickets on select airlines, both domestic and international.
- Redeem for hotel stay vouchers at partner hotels across the globe.
- Redeem for fuel vouchers at leading fuel stations.
Redeeming Rewards: To redeem your reward points, simply log in to your Yes Bank online banking portal or mobile app. Navigate to the “Rewards” section and browse through the available redemption options. Select your desired reward, enter the required points, and confirm the redemption.
Special Offers: Keep an eye out for special promotional offers and bonus reward point campaigns. Yes Bank often runs exclusive offers, allowing you to earn accelerated rewards on specific spending categories or during festive seasons.
Expiry: Your reward points are typically valid for 2 years from the date of earning. Make sure to redeem them before they expire to maximize the benefits of your Reserve Credit Card.
How to apply for Yes Bank Reserv Credit Card?
- Visit the official website of Yes Bank or walk into any Yes Bank branch near you.
- Look for the ‘Credit Cards’ section and click on ‘Apply Now’ against the Reserve Credit Card.
- You’ll be prompted to fill in an online application form. Have your personal and financial details handy.
- Upload the required documents like identity proof, address proof, income proof, etc.
- Once the form is filled, review the entries carefully and submit the application.
- A representative from Yes Bank will get in touch with you to verify the details and guide you through the remaining process.
- You may have to visit the branch for biometric verification and document submission.
- Upon approval, your shiny new Yes Bank Reserve Credit Card will be dispatched to your communication address.
- Activate the card using the steps mentioned in the welcome kit and start enjoying a world of exclusive privileges.
Remember, having a good credit score significantly improves your chances of approval for premium credit cards like the Reserve Card.
Yes Bank Reserv Credit Card Limit
Personalized Credit Limit: Yes Bank understands that every individual’s financial requirements are unique. As a result, they offer a personalized credit limit on their Reserve Credit Card, tailored to your income, credit history, and repayment capacity. This approach ensures that you receive a credit limit that aligns with your financial profile and spending needs.
Flexible Credit Limit: While the initial credit limit is determined based on your eligibility, Yes Bank provides the opportunity to increase your credit limit over time. As you demonstrate responsible credit behavior and maintain a good repayment history, the bank may periodically review and enhance your credit limit, empowering you with greater financial flexibility.
Credit Limit Utilization: It’s essential to manage your credit limit wisely. Yes Bank recommends maintaining a credit utilization ratio (the ratio of outstanding balance to the total credit limit) below 30%. A lower credit utilization ratio not only helps you avoid accumulating excessive debt but also positively impacts your credit score.
Credit Limit Enhancements: If you find that your current credit limit is insufficient for your evolving needs, Yes Bank allows you to request a credit limit enhancement. However, this process may involve additional documentation and verification to ensure that the increased limit aligns with your financial capacity.
Automated Credit Limit Increases: In some cases, Yes Bank may proactively increase your credit limit based on your responsible credit behavior and timely repayments. This automated process aims to provide you with greater financial flexibility without the need for a manual request.
Credit Limit Transparency: Yes Bank ensures transparency by clearly communicating your credit limit and its utilization through regular statements and online banking platforms. This information empowers you to make informed financial decisions and manage your credit effectively.
Bonus Key Points for Customers
- Enjoy up to four green fee waivers annually and receive one complimentary golf lesson per year at chosen golf courses across India.
- Receive a 1% fuel surcharge waiver on transactions ranging from Rs 400 to Rs 5000.
- Enjoy three complimentary lounge visits per quarter within India.
- Mastercard and Visa cardholders gain access to international airport lounges.
- Avail a minimum 15% discount on dining at designated restaurants using your YES Bank Credit Card.
- The initial membership fee of INR 1,999 plus applicable taxes will be waived if total retail spends amount to INR 40,000 within 30 days from the card setup date.
- The renewal membership fee of INR 1,999 plus applicable taxes will be waived if total retail spends amount to INR 3,00,000 or more within the 12 months preceding the card renewal date.
- A charge of at least 1% of the transaction value or Rs 1, whichever is higher, will be applied to all rental and wallet transactions exceeding Rs 1. Please be aware that rental transactions are limited to 3 per 30-day period.