HDFC Bank has recently launched HDFC Bank Millennia Debit Card. This card has been created keeping in mind the needs of millennials.
Ask any millennial what do they want? It is highly likely that they will say travelling the world, teaching underprivileged kids on weekends. Buying a house, or a car that was the top priorities until a generation ago are likely to be the last things on their minds.
Hence, the spending pattern of millennials is also different. But who are millennials? They are the individuals whose birth years range between 1980 to the early 2000s. Typically, the individuals between the birth years 1981 to 1996 are commonly termed as millennials.
To cater to millennials, HDFC Bank has come out with a chain of cards: prepaid card, debit card, credit card and EMI card.
In this article, let’s deep dive into HDFC Bank Millennia Debit Card.
With HDFC Bank Millennia Debit Card, you don’t have to worry about taking cash everywhere you go. It is best for millennials who believe in spending what they have and going on even on a tight budget. It comes with various benefits.
The debit card comes with higher daily domestic ATM withdrawal limits of Rs. 50,000, daily domestic shopping limits of Rs.3.5 lakhs and daily international shopping limits of Rs. 1 lakhs
The card comes with contactless payment facility. This means that you don’t have to dip or swipe the card making it safe and secure.
Millennials love travelling and not just travelling within the borders of the country. Hence, the debit card is activated for international and domestic usage. You can deactivate the international usage on your Chip Debit Card by logging to your netbanking, phone banking or by visiting your HDFC Bank branch.
You can be eligible for Millennia Debit Card, if you have HDFC Bank Savings Account, Current Account, SuperSaver Account, Loan Against Shares Account (LAS) Salary Account etc. If you don’t have an HDFC Bank account, you will have to create a savings account.
One of the disadvantages of the debit card is the steep annual charge. It comes with an annual fee of Rs. 500 plus taxes.
Here are the steps that you should follow if you already have HDFC Bank account holders:
The rest will be taken care of by the bank. Your card will be sent to your mailing address.
You can also apply for the HDFC Bank Millennia Debit Card through NetBanking. You don’t have to wait for the bank to mail you the debit card, you can opt for Insta Debit Card for this variant from the bank branch. Carry a valid ID proof and a cancelled cheque to get the debit card. The card is most likely to be activated within 1 working day.
If you don’t have an HDFC Bank account, you have to download the account opening form, print it, and enter your information. This form will include the EasyShop International Debit Card application. Take the filled documents to your closest HDFC Bank branch and the rest will be taken care of by the bank.
The annual fees of the card at Rs.500 is a bit steep. If you have already an HDFC Bank account, you already have attractive offers at your hand. The attractive feature of the card is the cashback if you carry out transactions of more than Rs. 2,000. If you carry out a lot of transactions, travel a lot, then the card may benefit you. Otherwise, you can give this card a miss and continue with your existing HDFC Bank debit card.
