New credit card for Zepto, Blinkit shoppers offers up to Rs 1,000 cashback monthly
Federal Bank and Paisabazaar have launched a RuPay credit card giving cashback on quick-commerce grocery orders and other spends.
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Shoppers who regularly order groceries online through apps like Blinkit, Zepto or other quick-commerce platforms can now save money with a new credit card. Federal Bank and Paisabazaar have jointly launched the Paisabazaar Paisaback Credit Card, which runs on the RuPay network. Its benefits are not limited to online grocery orders alone; it also offers cashback on other kinds of shopping.
The card's biggest benefit is on everyday grocery purchases. Online or offline purchases made with the card at select platforms and stores earn cashback of up to 7.5%. The eligible platforms are Blinkit, Zepto, Swiggy Instamart, BigBasket, DMart, Reliance Fresh, Star Bazaar and Nature's Basket. However, the maximum cashback on these grocery purchases is capped at Rs 1,000 a month. That means even though the cashback rate is 7.5%, cardholders cannot earn more than this amount each month.
Besides groceries, the card offers several other benefits. Eligible POS and e-commerce transactions earn 1% cashback. Select eligible UPI transactions above Rs 2,000 earn 0.5% cashback, though categories such as groceries, fuel and travel are excluded from UPI cashback. A fuel surcharge waiver of up to Rs 100 per billing cycle is also available. All the cashback is credited to the customer's account as cash points.
On the cost of the card, both the joining fee and the annual fee for the Paisabazaar Paisaback Credit Card are set at Rs 500 each. However, the annual fee can be waived if the cardholder spends at least Rs 1.5 lakh or more in a year. Prospective cardholders should therefore check whether their annual spending is likely to reach this threshold, and which transactions count towards it.
For example, a cardholder who spends around Rs 10,000 a month on eligible groceries would earn about Rs 750 in cashback at the 7.5% rate. A cardholder spending Rs 13,333 on eligible purchases would hit the Rs 1,000 monthly cashback cap, meaning cashback would not increase further even with higher spending.
