IDFC FIRST Bank Launches all new FIRST EA₹N RuPay Credit Card

Enables Credit on UPI through Fixed Deposit-backed, virtual credit card offering 1% cashback on UPI transactions, and democratizes access to credit.

20^th January, 2025, Bengaluru: IDFC FIRST Bank, in partnership with RuPay, a global card payment network from India, proudly announces the launch of UPI enabled RuPay Credit Card called – FIRST EA₹N. This credit card is backed by Fixed Deposit and hence everyone is eligible to instantly avail this unique credit card online. It also offers cashback on UPI payments, thus making the product rewarding for users.

What sets it apart is that the Fixed Deposit creation is seamlessly integrated within the credit card application for all customers. Thus customers get an unmatched opportunity to avail credit on UPI, earn rewards, and simultaneously earn attractive interest rates on Fixed Deposits.

In addition to its inclusive approach, the card’s seamless integration with UPI opens a world of possibilities, offering universal access to over 60 million UPI-enabled merchants across India. With every UPI spend, customers earn upto 1% cashback, making every transaction rewarding.

“We are thrilled to announce the launch of the FIRST EA₹N RuPay Credit Card, specifically designed for first time Credit Card users as a gateway product to the financial services world said Mr. Shirish Bhandari, Head- Credit Cards, FASTag and Loyalty, at IDFC FIRST Bank”.

He further added, “this fixed deposit backed credit card is available online and instantly, makes every day UPI payments super rewarding with a simple 1% cashback credited automatically to the card account. It inherently offers efficient money savings and growth with the linked interest-earning Fixed deposit- building credit, investment, and financial health together. It continues our philosophy of customer centricity in product conception and design – #getmorefromyourbank.”

Speaking on the development, Mr. Rajeeth Pillai, Chief of Relationship Management, NPCI said, “We are happy to launch FIRST EA₹N RuPay Credit Card in partnership with IDFC FIRST Bank. This UPI-enabled virtual credit card is designed to make transactions both convenient and highly rewarding for cardholders. Through this offering, we are further enhancing credit accessibility while delivering greater value to users.”

Features and Benefits:

• Seamless UPI Integration: The FIRST EA₹N Credit Card is ready for UPI transactions at more than 60 million UPI QR codes.
• Instant Card Issuance: Virtual credit card issued instantly with seamless UPI integration for immediate use.
• Maximum availability: This secured credit card requires a fixed deposit and is available to everyone.
• Cash Back Launch offer: New cardholders on joining get 100% cashback on their first UPI transaction amount upto Rs. 500, within 15 days of card creation. Effectively the first year Fees is paid back as cash back.
• Cashback Rewards:

o   1% cashback on UPI transactions via the IDFC FIRST Bank app.

o   0.5% cashback on transactions made through other UPI apps, as well as on insurance, utility bills, and e-commerce purchases.

• Movie offer: 25% discount up to ₹100 on District by Zomato movie tickets.
• Interest on Fixed Deposit: Earn 7.25% p.a. interest on 1 year 1 day FD.
• Comprehensive Protection:

o   Complimentary roadside assistance worth ₹1,399.

o   Lost card liability cover of ₹25,000.

o   Personal accident cover of ₹2,00,000.

IDFC FIRST Bank customers can apply for the FIRST EA₹N Credit Card through a seamless digital process available on the bank’s website. This continues IDFC FIRST Bank’s commitment to providing unparalleled convenience and innovative products that meet the evolving needs of its customers.