As a small business owner, managing finances efficiently is crucial for growth and success. A small business credit card can be valuable in this endeavor, offering convenience, rewards, and financial flexibility. Here are the top 5 small business credit cards in India, along with their features and benefits.
1. ICICI Bank Business Advantage Black Credit Card
– Joining fee: ₹2,500
– Annual fee: ₹2,500
– Interest rate: 3.4% per month
– Rewards: 1% cashback on all transactions, 2% cashback on international transactions
– Features: Travel insurance, concierge services, fuel surcharge waiver
2. HDFC Business MoneyBack Credit Card
– Joining fee: ₹500
– Annual fee: ₹500
– Interest rate: 3.6% per month
– Rewards: 1% cashback on all transactions, 5% cashback on online transactions
– Features: Fuel surcharge waiver, railway surcharge waiver, rewards redemption
3. Axis Bank My Business Credit Card
– Joining fee: ₹1,500
– Annual fee: ₹1,500
– Interest rate: 3.4% per month
– Rewards: 1% cashback on all transactions, 2% cashback on online transactions
– Features: Travel insurance, concierge services, fuel surcharge waiver
4. American Express American Express Business Card
– Joining fee: ₹5,000
– Annual fee: ₹5,000
– Interest rate: 3.6% per month
– Rewards: 1% cashback on all transactions, 2% cashback on international transactions
– Features: Travel insurance, concierge services, airport lounge access
5. SBI Business Card
– Joining fee: ₹1,000
– Annual fee: ₹1,000
– Interest rate: 3.4% per month
– Rewards: 1% cashback on all transactions, 2% cashback on online transactions
– Features: Fuel surcharge waiver, railway surcharge waiver, rewards redemption
Key Features to Consider
1. Interest rate
2. Rewards program
3. Annual fee
4. Joining fee
5. Travel insurance
6. Concierge services
7. Fuel surcharge waiver
8. Railway surcharge waiver
9. Airport lounge access
10. Rewards redemption
Eligibility Criteria
1. Age: 21-65 years
2. Business vintage: 2-3 years
3. Annual turnover: ₹15 lakhs-₹50 lakhs
4. Credit score: 700-850
Documents Required
1. Business registration documents
2. PAN card
3. Aadhaar card
4. Passport
5. Bank statements
6. Income tax returns
How to Apply
1. Visit the bank’s website
2. Fill out the application form
3. Upload the required documents
4. Pay joining fee
5. Wait for approval
Conclusion
Choosing the right small business credit card can be a daunting task. Consider your business needs, rewards programs, and fees before deciding. The top 5 small business credit cards listed above offer a range of benefits and features to help you manage your finances efficiently.
