“Duet is a lifetime free credit card from RBL Bank, with easy to understand direct cashback benefits," Paisabazaar said in its statement.
All online and offline purchases done through the card will earn the cardholder a flat 1% cashback. There is no upper limit on the cashback earned but no cashback is offered on wallet loading, EMI transactions, fuel purchase and rent payment done through the card. The card carries no joining fee or annual fee.
“It (Duet) will be part of Paisabazaar’s neo-lending product suite. Duet will replace Paisa On Demand (PoD) credit card on Paisabazaar," the company said, adding that it is exclusively available on the Paisabazaar platform and has an end-to-end digital process.
A line-of-credit above ₹3,000 and up to the cardholder’s credit limit will be available. Users can avail the loan by logging in to their account on Paisabazaar, visit the dashboard, under the Credit Line option, enter the amount they wish to borrow, select the bank account and complete the transaction by authorising it with an OTP received on registered mobile number.
“We are excited to expand our credit offerings through this partnership with Paisabazaar. It will enable us to offer an enhanced Credit Card experience to customers combined with a flexible lending product and several value-added propositions," said Utkarsh Saxena, Head Products – Credit Cards, RBL Bank.
Gaurav Aggarwal, senior director, Paisabazaar, said, “At Paisabazaar, we have a clear focus on innovation, through product, process and partnership, to meet existing need gaps of large consumer segments. Duet with RBL Bank is another step in our journey, as we continue to strengthen our neo-lending strategy, aimed to add genuine value to our consumers and the lending ecosystem."
