Axis Bank launches ‘Axis Bank Rupi Business Credit Card’ for MSMEs

Axis Bank Ltd in partnership with Rupifi and Visa launched ‘Axis Bank Rupifi Business Credit Card’ for MSMEs(Micro, Small and Medium Enterprises). This Contactless Co-Branded credit card, powered by Visa is applicable only to the MSMEs businesses that transact on the aggregator platforms partnered with Rupifi PAN (Permanent Account Number) India for their business purchases. The card offers credit solutions to such MSMEs. It is only for domestic transactions.

About Axis Bank Rupifi Business Credit Card:

Average Credit Limit

  • The average credit limit offered by the card will be between the range of Rs 1 Lakh and Rs 2 lakh per month.
  • This will be decided on the basis of the business data of the transaction of the MSME with the aggregator platforms, GMV (Gross Monthly Volume) of the last 6 months and overall revenue among other factors.

Joining and Annual Fees

  • The joining fee is Rs 1000 and the annual fee is not required for this card.

Revolve feature & Interest-free Credit Period

  • The card comes with a 51 days interest-free credit period.
  • The revolving feature of the card provides the customers with an option to pay the full balance at the end of each billing cycle or to carry over the balance from one month to the next by paying a minimum amount.

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Important takeaways for all competitive exams:

  • Axis Bank is 3rd largest private sector bank in India
  • Axis Bank Headquarters: Mumbai, Maharashtra
  • Axis Bank MD and CEO: Amitabh Chaudhry
  • Axis Bank Tagline:  Badhti Ka naam Zindagi
  • Rupifi Co-Founder and CEO: Anubhav Jain
  • Rupifi Headquarters: Bengaluru(Bangalore), Karnataka
  • Rupifi Founded: 2019.

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