RuPay Card is the latest payment scheme that is equivalent to a Visa/Master card. As per the RBI’s instructions all state owned banks can issue RuPay debit cards. The basic idea was to have a combined payment system and have an Indian Debit/Credit card.
Up till recently there was no domestic card in the market and hence all banks had to depend on Visa or Master Card services for the purpose of carrying out transactions. Every credit/debit card of these International companies charges a fee that have to be paid by the Indian banks. RuPay is a solution to ensure that all transactions happen within India and help save a lot foreign exchange. So keeping this in mind RuPay card was launched by the National Payments Corporation of India (NPCI) on 26 March 2012.It has a tie up with Discover Financial Services firm and as such it has been accepted as a payment method even outside India.
How To Get SBI RuPay Card & How to use it
RuPay is certified by 25 Indian Banks and functions with all ATM’s in India that work under National Financial Switch. It has a microprocessor circuit embedded in it and stores all the information of the card holder. All the transactions are carried on pin number basis and for high end dealings it uses a higher technology chip called named EMV (Europay, MasterCard and Visa). You can access this card form around 1.45 lakh ATMs and 8.75 lakh POS terminals in India. Apart from this there are around 10000 websites that allow you shop using the RuPay Card.
Who are eligible to apply
RuPay card can be accessed by anyone who has either a savings or a current account with the SBI. If you already have a debit card then you can exchange it for a RuPay card. New customers can also apply for a new RuPay card.
Since it is a debit card you can withdraw cash or use it for cashless purchases. Maximum limit for withdrawal is 10000 per day and the maximum amount that can be funded is only 50000.Again You can only carry out 4 transactions per month.
Documents needed for RuPay Card
For RuPay card you can produce either an identity proof or address proof and the self-attested copy need to be handed over.
- Identity Proof
- Passport, Voter ID, PAN card, Driving License, Photo ID issued by Post Office or Photo ID issued by universities or institutes approved by AICTE, UGC.
- Address Proof
- Credit Card Statement, Salary Slip, Income Tax statement, Electricity Bill, Water Bill, Ration Card
- 2 Passport Size photograph
Procedure for opening account
- For opening the account you need to collect the application form from the nearest SBI branch (or other banks that support it). Specify clearly to the bank teller that you need to the avail the RuPay card facility and fill in this form with all your personal detail
- For RuPay card the process is simplified and you need to submit either your identity proof or address proof whichever is available.
- Hand over the money to be deposited into the account and you will be provided with a passbook. The RuPay card will be sent by mail to your address within 10-20 days.
Advantages of using RuPay Card
Transaction cost of RuPay card is lesser as compared to Visa or MasterCard. For the latter the banks will have to bear the fees to the International companies which is not needed in RuPay as all transactions happen within India.
It’s easily accessible to all. Even people from rural areas can avail this services.
As all processing happens within India there is no clearance cost incurred.
It functions on the PIN authorization hence ensuring security for the users.
By launching RuPay card India will be less dependent on International debit/credit cards.
The card users can also get SMS alerts that helps you know the balance as well as the cash withdrawn from account.
Rupay Card Benefits
Most banks offer RuPay cards in India today and they offer their own custom offers with it. For example, HDFC bank offers the following benefits on it’s premium Rupay card.
- Daily withdrawal Limit: Rs 25,000
- 5% CashBack on Utility Bill payments
- Zero fuel surcharge
If you are looking at improving your credit score, get a good credit card instead of Rupay Card.
41 thoughts on “Rupay Card – How To Get It?”
The last line of this article is equally interesting!!!
Well I already have fairly good score… 🙂
I am a bangladeshi, can i apply for a rupay card?
தற்ப்போது உள்ள Rupay கார்டை இ எம் ஐ கார்டாக மாற்ற முடியுமா
All Indians should adopt the Rupay card in the best interest of the nation & help the country to save foreign exchange.
How to generate new pin SBI rupay debit card
Thanks for the update Sachin.
Great to know Ranju! Glad you finally got it. Thanks for letting know. Others who have similar trouble can contact them via Twitter too.
Thank you as per your instructions i contacted PNB via twitter and email they finally contacted branch and branch in my village who is holding my card without sending it have dispatched it and i recieved it today after after 39 days i recieved my rupay card thank you very much
GoI is vigorously promoting cashless transactions, on the other hand SBI is reluctant to issue RuPay debit card to regular SB a/c holders; so much so that the link to RuPay is not working on its website. Have you discontinued Rupay card and brought in some better one instead..???
Guide me how to get it
Initial cost of procurement
Recurring/ Annual charges
Transaction charges as on date
Can I not apply it online through netbanking portal of SBI
In how many days I shall be issued a card
Dear Mani Sir
Here is truth. As on date 10th Jan 2017, even sbi is unable to provide rupay debit card. I inquired in Bank. They say it is for PMJDY only. Even, the online sbi portal takes request for re-issue of card under VISA and MASTER card category.
Might be a delay. Did you check with the bank on the status?
what are the limitation on transaction using rupay card?
May i withdraw using rupay card as withdraw using visa or master card?
What is the max withdraw limit per a day?
this information is wrong,i waited more than 20 days after depositing money and recieving passbook but dont recieved rupay card via mail
You might have to get a Jan Dhan account.
SBI only allows VISA and MasterCard requests through their NetBanking portal. They should add RuPay to that portal.
Thanks for info. Excellent blog.
Sure, why not?
Credit and Debit cards are totally different. I’ve written an in-depth article on the difference here – https://manikarthik.com/blog/credit-card-or-debit-card/money/ Please check it out.
Sahil, Did you get a Jan Dhan account?
My SBI branch has denied me Rupay card saying it is only for jan dhan accounts. What should i do now??
Its very useful information.
But It is not clear wheather one can exchange or have the Card portability facility from Visa/Mater/Mastreo debit-card(SB a/c with SBI) with Rupay Debit- Card or to go for new Rupay Card only.
Debit Card and Credit card are different.
While Rupay is indian company which give you transaction facilities just like Mastercard or Visa.
All these companies can have either Credit Cards or Debit/ATM cards.
What difference between rupay card & debit card
Nice information. Thank you
Is illterates eligible for taking Rupay Card?
You will have to visit an SBI branch nearby Lakshmi.
Procedure is mentioned above. Please read and let me know if you have any doubts.
Thanks Milind. Glad to have you here. 🙂
Mani hi, appreciate your inititatives to educate whole of the world and spread knowledge . You believe in Giving knowledge whatever you have. It’s most acknowledged act. I wish you a great success in ALL your future endeavours. Keep it up. Regards, Milind Sawant
How to apply for a SBI Rupay card ?
If I have an account in any other public sector bank other than SBI, can I still apply for Ru-Pay card?
I do not want to exchange my debit card for an RUPAy… but want the rupay in addition to my existing debit card.
Is there anyway to get the RUPAY card online. I already have my account and debit card in SBI. When I asked in the branch, I was told that they are focussing only on VISA and MASTER cards since many are not using RUPAY cards.
i have already a sbi debit card then how can i got the rupay card
you can replace your current card or apply for new card also with holding your old card. 🙂
If I replace my existing debit card with this card, I would lose the withdrawal limit of 40000 INR per day, right? as you said, rupay card has only 10000 INR per day.
How much is the difference is the transactional Charges between Visa cards and Rupay cards for lets say transaction of 1000 rupees ? I have a visa card. I pay all my bills online.
It is a combined system of both Debit and Credit card.
Is it a credit card or only a debit card?