IDFC FIRST Bank launches FD-backed Business Multiplier Metal Credit Card
IDFC FIRST Bank just rolled out the Business Multiplier Metal Credit Card, specially made for business owners and founders.
This card is backed by a fixed deposit (FD), so your credit limit matches your deposit, making it easier to keep business and personal expenses separate.
The bank says this should help you manage cash flow, track spending, and build a stronger business credit profile.
Requires ₹50,000 FD and ₹1,000 fees
To get started, you'll need an FD of at least ₹50,000. The card comes with a ₹1,000 joining fee and a ₹1,000 annual fee, but the annual fee is waived if you spend ₹5 lakh in a year.
Perks include zero forex markup on international payments and rewards on everyday business spends.
As Shirish Bhandari from IDFC FIRST Bank puts it, "Many growth-stage businesses still rely on debit or retail cards for operational spending. Our Metal Credit Card gives them a purpose-built alternative - flexible access to working capital, zero forex markup for global payments, and rewards on everyday business spends."