IDBI Magic Card – Debit Cum Credit Card Launched

idbi logoIDBI Bank has launched a unique offering, IDBI Magic Card. It encompasses the features of a Debit Card with a credit limit, that charges much less than a regular credit card. 

The card will be offered to eligible salary account holders of IDBI Bank and the credit limit would be a multiple of the monthly salary earned by the card holder. There is no processing fee for the card, neither any charges for cash withdrawal, with a daily limit of  Rs.50,000  from any bank ATM or purchase transaction. There would also be loyalty points for amount spent for purchases and insurance cover for lost/stolen/counterfeit cards etc. The card is expected to be a game changer in the market of cards.

[advt]IDBI Magic Card is the first ever debit card with a credit limit that changes you much less than a regular credit card. It supports your salary account. Allows you to spend your salary and then some more. A card that believes in stretching its limit so that your salaries never end.

Announcing the launch of IDBI Magic Card, Shri. R.M. Malla, Chairman and Managing Director, IDBI Bank said,

“With the phenomenal rise in country’s young population and increased demand for banking services, Innovation and customer satisfaction have become key parameters to succeed in the Indian banking sector. IDBI Bank Magic Card facility will boost the usage of plastic money in the country. Also, this form of combination will lead to massive reduction in hassles faced by people in managing their transactions through multiple cards.



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