The BS (Hidden Catches)
What the influencers and banks hide in the fine print:
- The ₹1000 joining fee is only waived if you spend ₹1 Lakh in a year. If you spend ₹99,000, you pay the fee + ₹180 GST.
- Rent payments, wallet loads, and EMI transactions do NOT earn any cashback.
The Math (Net Return)
If you max out the 5% category (₹20,000 spend/month), you earn ₹1000/month = ₹12,000/year. Minus the ₹1180 fee (if waiver missed), your net profit is ₹10,820.
Who Should Apply?
Minimum Income ₹35,000/month. Best for heavy e-commerce shoppers.