Syndicate Bank Classic Credit Card Review

Syndicate Bank, one of the oldest banks in India provides a single credit card to its customers, this card comes in two variants, and Syndicate Bank Classic Credit Card is one of them. This card is a basic credit card with a low-interest rate and it comes at a very low cost. this card offers benefits like reward benefit, lost card liability, Cash advance facility, add-on facility, and lots more. Further details of the card are given below. 

Eligibility Criteria:

  • Resident Type: Indian. 
  • For salaried person:
    • Age: 21 to 60 yrs. 
    • Income: ₹60,000 annually. 
  • For self-employed person:
    • Age: 21 to 65 yrs. & up to 75 years for senior citizens. 
    • Income: ₹ 1 lakh annually. & ₹60,000 for senior citizen. 
  • Good relation with the bank. 
  • Good CIBIL score (750 or more). 

Required Documents:

  • Photocopy of ID Proof (any 1)
    • Aadhar card
    • Voter Card
    • Passport
    • PAN Card
  • Photocopy of Address proof (any 1) 
    • Last 6 months bank account Statement
    • Aadhar Card 
    • Driving License 
    • Passport
    • Utility bill
  • One recent passport-sized photographs
  • Proof of income statement:
    • Salaried Person (any 1)
      • Latest salary slip, (3 months) 
      • ITR
    • Self-employed person
      • Latest Income tax return.  
      • Proof of business.
      • Recent audited financial report. 

Fee:

  • Joining Fee: None.
  • Annual Fee: None. 

Benefits:

  • Reward Benefit:

With this card you will get 1 reward point for each ₹200 transactions made with this card, you can later redeem your reward points in cash. 1 reward point = 50 paise. 

  • NO Annual fee card:

This card charges no joining and an annual fee, so you can enjoy the benefits of the card for free. 

  • Lost card liability:

If your card is lost or stolen, you just have to report the loss as soon as possible to the bank. if you can report before any fraud transaction happens, you may enjoy zero liability against your lost card. After reporting your loss your liability will be limited to ₹1000. 

  • Cash advance facility:

With your Syndicate Bank Classic Credit card, you can withdraw cash up to 15% of your credit limit. Also if you withdraw cash from Syndicate Bank ATMs you will be charged at a subsidized rate. 

  • Low-Interest rate card:

This card charges a low-interest rate of 2% monthly, which is very helpful for beginners.  

  • Add on card:

You can share the benefits of your Syndicate bank credit card with your loved ones, just add them with your card as add-on members and they can enjoy the benefits of a credit card. 

  • Global Acceptance:

This card is accepted worldwide, you can use this card anywhere where Visa credit cards are accepted. 

  • EMV Chip card:

This card comes with a built-in EMV chip, this chip is specially designed to add more convenience and security to your transactions.  

Charges:

  • Cash Withdrawal Charge: You will have to pay the charge at a subsidized rate. 
  • Finance Charge: 2% monthly & 24% annually. 

Contact Details:

Call: 1800 225 092 

        022-4042-6003

Mail: [email protected]

Dispute Resolution Process:

If you notice some suspicious charges in your card statement, or there are some unauthorized charges in your account, you should follow these steps:

  1. If your card is lost or if you notice some fraud transactions, call customer service immediately and ask them to block your card. And then follow their transaction. 
  2. If you are not satisfied with the customer service you can take your complaint to the nodal officer. Call: 080-22260281 or Mail: [email protected] 
  3. If you are still not satisfied, you can contact the Banking Ombudsman. You can find the contact details of your banking ombudsman from The Reserve Bank of India’s official website.  

But before going to the Banking Ombudsman, try to negotiate your problem with the bank, and only when there is no other option available you should go to the Banking Ombudsman.

100XGain Ratings:

3.5/10

Final Opinion:

This card is best for beginners. It is a very hustle-free, convenient, budget-friendly credit card which comes with a very low-interest rate. It offers 1 reward point for each ₹200 transactions, cash advance facility, lost card liability, and lots more. But if you are looking for extraordinary Cash-Back or big benefits on shopping or movies, this card is not what you need. 

So if you are looking for Cash-Back then you can go for HSBC Cash-Back Credit Card, and if you are looking for benefits on shopping and Movies then you can go for Bajaj Finserv Shop Smart SuperCard, and for movies, you can go for RBL Bank Popcorn Credit Card.

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