Different types of debit cards in India you need to know about

There was a time when people had to stand in queues at bank counters to withdraw money for use. Today, given social distancing requirements and the availability of alternatives like Debit Cards, a trip to the bank to get some cash is entirely optional. 

Debit cards are enormously convenient because you don't need to carry large amounts of cash all the time. Let's understand the various types of cards available on the market, but before that, make yourself aware of the benefits these cards offer.

A Debit Card comes with almost all the features of a Credit Card, except it doesn't allow you credit. Here are some benefits of using them. 

• You can use Debit Cards for all your financial transactions. For example, you can use these cards to shop online and at different merchant locations.  

• These cards are meant for easy cash withdrawals from ATMs.  

• The latest contactless Debit Cards are extremely easy to use and provide extra protection from skimming devices used by miscreants. Moreover, they undergo less wear and tear with regular use than regular cards. 

• They help you avoid excessive spending as they are directly linked to your bank account. It is advisable to register for email and SMS alerts so you can keep track of your transactions.

There are six different types of Debit Cards available in India. Let’s take a look at them. 

Visa Debit Card 

One of India's most popular debit cards, Visa offers the Verified by Visa platform for enhanced security during online transactions. 

Visa Electron Debit Card 

Visa Electron Debit Cards are similar to Visa Debit Cards and can be used for transactions, the only difference being that they do not offer an overdraft facility. 

Mastercard Debit Card

Accepted at millions of merchant locations worldwide, Mastercard is among the most popular cards along with Visa. Their Debit Cards are rich in features and offer excellent benefits. However, the RBI has currently restricted Mastercard from issuing new Debit and Credit Cards due to non-compliance with data privacy norms. So, new Debit Cards from Mastercard are no longer available, although existing cardholders continue using their cards as before. 

Maestro Debit Card 

Owned by Mastercard, Maestro is a popular debit card used worldwide. Maestro keeps your money safe at all times with its state-of-the-art technology. 

RuPay Debit Card 

Launched by the National Payments Corporation of India (NPCI), RuPay is a first-of-its-kind domestic payment network. The card is more flexible than its competitors. 

Contactless Debit Card 

This card uses Near Field Technology (NFC), which helps you transact more safely and securely. To make a payment, you only need to tap or wave your card at a merchant's payment terminal. 

HDFC Bank has partnered with these companies and offers a wide range of debit cards to suit diverse consumer needs: 

• Times Points Debit Card: This Mastercard Debit Card earns maximum Times reward points whenever you shop. Times Points is a digital loyalty program offering Times Points as currency. The minimum discount is 10%, and there is a welcome benefit of 500 Times points when you shop for the first time. It also provides personal accidental death cover. 

• ​​​​​​​HDFC Bank Rewards Debit Card: You can earn up to 2000 reward points every month across five categories with this Visa Debit Card. It also provides personal accidental death insurance coverage. Get rewarded every day with the Rewards Debit Card. 

• RuPay Premium Debit Card: The RuPay card is everything you want in a debit card. It can be used at ATMs and for shopping in India and abroad. You get 5% cashback when you use it to pay your utility bills. It also provides personal accidental death/permanent disability cover. 

• EasyShop Debit Card: With Mastercard, Visa, and RuPay, HDFC Bank offers its customers feature-rich tiers under the EasyShop Debit Card. The tiers offered under Visa are – Classic, Gold, Platinum, Classic Platinum, and Imperia Platinum Chip; it also includes cards for NRO accounts and women. Mastercard tiers include Titanium, Titanium Royale, and Preferred Platinum; they also include business cards. RuPay offers an NRO Debit Card. 

• Get up to 5% CashBack on your shopping spends and increased ATM withdrawal limits depending on the tier of card you hold.  

• Most of these cards offer security if your Debit Card gets misplaced or stolen. The cards also provide personal accidental death insurance coverage. 

• The Business Debit Card helps secure your business with fire and baggage insurance coverage.  

• The Woman’s Advantage Debit Card offers 10.5% CashBack to meet all your shopping and lifestyle needs. The NRO Debit Card is designed, especially for NRIs to use in India. 

Go ahead, select an HDFC Bank debit card that’s best suited for all your needs and enjoy unparalleled financial freedom! With our 24X7 Cardless Cash service, you can get instant cash at HDFC ATMs even without a physical card - uninterrupted shopping guaranteed! 

Looking to apply for the HDFC Bank Debit Card? Click here. 

When should you be opting for using a Debit Card over cash payments? Find out here! 

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.