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Syndicate Bank Credit Card Reward Points

Credit cards offer you much more than credit from your bank. You can invest your hard earned money and earn interest on it while you continue to go about your business and have a great time paying for everything using your credit card. Syndicate bank brings you their credit card reward program that puts extra shopping power in your hands. As you go about shopping, you earn reward points each time you swipe your credit card. Once you have accumulated a substantial number of points, you can exchange them for further credit on your card – which means enhancing your purchasing power further. Here are the complete details about the Syndicate Bank Credit Card Reward Program.

How do I earn reward points under the Syndicate Bank Credit Card Reward Points Programme?

Simple! Just swipe your card. You get 1 reward point for every INR 200 you spend – so if you shop for a mere Rs. 1000, you bag 5 points. The points are automatically credited to your rewards account and you can redeem them in exchange for a whole range of approved products and services. There are of course some terms and conditions which govern the program and which you will have to explicitly accept before you can begin earning reward points. More on this later.

How should I redeem reward points earned on my Syndicate Bank credit card?

You can redeem your points against a select range of categories – scroll down to see the list. You can also cash in your points and have the amount added to your credit card balance. If you choose to cash in you will earn INR 0.50 against each point.

To redeem your points, call the customer care number for Syndicate Bank in your city or state. Talk to a customer care representative who will let you know how many points you have to your credit. You can only redeem in multiples of 500 points and the bank deducts TDS on redemption transactions. Syndicate bank credit card reward point program has a unique advantage in that there is no restriction on the items you can purchase against redemption. The amount equivalent to redemption is added to your credit card balance and you can use it to make any purchase you like from groceries to luxuries.

Go Green Scheme for Syndicate Bank Credit Card Holders

Syndicate bank has a go green scheme for its credit card holders. You must register your email id with the bank and make a request to send your credit card statements via email. The bank shares it’s saving on paper and ink with you in the form of 5 additional reward points for every transaction you make.

Syndicate bank Credit Card Types

Syndicate bank offers you a two types of credit cards on which you can earn reward points. The following table details the benefits under each type of card

Syndicate Classic Card Syndicate Gold Card
Reward Points1 Reward Point on every Rs. 200 spent1 Reward Point on every Rs. 200 spent
Amount credited on card usageRs.0.50 per reward pointRs.0.50 per reward point
Card AcceptanceDomestic and InternationallyDomestic and Internationally
Annual FeeRs. 300Rs. 500
Joining FeeRs. 100 Rs. 500
Add-on Card FeeRs. 150Rs. 250
Senior Citizens & PensionersMinimum Annual Income of Rs. 60,000N/A
Salaried PersonsMinimum Annual Income of Rs. 60,000Minimum Annual Income of Rs. 1,50,000
Self-Employed persons, Professionals & BusinessmanMinimum Annual Income of Rs. 1,00,000Minimum Annual Income of Rs. 2,00,000

Categories under which the Syndicate Bank Credit Card can be used:

  • Shopping Card
  • Cashback Card
  • Rewards Card
  • Travel Card
  • Life Time Free Card
  • Business Card
  • Lifestyle Card
  • Entertainment Card

You can avail of discounts, offers, and more under these categories simply by swiping your Syndicate Bank Credit Card.

Rules and regulations for My Rewards

  • Cards are only valid for Indian currency transactions. The card holder cannot use the Syndicate Bank Credit Card to make transactions in any foreign currency.
  • All transactions are governed by the guidelines of the RBI as published from time to time. FEMA (Foreign Exchange Management Act) rules also apply to all credit card and redemption transactions.
  • Service tax and other taxes are applied to all credit card transactions.
  • Syndicate Bank charges an annual maintenance fee for both primary and add-on credit cards.
  • Late fee is applicable for overdue amount on credit card.
  • You can only redeem your reward points if there is no overdue amount on your card.
  • All decisions regarding spending limit on credit cards, redemption of reward points and other benefits and terms are at the sole discretion of the bank.
  • Any discrepancies or other issues with respect to credit cards and reward points must be communicated to the bank in writing within 30 days of receiving the statement.
  • Syndicate Bank credit cards are valid for a period of 3 years. No reward points will accrue on expired cards.
  • Syndicate Bank charges a renewal fee for renewal of credit card every 3 years.
  • No statement will be issued in months when there are not dues payable.
  • In case you fail to receive your statement by the 27th of any month, call the customer care number.
  • It is advisable to intimate the bank in advance in case you are making a high value transaction with your credit card. This is a precaution against the bank taking action on suspicion of fraud.

Frequently Asked Questions

1. What should I do if I lose my card?

In case you have misplaced or lost your card, call the customer care number immediately. Also lodge an FIR for loss of credit card. When you call the customer care number make a request to block the card and at the same time place a request for a duplicate card. Once all verifications have been made you will be issued a duplicate card against a small fee.

2. I want to apply for the Gold Credit Card from the Syndicate bank for my father who is senior citizen. How can I apply and what are the formalities?

The Syndicate Bank Gold Credit Card is a facility given to senior citizens and pensioners. If you or your relative is not a pensioner, you can get the Classic Credit Card with all benefits for senior citizens. To do this the card holder must be at least 75 years of age and should have an income of at least INR 60000 per annum.

3. How to escalate my grievance as I am not satisfied with the customer care services for my credit card point redemption?

Syndicate Bank has a grievance redressal system in place through which you can move step by step right up to the top management of the bank. For more details visit the website of the bank.

4. Is TDS applicable on any rewards redemption transaction done by the customer?

Yes, TDS is applicable on all Syndicate Bank credit card and reward point transactions.

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