All you should know about UNI Card

UNI Credit Card has been launched by UniOrbit Technologies (UNI) in partnership with the RBL Bank, State Bank of Mauritius (SBM) and Liquiloans. The interest is not incurred from the first billing cycle’s date of payment and the bill is paid over a period of 3 months in equal parts. 

Key Highlights:

UNI Card Highlights
Repayment	Pay in full of 1/3rd for consecutive 3 billing cycles
Annual Fees	Nil
Joining Fees	Nil
Bill Payment Time	10 days
Rewards	1% cashback on full bill payment
Minimum Amount Due	7.5% of the total outstanding principal
Carry Forward Fee	Up to 5.5%
Card Freeze	6 months of not using the card
Late Payment Fee	As per the slabs of bill payment amount. No interest charged on late bill payment.

What is meant by UNI Pay 1/3rd Card?

UNI Pay card allows to pay off the bills in three installments over a period of 3 months. No extra fee is charge to spread out the payment over a period of 3 months.  

Eligibility Criteria: 

Let us now know the eligibility criteria of Uni Pay 1/3rd card: 

• Applicant must be of at least 18 years of age.
• Applicant shall furnish true and authentic identity card, age and other details.
• Applicant should have a good credit score to apply for the Uni Card.

Fees & Charges:

Below mentioned are the fees & charges of Uni Cards:

Particulars	Fee
Joining Fee	Nil
Annual Fee	Nil

 

Rewards on Uni Cards:

• If the spends are to be split into 3 equal parts over a period of 3 months, get 1% rewards in case the bill is paid within 1 month.
• If the spends are to be split into 2 equal parts, get 1.2% rewards in case the bill is paid within 1 month.
• Get 5X value on Uni Store.

Credit Limit for UNI Cards:

The applicant can himself set the limit for payment with the UNI Card. Also, he can choose the way he wants to spend the card by locking and unlocking it from the app.

How to apply UNI Credit Card: 

Below mentioned are the steps to apply for UNI Credit Card: 

Step 1: Visit the website https://www.uni.cards/apply

Step 2: Enter the mobile number, name and e-mail id

Step 3: Click on “Submit”.

Step 4: It will then redirect to another page.

Step 5: Follow the instructions.

Uni Cards Customer Care: 

Option 1: Call the toll free number at 080 6821 6821. 

Option 2: Call +91 22 7120 9091. Also, an email can be sent to [email protected].  

Option 3: Contact the bank’s Nodal Officer if option 2 is not working.

Features of UNI Card: 

Below mentioned are the features of UNI Card:

• No joining fees and annual charges for UNI Beta customers.
• Monthly spend can be paid in 3 parts over a period of 3 months without any extra fee or charges.
• User can opt to pay in full after the 30 days free credit period and can get 1% rewards in the form of cashback.
• For the first time users, credit limit provided ranges between INR 20,000 to INR 6 lakhs.
• Also, in future users will be enable to split spends into longer EMI’s.
• It is accepted at over 99.9% of the merchants all over India.
• Also, scan & pay option at stores is on the way.
• In case UNI charges any fee without knowledge of the user, he is then given 100% money back guarantee.
• Customer care can be reach out at [email protected] or Whatsapp at 080 68216821.
• Systems ensure complete data safety, security and encryption so that nobody misuses it.
• The app can be downloaded from Google Play Store (For Android users) and App Store (Apple users).

How UNI Cards are different from other credit cards? 

Though UNI Card works like a credit card, but it is not a credit card as it just splits the spends into 3 parts. 

Let us understand the same with the help of an example:

• The credit card bill is of INR 60000, out of which INR 10000 i.e. the minimum outstanding is being paid and INR 50000 is carried forward to the next months.
• Now the interest would have to be paid on INR 50000.
• With UNI Card, this bill amount of INR 60000, it can be split into 3 months with an equal amount of INR 20000 per month.

But there is another card similar to UNI Card known as One Card credit card having some crucial features. It is a metallic card available in collaboration with various banks like SBM bank, IDFC First bank, South Indian bank, Bank of Baroda Financial and Federal bank. It is best suited for those who are new to credit and looking to earn rewards on purchases through the card. One of the best features of the card is that it has zero annual and joining charges. So, one can get all the benefits without incurring any charges, just like a UNI card.

Features of One credit card:

Below mentioned are the features of One Card:

• No Hidden Charges:
• Free of Cost
• No Joining Fees
• No Renewal Charges
• No Redemption Fees while redeeming the reward poi
• Manage Card via Mobile App:
• Download the app from Apple App Store or Android Play Store to manage the card.
• Set the transaction limit from the app.
• Manage transactions like domestic, international, online, etc.
• Metal Card:
• Uses a unique metal instead of plastic.
• Seamless On-Boarding:
• No need to visit the bank physically.
• It gets activated within 3 minutes.
• 5X Reward Points on Top Spends:
• Earn 5X reward points on the top 2 spending categories.
• Reward points get credited instantly.
• No expiry date for reward points.
• Swipe the card to redeem reward points.
• One Card EMI Transactions:
• Part payments of the transactions can be made into EMIs.
• No documentation is required to enjoy EMI transactions.
• Reward points can be earned even on EMI transactions.

Fees & Charges:

One card does not charge any annual or joining fees. However, card users may be levied finance charges as well as late payment charges in the case of any disruption. 

Below mentioned are the fees & charges for using One Credit Card:

 

Particulars	Charges
Joining Fee	NIL
Renewal Fee	NIL
Reward Points Redemption Fee	NIL
Finance Charges	2.5% to 3.5% per month or 30% to 42% per annum
Late Payment Fee	2.5% of the Amount Due with a Maximum of INR 1000
Foreign Markup Fee	1%
ATM Withdrawal Charges	2.5% of the Withdrawn Amount with a minimum of INR 300