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UNI Cards: Eligibility & Benefits

When you have a credit card, you attempt to use it as much as possible. Credit card bills, on the other hand, are a source of stress because you’ll have to pay them off every month. You can apply for UNI Cards with no annual or joining fees. Along with such joining benefits, Uniorbit Technologies have introduced the UNI Pay 1/3rd credit card, which allows you to divide your monthly bill payments into three equal installments and pay them over the next three months without incurring any additional fees. It’s not like any other ordinary credit card since you won’t be charged any interest if you pay off your balance in three months. UNI cards differs from conventional credit cards that accrue interest from the first billing cycle’s payment date. You can divide your card payment into three monthly installments with UNI Cards and avoid paying interest. 

Eligibility Criteria

There is a certain set of eligibility criteria that you need to fulfill in order to obtain a UNI card. There are certain requirements that must be met before you can get approval on your credit application. The eligibility criteria for UNI cards are as follows:

  • The minimum age of the applicant should be at least 25 years to be eligible for this card.
  • The maximum age to apply for this credit card is 60 years.
  • Applicants must be a citizen of India to be able to apply for this card.
  • Before applying, make sure that you have a high CIBIL score. 
  • Must have a steady source of income. 

Benefits of UNI Cards

UNI Cards have been launched by Uniorbit Technologies in partnership with RBL Bank, State Bank of Mauritius, and Liquiloans. Where all credit cards charge interest from the first billing cycle, UNI cards, on the other hand, allow you to split your payment into three monthly installments and avoid paying interest. A UNI credit card comes with a few other advantages in addition to this option. Also, there are certain other benefits as well that come along with a UNI credit card, that are as follows:

  • If customers pay their UNI credit card account in full, they will receive a 1% cashback.
  • There is no yearly charge or membership fee.
  • Credit card with no annual fee for the rest of your life
  • At numerous stores, you can scan and pay with your UNI card app.
  • Allows you to pay a third of your grocery cost, as well as essentials and emergency bills.
  • On all retail purchases, you will receive a 1% cashback.
  • The lowest credit limit on UNI Cards is INR 20,000, with a maximum credit limit of INR 6 Lacs.
  • If you have a UNI Card, you are entitled to a refund if you are charged an additional fee without your knowledge.
  • These cards also enable data protection and encryption, ensuring that the card cannot be used without authorization.

How is a UNI Card different from Regular Credit Cards?

Assume you have a typical credit card and must pay a bill of INR 60000 on that card. You pay the minimal sum due of INR 10,000, and the remaining INR 50,000 is carried forward to the following month. As a result, you will be required to pay interest on the sum of INR 50000, which will begin accruing on the following billing cycle date. Now that you have a UNI Card, you have the same outstanding debt of INR 60000, but you can pay it in three equal installments of INR 20000 over the next three months. For the next three months, you will not be charged any interest or additional fees on the outstanding balance. Regular credit cards usually provide an interest-free period of up to 50 days. The UNI Cards, on the other hand, provide a 90-day interest-free term. The main distinction between the UNI Credit Card and other credit cards is this.
However, always make sure that you have a high CIBIL score before applying in order to avoid rejection. Moreover, having a high CIBIL score enables you to select from the Start writing your book today in India. Having multiple credit rejections can further lower your CIBIL score. Therefore, it is advisable to check your CIBIL score before applying in order to avoid rejection as well as lowering your credit score.

Read Also: How to Have a High CIBIL Score?

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