In today’s society, credit is still a taboo issue. Credit is still viewed as a nuisance in India, and paying high interest rates over a short period of time is not for everyone. As a result, the UNI card is introduced to the market, causing the existing credit card procedures to be disrupted. Despite being a credit card, the UNI card acts more like a buy now pay later BNPL card. Uniorbit Technologies, in collaboration with RBL Bank, Liquiloans, and the Mauritius State Bank, introduced the UNI cards. Customers may divide their invoices into three installments without incurring additional costs using this BNPL card, which is different from other standard cards.
You can make the payment of INR 30,000 over three months by paying INR 10,000 every month, interest-free.
Features of the UNI card
There are over 100 credit cards to choose from. The UNI card, on the other hand, is unique in a number of respects and offers a variety of tempting features and perks. Some of these are mentioned below-
- It allows you to obtain a 1% return when you pay the full amount.
- A membership fee or an annual fee is not charged by the UNI team.
- Uni Card is a free membership card that is valid for life.
- UNI cards are accepted by merchants all around the United States.
- The minimum credit limit of this card is INR 20,000 and the maximum credit limit is of INR 6 lakhs.
- There is also a scan and pay option available in the Uni card app.
- To avoid card misuse, this UNI card features built-in data security and encryption.
- 1% bonus on all retail purchases.
- A 13 payment is available for an emergency expense, fashion sales, necessities, and grocery expenses.
- The new features allow you to divide your payments into 6 months, 8 months, 12 months, and 18 months.
- The additions, which are aimed mostly at foodies, will be released shortly, and you may sign up for a free Zomato pro membership.
Requirements for obtaining a UNI card and the papers necessary
Each credit card has its own set of rules that must be followed. Before applying for a credit card, individuals must satisfy the requirements and have the relevant papers on hand. The following are the paperwork and requirements for obtaining a UNI card: –
- It is necessary to present your Aadhar card.
- When applying for this one-of-a-kind card, you must provide verification of your address.
- You should have income proof when applying for a UNI card.
- Minimum age requirement – 25 years
- Only those above the age of 60 are eligible for this card.
- Only the residents of India can apply for this card. This is a card with an Indian theme.
A Uni card comes with a variety of benefits and functions. You can get those while doing your study. There are several cards similar to a Uni card, such as a slice card, that allow you to buy now and pay later. The main consideration for a borrower is whether they are eligible for a Buy Now Pay Later card and whether they have the minimum, check CIBIL score to apply for it. The requirements differ from one lender to the next. It is also contingent on the applicant. Determine your eligibility before submitting an application for the card. Also, whatever credit card is ideal for you is entirely up to you.