Equitas Small Finance Bank Tiga Credit Card – Benefits, Fees & Eligibility

Introduction

The Equitas Tiga Credit Card is a rewards-oriented digital credit card product from Equitas Small Finance Bank. It offers a compelling value proposition with features like up to 50 days of interest-free credit, accelerated 3x reward points on specific digital spends, and various insurance and waiver benefits, positioning it as a strong contender for everyday spending.

Welcome Benefits

• Limited Period Offer: Get a Life-time Free Tiga Card today (excluding GST).

Fees

• Joining Fee

  • Life-time Free (Limited Period Offer, excluding GST).

• Renewal Fee

  • Waived if you spend Rs. 1,20,000 in the previous anniversary year.

• Rewards Redemption Fee

  • ₹99 per transaction.

• Interest Rates

  • Introductory Low Annual Percentage Rate of 0.99% per month for the first 3 months.

• Fuel Surcharge

  • 1% waiver on fuel transactions across India.
  • Maximum waiver of up to Rs. 100 per statement cycle.
  • Applicable on transactions between Rs. 500 and Rs. 3,000.

• Cash Advance Charges

  • Cash advances are excluded from earning reward points.

Rewards

• Accelerated Rewards

  • Earn 3x Reward Points on UPI, Contactless payments, and Pay-by-3 merchant spends.

• Base Rewards

  • Earn 1 Reward Point for every Rs 100 spent on everyday transactions.

• Reward Point Value (Tiga Card)

  • ₹0.15 per point for travel and voucher redemptions.
  • ₹0.10 per point for cashback redemptions.

• Pay by 3 Program

  • Eligible transactions at select partner merchants are automatically converted into a 3-month EMI.
  • No additional cost to the customer.
  • The full transaction amount is blocked against the credit limit and released gradually as EMIs are repaid.
  • Pre-closure is allowed with applicable charges and reversal of benefits.
  • 3X accelerated reward points are credited in the next billing cycle for Pay by 3 transactions.
  • Pay by 3 Merchants List includes: Tata Cliq, Skull Candy, Tony & Guy, Tony & Guy Essentuals, 1% Club, Lectrix, Prashanthi Sarees, Netmeds, SLAM Fitness, Wedtree.

• Merchant Category Code (MCC) Based Rewards

  • Reward points, including accelerated rewards, are calculated based on the MCC assigned to the merchant.
  • Dining Category MCCs: 5462, 5812, 5814.
  • Apparel Category MCCs: 5311, 5611, 5621, 5641, 5651, 5691, 5655, 5631, 5699.
  • Grocery Category MCCs: 5399, 5411, 5441, 5499, 5311, 5331, 5422, 5451.
  • Utility Category MCCs: 4814, 4900.
  • Taxi Category MCC: 4121.
  • Not all transactions in a category will always earn accelerated rewards; it depends on the MCC assigned by the merchant’s acquiring bank.
  • Transactions like fuel, rent, wallet loads, government payments, cash advances, and EMI conversions are generally excluded from earning reward points unless specified otherwise.

Rewards Redemption Guide

• Redemption Options

  • Redeem reward points against Products, Vouchers, Flight Bookings, and more through the Xchange Program (https://xchange.equitas.bank.in/).
  • Other options include gift vouchers, catalogue purchases, cashback against your card statement, or instant redemption at partner merchants.

• Minimum Redemption

  • A minimum of 500 reward points is required for redeeming points as cashback against your card statement.

• Reward Point Expiry

  • Reward points expire after 24 months from the date they are earned if not redeemed.

• Redemption Fee

  • A redemption fee of ₹99 per transaction will be charged whenever reward points are redeemed.

• Reversal Policy

  • Once reward points are redeemed, they cannot be reversed, cancelled, or reissued.

• Instant Redemption

  • Reward points can be used for instant redemption at select partner merchants during transactions.

• Voucher Usage

  • Customers are advised to check with their preferred brand’s policy on accepting single/multiple vouchers against a single invoice before redeeming reward points.

Important Product Details

• Interest-Free Credit Period

  • Enjoy up to 50 days of interest-free credit on your spending.

• Lost Card Liability

  • Provides coverage of up to ₹10 lakhs against unauthorized transactions in case your card is lost or stolen.
  • Applicable only to the primary cardholder.
  • Coverage becomes active only after completing your first card transaction, PIN setup, or card activation.
  • Detailed policy terms and conditions are available on the bank's website.

• Mandate HQ

  • Automate and simplify recurring payments to avoid missing due dates.

• Billing Cycle Change

  • You can change your credit card billing cycle once per card.
  • Requests can be made through the Mobile Banking App or by contacting the Customer Care Centre.
  • Available billing cycle dates include the 5th, 12th, 13th, 14th, 15th, 16th, 18th, 20th, and 25th of the month.
  • The new billing cycle will typically be implemented in the next billing period.
  • Your payment due date will change accordingly.
  • No specific fee is mentioned for changing the billing cycle.
  • Consider your salary credit date, repayment capacity, and existing financial commitments before selecting a new billing cycle.

• Lounge Access

  • Unused lounge visits cannot be carried forward to the next quarter and will lapse.
  • To access airport lounges, you must present a valid credit card and complete a successful authorization transaction.
  • Lounge access is subject to successful authorization and lounge partner conditions, including availability.
  • Complimentary guest access is not provided; guests will be charged as per applicable rates.
  • If you exceed your complimentary visits, charges will be applicable as per the lounge provider's terms and conditions.
  • A nominal authorization transaction at the lounge confirms the usage of a complimentary visit.

Other Details

• Complete application forms will be processed within 30 days from the date of receipt.
• If additional information or documentation is required, the customer will be intimated within 30 days from the date of application receipt.
• The bank will not be responsible for any rejections from brands regarding the use of multiple vouchers under a single purchase/invoice, as this is purely the brand’s decision.
• For any queries, customers can call 1800-103-2977 (Loans/Credit Card related) or email customerservice@equitas.bank.in.
• For unauthorized transactions, email unauthtrnx@equitas.bank.in.
• Equitas Small Finance Bank Ltd. is located at Phase II, 4th Floor, Spencer Plaza, No. 769, Anna Salai, Chennai - 600 002.