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

Tiga Credit Card

Introduction

The Equitas Tiga Credit Card is a rewards-oriented digital credit card designed to offer a blend of earning potential and flexible payment options. Cardholders can enjoy up to 50 days of interest-free credit, earn accelerated rewards on digital transactions, and benefit from various insurance and waiver features. It is tailored for individuals who seek flexibility in converting purchases into EMIs and earning extra rewards on everyday digital and contactless spending.

Welcome Benefits

• First Year Free Offer: The Tiga Card is offered free for the first year, excluding GST (limited period offer).
• Introductory Low Annual Percentage Rate (APR): A special interest rate of just 0.99% per month is applicable for the first 3 months from the card opening date.

Fees

• Annual Fee: Rs. 500 (from the second year onwards).
• Renewal Fee Waiver: The annual renewal fee can be waived if you spend Rs. 1,20,000 in the previous anniversary year.
• Joining Fee: ₹500 (standard joining fee, but waived for the first year under the limited period offer).
• Interest Rates:
  • Introductory APR: 0.99% per month for the first 3 months from card opening date.
  • Interest-Free Credit Period: Up to 50 days on your spending.
• Fuel Surcharge: 1% waiver on fuel transactions across India, applicable for transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 100 per statement cycle.
• Cash Advance / ATM Withdrawal Charges: 2.5% of the amount withdrawn or ₹250, whichever is higher. Finance charges apply from the day of withdrawal until full repayment.
• Other Charges: The bank may levy other charges such as late payment, over limit, and return of payment fees as per the Schedule of Charges in the Card Agreement / Most Important Terms & Conditions (MITC).

Rewards

• Accelerated Rewards: Earn 3X Reward Points on:
  • UPI transactions
  • Contactless payments
  • Spends with "Pay by 3" merchants
• General Rewards: Earn 1 Reward Point for every Rs. 100 spent on everyday transactions.
• Reward Point Value: 1 Reward Point = Rs. 0.15.
• Pay by 3 Merchants List:
  • Tata Cliq
  • Skull Candy
  • Tony & Guy
  • Tony & Guy Essentuals
  • 1% Club
  • Lectrix
  • Prashanthi Sareex`s
  • Netmeds
  • SLAM Fitness
  • Wedtree
• Low-Cost EMI Conversion (Pay by 3): Automatically convert eligible transactions with select merchants into a 3-month low-cost EMI.
• Insurance Coverage: Enjoy comprehensive complimentary insurance coverage, including:
  • Air accident coverage
  • Credit shield
  • Lost card liability

Rewards Redemption Guide

• Xchange Program: Reward points can be redeemed through Equitas's Xchange portal at xchange.equitasbank.com.
• Redemption Options: Redeem points against a variety of options including products, vouchers, flight bookings, and hotel bookings.
• Redemption Charges: Redemption handling or administrative charges (if any) will be specified in the rewards program terms or the redemption catalogue. Cardholders should refer to the latest catalogue or rewards terms for specific details.

Card Eligibility Criteria

• Annual Income: An annual income of Rs. 4.2 lakhs to Rs. 5 lakhs is required.

Card Review

The Tiga Credit Card is categorized as a Lifestyle & Rewards Card. It is best suited for individuals who make frequent everyday purchases, especially through UPI and contactless methods, and desire flexibility in managing their expenses with short-term EMI options. It is ideal for those who want to split purchases into EMIs and earn extra rewards on tap-to-pay transactions. Key advantages include its 3X rewards on specific categories, the "Pay by 3" EMI conversion feature, up to 50 days of interest-free credit, fuel surcharge waiver, and various insurance protections.

Important Product Details

• Key Highlights:
  • Earn 3X Reward Points on UPI, Contactless payments, and "Pay by 3" merchant spends.
  • Convert eligible transactions on select merchants into a 3-month low-cost EMI automatically ("Pay by 3").
  • Introductory low interest rate of 0.99% per month for the first 3 months.
  • First year annual fee waiver (limited period offer).
  • Annual fee waiver on spending Rs. 1,20,000 in the previous anniversary year.
  • Up to 50 days of interest-free credit.
  • 1% fuel surcharge waiver (up to Rs. 100 per statement cycle).
  • Complimentary insurance benefits including air accident, credit shield, and lost card liability.
  • Reward points can be redeemed via the Xchange program for various products and travel.
  • Eligibility requires an annual income between Rs. 4.2 lakhs and Rs. 5 lakhs.

Other Details

• Mandate HQ: Automate and simplify recurring payments to avoid missing due dates.
• Refer & Earn Program: Option to refer others and earn benefits.
• Customer Support:
  • Banking related: 1800-103-1222
  • Loans/Credit Card related: 1800-103-2977
  • For countries outside India: +91-44-6965-4600
  • Email: customerservice@equitasbank.com
  • For Unauthorized Transactions: unauthtrnx@equitasbank.com
• Information Resources: Links are available for Card Activation, Most Important Terms & Conditions, Card Member Agreement, Key Fact Statement, Payment Options, Credit Cards Closure, Pay by 3 Terms & Conditions, Privilege Program, and Fair Practice Credit Card Operations.