Utkarsh Small Finance Bank Eternal Credit Card – சலுகைகள், கட்டணங்கள் & தகுதி

Utkarsh Eternal Credit Card

The Utkarsh Eternal Credit Card, offered by Utkarsh Small Finance Bank, is designed to empower your finances and enrich your lifestyle through a robust cashback program. Available on both Mastercard and RuPay networks, this card features no joining fee and is free for the first year. Cardholders can enjoy a flat 1.25% cashback on all eligible transactions, which is automatically adjusted against their next billing statement. The card's renewal fee can be waived based on annual spending. Exclusively offered to existing bank customers, the application process is streamlined, often requiring no additional supporting documents.

Welcome Benefits

• No Joining Fee.
• No Annual Fee for the 1st year.

Fees

• Joining Fee: No Joining Fee.
• Renewal Fee: ₹1,999 + GST, applicable from the 2nd year onwards.
• Spend-Based Waiver: The renewal fee is waived on annual spends of ₹1.5 Lakhs or more in the previous year.
• Rewards Redemption Fee: Not applicable.
• Foreign Currency Markup: 3% of the transaction value.
• Interest Rates:
  • Up to 3% per month (36% Annual Percentage Rate) for unsecured credit cards.
  • 2.5% per month (30% Annual Percentage Rate) for FD-backed credit cards.
  • Interest-free period of up to 50 days.
• Fuel Surcharge: 1% fuel surcharge waiver for transactions between ₹400 to ₹5000.
• Cash Advance Charges: 5% of the cash advance amount or ₹500, whichever is higher.
• Card Replacement Fee: ₹500 for card replacement (e.g., due to loss or theft).
• Late Payment Fee: ₹500, in addition to interest on the outstanding amount.
• Physical Statement Fee: ₹50 per physical statement (e-statements are provided free of cost).
• Alerts Facility: Email and mobile alerts facility is free of cost.
• Online Bill Payment Facility: This facility is free of cost.
• Setting Transaction Limits: The facility to set desired transaction limits is free of cost.

Rewards

• Earn a flat 1.25% cashback on all eligible transactions.
• No specific benefits for Movies, Dining, Travel, Domestic Lounge Access, International Lounge Access, Golf, or Insurance.
• Cashback Exclusions: Cashback is not earned on the following spending categories:
  • Wallet recharges
  • Financial Institutions
  • Government services
  • Charities
  • Foreign Currency Purchase
  • Insurance
  • Railway
  • Mutual Funds
  • Education
  • Transport
  • Fuel (a 1% fuel surcharge waiver is available, but the transaction itself does not earn cashback).
  • Utility Payments (Electricity, Telephone, Internet, Water, etc.)

Rewards Redemption Guide

• The cashback earned is automatically adjusted against your next billing statement.

Card Eligibility Criteria

Eligibility Rules

• Must be an existing customer of Utkarsh Small Finance Bank with an active Current Account, Savings Account, Fixed Deposit (FD) Account, or Loan Account.
• Must be an Indian Resident.
• Age Limit for Unsecured Credit Card: 21 to 65 years.
• Age Limit for FD-Backed Credit Card: 18 to 65 years.

Documents Required

• No additional documents are required for eligible existing customers. Customers are advised to ensure their latest KYC details are updated with the bank.

Card Review

The Utkarsh Eternal Credit Card positions itself as a mid-range offering within the bank's credit card portfolio, providing a decent flat cashback rate. While it offers a higher cashback percentage than the Utkarsh SmartGen Credit Card, it lacks the lifestyle perks found in more premium cards like the Utkarsh Rhodium Credit Card. The card is accessible, especially for existing bank customers, and provides flexibility by being available against a Fixed Deposit. However, the annual fee of ₹1,999 + GST from the second year onwards is a point of consideration, especially given the absence of features such as airport lounge access, accelerated rewards, or other travel/golf benefits, which might be found in other cards with comparable or lower annual fees.

Pros

• No joining fee and first-year free.
• Available as an FD-backed credit card, making it accessible for building credit.
• Renewal fee waiver on annual spending of ₹1.5 lakh or more.
• Flat 1.25% cashback on eligible spends.

Cons

• No airport lounge access, either domestic or international.
• Does not feature an accelerated rewards program for specific spending categories.
• Lacks travel, golf, or other lifestyle perks.
• The annual fee from the second year onwards can be high relative to the benefits offered compared to some other cards in the market.

Important Product Details

• First-year free credit card with no joining fee.
• Offers a flat 1.25% cashback on all eligible transactions.
• The annual fee is waived if ₹1.5 lakh or more is spent in the previous year.
• Available in both Mastercard and RuPay network variants.
• Can be obtained as an unsecured credit card or against a Fixed Deposit.
• Exclusively offered to existing customers of Utkarsh Small Finance Bank.
• Comes with an interest-free period of up to 50 days.
• Provides 1% fuel surcharge waiver for transactions between ₹400 and ₹5000.

Other Details

How to Apply

• Eligible existing customers may receive a pre-approved/pre-qualified credit card link on their personal registered email ID with the bank.
• Customers can also contact the bank directly to apply.
• It is crucial for customers to ensure their latest KYC details are updated with the Bank.

Card Activation & Green PIN Generation

• Credit cards must be activated within 30 days of issuance to prevent closure as per RBI guidelines.
• Steps to Activate and Generate Green PIN:
  • Visit the Credit Card portal: https://creditcards.utkarsh.bank.
  • Log in using your registered email ID and password. If you don't remember the password, click "Forgot Password" to reset it.
  • Navigate to the Cards page and select your card from the list, typically identifiable by its last 4 digits.
  • Click the "Activate" button to begin the pre-activation verification process.
  • Follow the on-screen steps, which typically include Card Verification, Setting a Security PIN, and Customer Verification via OTP.
  • Set your desired transaction channels (ECOM/POS/ATM) to complete the activation.
  • Upon successful completion, your Utkarsh Credit Card will be activated.

Security Guidelines

• Do's:
  • Create strong, unique passwords for your Credit Card online transactions.
  • Always memorize your Personal Identification Number (PIN) and change it regularly.
  • Activate your card upon receipt via the Credit Card portal: https://creditcards.utkarsh.bank/.
  • Set a limit on your domestic transaction channels (ECOM/POS/ATM) after receiving your Credit Card.
  • Enable international transaction channels only when required, such as when traveling abroad.
  • Regularly review your Credit Card statements for any unauthorized transactions.
  • In case of loss/theft of the card or fraudulent transactions, immediately call customer care at 1800-309-3665 or send an email to creditcards@utkarsh.bank to hot-list the card.
• Don'ts:
  • Never share your Credit Card number, PIN, or CVV with anyone over the phone or online.
  • Do not allow anyone else to use your card or enter your PIN for you.
  • Avoid using easily guessable information like birthdates or sequential numbers for your PINs or passwords.
  • Do not write down your PINs or passwords or store them in easily accessible places.
  • Beware of phishing - do not respond to emails, SMS, or calls asking for your card details or personal information, as the bank will never ask for such details.
  • Do not use your Credit Card on untrusted or unfamiliar websites.
  • Remember to follow the bank’s specific security guidelines and contact them immediately if you suspect any unauthorized activity on your Credit Card.

Card Delivery and Re-dispatch

• Customers will receive card dispatch status updates via SMS on their registered mobile number.
• There will be two delivery attempts to the customer's address. If the customer is unavailable, the card will be returned to the origin (RTO), and an SMS will be sent notifying the customer of the non-delivery.
• If a card is returned to the origin after two failed attempts, customers may request re-dispatch by calling the bank’s customer care center at 1800 309 3665 or sending an email to creditcards@utkarsh.bank.
• On a customer's request for replacement, the reissued/replaced card will be delivered to the customer's registered address within 2 weeks.

Credit Card Against Fixed Deposit (FD-Backed Credit Card)

• A "Credit Card against FD" refers to a financial arrangement where a Credit Card is issued to an individual using a Fixed Deposit (FD) held with the bank as collateral.
• Benefits:
  • Provides an opportunity to build or improve your credit score.
  • The Fixed Deposit continues to earn interest while being held as collateral.
  • Responsible usage and on-time payments can positively impact your credit history and score over time.
• Disadvantages:
  • The deposit ties up your funds, making them unavailable for other uses.
  • Requires a security deposit (the FD amount) to open.
• Application: The bank will intimate existing customers who have an FD account about applying for a Credit Card against FD.
• Credit Limit: Customers will receive 100% of the FD amount as their Credit Card limit.
• Minimum FD Amount: The minimum Fixed Deposit amount required for this card is ₹25,000.
• Credit Limit Increase: Generally, the credit limit does not increase; it is fixed based on the existing FD at the time of card issuance.
• Lien: A lien will be marked on the customer's FDs to the extent of the Credit Card credit limit.
• Closure:
  • An FD can be closed before the Credit Card tenure ends, provided all Credit Card dues are fully paid off, a Credit Card closure request is submitted, and the Credit Card account is officially closed.
  • It is not possible to close the Fixed Deposit account without also closing the Credit Card linked to it.
• Features: The features of an FD-backed Credit Card are generally the same as a non-FD linked Credit Card.

Dispute and Fraud Reporting

• Raising a Dispute: For any Credit Card transaction disputes, customers should immediately contact customer service at 1800 309 3655 or send an email to creditcards@utkarsh.bank.
• Dispute Status & Withdrawal: To inquire about the status of an initiated dispute or to withdraw one, contact customer care at 1800 309 3665 or email creditcards@utkarsh.bank.
• Reporting Fraud: Report fraud immediately by calling customer service at 1800 309 3665 or emailing creditcards@utkarsh.bank. Card blocking can also be done by the customer through the Credit Card portal, internet banking, or mobile banking.
• Chargeback Turnaround Time (TAT): Customers should raise a chargeback request within 120 days from the day of a failed transaction.

Card Blocking due to Incorrect PIN/OTP

• If three incorrect PIN/OTP attempts are made, the card will be temporarily blocked.
• To reactivate the card, the customer must reset the PIN by calling customer service at 1800 309 3665, emailing creditcards@utkarsh.bank, or through Mobile/Internet Banking after successful authentication of the card holder.

Statement Generation and Payment

• Statements will be generated for all card accounts on the 15th day of every month, with the payment due date on the 5th day of the following month.
• Minimum Amount Due (MAD) Calculation: The MAD is calculated as 5% of [retail spends + cash withdrawals] + 100% of [GST + EMI amount + Fees/Charges + Interest] + Overdue [MAD of the previous statement] + Overlimit amount.
• Payments made will be credited to your Credit Card account within 24 hours.
• If more than the total amount due is paid, the excess amount will be reflected in the monthly statement and adjusted against future purchases and/or dues.

Credit Card Account Closure

• To close your Credit Card account, customers need to call Customer Care at 1800 309 3665 or email creditcards@utkarsh.bank.

Repayment Methods

• Customers can pay their Credit Card dues via NEFT mode or by utilizing other payment channels offered by the bank, including the dedicated credit card bill payment section on their website (https://www.utkarsh.bank/personal/payments/credit-card-bill-payment).

CIBIL Report

• Since a Credit Card is a lending product, it will reflect in your CIBIL report.
• For inquiries regarding your CIBIL report, you can write to info@cibil.com.

General Card Information

• The CVV (Card Verification Value) number is a 3-digit code printed on the back of the Credit Card, used for IVR and online transactions. It should never be shared.
• Chip Credit Cards can be used wherever Mastercard/RuPay are accepted, for what are known as "Card Present Transactions."
• Your account number is distinct from your Credit Card number.
• Upon a successful transaction, the customer will receive a charge-slip from the merchant and an SMS/Email notification on their registered contact details.
• The Most Important Terms and Conditions (MITC) are sent along with the welcome kit, emailed as a soft copy when the Credit Card is issued, and a downloadable copy is displayed on the bank's website.