Credit card: Unity Small Finance Bank and BharatPe have jointly launched India’s first EMI-based credit card, which has been introduced on the RuPay network. This card allows customers to pay for large purchases in easy EMI options instead of paying for them in a lump sum. This will give consumers flexibility according to their needs and expenses.
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New experience related to NPCI and UPI
This credit card has been developed in collaboration with the National Payments Corporation of India (NPCI). The special thing is that it can be linked to the Unified Payments Interface (UPI), so that customers will be able to make online and offline payments easily across the country. Customers can pay for their shopping or other expenses in EMIs for up to 12 months. Also, the reward points available on this card can be redeemed directly through the BharatPe app.
No additional charge
This credit card has been made available to customers completely without a joining fee and without an annual fee. Not only this, if a customer wants to pay the EMI before time, then no foreclosure charge will be levied on him. That is, the customer can avoid additional burden by repaying his loan early.
Additional benefits for customers
Customers will also get some special facilities on this credit card. This includes the facility of lounge access at domestic and international airports. Apart from this, cardholders will also get the benefit of a preventive health checkup from time to time. This facility is especially useful for those who like to get their health checked regularly.
Transparency and flexibility
Unity Bank and BharatPe have kept the charges and rules of this credit card completely transparent. Customers can pay for big purchases according to their needs and budget. The most important thing is that whether a person is employed or self-employed, they can both apply for this card. The application process is extremely simple and can be completed through the BharatPe app.
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Caution is necessary
Financial experts say that since there is an option to convert every big purchase into EMI on this card, customers can spend more without thinking. If the burden of EMI increases, then the person can come under financial pressure. Therefore, this card must be used thoughtfully and in a planned manner, so that the burden of debt does not increase.