English MITC
English MITC
English MITC
SERVICE CHARGES
EMI FACILITY
Cardholders can avail EMI facility on all merchant transactions of Rs.5,000/- &
above, except on Jewellery purchases, Cash withdrawal through ATMs and
Cash @ PoS, Purchase of fuel at Petrol Pumps and transactions at Bars. The
facility can be availed for 3 / 6 / 9 / 12 months. This facility attracts the following
charges.
FINANCE CHARGES
If Minimum Amount Due (MAD) 2.50% p.m. / 30% on annualized basis
paid by Payment Due Date
If Minimum Amount Due (MAD) 2.95% p.m. / 35.4% on annualized basis
not paid by Payment Due Date
Date of
Transaction Particulars Amount
Transaction
30-08-2022 Grocery 5000 Dr
10-09-2022 E-comm 10000 Dr
Assuming no previous balance carried forward from 25th Aug’22, the Statement
generated on 25th Sep’22 shows an outstanding balance of Rs. 15000/-. MAD
@ 5% would be Rs.750/- with Payment Due date as 15th Oct’22.
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MAD of Rs. 750/- paid on 15th Oct’22, Bank will charge finance charge @
2.50% p.m. on remaining balance i.e. @ 2.50% on Rs. 14,250/- for one
month.
Statement generated on 25th Oct’22 shows total dues as Rs. 14,670.37 [i.e.
Rs.14250 + Interest amount Rs. 356.25+ GST Rs. 64.12] and MAD @ 5%
on Rs.14,670.37 i.e. Rs.740/- (rounded off to the next 10).
Bank will charge finance charge @ 2.95% p.m. on total due amount i.e. @
2.95% on Rs. 15000/- for one month and late payment fee Rs. 200/- shall be
levied.
Statement generated on 25th Oct’22 shows total dues as Rs. 15,758.15 [i.e.
Rs.15000 + Interest amount Rs. 442.50+ GST Rs. 79.65 + Late fee Rs. 200
+ GST Rs. 36] and MAD @ 5% on Rs.15,758.15 i.e. Rs.790/- (rounded off
to the next 10).
B. DRAWAL LIMITS
i. The Bank will at its sole discretion, determine the Credit Limit and Cash
Advance Limit and notify the Cardholder.
ii. The available Credit Limit to the Cardholder will be the unutilized value of the
Credit Limit at any point of time after taking into account, the balance
outstanding and any transaction already done by the Cardholder, but not
received by the Bank for processing as on that date.
iii. The Bank at its sole discretion may consider Renewal, Enhancement /
Reduction in Credit Limit/ Cash Advance Limit based on proven income as per
Bank’s policy guidelines.
iv. The total limit will be terminated upon cancellation of the Credit Card.
v. The Cash withdrawal limits for all Card variants is as under.
C. BILLING
Bills will be mailed by the Credit Card Department on the 25th of every month to the
Registered e-mail ID provided by the cardholder. Bills are sent to cardholders
provided there is (1) usage in the card (2) any outstanding amount in the Card and
(3) any Credit balance in the Card.
i. Due Date for payment of the bill amount will be 14th/15th of the succeeding month
i.e. 20 days from the date of Billing.
ii. To find out the details of the Bill, Card holder can contact the Bank through 24x7
National Toll-free No. 1800 425 1515 or Phone No. 040-24683219 / 3210 /3220
or during office hours,
iii. Non-receipt of the Bill will not absolve the Card holder's obligation or liability
under the agreement. Card holders are expected to settle the bills based on
usage of the Card / Charge slips or by inquiring the bill amount on the above
numbers or through Mobile App (Union Credit Card App / VYOM).
iv. Rollover Credit Facility: Card holder can choose to pay "Minimum Amount
Due" (MAD) as shown in the Bill. MAD is 5% of the total amount due with a
minimum of Rs. 100/- plus unpaid MAD, if any, of the previous month plus EMI
payable during the month.
v. If only MAD is paid on or before Due Date, the outstanding balance will be rolled
over to the subsequent month. The Roll-over balances attract Finance charges
as mentioned under the head ‘Fees and charges’ above.
vi. Card holder is also at liberty to pay the total dues or MAD or any amount between
the MAD and total dues.
vii. The liability arising out of the usage of Add-on Card will be that of the Principal
Cardholder only.
viii. Making only the minimum payment every month would result in the repayment
stretching over months/years with consequential compounded interest payment
on the outstanding balance.
Method of Payment
I. Payment of Credit Card bills are accepted in cash or cheque or any other Bank
cheque/DD across the counter at all Branches of Union Bank of India.
II. Customers can opt for standing instructions / Auto debit for payment of "Total
VIII.Billing Disputes: All contents of monthly bill will be deemed to be correct and
accepted by the Card holder, unless Card holder informs the Bank of any
discrepancies before the due date of the bill. The Bank on receipt of written
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complaint shall duly investigate as per the VISA/NPCI dispute resolution
procedure and rectify, in case of any genuine discrepancy.
The Cardholder may contact the Bank for making any enquiries or for any
Grievance Redressal through any of the following means:
1) 24x7 Toll Free No.: 1800-425-1515
2) 040-24683210 / 3219 / 3220 (Customer Service Officer during office hours)
3) Through e-mail: [email protected]
4) In case response is not received by the Cardholder within a reasonable time,
Card holder may contact the Credit Card & MAB Department Grievance
Redressal Officer at Credit Card & MAB Department. Union Bank of India,
Union Bank Building, Sultan Bazar, Hyderabad on Phone No 040- 24683209
or by sending an e-mail to: [email protected]
D. IN CASE OF DEFAULT
Before reporting a Cardholder as defaulter, such Cardholder will be issued a seven-
day notice period about Bank’s intention to report him/her as defaulter to the Bank.
If the Cardholder settles the dues after having been reported as defaulter, Bank will
update the status within 30 days from the date of settlement of the dues.
Special Mention Accounts (SMA)
As per the Regulatory guidelines, Bank is required to identify stress accounts by
creating sub-asset categories known as Special Mention Accounts (SMA).
SMA is categorized based on Principal or Interest payment or any other amount wholly
or partly overdue
SMA 0 (Up to 30 days from Payment Due Date)
SMA 1 (More than 30 days & up to 60 days from Payment Due Date)
SMA 2 (More than 60 days & up to 90 days from Payment Due Date)
Non-performing Asset (NPA)
A Credit Card account will be treated as NPA if the MAD is not paid within ninety (90)
days from the Payment Due Date as mentioned in the statement.
In case of default Payment, reminders are sent by telephone, SMS, e-mail from time
to time to the Card holders, for payment of outstanding amount in the card account.
Bank staff and or third parties will contact cardholder personally to remind, follow-up
and collect dues. Any third party so appointed, shall adhere fully to the Fair Practices
Code for lenders. Bank retains the right to initiate legal action against the Card holder
/ legal heirs in case of default.
In addition to the above, presently NPCI is offering the following free accidental death
Insurance coverage for the RuPay Cardholders i.e. the Premium shall be borne by
NPCI for Primary and Add-on Cards.
Accidental death
S. No. Variant Insurance Coverage
(Rs.)
1 RuPay Platinum 2,00,000
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2 Union UNI-CARBON 10,00,000
(RuPay Platinum variant)
3 RuPay Select 10,00,000
Insurance amount, Premium, Policy Tenure along with Policy Provider are subject
to changes from time to time. For latest details please visit our Credit Card website
https://unioncards.unionbankofindia.co.in/ .
Details of Accidental death Insurance Coverage and Premium payable:
i. In the event of settlement of claim, the Bank is at its discretion, to adjust the
proceeds of insurance claim first to all its outstanding liabilities of the Cardholder
in the card account and any other loans & advances pertaining to the deceased
cardholder.
ii. Bank is only a facilitator in settlement of Insurance claims and any claim
settlement, is at the discretion of the insurance Company as per terms and
conditions of Policy. Any dispute in settlement of claim is at the discretion of the
Insurance Company as per Terms of the Policy and Bank takes no responsibility
or liability in this matter, whatsoever.
iii. Bank will debit the premium from Credit Card holders A/c on the date of activation
of Credit Card and hence, the Cardholder will be covered from the date of
premium debited from Credit Card holders A/c.
iv. The accidental insurance cover provided will be available to card holder, only so
long as the card holder remains a Cardholder of the Bank, with his card account
being in "Active" status.
v. For RuPay variants, to be eligible for claiming Insurance coverage offered by
NPCI, Cardholder should have done minimum one successful RuPay Card
induced financial transaction at any PoS/e-com, both Intra and Inter-bank i.e. on-
us or off-us within 30 days prior to date of accident including accident date of
RuPay Cardholder.
vi. Cardholder desirous of opting for Accidental Death Insurance Coverage, can do
so explicitly in writing or in digital mode, duly providing the details of nominee viz.
Name of the Nominee, Age of the Nominee and Relationship with the Cardholder.
E. TERMINATION / REVOCATION
i. Cardholder is at liberty to terminate the agreement at any time by notifying the
Bank in writing or through dedicated e-mail ID, IVRS or SMS. Termination will
be effective only after payment of the total dues in the Card account.
ii. For cancellation of Credit Card, Cardholder can also visit our Website
https://unioncards.unionbankofindia.co.in/
vi. If a Credit Card has not been used for a period of more than one year, the
process to close the Card is initiated after intimating the Cardholder. If no reply
is received from the cardholder within a period of 30 days, the card account is
closed, subject to payment of all dues by the Cardholder.
F. LOSS / THEFT / MISUSE OF CARD:
i. In the event a Card is lost or stolen, the Cardholder must notify the Bank
immediately by Phone or through e-mail / SMS / Mobile App.
Telephone 24x7 National Toll-free Number-1800 425 1515 or Phone No.
040-24683210 or 24683220
e-mail [email protected]
SMS From Registered Mobile Number to 7836884400 as under.
CARDLOST<space>XXXX (XXXX denotes LAST 4 digits of
the Credit Card Number
ii. The Card holder must lodge a complaint/First Information Report (FIR) with
police and a copy of which must accompany the notice to the Bank.
iii. Card holder is liable for all transactions, charges incurred on the Cards, till the
notice/communication is received by the Bank.
iv. If the Card holder has a reason to believe that he/she has not received the
Card, or his/her Card is being misused by others, the Cardholder must
immediately notify the same to the Bank in Writing.
v. Cardholder shall bear the entire loss in cases where the loss is due to
negligence by the Cardholder, e.g. where the Cardholder has shared payment
credentials or Account/Transaction details, viz. Internet Banking user Id & PIN,
Credit Card PIN/OTP or due to improper protection on customer devices like
mobile / laptop / desktop leading to malware / Trojan or Phishing / Vishing
attack. This could also be due to SIM deactivation by the fraudster. Under such
situations, the Cardholder will bear the entire loss until the Cardholder reports
the unauthorized transaction to the Bank.
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vi. Card holder must fully co-operate with the Bank / Law enforcing authorities in
the event of any investigation into any disputed transactions.
H. DISCLOSURE
i. The applicant expressly authorizes the Bank as under.
“To disclose, from time to time any information relating to my/our card/s
including any default or payments to any other card issuer, CIBIL or any credit
information bureau, financial institution, subsidiary, affiliate or associate of
Union Bank of India and to any third party engaged by Union Bank of India for
purposes such as Marketing, Verification, Recovery or follow-up of card dues
and to improve functionality and stability of the financial system.
I. EXCLUSION OF LIABILITY
Without prejudice to the foregoing, the Bank shall be under no liability whatsoever, to
the Card holder in respect of any loss or damage arising directly or indirectly out of -
a) Any defect in any goods or services purchased through the Credit Card.
i) Any injury to the credit character and reputation of the Cardholder alleged to
have been caused by repossession of the Card and for any request for its return
or the refusal by any merchant establishment/ATM/website or mail order, or any
establishment to honour or accept the Card.
j) Decline of a charge because of exceeding foreign exchange entitlements as
prescribed by FEMA rules or RBI guidelines, issued from time to time or the
Bank becoming aware of the Card holder exceeding his/her limit or entitlements
etc.
k) In the event of a demand of outstanding dues or claim for settlement of
outstanding dues from the Card holder is made either by the Bank or any person
acting on behalf of the Bank, the Cardholder agrees and acknowledges that
such demand or claim shall not tantamount to be an act of defamation or an act
prejudicial to or reflecting upon the character of the Card holder, in whatsoever
manner.
l) Bank is nowhere held responsible for whatsoever the acts of VISA / NPCI
concierge services or any other services offered by VISA / NPCI in any country
or merchants who have offered any discounts or cash back or any merchant
benefits or under any scheme, that is offered or that may be offered, from time
to time.
m) Decline on any online transaction authorization by the computer system or
communication network due to defects in authentication on validating with
wrong details of the card.
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K. MISCELLANEOUS:
i. Cardholder should activate the Card within 30 days from the date of issuance of
the Card, failing which the Card will be cancelled as per RBI guidelines.
ii. Cardholder shall visit our Website https://unioncards.unionbankofindia.co.in/ or
use the Union Credit Card App / VYOM for Green PIN generation.
iii. Cardholder should furnish the Mobile number and e-mail address for receiving
the transaction alerts. Any change in the e-mail ID or Mobile number is to be
informed to the Bank immediately, by approaching any branch of Union Bank of
India. Any correspondence with the Bank shall be from the registered e-mail id
only.
iv. Cardholder shall set the sub-limits within his/her overall Credit Card limit viz. for
e-Comm, PoS, ATM for domestic as well as for International transactions,
through the Union Credit Card App / VYOM.
v. Cardholder should inform the Bank immediately (24x7 Toll free No. 1800 425
1515) upon receipt of any alert not pertaining to him/her, which may be of
suspicious nature on account of fraudulent transaction / misuse of the card.
vi. Cardholder shall use the card only in a reputed merchant establishment and
ensure that the card swipe takes place in their presence to avoid skimming fraud.
Any online transactions to be made only in a secured website (website with
https://) to prevent misuse or hacking the card data.
vii. Whenever a Cardholder makes any online transactions, it should be ensured that
the transaction is done with a 2 factor authentication (2FA). If the Website is not
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prompting for additional password authentication, the Cardholder is held
responsible for all acts and payments in this regard. Bank is not responsible in
case any dispute arises at a later date.
viii. Cardholder to avoid any phishing e-mail that may demand for the card details,
expiry date CVV number or 2 factor authentication password or OTP.
ix. Apart from the terms and conditions mentioned above, Bank retains the right to
alter any charges or fees from time to time or to introduce any new charges or
fees, as it may deem appropriate, with due intimation to cardholders.
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