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Uni Pay 1/3 Card Evaluation – Purchase now and pay later is gaining recognition now a day. Everyone seems to be arising with a brand new product round this idea. Uni Pay 1.3 Card is one such distinctive product that gives the power of shopping for now and paying later.
Let’s evaluation Uni Pay 1/3 Card and get the reply – Do you have to go for this distinctive card or not?
What’s Uni Pay 1/3 Card?
Uni Pay 1/3 is an app for home pay as you go sort playing cards. This app lets you get your credit score restrict and issuance of Uni card to spend cash on-line in addition to offline. The distinctive function of this card is it means that you can divide your expense into 1/3 (three equal elements) and pay over three months with none additional price.
This implies by utilizing Uni Pay 1/3 card you should use the cash on credit score for 3 months. One of the best half is you needn’t pay any curiosity or late charges for the delayed fee (as much as 90 days). Not solely that if you happen to pay cash inside one month you’ll get 1% reward as cashback.
This card is launched by Uniorbit Applied sciences in affiliation with RBL Financial institution and State Financial institution of Mauritius (SBM) and Liquiloans and it’s powered by Visa.
How Uni Pay 1/3 card work?
Suppose you employ a Uni Pay card for procuring and your month-to-month invoice is Rs.45000. You may make full fee of this invoice, however in case you are operating out of money you possibly can go for deferment. You’ll be able to divide your expense into 1/3 (three elements) and pay Rs.15000 each month.
This card comes with a credit score restrict similar to bank cards. Your credit score restrict is set based mostly in your credit score rating. Your credit score restrict is readjusted each month based mostly in your dues. This implies if you happen to go for the 1/3 fee possibility, your credit score restrict for the subsequent month can be decreased as much as your unpaid due quantity. As you retain clearing your month-to-month payments, your credit score restrict can be restored again.
This card is issued with none charges. Sure, it’s a fully free card with none phrases and circumstances. The one charge it’s a must to pay is a late charge in case you miss the fee.
Uni Card Options
Spend Now pay later in elements
From groceries, utility payments, medicines, garments to another expense – you can also make use of Uni card anyplace on-line and offline and go for the pay later possibility.
Uni card means that you can spend now based mostly in your credit score restrict and you may clear your dues in elements throughout three months with none curiosity. This implies you’ve the pliability to pay again with out paying something additional.
Cashback
Like all different bank cards, Uni card additionally provides cashback. 1% cashback is obtainable by this card. This cashback is given provided that you select to clear your dues inside 30 days.
Break up into longer EMI
In case you’ve a money crunch you possibly can cut up your buy into longer EMI. Uni card provides an extended EMI possibility. You’ll be able to choose inexpensive EMI starting from 6 to 18 months’ timeframe.
No Becoming a member of Payment
Uni card is a free card with none hidden expenses. You’ll be able to apply utilizing an app and luxuriate in its profit freed from price.
You needn’t pay any becoming a member of charges. No annual upkeep expenses are relevant for the early clients.
A reimbursement assure
Uni Pay claims that it provides 100% clear providers. Nothing is hidden from the shopper. 100% cash can be returned in case any charge or cost is utilized with out buyer information.
Safety
Uni Pay card provides utterly secured transactions. Whole information trade occurs in a safe means all the things is encrypted and nobody has entry to buyer information.
Uni Pay Advantages
- Purchase now and pay later in EMI plans.
- Convert your spending into three elements and improve your liquidity.
- You will get 1% reward if you pay full quantity in a month.
- Choice to set card restrict for on-line and offline transactions.
- Invoice reminder facility for due funds.
- One click on card lock facility.
Charges and Prices
Becoming a member of Payment – NIL
Annual Upkeep Payment – NIL
Carry ahead charge – As much as 5.5%
Curiosity on revolving quantity – Late Charges as per totally different slabs
Uni Card Late Fee Slab
| Late Fee Payment | Excellent Quantity |
| Zero | Between INR 1 to INR 250 |
| INR 25 | Between INR 251 to INR 1000 |
| INR 100 | Between INR 1001 to INR 2500 |
| INR 250 | Between INR 2501 to INR 5000 |
| INR 500 | Between INR 5001 to INR 10000 |
| INR 1000 | Between INR 10001 to INR 20000 |
| INR 1500 | Between INR 20001 to INR 30000 |
| INR 2000 | Between INR 30001 to INR 40000 |
| INR 2500 | Between INR 40001 to INR 50000 |
| INR 3500 | Between INR 50001 to INR 75000 |
| INR 5000 | Between INR 75001 to INR 100000 |
| INR 7500 | Between INR 100001 to INR 200000 |
| INR 10000 | Between INR 200001 to INR 1000000 |
Uni Pay 1/3 Card Evaluation
Uni Pay 1/3 Card is a novel card that gives a number of advantages and the very best half is you possibly can divide your fee into three elements. Moreover, it provides a number of different advantages together with cashback and rewards. If we evaluate Uni card towards bank cards it scores extra towards bank cards.
Comparability of Uni Card with different bank cards
Professionals
- Life-time free card.
- Pay later facility helpful for emergency and high-value transactions.
- No Curiosity fee solely late charge expenses.
- 1% Cashback facility for clearing whole due in a single month.
- 24×7 buyer help linked by way of WhatsApp, name, and electronic mail.
- Prompt digital card situation utilizing App.
Cons
- The late charge is greater in comparison with different bank cards.
- Uni card can be utilized domestically. You can’t use it for worldwide transactions.
- Uni card can’t be used for money withdrawal-like different bank cards.
- You can’t reload this card as a pockets/pay as you go card.
Do you have to go for Uni Pay 1/3 Card?
profitable advantages and no curiosity charge as much as 3 months of Uni card, you should be excited to go for this card. ,
Nevertheless, you need to go for this card provided that you possibly can management your bills and clear your dues on time. In any other case you could find yourself in debt entice. The late charges relevant on this card could be very excessive in comparison with bank cards.
E.g For those who default on Uni Card above 3 months and your due quantity is Rs.50000 it’s essential pay Rs.3500 as a late fee charge. Alternatively, in case you have defaulted on ICICI bank card late charge relevant is Rs.750. This implies the catch level on this card is late charges. This implies curiosity expenses of bank card are coated underneath late charges.
I can say that Uni Pay 1/3 Card is an excellent possibility for brand new bank card clients that aren’t eligible for conventional bank cards resulting from low wage or revenue. This card can also be appropriate for emergency utilization.
In case you go for this card it’s essential be cautious about overspending and clearing your dues in time.
The way to apply for Uni Card by way of Uni App?
The method of making use of for Uni card by way of app is tremendous simple. You will get an prompt card inside 5 minutes. The complete KYC course of is finished by way of Aadhaar and Selfie.
- Obtain and set up Uni playing cards app from Play retailer (Obtain Uni playing cards APK) for Android customers or Apple App Retailer for iPhone customers.
- Enter your cell quantity which is linked together with your Aadhaar.
- On profitable cell verification, you can begin an Eligibility test.
- As soon as this test is accomplished it’s essential enter PAN and identify and DOB as per PAN card.
- Subsequent is the number of employment sort. Now it is possible for you to to see credit score rating and credit score restrict on display screen.
- Now full your e-KYC utilizing Aadhaar and Selfie.
- You’re going to get prompt approval on the app with the issuance of a digital card.
- Bodily card supply can be performed inside 2-3 days.
Uni Card FAQ
Who’s Eligible to Apply for Uni Card?
To use for Uni Card you need to be a resident of India aged above 18 years. Your credit score rating must be within the acceptable vary.
The way to attain Uni Card Buyer care?
The client care variety of the UNI Card is 08068216821. You can too attain Uni Card by way of WhatsApp.
What’s the validity of Uni card?
The validity of Uni card is limitless. It’s a lifetime free card. Nevertheless, if you happen to don’t use this card for six months it is going to be frozen.
What’s the credit score restrict that I can avail by way of Uni Pay Card?
The credit score restrict of this card varies from Rs.20000 to six Lakh. Nevertheless, your credit score restrict can be based mostly in your credit score rating.
I’m NRI, can I apply for this card?
No, NRI just isn’t allowed to use for this card. It’s important to be an Indian resident to use for this card.
Last Ideas
As per me, Uni Pay 1/3 card is a novel and highly effective card that comes with a fee deferment profit to save lots of you from a brief money crunch. Nevertheless, in case you are a premium section buyer and already utilizing a bank card with a number of rewards and advantages you could not discover this card price holding.
Did you employ Uni Pay Card for fee? Are you able to share your expertise of utilizing this card within the remark part given beneath?
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