Utksin SCC Kfs 2024 Nov 12
Utksin SCC Kfs 2024 Nov 12
Utksin SCC Kfs 2024 Nov 12
The terms and conditions contained here pertain to superCard as issued by Utkarsh Small Finance
Bank Limited (“Bank”), and its Co-brand Partner Scapic Innovations Private Limited (“Super.Money”)
This Key Fact Statement (KFS) is to be read along with the Cardholder Agreement and the Most
Important Terms & Conditions (MITC) for complete understanding.
Cash Advance Fee On Domestic Cash advance 5% or Rs. 25, whichever is higher
On International Cash advance 5% or Rs. 500, whichever is higher
Card Fee Rs 299, applicable only if you apply for a physical credit card
Credit Limit
Up to 90% of the Fixed Deposit (FDs) will be assigned as credit limit of
credit card
Deposits
Bank places a lien on any FDs being booked including renewals thereof,
as a security for the credit card being issued. The Bank is fully
authorised to liquidate the FD without any cause or notice to cardholders
and appropriate the proceeds towards the outstanding on the credit card
Key Terms
Credit Limit For cardholders who have availed the Card Against a Fixed Deposit, credit limit
is 90% of the fixed deposit created. Bank reviews all accounts periodically and
reserves the right to decrease the credit limit based on any transaction
patterns, repayment behaviour and other internal criteria. This will be informed
to cardholders via the App and/or via email and SMS.
Available Limits “Available Credit Limit” or “Available Cash Limit” is the limit up to which
cardholders can make purchases or withdraw cash from an ATM respectively.
Please note that the cash limit is a part of the overall Credit Limit assigned
however unavailable to cardholders for the time being.
1
Interest Free The payment due date on this credit card is 15 days after the statement date
Period (the day when your statement is generated). Please note that this facility of an
interest free period is not available in case the previous month’s outstanding
amount has not been paid in entirety. For example, for a statement for the
period 5th April to 4th May, the payment due date is 20th May. Assuming
previous month’s dues have been paid in full, the interest free period is as
follows
- For any purchases dated 5th April, interest free period is from 5th
April to 20th May = 45 days
- For any purchases dated 4th May, interest free period is from 3rd
May to 20th May = 15 days
Interest Rate Interest rate of 3% per month is applicable to all cardholders on their unpaid
dues, and on any cash advance transactions from the date of transactions.
Interest rates are subject to changes made by the Bank from time to time.
All cash advances will also be subject to interest charges from the date of
withdrawal until the date of full payment.
Forex Markup Fee For any transactions in foreign currency, the transaction amount is first
converted to Indian Rupees (INR) on the settlement date (this date can be
different from the transaction date). The forex markup fee is then levied on the
converted INR value. The fee is also levied in case of any INR transaction done
at a merchant or payment gateway that is based outside India.
Late Payment Fee A late payment fee is charged in case no payment or a payment less than the
Minimum Amount Due is received by the Payment Due Date.
Card Fee This fee is billed in case the cardholder requests for a physical card, including
any replacements
Taxes 18% Goods and Service Tax is applicable on Fees, Interest and other charges
Billing statements Billing statements will be generated every month on the 1st and can be
modified once as per cardholder’s convenience. Cardholders can view /
download the statements from the app at any point.
Minimum Amount Cardholders can choose to pay the Total Amount Due (TAD) or the Minimum
Due Amount Due (MAD) as per the statement. The remaining balance can be carried
forward to subsequent months. This Minimum Amount Due is the sum of the
following:
(a) 5% of the outstanding amount and;
(b) Previous unpaid minimum amount dues, if any; and;
(c) Entire amount of instalments (EMI) due, if any
(d) 100% of any fees, interest, charges and taxes
For any statement cycle, if TAD is less than Rs 100, then TAD = MAD.
Refunds/Chargeba Cardholders must pay for the transactions billed in the statement to avoid any
cks additional charges being levied. Any refunds, chargebacks received after the
statement generation are automatically adjusted and shown in the app
2
Method of payment Payments should be made before Payment Due Date to avoid Late Payment
Charges. Cardholders can pay the outstanding dues from the app itself, through
the following modes:
(a) UPI payments from any virtual payment account added to the app.
(b) Net Banking
Billing disputes All the contents of the statement will be deemed to be correct and accepted if
resolution the Bank is not informed of any discrepancies within 30 days of the statement
date. In the event of billing disputes/discrepancies, the Bank shall investigate
and confirm the liability for such transactions. For certain disputes, Bank may
offer a temporary credit during the period of investigation, which may be
reversed along with applicable charges subject to the outcome of the
investigation.
Refund of credit In case there is a credit balance/excess amount lying in the account due to
balance/excess additional repayment or a refund, this amount can be adjusted against future
amount pending dues or it can be refunded as per cardholder’s request. No interest will
be payable on any credit balance/excess amount lying in the cardholder’s
account.
Fixed Deposits ● Any interest on the amount funded online is subject to the successful
setup of the Fixed Deposit account and only from the date of
successful payment.
● Bank reserves the right to recover the dues on card if it is not paid
within 60 DPD (Days Past Due) or when the total outstanding including
accrued interest and fees reaches 100% of the Fixed Deposit amount,
whichever is earlier
● Any balance remaining after the above due adjustment shall be
refunded to you.
Email ID [email protected]
Call-Centre Phone 1800-309-7986 (all calls to/from call centre may be recorded)
Number
Grievance Redressal In the event you are not satisfied with our responses to your inquiries, our
handling of any of your service requests or complaints, you may write to
our grievance department the details of which may be accessed at:
https://www.utkarsh.bank
Banking Ombudsman If the issue remains unresolved beyond 30 days even after reaching out to the
above channels, or if the response is unsatisfactory, you may write to the
Banking Ombudsman for an independent review. Details of the Banking
3
Ombudsman Scheme are available on the Reserve Bank of India (RBI)
website at https://www.rbi.org.in/