The Union Bank of India VISA Signature Credit Card is a premium credit card that offers a range of exclusive benefits and services to enhance your lifestyle, both in India and abroad. This card is equipped with EMV chip and PIN technology, providing enhanced security for your transactions.
With the Union Bank of India VISA Signature Credit Card, you can enjoy unparalleled privileges and rewards. The card offers a host of features and benefits tailored to suit your preferences. Whether you’re shopping, dining, traveling, or indulging in other lifestyle activities, this credit card provides you with exceptional experiences and convenience.
The card is designed to comply with RBI guidelines and offers transactional security through its CHIP+PIN security solution. This ensures that your card transactions are safe and protected from counterfeiting and skimming.
For more detailed information about the features, facilities, and guidelines of card usage, you can refer to the welcome kit provided with the Union Bank of India VISA Signature Credit Card.
Please note that the details provided here are a general overview, and it is recommended to refer to the official documentation and terms and conditions of the credit card for complete and accurate information.
Benefits and Features of Union Bank of India VISA Signature Credit Card
Interest-Free Credit:
Enjoy a flexible interest-free credit period of 21 to 50 days on your purchases, allowing you to manage your payments according to your convenience. You have the option to pay the total outstanding amount, the minimum amount due, or any other amount higher than the minimum amount due.
Fuel Surcharge Reimbursement:
Get reimbursed for fuel surcharges at a rate of 1% of the amount spent on fuel purchases, up to a maximum of ₹100 per card per month.
Accidental Insurance Coverage:
As a main cardholder, you have the option to avail group personal accident insurance coverage of up to ₹30 lakh. The insurance premium may vary over time.
Airport Lounge Access & Concierge Services:
Enjoy access to select airport lounges in India, providing you with a comfortable and relaxing environment during your travels. Additionally, benefit from VISA’s concierge services, available 24/7, to assist you with travel, hospitality, and emergency cash assistance.
Wider Acceptance:
The Union Bank of India VISA Signature Credit Card is widely accepted, with over 9 lakh merchants in India and over 29 million merchants worldwide where you can use your card for transactions.
Lost Card Liability:
In case of loss or theft of your credit card, promptly report it to our 24-Hour Customer Care at 1800 425 1515 (Toll-free). The card will be immediately blocked to prevent unauthorized transactions. Any fraudulent transactions up to ₹1.50 lakhs occurring after reporting the loss will be covered by the Bank.
Add-On Cards:
Extend the benefits of the Union Bank of India VISA Signature Credit Card to your family members (above 18 years old) by gifting them an add-on Signature Credit Card. The add-on card allows them to enjoy all the features and benefits applicable to the primary card, and the reward points earned on add-on cards will be combined with those of the primary card for redemption.
VISA Offers:
As a cardholder, you will be eligible for exclusive offers on shopping, hotel stays, car rentals, and more, provided by VISA. These offers are subject to change at the discretion of VISA, so please refer to the provided link for more details.
Please note that the information provided is a general overview, and it is advisable to refer to the official documentation and terms and conditions of the Union Bank of India VISA Signature Credit Card for complete and accurate details.
Types of Fees and Charges:
1. Admission Fee: Nil
2. Annual Subscription – Main Card: ₹1999/-
3. Annual Subscription – Add-on Card: ₹999/-
4. Annual Subscription Waived: First year and not levied if usage in the previous year is ₹2,70,000/- or above.
5. Roll Over Facility: 5%
6. Free Credit Period: 21 to 50 days, depending on the date of purchase
7. Accidental Insurance Coverage: ₹30,00,000/- for the card. Premium of ₹159.30/- (including GST) to be borne by the cardholder.
8. Lost Card Insurance: ₹1,50,000/-
9. Cash Advance Limit: 40% of the sanctioned limit
10. Add-on Card Charges: ₹300/-
11. Lost Card Charges: Nil
12. Lost Card Replacement Charges: ₹299/-
13. Charge Slip Request Charges: ₹200/-
14. Transactions Charges at Railways: 1.5% + IRCTC Charges
15. Surcharge on Fuel Purchase: 1% of fuel purchase transaction. Reimbursed up to a maximum of ₹100/- per card per month.
16. Foreign Currency Markup: 3%
17. Temporary Enhancement Charges per Occasion: ₹200/-
18. Hot Listing Charges: ₹200/-
19. Cash Withdrawal through Union Bank of India ATMs: 3% on the amount withdrawn or ₹200/- (whichever is higher)
20. Cash Withdrawal Charges Other Bank ATMs: ₹50/- in addition to 3% on the amount withdrawn or ₹200/- (whichever is higher)
21. Balance Enquiry in Union Bank of India ATMs: Nil
22. Balance Enquiry in Other Bank ATMs: ₹20/-
23. Interest on Cash Advance Charges: 2.5% per month
24. Service Charge on Revolving Credit Facility if MPD is Paid within Due Date: 2.5% p.m. or 34.49% Annualized Percentage Rate (wef November 2017)
25. Service Charge on Revolving Credit Facility if MPD is Not Paid within Due Date: 2.95% p.m. or 41.75% Annualized Percentage Rate
26. Over Limit Charges: 2.5% of the over limit amount, minimum ₹250/-
27. Duplicate Statement for >3 Months: ₹50/- per statement
28. Duplicate Physical PIN Mailer: ₹50/- per occasion
29. EMI Facility: EMI facility can be availed for 3/6/9/12 months, except for gold purchases, cash withdrawals, and fuel transactions
30. Processing Fee: 2%, minimum ₹200/- and maximum ₹1000/-
31. Rate of Interest: 16% per annum on reducing balances
32. Pre-closure Fee: 2% of the outstanding amount under EMI still not due
33. Late Payment Charges:
– Outstanding up to ₹25,000/-: ₹200/-
– Above ₹25,000/-: ₹500/-
Please note that the above charges are exclusive of taxes and are subject to change at the discretion of the bank without any prior notice. It is recommended to refer to the official documentation and terms and conditions provided by Union Bank of India for the most accurate and up-to-date information.
Eligibility:
• The Union Bank of India Visa Signature Credit Card is available to both customers and non-customers on a selective basis.
• The primary cardholder should be between 18 years and 60 years of age for salaried individuals and between 18 years and 65 years of age for professionals.
• Add-on cardholders should be 18 years and above.
• The minimum income eligibility is ₹10.00 lakh per annum.
• For business-class applicants, two years of income tax returns with computation sheets are required.
• For salaried-class applicants, Form 16 or income tax returns with the latest salary slip are required.
• Cards can also be issued against a lien on a fixed deposit with a 25% margin without the need for income proof or a scoring model.
Please note that the above eligibility criteria are indicative. The bank reserves the right to approve or decline credit card applications based on its discretion.
Documents to be submitted along with the application:
• Completed application form for the credit card with all necessary information.
• Two passport-sized color photographs.
• Latest income tax returns for the past two years, Form 16, or salary slips.
• Proof of address, ID proof, and PAN copy as per KYC norms.
It is important to submit all the required documents as specified by Union Bank of India to complete the credit card application process.
Frequently Asked Questions (FAQs) about Union Bank of India Visa Signature Credit Card:
1. What is the interest rate applicable to the Union Bank of India Visa Signature Credit Card?
– The interest rate is 16% per annum on reducing balances.
2. Is there a fee for late payment?
– Yes, for outstanding amounts up to ₹25,000, the late payment fee is ₹200. For outstanding amounts above ₹25,000, the late payment fee is ₹500.
3. Can I avail of the EMI facility for my card transactions?
– Yes, you can avail of the EMI facility for durations of 3, 6, 9, or 12 months, except for gold purchases, cash withdrawals, and fuel transactions. A processing fee of 2% of the transaction amount applies.
4. What is the cash withdrawal limit on the Union Bank of India Visa Signature Credit Card?
– You can withdraw up to 40% of the sanctioned credit limit as cash advance.
5. Does the card provide any insurance coverage?
– Yes, there is accidental insurance coverage of ₹30,00,000 for the cardholder, with a premium of ₹159.30 (including GST) borne by the cardholder.
Conclusion:
The Union Bank of India Visa Signature Credit Card offers a range of features and benefits to suit your lifestyle and preferences. With enhanced security features, interest-free credit periods, fuel surcharge reimbursement, airport lounge access, and a host of other privileges, this card aims to provide a convenient and rewarding experience for cardholders. It is important to review the fees and charges associated with the card, along with the eligibility criteria, before applying.
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