MAKING PAYMENTS

Please make payments to the ‘Account Number’ allocated to your Union Bank Credit card. This is available on the Credit card statement.

You may make payments using the following methods:

• Cash deposit over the counter at any Union Bank branch
• Fund transfer method using Union Bank Mobile Banking application
• Bank to Bank transfer via any other bank Internet Banking and Mobile Banking (Use fund transfer option and not credit card payment option)

Interest free grace period

Any transaction billed in a given statement will not attract interest within the same statement period. Maximum interest free credit period is 51 days.

Minimum due/payment amount computation

‘Minimum Due Amount’ is calculated with 100% of Government taxes/charges and 4% of all other transactions and charges. The minimum mandated limit for minimum due amount is Rs.500/-. If the ‘Total Due Amount’ is less than this minimum mandated amount, the total amount would be demanded in full as the minimum payment.

If the Cardholder has any past dues, such would get added to the current total Minimum Due Amount.

Please be advised that your account may be categorized as delinquent in the event the Minimum Due Amount is not paid by the Payment Due Date. This may also have an adverse effect on your credit rating and result in negative information being passed to the Credit Information Bureau (CRIB).

Late Payment Fee

Gold / Platinum Credit Cards – Rs.750/-
Signature Cards – Free (Please refer Tariff)

Late Payment Fee will be charged if at least the Minimum Due Amount is not received on or before the Payment Due Date.

Late Payment Fee is levied in addition to interest and is charged at the following instances:

• No payment received between the statement generated date and due date.
• The payment received is less than the minimum due amount (5% of the total outstanding)

Over Limit Fee

Rs.750/- flat fee charged on all card types. (Please refer Tariff)

Over limit fee is charged if the allowed credit limit has been exceeded by the Cardholder.