Benefits of the Union Bank Insta Credit Card

• Financial Flexibility with Interest-Free Period: The interest-free credit period of 20 to 50 days is a significant benefit, allowing cardholders to make purchases without incurring interest if the balance is paid in full by the due date. This is ideal for managing cash flow, especially for salaried individuals or small business owners needing to bridge short-term expenses.
• Rewarding Everyday Spending: The card’s reward points program offers 4 points per ₹100 spent on shopping, dining, groceries, and apparel, and 2 points on other categories. Points can be redeemed for vouchers, merchandise, travel bookings, or statement credits, making it especially rewarding for lifestyle-based spending.
• Cashback on Specific Transactions: Offers cashback of up to ₹50/month on utility bill payments and mobile wallet transfers (minimum ₹500), and ₹25 on IRCTC bookings (minimum ₹300), adding up to ₹1,200 annually.

How to Apply for the Union Bank Insta Credit Card

• Online Application Process:
  • Visit the official Union Bank website at www.unionbankofindia.co.in or use the Union Credit Card portal.
  • Navigate to the ‘Credit Cards’ section and select the Insta Credit Card.
  • Fill out the online application form with personal details, employment information, and income.
  • Ensure your mobile number is linked with Aadhaar for OTP verification.
  • Upload scanned copies of required documents directly on the portal.
  • Instant approval is possible; if eligible, card dispatch occurs within 7-10 working days.
• Offline Application at a Branch:
  • Visit the nearest Union Bank branch and request the Insta Credit Card application form.
  • Alternatively, download the form from the official website and submit it in person.
  • Fill out the form accurately with all required details and attach self-attested documents.
  • Submit the application and documents to the bank official for processing.
  • Processing time is generally 7-10 working days.
• Application via Net Banking:
  • Log in to Union Bank net banking using your customer ID and password.
  • Go to the ‘Credit Cards’ section and select the Insta Credit Card.
  • Some details are pre-filled; complete the rest and upload documents as required.
  • Submit your application for faster processing through existing account data.
• Secured Card Application Against Fixed Deposit:
  • Visit a Union Bank branch and open a fixed deposit (minimum ₹25,000 typically).
  • Request the Insta Credit Card against the fixed deposit; credit limit is 75% of the deposit.
  • Submit minimal documents such as identity and address proof.
  • This option bypasses credit checks, ideal for first-time applicants or those with low credit scores.
  • Card issuance usually takes 7 working days.
• Activating the Card Post-Approval:
  • Activate your card by sending an SMS from your registered mobile number or calling the toll-free helpline.
  • Generate your PIN via the Union Credit Card App, web portal, or at a Union Bank ATM using OTP.
  • Activation is necessary before making transactions.
• Checking Application Status:
  • Track your application by calling the toll-free numbers or emailing customer support.
  • Alternatively, log in to the Union Credit Card portal with your application reference number.
  • If applied offline, inquire at the branch where you submitted the application.
• Tips for a Successful Application:
  • Provide accurate details matching your documents.
  • Maintain a good credit score (700+ recommended).
  • Avoid applying for multiple credit cards simultaneously.
  • Salaried applicants should submit recent salary slips and Form 16.
  • Self-employed applicants must provide 2 years of ITRs and computation sheets.
• Handling Rejections and Reapplying:
  • Address reasons for rejection like low credit score or insufficient income before reapplying.
  • Consider secured cards if standard credit cards are declined.
  • Wait 3-6 months before reapplying to avoid negative impact on credit score.
• Special Considerations for NRIs:
  • NRIs must provide additional documents such as passport and valid visa.
  • Applications may require branch visits or authorized representatives in India.
• Corporate Card Application:
  • Companies can apply for corporate Insta Credit Cards with board resolutions.
  • Submit company financials and authorized signatories' details.
• Digital Verification and Aadhaar Integration:
  • Aadhaar-based e-KYC enables instant verification for online applications.
  • Ensure mobile number is linked to Aadhaar for OTP authentication.
  • Manual document submission required if Aadhaar is not linked.
• Post-Application Support:
  • Respond promptly to calls for additional verification or document clarification.
  • Receive confirmation and card delivery updates via SMS or email.
• Managing Expectations for Processing Time:
  • Online pre-approval may take minutes, with final approval in 1-2 days.
  • Offline applications typically take 7-10 working days.
• Application for Add-On Cards:
  • Include family members’ details during the primary application or apply separately post-approval.
  • Add-on cardholders must be 18 or older and provide identity proof.
• Fees Associated with Application:
  • No joining fee is usually charged for the Insta Credit Card.
  • Annual fee is ₹499, often waived on ₹50,000 annual spends.
  • Confirm other charges like cash advance fees during application.
• Ensuring Data Privacy:
  • Union Bank uses encrypted online forms and secure uploads.
  • Apply only through official channels to avoid fraud.

Eligibility Criteria for Union Bank Insta Credit Card

• Age Requirements:
  • Primary Cardholder: Must be between 21 and 70 years old at the time of application.
  • Add-On Cardholder: Must be at least 18 years old.
  • This ensures legal capacity and sufficient financial maturity to manage credit responsibly.
• Income Requirements:
  • Salaried Individuals: Minimum annual income typically ₹1.8 lakh (~₹15,000 monthly), may vary by card variant.
  • Self-Employed Individuals: Minimum annual income ₹2.5 lakh, supported by two years of Income Tax Returns (ITRs) with computation sheets.
  • Income is assessed to determine credit limit and repayment capacity.
• Credit Score and History:
  • Preferred credit score above 700 for eligibility.
  • History of timely payments strengthens application; defaults or late payments may cause rejection.
  • New-to-credit applicants may opt for secured card against fixed deposit without credit score requirement.
• Nationality and Residency:
  • Applicants must be Indian citizens.
  • NRIs can apply with additional documents like passport and visa, may need branch application.
  • Ensures RBI compliance and simplifies verification.
• Employment Status:
  • Applicants must be salaried or self-employed with stable income.
  • Salaried: Provide recent salary slips and Form 16.
  • Self-employed: Provide ITRs and business financials.
  • Preferably at least 1 year employment or 2 years business stability.
• Educational Qualifications:
  • Not mandatory, but higher qualifications (e.g., postgraduate degree) may positively influence eligibility.
  • Especially relevant for self-employed professionals.
• Prior Relationship with Union Bank:
  • Existing customers with good standing accounts or loans have higher approval chances.
  • Significant fixed deposits or housing loans above ₹10 lakh may get preferential treatment.
• Secured Card Eligibility:
  • Open a fixed deposit with Union Bank (minimum ₹25,000) to qualify without income or credit score requirements.
  • Credit limit is 75% of the deposit amount.
  • Accessible to students, retirees, low-income individuals.
• Credit Utilization and Debt Levels:
  • High outstanding debt or credit utilization above 30% can reduce eligibility.
  • Low debt-to-income ratio and responsible credit usage improve chances.
• No Recent Credit Rejections:
  • Multiple recent credit inquiries or rejections lower chances.
  • Avoid multiple applications simultaneously; wait 3-6 months after rejection before reapplying.
• Aadhaar Linkage:
  • Required for online applications to enable e-KYC and OTP verification.
  • Preferred for instant approvals, though not mandatory for offline applications.
• Corporate Card Eligibility:
  • Applicant must be authorized company representative with board resolution.
  • Company financials and credit history are evaluated.
• Stable Residential Address:
  • Verified through Aadhaar, passport, or utility bills.
  • Frequent address changes or lack of valid proof can reduce eligibility.
• No History of Defaults:
  • Applicants with no payment defaults on loans or credit cards in last 7 years preferred.
  • Clear dues and maintain timely payments for 6-12 months before applying.
• Minimum Work Experience:
  • Salaried: Minimum 1 year continuous employment.
  • Self-employed: Minimum 2 years in current business or profession.
• Financial Documentation:
  • Complete and consistent submission of salary slips, Form 16, ITRs, etc. is required.
  • Incomplete documentation can lead to rejection.
• Credit Limit Expectations:
  • Credit limit requested should align with income and credit profile.
  • Unrealistic limits may cause rejection.
• Compliance with Bank Policies:
  • Final decision subject to internal policies, economic conditions, and card variant rules.
  • Applicants should verify specifics with customer care or bank website.
• Add-On Card Eligibility:
  • Primary cardholder must meet all criteria.
  • Add-on cardholder must be 18+ with valid ID.
  • Add-on card shares primary card’s limit and profile.
• Special Considerations for NRIs:
  • Additional documents like passport, visa, overseas address proof required.
  • May need branch application.
  • Higher income threshold (e.g., ₹5 lakh annually) may apply.