Table of Contents
What is BharatPe card?
BharatPe card is a Co-branded Card issued by SBM Bank (India) in partnership with BharatPe. A unique card which allows you to use Credit and Debit balances through a single card. You can withdraw the tollowing using BharatPe Card:
- Credit line of upto 1 Lakh (if eligible – see credit on card FAQs)
- BharatPe Balance On completion of successful onboarding, you are assigned a virtual card which can be used to pay online across millions of websites. Also, you can order a physical card (depending on eligibility) to pay at oftline stores or to withdraw cash from ATMs. The card is powered by VISA / MASTERCARD
How can I become eligibile for BharatPe card?
On successful completion of onboarding including KYC, you are assigned a virtual card You can avail a physical card (free of cost) if:
if you have done at least 5 transactions on your Virtual Card of min INR 200 each Or
if you are eligible for credit on card What are the benefits of BharatPe card?
Use your BharatPe Card to spend at any online website, shop or ATM sately and conveniently and getUpto 35 days of interest free credit*
Exclusive discounts on various brands Special cashback offers run by BharatPe Additional benefits for BP Club members
*on timely bill payment and eligibility
How do I see my virtual card?
Go to BharatPe app -> Banking –> Cards –> Swipe right and enter your device authentication to see the details
When willl I get my physical card?
You will get your physical card on your delivery address in our records within 7-10 days
When willl I get my physical card?
You will get your physical card on your delivery address in our records within 7-10 days
How can I change my PIN?
If you have forgotten your PIN or think that your PIN has been compromised, you can
change your PIN by following these steps:
- Click on BharatPe Card Icon
- Go to Settings on the card homepage and click on Reset PIN
- Set the new PIN and confirm using the OTP sent on your registered mobile number Do not share your PIN with anyone. If you believe your PIN has been compromised please change your PIN immediately and inform BharatPe Merchant Support.
What type of account to choose at the
time of ATM withdrawal?
Please choose Savings A/c while withdrawing money from your BharatPe card.
Can I use my BharatPe card for
international payments?
No, BharatPe card can only be used in India for payments in INR.
How do I choose between Debit on
card and Credit on card?
Go to BharatPe app –> Banking -> Cards> switch to Debit on Card / Credit on Card depending on which balance you want to use and are eligible for credit card
What is credit on card?
BharatPe offers a credit line of upto INR 1,00,000 in partnership with a registered NBC partner. You can use up to 30 days of Interest free credit through your BharatPe card to shop online or spend at any store where credit card is accepted. Credit on card balance cant be used for ATM withdrawal
How can l avail credit on my card?
If you already have a BharatPe card and want credit on card facility, go to the BharatPe app> BharatPe Card icon and check your eligibility by mentioning PAN Number and PIN Code. If ou’re eligible for a credit line, the offer will be visible to you on the BharatPe App, as provided by the NBFC partner. It you are ineligible, you can check your eligibility again after 30 days.
How willI get my BharatPe card
statement?
You willl receive your BharatPe Card statement on 1st of every month through whatsapp
When do l have to repay my credit
line?
The billing cycle is from 1st of the month to 31st of the month. This means that for all transactions done between 1st-31st of any month, a bill will be generated on the 1st of the next month. For example, it a transaction is done on 02 April 2021, the bill will be generated on 01 May 2021. If a transaction is
done on 20 April 2021, the bill will still be generated on 01 May 2021. Each bill will be due on 5th of every month (inclusive). This means that you are required to pay the minimum amount due (MAD) mentioned on your bill by the 5th of every month. For example, if a bill of Rs.10,000 is generated on 01 April 2021, merchants have to pay at least 10% (Rs. 1,000) by the end of day 05 April, 2021 to avoid levy of penal interest.
What are the different Balances/Due amounts with respect to credit on
card?
Minimum Amount Due (MAD) is the lowest amount you are required to pay to avoid default on your card. This is 10% of the outstanding bill amount and will be mentioned on your bill. Total Amount Due is the total credit limit that you have used during the billing cycle, including any charges as applicable. Total Payable Amount is, at any given time, the “limit used + Charges [overdue interest + penal interest + ATM charges+any other harges as applicable]”. Negative Balance is the extra payment made against credit on card Total Used Amount is, at any given time, total amount used from the assigned credit limit.
How do I see my bill details or credit
usage?
Go to BharatPe -> Banking –> Cards. In the Card section, you will get a view of your transaction and billing history.
What happens if I fail to repay on
time?
If you fail to pay the Minimum Amount Due (MAD) by the due date: MAD is auto-deducted from either QR settlement/ Investment A/c balance or BharatSwipe balance.Penal interest of 5% will be charged on the Total Amount Due along with overdue interest of 0.1% per day from the date of bill generation(ist) .Your credit history may be impactedWhen you have paid the MAD but not the Total
Amount Due (TAD), an overdue interest of 0.1% per day shall be levied from the bill generation
date (1st) on the balance amount until your TAD is fully cleared. This interest shall also be
charged on new transactions done post the bill generation from the day of such transactions.
If you pay the Total Amount Due (TAD) before the due date and you do not have any past
carry forwards, no interest will be charged. For details, refer to fees & charges section.
What are the different Balances/Due
amounts with respect to credit on
card?
Minimum Amount Due (MAD) is the lowest amount you are required to pay to avoid default on yourcard. This is 10% of the outstanding bill amount and will be mentioned on your bill. TotalAmount Due is the total credit limit that you have used during the billing cycle, including any charges as applicable. Total Payable Amount is, at any given time, the “limit used + Charges [overdue interest + penal interest + ATM charges+any other harges as applicable]”. Negative Balance is the extra payment made against credit on card Total Used Amount is, at any given time, total amount used from the assigned credit limit.
How do I see my bill details or credit
usage?
Go to BharatPe -> Banking –> Cards. In the
Card section, you will get a view of your
transaction and billing history.
What happens if I fail to repay on
time?
If you fail to pay the Minimum Amount Due (MAD) by the due date: MAD is auto-deducted from either QR settlement/ Investment A/c balance or BharatSwipe balance .Penal interest of 5% will be charged on the Total Amount Due along with overdue interest of 0.1% per day fromthe date of bill generation(ist) .Your credit history may be impactedWhen you have paid the MAD but not the Total
Amount Due (TAD), an overdue interest of 0.1%per day shall be levied from the bill generation
date (1st) on the balance amount until your TAD is fully cleared. This interest shall also be
charged on new transactions done post the bill generation from the day of such transactions.If you pay the Total Amount Due (TAD) beforethe due date and you do not have any past carry forwards, no interest will be charged. For details, refer to fees & charges section
Are there any extra charges on early
repayment?
There are no charges on early repayment.
Will my credit on card limit reflect in
my credit bureau?
Yes, this is a credit product and the lender will update all credit bureaus about the loan facility provided and its associated activity (utilization, repayment, defaults etc)
Will my BharatPe card (issued by SBM
bank) reflect in the credit bureau?
BharatPe card is a zero balance credit card and would be reported by Bank as zero outstanding to the bureau.