Frequently Asked Questions
- Who is eligible to apply for vCard
Anyone who is Salaried /Self Employed holding an Aadhaar card + PAN card and of age group 23 years to 55 years is eligible to apply
- What are the documents required to apply for vCard
Selfie based photo taken online and Aadhar card as ID/Address proof .It is essential that current address is same as mentioned on Aadhar
- How does UPI work and what are the charges
vCard allows payment to any UPI app - including BHIM, Bank Apps in addition to Google, Whatsapp, PhonePe, PayTM etc. You may scan the UPI QR or type the UPI ID to find the beneficiary.
There are no Charges for UPI transactions
- What is the Process to apply for vCard
You may initially check eligibility through https://app.vcard.ai/vmod/checkEligibility post eligibility approval you need to fill up the KYC details and then upload Aadhar as document -Once the application is approved you may start using the vCard instantly.
- What is the fee and the interest charges structure? Are there any hidden fee?
You will be charged a Finance Charge of Rs. 1.15 per 1000 or 0.115% per day and the amount payable is calculated accordingly monthly. The late fee shall not be collected for 5 days after bill generation however Rs.100 as Convenience charges will be levied.
- Minimum amount of 5% is payable, failing which the account goes Delinquent and also attracts late fees of 15%
- What is the Maximum Credit Limit I can get
The maximum eligible amount is Rs.60,000
- When will I receive my statement
Bill will be generated on the last day of every month
- Is there any Annual fee charges for vCard
There is no annual fee charged
- Is there any Possibility to enhance the Limit after certain period of usage
There is no possibility to enhance the amount at this point of time however will be accordingly communicated if the same is considered
- What are the various charges applicable on the Credit line
Other than Late fee and Interest, Convenience charge of Rs.100 will be charged on every month bill
- How can I generate my m-PIN
m-PIN can be generated after signing up in to vCard app with your registered mobile number
- How can I change /update my m-PIN
m-PIN can be changed at any time through vCard app, from Settings option in menu bar
- What is the option for bill Payment
Bill will be generated on the last day of every month and the same can be paid through Net Banking / eMandate
- How is the interest calculated on my account
You will be charged Finance Charges of Rs. 1.15 per 1000 or 0.115% per day and the amount payable is calculated accordingly and charged monthly.
- Where all can I use vCard ?
vCard with UPI can be used to encounter any kind of your financial requirements like
* At any Merchant establishments
* E-commerce Websites
* Transfer amount to self / other savings bank account instantly
- How my Credit Line dues are informed to me
You will be sent a billing statement detailing the transactions on vCard app well before the due date for payment of dues.
Billing information is also made available by email if you have registered with your email id.
You will also be informed by an SMS Alert about the billing amount and due date for payment of dues.