Utkarsh Small Finance Bank SmartGen Credit Card
- Annual fee
₹199 + GST
- Best suited for
Shopping
- Reward type
Cashback
Rewards
- Rewards rate
1% Cashback on Eligible Spends
- Reward redemption
Cashback to be Adjusted Against Upcoming Billing Statement
Fees & charges
- Spend-based waiver
Renewal Fee is Waived if ₹50,000 is Spent in the Previous Year
- Foreign currency markup
3%
- Interest rates
Up to 3.6% Per Month (43.2% Annual Percentage Rate); 2.5% Per Month (30% annually) Against FD
- Fuel surcharge waiver
1%
- Cash advance charges
5% or ₹500, Whichever is Higher
Product highlights
- Allows users to earn a flat 1% cashback on eligible spends.
- The annual fee is waived on spending ₹50,000 in an anniversary year.
- The card has a low annual fee of ₹199 from the second year onwards.
Pros & cons
Pros
- There is no joining fee; the card is a First-Year Free product.
- The card is also available against a Fixed Deposit.
Cons
- No airport lounge access, domestic or international.
- No accelerated rewards program.
FAQs
What is the interest rate on the card?
The interest rate for an unsecured Utkarsh SmartGen Credit Card is up to 3.6% per month (43.2% annually), and for credit cards backed by FD, it is 2.5% per month (30% annually).
How do I apply for the card?
If eligible, customers will receive a pre-approved link at their email address; however, if you are an existing customer and want to inquire about the card, you can try contacting the bank.
Is there a fee waiver for the annual fee of the card?
Yes, if you spend at least ₹50,000 in a year, the annual fee for the next year will be waived.
What categories are excluded from earning cashback?
Wallet recharges, payments to financial institutions, government services, charities, foreign currency purchases, insurance, railway, mutual funds, education, transport, fuel, and utility payments are excluded from earning cashback.