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Utkarsh Small Finance Bank SmartGen Credit Card

SmartGen Credit Card is an entry-level offering from the Utkarsh Small Finance Bank. The card is available in both secured and unsecured card options. Utkarsh SmartGen Credit Card is free for the first year; however, it has an annual fee of ₹199 + taxes from the second year onwards. The card offers a cashback of 1%  on all eligible spends. The card is an excellent option for individuals looking to begin their credit journey, as it comes with an affordable fee of ₹199 and can be backed by a fixed deposit. The secured option for the card has a low interest rate as compared to the unsecured version, which is up to 3.6% per month (43.2% annually) for the unsecured variant, and for credit cards backed by FD, it is 2.5% per month (30% annually).

Utkarsh Small Finance Bank SmartGen Credit Card

( 4.3 / 5 )
Utkarsh SmartGen Credit Card
  • Joining FeeN/A
  • Annual Fee₹199 + GST
  • Best Suited ForShopping
  • Reward TypeCashback

Rewards Rate

1% Cashback on Eligible Spends

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

1% Cashback on Eligible Spends

Reward Redemption

Cashback to be Adjusted Against Upcoming Billing Statement

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

N/A

  • Spend-Based Waiver

    Renewal Fee is Waived if ₹50,000 is Spent in the Previous Year

    Rewards Redemption Fee

    N/A

    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

    • 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

    • 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.

  • Fee Structure of the Utkarsh SmartGen Credit Card

    The card is offered as a first-year free credit card, and from the second year onwards, ₹199 + GST is charged as the annual fee for holding the card. The annual fee can be waived if the user has spent ₹50,000 or more. However, there are no welcome or annual benefits offered with the card.

    Cashback With Utkarsh SmartGen Credit Card

    The card allows users to earn cashback at a uniform rate of 1% on all eligible purchases. However, categories like wallet recharge, financial institutions, government services, charities, foreign currency purchases, insurance, railways, and more are not eligible for cashback. The cashback thus accumulated will be applied to the cardholder’s upcoming billing statement.

    Eligibility Criteria and Documents Required

    Since the card is only for existing customers with the bank, there are no additional documents required; however, to be able to get the card, you should be an Indian resident between the ages of 21 and 65 years. You should have either of the following accounts with the bank to qualify as an existing customer –

    • Current Account
    • Savings Account
    • FD Account
    • Loan Account

    Bottom Line

    The SmartGen Credit Card from the Utkarsh Small Finance Bank is best for young professionals, students, or first-time credit card users as it offers a low annual fee, making it an ideal choice for people who are starting a fresh credit journey and prefer a manageable spending limit. The card has straightforward specs if you are new to the credit card ecosystem, with a flat 1% cashback return on all of the customer’s qualifying spends. The bank is only offering the credit card to its existing customers, and the eligible customers shall receive a pre-approved link on their registered email address. However, the lack of lifestyle perks somewhat diminishes the card’s appeal.

    FAQs:

    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).

    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.

    Yes, if you spend at least ₹50,000 in a year, the annual fee for the next year will be waived.

    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.

    1 comment

    • Anshika

      4 months ago Reply

      Smartgen card chahiye

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