What is vCard?

vCard is an app-based personal credit line, offered in partnership with banks. The app lets you borrow any amount as per your requirement, ranging from Rs.3000 to Rs.5 lakhs, relying on your credit limit that is set by our banking partners. The app charges interest only the amount you use.

What banks are you partnered with?

We have partnered with several banks and Non Banking Financial Companies (NBFCs) to offer you the best services. We study your profile, choose the best bank or financial company that has the utmost probability of approving your credit application. After your application is approved, we disclose your issuer (Bank) to you.

How can I convert my credit to in-hand cash? How?

Yes. It is simple!

You can transfer your credit balance form the app to your bank account, withdraw from ATM and get in-hand cash. You can also transfer funds through NEFT/IMPS.

How much interest will I have to pay?

You have to pay interest only on the amount you use. During withdrawal, you can select the terms of repayment (Minimum: 2 months and Maximum: 3 years). Number of installments and the installment for EMI depends on the EMI tenure you opt.

The interest rate is same as the interest rates for any ‘personal loan’ with zero collateral or security. The interest you have to pay could be as low as 1.25% per month, it depends on your credit profile and the partner bank.

How can I use vCard for shopping?

In addition to the App, your issuer (bank) will deliver a vCard credit card to your registered address. This acts as a physical credit card for your shopping. Your vCard credit card is linked to the app, you can track all your transactions. As per your monthly billing cycle, you can pay the outstanding. You will not be charged any interest or hidden fees until the payment due date.

Can I convert my spending to EMIs?

With a simple tap, you can covert you spending more than Rs.3000 to EMIs. This will save you from paying a significant amount of interest.

What are the other ways I can use vCard?

vCard can be used to encounter any kind of your financial requirements. Few Include:

  • Marriage ceremony
  • Birth/Naming ceremony
  • Funeral
  • Children’s school fees
  • Two-wheeler/Four-wheeler deposits
  • Home renovation
  • House rent deposits
  • Shopping
  • Healthcare/Medical emergencies

Is there a rewards program associated with the app and the card?

Yes, you will gain reward points for your online spending through the app and offline spending through the card. The information regarding rewards programme varies according to the banking partner and will be shared with you along with the vCard card.

What if I don’t need the funds right now?

Remember, the app charges interest only the amount you use. So, get your limit approved and use it instantly when you need. Once your request is approved, you gain access to funds 24x7 at the tap of a button.

You will receive a VCARD card which can be used like any other credit card. You will be gaining reward points for your each activity online through the app and offline through the card.

How do I apply for vCard? Is it simple?

  • Download - Install vCard from the Play Store or the App Store and fill a little bit information about yourself. Within no time, we will get back to you with your eligibility and credit limit.
  • KYC and DigiLocker- Provide us eKYC and DigiLocker access through Aadhaar two factor authentication (mpin or biometric)
  • Start Using Your money – You can start using the limit in your app and will receive your vCard credit card to your registered address. This acts act not only as a credit card but do much more.

Do I have to share my employment details?

You need to share following details:

  1. Employment type – Salaried, Self-employed, Student, Homemaker
  2. Name of employer
  3. Your monthly income after taxes and deductions
  4. Your monthly expenses including any other EMI you might be paying currently
  5. Whom do you live with – Spouse, Parents, Kids, Friends
  6. Who all are dependent on you – Spouse, Parents, Kids

Can my Credit Card and Credit Limit be upgraded?

Banks unilaterally cannot upgrade your credit card. Your prior consent is required to upgrade your credit card.

How much time will it take to complete the application?

On an average, your application process takes 5 minutes to complete. The time might vary according to your typing speed.


Yes. You get approvals irrespective of banking hours and holidays. However, the KYC authentication process might be impacted on holidays but not on banking hours.

Once I am approved in the mobile app, can my application be rejected later?

Our robust technology, along with the partnership of leading banks and financial firms, does a series of instantaneous checks on your application prior to the approval. If at any phase, the details provided by you or the verification(s) originated by us are incomplete, identified illegitimate or inappropriate then your application will be dismissed. We will not charge any fees for this.

Therefore, please provide us the right information at the onset!

How Can I Change or Cancel my request?

You can always opt to change or cancel your request before you receive final approval from vCard.

How do I pay the outstanding amount every month?

You will be directly paying the outstanding amount (as per your bill) to our partner bank. The app will display your spending, outstanding, remaining balance and also reminds you about the payment.

You can make the payment by –

  • a cheque
  • online directly to the bank
  • through the app

How can I schedule/setup auto-debit from my bank?

Visit our partner bank website (Your application approver) and follow the instructions to setup auto-debit.

How can I reschedule or change/postpone my EMI date?

You can change or postpone your EMI date by writing to us contact_us@vCard.ai. Please make sure you have enough balance before the due date.

What happens if I don’t pay back?

If you fail to pay back, you will lose vCard access. Our partner bank will automatically report Reserve Bank nominated 4 credit agencies (CIBIL, Experian, Equifax, Highmark). This will lower your credit score and affect your future financial loans or credit (house loan, car loan or a two-wheeler loan, or get a credit-card) with any financial firm.

Our partner bank might also initiate legal proceeding to recover the money from you.

So, we suggest you not to use the fund if you think that you cannot pay your EMI or outstanding before or on the due date.

How do you decide credit limit?

Our partner bank/financial firm decides the credit limit based on your profile, income, social profile (Facebook, LinkedIn, Twitter, Phonebook, etc.), CIBIL score and other such factors. The limit might increase, decrease, rejected or blocked as per our partner bank’s/financial firm’s credit policies and also the information you provide us.

How can I increase my credit limit?

Good customers are always valued. Pay your outstanding bills and EMIs on time to raise your credit limit. However, users with too many other loans or a substantial drop in the income might not be eligible.

Is having vCard good or bad for my credit score?

A good CIBIL is one of the significant aspect to get Home loans/personal loans/Car loans/2-wheeler loans/others. Once you start using vCard and make timely payments, you start growing your credit history and CIBIL score. Indeed, repaying the credit amount on-time is one of the best means to build your credit score.

On the other hand, if you delay or fail to pay your monthly payments, your credit score will be affected. Do not worry! We will be remind you regarding the due date, payment amount, etc. through the app, so that you do not miss your payments.

Is there any CIBIL impact if I pay off (foreclose) all my outstanding balance?

No. I you foreclose your outstanding balance there will be no negative impact on your CIBIL score. Once you foreclose your outstanding amount, we will be report to CIBIL as ‘Closed’ along with ‘0 outstanding’.

Is there a chance that my credit limit might be revoked?

Yes. The partner bank/financial can anytime revoke your credit limit if they suspect any credit risk activity. However, this scenario is much rare.

Is it necessary to download the vCard app to apply for credit card?

Yes. You can only apply to us by downloading vCard app on Google Play (Android) or the App Store (iOS) because our product is an app-only product.

How do I know if my application is approved?

You approval process is instant, there is no days together waiting process, unlike the traditional credit card application. After the approval, we have to complete the KYC and DigiLocker formalities. There is no fees or hidden charges for approval, it is completely free.

Who is eligible to apply for vCard?

Anyone citizen of India, holding an Aadhaar card and is above 18 years is eligible to apply.

What are the documents required for applying for vCard?

Before you apply from the vCard app, please have the following information handy:

  • Aadhaar Card or Aadhaar Number
  • Your basic personal and profession data, such as Name, age, sex, employment, etc.
  • Net Banking login information for your salary account
  • Also, you need give us access to eKYC and DigiLocker through 2 factor authentication or you can provide us with your address and ID proof for KYC approval

What address and ID proof documents should I keep handy for the KYC on the app?

  • ID proof (PAN card, driving license, Passport, Voter ID card, etc.)
  • Address proof (Passport, Aadhaar Number, etc.)

Is Good credit score required to avail vCard?

A variety of data sources is used to make a lending decision. One data source is a credit bureau (e.g. CIBIL), including your score. However, a credit bureau score is not mandatory so if you do not have a CIBIL score, you may still be approved.

Do I need to open a savings/current account with the partner bank for using vCard?

It is not mandatory to open/hold a Savings/Current account with the partner bank.

Will you be contacting my employers?

No. We do not contact your employer as we have a robust technology in verifying the legitimacy of the information you provide to us.

What is the fee and the interest charges structure? Are there any hidden fee?

vCard is a user-centric and transparent app. At the time of your spending (through the app or through card) the interest rates and fee structure will be displayed to you. This will provide you with clear details on what you are paying for. vCard does not encourage hidden fees. Below are the fees and interest rate details:

  • The app is free to download. Your approval or rejection (for any reason) is also free. You will only pay for what you use.
  • Rs.499 + Service is the annual fee (no other hidden fee) to avail the vCard facility.
  • The interest rate and late fee charges vary from 15% to 18% annual Interest Rate. The interest rate depends upon the banking or financial partner (we will disclose you at the time of approval).
  • Each time you withdraw or transfer money, you will be charged 2% of processing fee, which will be reflected in your credit statement
  • Any spending through the card or the app are free provided you pay the amount back as per the monthly billing cycle
  • You can convert any of your spending more than Rs.3000 to easy installments. Number of EMIs and amount to be paid every month will be displayed to you while conversion. A minimal interest and service charges will be applicable at the time of EMI conversion
  • You can choose to make a full repayment ahead of the tenure with zero pre-payment penalties.
  • If you delay to pay your monthly bill amount before the due date, you will have to pay 15% late payment fee

How does tenure affect the total interest I have to pay?

The EMI tenure and the total interest are inversely proportional. That is, the longer EMI tenure you choose, the high rate of interest you need to pay. Of course, you can pay less amount and reduce greater EMI burdens in long EMI tenures.

What happens if I miss the payment on the due date?

We will be reminding you regarding your due date and pending payments in timely manner as per your billing cycle. Missing the payment on the due date will have the following negative effects:

  • You will have to pay a late payment fee of 15% (Minimum penalty: Rs.350, Maximum penalty: Rs.1000)
  • If you fail to pay after continuous reminders, our partner bank will start the recovery process. The partner bank might also initiate legal proceeding on you
  • Therefore, we advise you not miss your payments!

Are there any penalties for pre-closing my loan?

No. You can repay all or some of your outstanding balance at any time without penalty. The amount you repay will depend on the date of the month.

What will happen if I pay only "Minimum Amount Due"?

If you pay only Minimum Amount Due, interest will be accrued on total outstanding balance after due date.

Can I use my vCard card overseas?

Yes. Opt for an International card, we will coordinate with our partner bank to provide you the same. Standard international charges are applicable on your spending at various merchants.

How safe is it to share details of/access my internet banking in the app?

Do not worry! You are safe.

We establish a read-only connection with your net banking. We cannot tamper any of your financial details, we only pull your bank statements. We also have an auto-logout feature which is enabled within a few seconds after we get read-only access.

What security measures do you employ?

vCard and its banking partners use SSL and other industry standard encryption technologies while exchanging confidential information. Our technology is built in such a way that most of the activities are automated. Our systems are verified and approved by IT and information security teams of our partner banks. Our systems have been designed such that most of the steps are automated. We comply with all the data privacy and IT security standards of the country.

How do I know my account transaction and payment details?

Your detailed information related to your transactions, upcoming payments, etc. will be displayed on the app. Also, our partner bank or financial firm will send you a monthly credit card statement.

What if I uninstall the app or buy a new phone?

Uninstalling vCard will not be considered as a good credit behavior. If you uninstall, you will lose access to any of the functionalities offered by vCard. However, your ongoing EMIs will be processed by the partner bank and all loan obligations on the funds used will continue. We will not be able to communicate and remind you regarding your due date and pending payments.

You will remain to receive the monthly credit card statements from our partner bank, so you can pay your monthly bills as per your billing cycle.

What I purchase a new smart phone?

One you change your phone, you can download vCard again and sign in using your existing credentials. All your data will be automatically restored and you will have no break in using vCard functionalities.

What if I change my Phone Number?

You can simply login to the app using your registered email ID and update your new phone number. You should also update the partner bank with your new phone number. If not, do write to contact_us@vcard.ai. This is a critical scenario that has to edited and communicated to us, as your funds are linked to your mobile number and KYC particulars.

Do I need to restart the process, if there is any interruption while completing the application?

You need not start from the beginning. You can continue from where you left. In case of any other difficulties write to us at contact_us@vcard.ai.

How do I update/change my mailing address, mobile number or e-mail ID associated my vCard account?

Please communicate with our customer care or write us at contact_us@vcard.ai. We are 24x7 ready to assist you.

Whom should I contact for other queries?

Please feel free to contact us at contact_us@vcard.ai for any information/query/support/service.

What type of phones do you support?

The applications support Android and iOS smart phones.

Download the free app on Google Play (Android) or the App Store (iOS)

I did not receive the bill on time?

Sometimes because of Logistics issues, delivery of bills may get delayed. However, you can always check your bills online or through app.

I do not remember my Aadhaar number, how do I find it?

If you forgot your Aadhar Number (UID) there is no need to worry. you can find your UID number online within few minutes. Please follow the below steps to find UID Number:

  1. Please go to the Resident Portal of UIDAI here https://resident.uidai.gov.in/find-uid-eid
  2. Now enter your Full Name, Email, or Mobile No in the box
  3. Enter the security code and click on Get OTP button
  4. You will get and OTP on your registered number
  5. please enter the OTP in the box and click on Verify OTP button
  6. You will receive your UID Number on your mobile number

Will you send me EMI reminders?

Yes, we will communicate a reminder to you through SMS and email 2-7 days before the payment due date, so that you can ensure sufficient funds are in your bank account.