No Fees, Only Rewards: BharatPe and Unity Bank Launch EMI-Driven Credit Card
BharatPe and Unity Bank have launched India’s first EMI-driven credit card on the RuPay network. With zero fees, UPI linkage, auto-EMI options, flat 2% rewards, and lifestyle perks, the Unity Bank BharatPe Credit Card aims to make credit access simple, transparent, and rewarding.
- Republic Business
- 2 min read
BharatPe, in partnership with Unity Small Finance Bank, has introduced a new credit card that it describes as India’s first EMI-driven offering. The card, launched on the RuPay network of the National Payments Corporation of India (NPCI), is designed to allow users to convert purchases into equated monthly instalments (EMIs).
According to details shared by the companies, the card can be linked to the Unified Payments Interface (UPI), enabling transactions across a wide merchant base. It carries no joining or annual fees, and customers can prepay EMIs without penalty, as per the joint press release issued by the companies
The auto-EMI feature allows conversion of purchases into instalments for up to 12 months. Users also earn flat 2% rewards on transactions converted to EMIs, which can be redeemed through the BharatPe app. Additional benefits include limited lifestyle features such as lounge access and preventive health check-ups.
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Kohinoor Biswas, Head of Consumer Business at BharatPe, said the product is aimed at improving transparency in credit access by moving away from traditional revolving credit models. According to him, “This is a truly lifetime free card with no hidden charges. By combining UPI linkage and auto-EMI, we’re empowering consumers to manage cash flows responsibly, avoiding revolving credit traps and high interest rates typical of traditional cards.”
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Aditya Harkauli, Chief Business Officer for Digital Banking at Unity Bank, added that the card is intended to provide more flexibility for consumers managing every day and planned expenses. “This first-of-its-kind card brings together instant payments, flexible pay-as-you-use credit, and generous rewards on a single, digitally delivered platform,” he claimed.
Unity Small Finance Bank is a scheduled commercial bank promoted by Centrum Financial Services Ltd. with Resilient Innovations Pvt. Ltd. (BharatPe’s parent company) as a joint investor. BharatPe, founded in 2018, was an early mover in QR-based UPI payments and has since expanded into multiple financial services offerings.