Union Bank PM SVANidhi RuPay Credit Card
No reward points under the issuer MITC; nil joining and annual fees for eligible PM SVANidhi vendors.
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The Union Bank product page calls this a lifetime-free RuPay credit card for PM SVANidhi street-vendor beneficiaries: nil enrolment, activation, inactivity and annual renewal fees. Its generic reward sentence says points follow bank policy; the issuer’s April 2026 MITC explicitly says reward points are not applicable to PM SVANidhi and Micro Enterprise credit cards. This model therefore shows zero reward return across all spend categories, rather than copying reward rates from standard RuPay cards. It treats the primary card as having no joining or recurring annual fee. Issuer terms restrict some merchant category codes and forbid international and forex use; a positive rupee return is not inferred from those restrictions. The card initially offers a ₹10,000 operating limit, gradually up to ₹30,000 on satisfactory usage. Fees for late payment, replacement and financing can apply, but spending is assumed paid in full by its due date, and financing/penalties are not part of rewards ROI. Eligibility is limited to qualifying scheme beneficiaries, not the public at large. Confirm current eligibility and final fee schedule directly with Union Bank.
Issuer sources
PM SVANidhi card page, fees and eligibility · April 2026 MITC: point exclusion and terms
Checked 29 September 2026. Confirm your scheme eligibility with Union Bank.
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