By the term ‘retirement’, most of us think of that peaceful period of our lives for which we have been working hard since the first day of our job. Everyone has a different interpretation of their retirement but, in general, we all mean it to be a peaceful and comfortable period of our life. For some people, retirement means satisfying their wanderlust while for others, it means comfortable and cosy mornings until death does them apart! But the key concern that keeps us worried is the finance. Though everyone plans their golden period quite efficiently, financial urgencies and uncertainties come uninvited. You may require immediate cash to get the medical treatment done ASAP. On the other side, the traveller within you must be telling you to roam. Hence, to live your retirement life without any financial worry, banks are geared up with their range of credit cards.
Credit Card
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Now, the process of applying for these credit cards remains more or less the same. But before finalizing a card, it is immensely important for the applicant to be fully convinced of the product. Keeping in mind the offers are exclusively for senior citizens, the cards come with lower interest rates compared to the normal credit cards. Another feature that these cards usually bear is the free-of-cost status. These cards usually come free of cost, which means that the applicant does not require to pay the joining fee and the annual charges that other cards have.
Many people think, can a pensioner get a credit card in India? Well, yes! Credit Cards for Pensioners in India come with a variety of offers and benefits that would not only take care of the major concerns of the applicants but also make their banking experience more rewarding and satisfying. The low-interest credit cards for senior citizens take care of the amount of interest that the customer is liable to pay to the bank for using the facility. These cards are ideal for those who would prefer to have a low maintenance credit card.
Best Credit Cards for Retired Persons/Pensioners in India 2024
Below listed are the credit cards for retired persons in India. Take a look!
Credit Card for Pensioners – Bank of India
- Exclusively designed for Pensioners
- Low-interest credit cards for senior citizens
- Credit limit based on thrice the monthly pension of the applicant
- No TOD allowed
- Billing cycle is from 16th of current month to 15th of next month.
- Repayment is to be made on or before 5th of succeeding month
Senior Citizen Card – Indian Bank
- One of the best credit cards for pensioners in India
- Credit Card cum ID Card
- Bears year of birth, photo and blood group on the card
- Availability of higher POS / online limits.
- Photo is printed on the card for additional security
- Online limit of Cash withdrawal ₹25,000 and Point of Sale ₹25,000 ( Aggregate limit of ₹ 50,000 per day)
- There will not be any AMC charges for the Senior Citizen Card
Apart from specific Credit Card for pensioners in India, you can also take a look at those that provide the desired features and benefits and come at low costs. The only thing that you need to keep an eye out for is the age limit that the bank specifies for the applicants. For finding such cards you can check out SBI credit card for pensioners, ICICI credit card for pensioners and many more on the official website of the bank.
Retired Credit Card Application
Retired Credit Card application is a convenient and quick process. Considering the urgency of the funds and the convenience that this facility would cause the retired individuals, banks make it a point to provide them with the best of the banking experience. The application process takes almost no time and is a hassle free process. The applicants do not have to go through the heavy and cumbersome documentation process. Also, the card issuance takes less time along with a transparent process of issuance. There are two ways through which the applicant can get in touch with the bank for this facility. The applicant can prefer the online process as it takes less effort as compared to the manual one. All that the applicant needs to do is fill in the form, upload the documents (or keep them ready for the door step pick up) and pay the required fee. However, if you prefer the conventional method of application, all you need to do is visit the nearest bank premises with the desired documents of proof and get in touch with the representative for the process of application.