Satya
In today’s digital world, banking is not just about saving money, it’s also about achieving financial freedom, access, and daily rewards. Unity Small Finance Bank Limited has come up with Roarbank, a platform that combines the best of credit and savings into one unified, smart banking experience. Roarbank is created to make managing money seamless, rewarding, and future-ready, whether you’re a novice or a seasoned digital spender.
What is Roarbank?
Roarbank, which is an Indian initiative by Unity Small Finance Bank Limited, is a hybrid banking platform that combines traditional banking with modern lifestyle needs. Roarbank offers a 2-in-1 hybrid account that combines a savings account and a RuPay credit card, managed through Unity Small Finance Bank.
Features
RuPay Credit Card: The RuPay network allows users to connect their card to third-party UPI apps like Google Pay or PhonePe for “Scan & Pay” transactions.
3-in-1 Account: A mobile app that integrates credit cards, savings accounts, and UPI payments.
Interest-Free Period: Offers a credit term of up to 62 days, with a 3-day grace period.
High Cashback: Up to 20% cashback is available on two user-selected categories every month. Cashback is credited as real money instead of reward points.
No Hidden Fees: The card is marketed as being free for life, with no joining fees and no annual charges.
Savings Interest: The linked savings account earns up to 7% interest per year.
How It Works
To settle outstanding amounts or use savings for over-limit purchases, the card uses the linked savings account, which helps users avoid unnecessary debt and maintain credit flexibility.
Roarbank’s onboarding process is completely digital and only takes a few minutes. Here’s what you need to do:
Go to either Play Store or App Store and download the Roarbank app.
Completing KYC requires basic documents and verification of PAN.
Access your virtual card and savings account without delay.
Your physical card will be delivered to your doorstep with tap-to-pay functionality.
Start transacting by using UPI, setting up auto-debits, and earning cashback from your first transaction.
Fees & Limits
Credit Limit: Up to ₹1.5 Lakh can be approved instantly.
EMI Options: Splitting payments into EMIs (2 to 12 months) with a monthly interest rate of approximately 1% is possible
Cashback: Typically, monthly cashback is limited to ₹2,500, with a minimum redemption threshold of ₹250.
What is the purpose of Roarbank?
Young professionals who desire rewards without any additional charges.
Savers who also want quick access to credit in emergencies.
Individuals who are new to credit and aim to establish a positive credit record.
Savers who also require quick access to credit in emergency situations.
Final Thought
Roarbank, an initiative by Unity Small Finance Bank Limited, establishes a new standard for modern banking due to the increasing demand for flexibility, rewards, and digital-first services. It has been designed to keep you in control and rewarded at every step, from everyday savings to smarter credit usage.
