The only credit limit you need — instant, rewarding, and UPI enabled 👑
Why the Roarbank credit limit is a smarter choice
01
Instant decision while registering in the app, registration takes just 3 minutes
02
Enjoy an interest-free credit period of up to 62 days
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Not eligible for the full credit limit? You can still get going with our starter credit limit
What’s the starter credit limit all about?
New to сredit? Build сredit history and grow limit together
In absence of enough credit history, we'll give you a small starter credit limit to help you begin your credit journey
Use Roarbank and make timely repayments. As your credibility grows, your elegibility for higher credit limit also grows
You can also deposit funds in your Roarbank Savings Account and start spending!
2-in-1 credit card and savings account
A 2-in-1 card for you to access savings and credit limit both at one place
Earn cashback on transactions done through the Roarbank card including those done from funds in Roarbank savings account
How our 2-in-1 card works:
On May 1, Savings account balance ₹3,000, Credit limit available: ₹4,000
On May 1, you spent ₹1,500 ✅
New balance: Savings account balance ₹1,500, Credit limit available: ₹4,000, Credit limit used: ₹0
On May 2 , you spent ₹3,500 ✅
New balance: Savings account balance ₹0, Credit limit available ₹2,000, Credit limit used: ₹2,000
On May 3 , you receive ₹5,000 in savings account ✅ New balance: Savings account balance ₹3,000, Credit limit available: ₹4,000, Credit limit used: ₹0
How does the interest free credit period actually work?
Example 1
June 1 your Bill is generated with due date of June 27 as payment due date is 3 days before end of the month. So if you repay ₹25,000 before June 27, you pay zero interest
Example 2
On May 10, you spent ₹100,000. Then on May 30, you spent another ₹50,000. June 1 – your bill for ₹150,000 is generated. June 2- you spent ₹50,000 ✅ Repay ₹150,000 by June 27 and ₹50,000 by July 28 to stay interest-free
Example 3
You had ₹50,000 outstanding with payment due date of May 1. Interest starts applying to that balance if this remains unpaid. On June 15, you spend another ₹100,000 ✅ To reactivate the interest-free period, repay ₹150,000 along with any interest that has built up
FAQ 🧐
Can Roarbank help me improve my credit score?
Yes! Using your Roarbank card responsibly and paying your bills on time helps you build and improve your credit score over time
What interest rate is applicable on the Roarbank card after the interest-free period?
Roarbank charges a competitive interest rate of 39.6% per annum (3.3% monthly) on unpaid outstanding balance after the interest-free period ends
What happens if I exceed my credit limit?
With Roarbank, your transactions are first covered by the balance in your Savings Account. Once those funds are used, you can continue spending up to your approved credit limit. However, you cannot exceed the combined total of your savings balance and credit limit. If a transaction exceeds this amount, it will be declined, and you’ll be notified. To stay in control of your spending, we recommend using the Roarbank app to track your available funds
What's my credit limit?
As a Roarbank customer, you can receive a credit limit of up to ₹1,50,000. Your exact eligible limit will be shown to you during the application process. Over time, you may also become eligible for credit limit upgrades, which you can accept directly in the app
How does Roarbank handle credit limit increase?
Roarbank automatically reviews your account periodically to assess eligibility for a credit limit increase based on your payment history and credit usage. If you're eligible, you’ll receive a notification, and the limit will be increased once you provide your consent
What is the interest-free credit period on my card?
The interest-free period for using your credit limit is up to 62 days, including a 3-day grace period as stipulated under RBI guidelines.
To stay in interest free credit period, you must fully repay total amount due (TAD) by the payment due date mentioned in the statement
What is the minimum amount due (MAD)?
The Minimum Amount Due (MAD) is the minimum sum you are required to pay by the payment due date to avoid late payment charges and overdue classification. It is calculated as the higher of the following:
5% of the total amount due, or
The sum of interest charges and any applicable penalties (e.g., late payment fees, if it so).
If the minimum amount due is less than Rs 500, the Cardholder will be charged Rs 500 as the minimum amount due.
If the total amount due is less than Rs 500 then the total amount due value becomes the minimum amount due.
If the MAD from the previous billing cycle is not paid in full, the MAD for the current cycle will include:
The unpaid portion of the previous cycle’s MAD, plus
The MAD calculated for the current cycle
What happens if I don't pay the minimum amount due (MAD) on time?
If you do not pay at least the minimum amount due by the due date, your account will become overdue and this will negatively affect your credit score
Additionally, interest will continue to accrue on the outstanding balance at 3.3% per month, and a late payment fee of 2% of the unpaid dues (with a minimum charge of ₹500) will be applied
