The State Bank of India is offering one of the best credit cards to suit the financial and lifestyle needs of cardholders. SBI Credit cards are having features like low finance charges to excellent reward programs. All these features make SBI one of the best and affordable credit card providers in India
Eligibility criteria to apply for SBI Credit Cards
The main benefits of applying for SBI Credit Card:
Save on interest payment on outstanding credit card bills:
One is allowed to transfer outstanding amounts from a card of another bank to an SBI card at a low-interest rate. The feature SBI Balance transfer makes it easier to consolidate high-interest credit card debts to low.
Automatic bill payments
Utility bill payments become easier with SBI Credit Card. The option of auto bill payment given in SBI Credit Card makes it easier to make timely payments of credit card bills each month. You can register and pay your utility bills, electricity, or telephone bills.
Protect yourself with insuranc
The SBI credit card is giving comprehensive credit card protection to the user to save from being in a situation of card loss, theft, or fraud. The facilities that are part of credit card protection are banking protection, free-of-cost replacement of lost credit cards, or any travel assistance.
You can easily access your SBI Card account online or may download the SBI Card mobile app. Sitting from the comfort of your home or office a cardholder can make bill payments, check outstanding balance, and more at any time anywhere.
Fund your immediate cash requirements
SBI credit cards are the best financing option for those who need additional funds for an emergency. SBI is offering an ‘SBI Encash’ facility for cardholders to get quick access to funds. You could get an amount above or within your credit limit transferred to your account within 48 hours with Encash. Repayment of the funds can be made in 12-, 24-, or 36-month installments.
Documents required to apply for SBI Bank Credit Card
Both Self-employed and Salaried
Salaried- Income proof
Self-employed- Income Proof
Types of SBI Credit Card
The SBI is having diversified portfolio of credit cards on offers. Here are the main types of Credit Cards:
Popular SBI Credit Card
|SBI Credit Card Variants||Annual fee||Best suited for|
|Simply CLICK SBI Credit Card||Rs 499||Online Shopping|
|Simply SAVE SBI Credit Card||Rs 499||Shopping( Everyday)|
|Yatra SBI Card||Rs 499||Travel|
|SBI Style up contactless Credit Card||Rs 499||Co-branded shopping|
|BPCL SBI Card||Rs 499||Fuel|
|IRCTC SBI Platinum Card||Rs 500||Co-branded( Travel)|
|Air India SBI Platinum Card||Rs 1499||Travel|
|SBI Card Prime||Rs 2999||Premium and Lifestyle|
SBI Credit Card fees and other charges
|Types of Fees||Charges|
|Finance charges||Up to 2.5% per month for SBI Card Unnati Up to 3.35% per month for other cards|
|Minimum Amount Due||5% of total outstanding amount or Rs.200 + taxes, whichever is higher|
|Interest free period||20 to 50 days. Varies from one card to another|
|Cash Advance Limit||Up to 80% of your total credit limit, maximum of Rs.15,000 per day|
|Statement Retrieval||Rs 100 per statement – for statements more than 2 months old|
|Late payment fee||Below Rs.200: Rs.0 Above Rs.200 to Rs.500: Rs.100 Above Rs.500 to Rs.1,000: Rs.400 Above Rs.1,000 to Rs.10,000: Rs.600 Above Rs.10,000 to Rs.25,000: Rs.800 Above Rs.25,000: Rs.950|
|Overlimit fee||2.5% of the excess credit utilized or Rs.500, whichever is higher|
|Card replacement fee- domestic||Rs 100|
|Card replacement fee while traveling abroad||Actual cost of the card or $175, whichever is higher|
|Dynamic currency conversion fee||3.5% For SBI Card ELITE – 1.99%|
|Reward Redemption charge||Rs 99|
How to apply SBI Credit card on bank website?
How to apply for SBI Credit Card at IndiaLends Platform?