SBI SimplySave Credit Card is best for day-to-day use. You can save a good sum using a credit card. The card gives you various rewards in your daily transaction. It also offers you several discounts from time to time.
Today I will share with you some of the important points about the SBI SimplySave credit card review. Here you will know several benefits, features related to the card.
Let us now look at some of the rewards you can get by using the card.
- You will get 10 reward points for every Rs. 100 spent using the credit card. It is available in dining, movies, stores, or grocery.
- For every Rs. 100 spent on other things; you will get 1 reward point.
- You will get a cashback of Rs. 100 within 30 days. To avail of this, withdraw money using your credit card.
- Earn a Rs 2,000 bonus in the first 60 days. You can get the bonus by spending Rs—2,000 or more in the first 60 days.
- If you spend Rs. 1,00,000 or more in a year, you are eligible for an annual fee reversal.
- Get a 1% fuel surcharge waiver at every petrol pump. When you pay Rs. 500 or more using the credit card, you are eligible for the offer. A minimum of Rs. 100 can be earned from the offer.
What Makes This Credit Card Better Than Other Credit Cards?
The biggest difference which the card offers is the reward points. It offers 10x reward points for your shopping and entertainment. This means whenever you buy something using this credit card, you will get 10 points for every Rs. 100 spent. It applies to dining and movies also. Other than this, you get 1 point for every Rs. 100 spent on other items.
The annual fee is Rs. 499 per year. It is also reversible when you spend a minimum of Rs. 1,00,000 using the card.
Other cards don’t have so many Reward points in shopping and entertainment. It generally gives you 3-5 Reward Points in your spending. Also generally the annual fee is quite high Rs. 599 to Rs. 799.
Who Should Opt For Credit Card?
It is a good choice for you if;-
- You go shopping very often.
- You go out for dining regularly.
- You go to watch movies regularly.
- You go grocery shopping from the local market (Spencer, Big Bazaar, etc.).
Features And Benefits
Let us take a look at some features and benefits provided by the card
1. You can save money while paying bills of other credit cards.
2. You can pay electricity bills, telephone, and other utility bills using the card. It has an easy Bill Pay option.
3. You can also avoid delays in bill payment by using the card. Use the net banking feature and add the card to the app. Every month you will receive an SMS reminder for payment due.
4. It also comes with an add-ons feature. You can get add-ons cards for your family. These add-ons cards will have the same benefits and rewards.
5. An interest-free credit period of 20-50 days if,
- It is a retail purchase.
- All previous months’ dues and outstanding are cleared.
Fees And Charges
Now let’s take a look at the fees which are associated with SBI SimplySave Credit Card.
- Joining fee of Rs. 499.
- You have to pay a renewal fee of Rs. 499. It is applicable from the second year.
- Reward redemption fee of Rs. 99.
- Cash advance fee which is;-
- 5% or Rs. 300 for SBI or Domestic ATMs. Which one is more?
- 3% or Rs 300 for international ATMs. Whichever is more?
- You have to pay an interest rate as an extended credit finance charge.
- 35% per month or
- 2% per annum.
- Cheque fee of Rs. 100.
- You have to pay some late payment fees which are;-
- Nil for the amount due is between Rs. 0 to Rs. 500
- 400 for the total amount due between Rs. 501 to Rs. 1000.
- 750 for the total amount due between Rs. 1,001 to Rs. 10,000.
- 950 for the total amount due is greater than Rs. 10,000.
Eligibility And Documents Required
You are eligible if,
- You are a citizen of India.
- Your age is 21 years or more.
- Your age is not more than 70 years.
- You have a minimum income of Rs. 20,000 for a salaried person.
- Your income is Rs. 30,000 or more if you are a self-employed person.
- You have a minimum income of Rs. 30,000. If your age is between 31-40 years.
- Your income is Rs. 40,000 or more if your age is more than 40 years.
- You shall have a good credit score.
- A recent self-attested photograph of yourself.
- Identity Proof. PAN Card, Aadhaar Card, Driving License, etc. The copy of your ID proof shall be self-attested.
- Address Proof. Aadhaar Card, Driving License, Utility Bill, Ration Card, etc. The copy of the Address proof shall be self-attested.
- Income Proof. Salary slip (latest), Bank Statement, etc.
- A declaration form signed by you.
How To Apply For The Card?
Through The Official Bank Website
- First, go to sbicard.com.
- Go to the credit card and select shopping.
- Click on apply now button against the SimplySave credit card.
- Enter the details and submit the form.
It will take some time to get the card. The details will be checked thoroughly before it is approved.
- Visit the nearest SBI Branch.
- Ask for the credit card application form.
- Tick on SimplySave Credit Card from the options.
- Fill out professional and personal details.
- Submit the form to the bank with the required documents.
It will take some time to get the card as they will check if you are genuine.
1. What is the Credit limit for the SBI SimplySave Credit Card?
The credit limit of the credit card depends on your credit score. It also depends on the stability of income. How stable is your job or business? So, to get a higher limit, you must have a good credit score and income stability.
2. Can my family members use the credit card simultaneously?
Yes, any of your family members above 18 years of age can use it. You have to apply for an add-on credit card. The add-on credit card has the same features and benefits as your card.
3. Can I transfer any outstanding balance to my SimplySave Credit Card and vice versa?
Yes, you can transfer your outstanding balance to your SimplySave Credit Card. You can also do the opposite and transfer the outstanding amount to other credit cards.
4. Can I use a credit card outside India?
Yes, the SBI SimplySave Credit Card is accepted abroad. But it can not be used in Nepal and Bhutan.
Let us check out some similar credit cards.
So if you do transactions daily, then the SBI SimplySave card is a perfect choice. Also, the annual fee is meagre and reversible. If you get to dine out frequently, then you can use this credit card. Also, the minimum income required is meagre.
So if you are thinking of getting a credit card with minimal charges, you must go for the SBI SimplySave Credit Card.
I have shared all the important points regarding the SBI SimplySave Credit Card. I hope this helps you.