Introduction: SBI PRIME Credit card has been introduced to contribute extra features to a premium lifestyle. This credit card comes with a joining fee of an amount of Rs.2,999/-. The same fee will be considered as the annual fee for the first year. From the second year onwards, the card will be charged with an annual fee of Rs.2,999/-. You will be able to enjoy a waiver on the annual fee if you are spending a minimum amount of Rs.3 lakhs in a year. The rate of interest which is charged on the outstanding statement balance is up to 3.35% per month which would be summed up to 40.2% per year.
A step by step guide to SBI PRIME Credit card benefits
The State Bank of India has introduced SBI PRIME Credit card which is the one which provides a large range of rewards. This credit card will provide you with excellent benefits on joining along with additional reward points for transactions which are made in several categories like fuel, lifestyle and travel.
Quick Key Highlights of SBI PRIME Credit card
This credit card is one of the premium credit cards provided by the bank and this has been introduced mainly for the people who travel frequently and for those who make most of the online purchases.
You will be provided with an e-gift voucher which is worth an amount of Rs.3,000/- provided from the bank on the payment of your annual fees. You can consider redeeming this voucher on purchases which are made at Hush Puppies, Yatra, Shoppers Stop, Marks and Spencer, Bata, Pantaloons.
By making use of this credit card, you will be able to receive 20 reward points for each amount of Rs.100/- spent on your birthday.
A waiver on the annual fee
If you are spending more than the amount of Rs.3 lakhs in a year, then the annual fee of Rs.2,999/- which is charged on this credit card will be waived off.
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Benefits on Milestone
- You will be able to win a voucher from Pizza Hut which is worth an amount of Rs.1,000/- on the purchases which are more than Rs.50,000/- in a particular quarter.
- You will be able to receive gift vouchers from Yatra or Pantaloons which are worth an amount of Rs.7,000/- by spending more than the amount of Rs.5 lakhs in a year.
SBI PRIME Credit card features
This credit card provides a large range of benefits and features which are spread across several categories like bookings of flight tickets, stays at hotels, fuel purchases etc.
Benefits on hotel stays
- You will be able to receive membership of Trident Privilege Red Tier as a complimentary. This will provide you with 1,000 welcome points once the registration is done.
- You will be able to enjoy a 10% discount instantly on the bookings which are made via the website of the hotel.
- You will also receive bonus points of 1,500/- on your first stay at the hotel.
SBI PRIME card lounge access
- By making use of Club Vistara Silver Program, you will be able to receive one free access to the lounge and one voucher and one upgrade voucher.
- You will also be eligible for four lounge visits for free in a year at the lounges at international airports.
- The program of Visa or MasterCard lounge access will provide 4 visits per year at domestic airports as a complimentary.
Privileges offered by MasterCard or Visa card
- You will be able to receive up to 10,000 miles per night on the stay at hotels and an extra 25% additional miles at the official website of Kaligo.
- You will be able to receive up to 8% off on the bookings which are made at hotels.com throughout the Asia Pacific.
- You will be able to receive a discount of 35% on Avis Car rentals and a discount of up to 10% on Avis Car Rentals.
Insurance for free
You will be able to receive an air accident insurance cover which is worth an amount of Rs.50 lakh and credit card fraud liability cover up to an amount of Rs.1 lakh provided to primary cardholders.
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A waiver on fuel surcharge
- You will be able to receive a 1% waiver on a surcharge of fuel through all the fuel stations.
- This particular offer will be valid for the transactions which are ranging between the amounts of Rs.500/- and Rs.4,000/-.
- A maximum waiver of Rs.250/- can be availed per statement cycle.
SBI PRIME Credit card limit
The credit limit on this PRIME card is completely decided by the bank. For deciding the limit for any specific credit card, the bank will take into consideration various factors like the applicant’s credit history, credit score along with the behaviour of repayment of past and existing debts.
SBI PRIME card offers
Offers on travel
- You will be able to receive discounts on flight, hotel and bus bookings on EaseMyTrip by making use of this credit card.
- You can also use EMI feature for your bookings made on travel at ClearTrip, Yatra.com and Goibibo.
Offers on dining
You will be able to receive a 20% discount on Zomato if your minimum amount of transaction is Rs.300/-.
Offers on shopping
You will be able to receive EMI payment on products that are purchased from online shopping websites like Amazon, Myntra, Flipkart etc.
SBI PRIME Card benefits on reward points
- You will be able to receive 2 reward points for each amount of Rs.100/- spent on retail purchases.
- You can redeem reward points for the payment of your outstanding statement balance amount.
- A waiver of 1% on fuel surcharge is given on the fuel transaction between the amounts of Rs.500/- to Rs.4,000/- at all the petrol stations.
Redeeming reward points
You can consider redeeming your reward points through SBI internet banking. Below are the steps which have to be followed
- Login to your net banking account of SBI using your credentials.
- Click “Redeem rewards” on the main page.
- You can select the category of rewards from the catalogue provided to you.
- The total number of reward points will be displayed on the left side of the page.
- Provide the city for rewards delivery.
- Select the reward quantity and then click “add to cart”.
- Once you are done, make sure that you are checking the disclaimer and then finally click on “Place order”.
SBI PRIME Credit card fees and charges
- SBI Prime Credit card Annual fee is an amount of Rs.2.999/-. The same amount is considered as joining fee for this credit card
- An amount of Rs.2,999/- is charged as renewal fee from the second year onwards.
- No additional fee will be charged for add-on cards.
- Rate of interest charged on this credit card would be a maximum of 3.35% per month.
- Fee for withdrawal of cash is 2.5% of the amount which is withdrawn which would be subjected to a minimum amount of Rs.300 at SBI ATMs and it would be 3% at international ATMs which would again be subjected to a minimum amount of Rs.300/-.
- Fee for cash payment is an amount of Rs.100/-.
- Fee for cheque pickup is Rs.100/-.
- Fee for payment dishonour is 2% of the amount of payment which would be subjected to a minimum of Rs.450/-.
- Charges for the request of the statement is an amount of Rs.100/- per statement and this would be applicable if you request statements which are more than 2 months old.
- The fee for the cheque is an amount of Rs.100/-.
- No late payment fee will be charged if the outstanding amount is up to an amount of Rs.200/-. If it is between the amounts of Rs.201/- to Rs.500/-, then an amount of Rs.100/- will be charged. An amount of Rs.400/- will be charged as a late payment fee if the outstanding balance amount is between Rs.500/- to Rs.1,000/-. If the outstanding balance amount is between Rs.1,001/- to Rs.10,000/-, then an amount of Rs.600/- will be charged as a late payment fee. If the outstanding balance is between the amounts Rs.10,000/- to Rs.25,000/-, then the late payment fee would be an amount of Rs.800/-. Any outstanding statement balance amount greater than Rs.25,001/- will be charged with a late payment fee of Rs.950.
- Fee for over-limit would be 2.5% of the amount of over-limit which would be subjected to a minimum amount of Rs.500/-.
- Fee for replacement of this credit card will be an amount of Rs.100/-.
- Charges for transactions made in foreign currency is 3.5% of the transaction amount.
- Fee for the redemption of rewards is an amount of Rs.99/-.
Eligibility Criteria for the application of SBI PRIME Credit card
- You should belong to the age group of 18 to 70 years if you want to apply for this PRIME credit card.
- Any add-on cardholder should be above 15 years of age to apply for this credit card.
- You can either be an Indian resident or a non-resident Indian.
Required documentation for the application of SBI PRIME Credit card
- Duly filled the application form of SBI PRIME credit card.
- PAN card, Aadhaar card, Driving licence as identity proof.
- Bank statements of the recent 6 months, Utility bills like telephone or electricity bill as address proof.
- Form 16 or the latest salary slips for income proof.
- Passport size photographs.
How to apply for SBI PRIME Credit card
You can visit any of the SBI branches nearer to your locality to get to know more information about the card and apply for it with the help of bank executives. You can also consider applying for this credit card from the official website of State Bank of India.