Introduction: The SimplySAVE SBI Credit card will allow you to save on the spends which you make on a daily basis. The joining fee would be an amount of Rs.499/- for this credit card. No annual fee will be charged on this card for the first year and from the second year onwards, you will be charged with an amount of Rs.499/-. This annual fee will again be waived off if the amount of spends which you make using this credit card is more than the amount of Rs.90.000/- in a year. The rate of interest which is charged on this credit card on an overdue amount is up to 3.35% per month which would be summed up to 40.2% per annum. So, here is the SBI SimplySAVE Credit card review.
A step by step guide to SBI SimplySAVE Credit card
Quick Key Highlights of SimplySAVE SBI Credit card
This credit card will provide savings on several purchases or transactions which you make daily. From the reward points which you have collected to the rewards which are spend-based to waiver on renewal fee, this credit card will provide you with more number of practical benefits which will allow the credit cardholders for saving while they are making spends using their credit card. Please go through the features and benefits of this credit card in detail.
● This lifestyle credit card with a very less renewal fee.
● A waiver on renewal fee on the milestone spends.
● The reward points which you have collected on everyday categories on spending.
● You will be able to receive bonus reward points within the first 60 days of credit card issuance.
SBI SimplySAVE Credit card lifestyle benefits
You will be able to receive 10 times more reward points on the spends which you make on a daily basis.
SBI SimplySAVE Credit card features and benefits
You will be able to receive 2,000 bonus reward points when you are spending an amount of Rs.2,000/- within 60 days of issuance of this credit card. You will also be able to receive an amount of Rs.100/- as a cashback when you are withdrawing funds using your credit card within the first 60 days of card set-up.
A waiver on renewal fee
If you are spending an amount of Rs.1 lakh or more in one year of membership, then the annual fee of an amount of Rs.499/- will be waived off. This waiver will be applicable from the second year onwards.
This credit card is accepted across the world and can be used at almost 24 million stores which include 3.25 lakh stores in India. Withdrawal of cash will also be possible using this credit card from almost 1 million Visa or MasterCard ATMs which are located across the world.
Balance transfer on EMI
You will be able to transfer the outstanding statement balance amount which is on the other bank credit card to your SBI credit card and you can consider paying it back in EMIs. This balance transfer on EMI is provided by SBI at a minimal rate of interest and processing fee.
You may also check the How to Redeem Reward Points on Credit Card.
Conversion of purchases into EMI
This SBI Credit card will also provide an option called Flexipay. By making use of this feature, you will be able to convert any purchases of big amounts into EMIs. Any purchase which is worth an amount of Rs.2,500/- or more can be converted into EMI and this amount can be paid back in tenures which range from 3 to 12 months. Anyways, this conversion has to be done within 1 month of purchase.
Free add-on cards
By making use of this SimplySAVE SBI Credit card, you will be eligible for three add-on credit cards and these will be offered to you without any extra charges. Your immediate family members who are aged above 18 years will be eligible for this add-on credit cards which will come with the same features as that of your primary credit card.
A waiver on a surcharge of fuel
The bills of fuel will not have any extra surcharge if you are using this SimplySAVE credit card for the payment of your fuel purchases. This waiver on fee will be applicable on all the fuel transactions between the amounts of Rs.500/- to Rs.3,000/- made at any fuel stations present in India. The maximum waiver per cycle of billing is capped at an amount of Rs.100/-.
SBI SimplySAVE Credit card fees and charges
● The joining fee on this credit card is an amount of Rs.499/-.
● The annual fee which is charged on this SimplySAVE Credit card is an amount of Rs.499/-.
● Rate of interest charged on this credit card is up to a maximum of 3.35% per month.
● Fee for cash withdrawal is 2.5% of the amount of transaction which would be subjected to a minimum amount of Rs.300/- at the ATMs of SBI. And this fee would be 3% of the cash withdrawn which would be a minimum of Rs.300/- at International ATMs.
● Fee for the redemption of rewards is an amount of Rs.99/- per request.
● Fee for late payment of the outstanding balance will be Nil if the outstanding balance amount is up to an amount of Rs.200/-. An amount of Rs.100/- will be charged if the outstanding balance is between the amounts of Rs.201 to Rs.500/-. An amount of Rs.400/- will be charged if the outstanding statement balance is between the amounts of Rs.501/- to Rs.1,000/-. If the outstanding balance amount is between the amounts of Rs.1,001/- to Rs.10,000/-, then an amount of Rs.600/- will be charged as a late payment fee. If the outstanding statement balance amount is between Rs.10,001/- to Rs.25,000/-, then a late payment fee of Rs.800/- will be charged. Any outstanding balance amount which is more than Rs.25,001/- will be charged with a late payment fee of Rs.950/-.
● Fee for payment dishonour is 2% of the amount of payment which would be subjected to a minimum of Rs.450/-.
● Fee for statement retrieval is an amount of Rs.100/- per statement.
● Fee for over-limit is 2.5% of the amount of over-limit which would be subjected to a minimum amount of Rs.500/-.
● Fee for transactions made using a foreign currency is 3.5% of the amount of transaction.
● Fee for replacement of card is an amount of Rs.100/-.
Eligibility criteria required for the application of SimplySAVE SBI Credit card
Eligibility for this credit card is completely based on the internal policy of SBI. If you want to know if you are eligible for the application of this credit card, you can go through the below set of instructions.
● Visit the “Simplyfier” page on the official website of SBI Credit cards.
● Now, click “Your income and expense information”.
● Choose your income and expenditure on a monthly basis and click “Show my card”.
Now you will be able to see the list of credit cards you are eligible to apply for. If you are able to find this SimplySAVE SBI Credit card in the provided list, then you can ensure that you have met all the criteria of eligibility to apply for this credit card. You can click “Apply now” under the credit card to apply for the same card.
As an alternative, you can also consider calling SBI SimplySAVE Credit card customer care number for checking your eligibility for this credit card.
Required documentation to apply for an SBI SimplySAVE Credit card
The required documents to apply for this credit card change according to the customer. Below is the list of documents which are required to apply for any credit card. But the bank may always change it as per their requirements.
● Proof of identity – Aadhaar card, voter ID card, PAN card
● Proof of address – Aadhaar card, Driver’s licence, Utility bills like electricity bill or telephone bill.
● Proof of income like your recent payslips, Income Tax Returns.
● Bank statements of recent months.
● Passport size photos.
Application process for SBI SimplySAVE Credit card
To apply for this credit card, you will have to visit the official website of