SBI Corporate Utility Credit Card

The SBI Corporate Utility Credit Card, introduced by SBI Bank, addresses challenges encountered by organizations in managing utility bill payments. This card offers a straightforward and rapid solution for corporate bill payments, allowing businesses to settle bills with ease. Additionally, it furnishes consolidated statements at the organizational level, complemented by individual statements. Enjoy tailored Management Information System (MIS) and Analytics features, as well as multi-layered spend controls for enhanced financial management.

Key Highlights of SBI Corporate Utility Credit Card

  1. Simplify bill payments with a straightforward, speedy, and secure process.
  2. Exercise control over spending through category-based management.
  3. Implement multi-layer spend controls for added security and customization.
  4. Leverage customized Management Information System (MIS) and Analytics capabilities.
  5. Benefit from complimentary Fidelity Guarantee Insurance coverage.

Features and Benefits of SBI Corporate Utility Credit Card

The SBI Corporate Utility Credit Card offers several features and benefits:

1. SBI Corporate Utility Card for Bill Payments:

  • Utilize the SBI Corporate Utility Card for a secure, fast, and straightforward bill payment process.
  • Gain flexibility through biller grouping and the option for bulk payments.

2. User Management:

  • Exercise control over groups or individuals, determining their access and information receipt.
  • Implement a threshold-based maker-checker process for each payment.

3. Card Benefits:

  • Ensure visibility and compliance with the card.
  • Experience heightened security features.
  • Access complimentary Fidelity Guarantee Insurance covering corporate card liability in cases of employee fraud.

4. Insurance:

  • Benefit from a customer-friendly claim settlement process.

5. Spend Category Control:

  • Pay utility bills conveniently using the SBI Corporate Utility Card.

6. Customized Solutions & Controls:

  • Enjoy multi-layer spend controls for better flexibility and payment ease.
  • Achieve improved control and convenience.

7. Online Access: Access your card 24×7 online.

8. Transparency and Compliance:

  • Experience transparent transactions in compliance with regulations.
  • Enhanced security measures for protection.

9. E-Statements:

Receive two e-statements:

  • The Corporate Utility Card Consolidated Statement on the second day of each month.
  • The Consolidated Corporate Utility Card Interim Statement on the 13th day of each month.

SBI Corporate Utility Credit Card Fees and Charges

Explore the fee structure for the SBI Corporate Utility Credit Card and discover the financial advantages that come with it.

  1. Annual Fee: No annual fee.
  2. Renewal Fee: No renewal fee.
  3. Interest-Free Credit Period: 15-32 days, applicable only to retail purchases when the previous month’s outstanding balance is fully paid.
  4. Finance Charges: Up to 3.35% per month, equivalent to 40.2% per annum, calculated from the transaction date.
  5. Minimum Amount Due: There is no minimum amount due; the total balance must be paid in full every month.
  6. Cash Advance Limit (if applicable): Variable limit.
  7. Cash Advance Charges: Up to 3.35% per month, accounting for 40.2% per annum from the withdrawal date.
  8. Cash Advance Fee – SBI or Other Domestic ATMs: Up to 2.5% of the withdrawal amount or ₹450 per transaction, whichever is higher.
  9. Cash Advance Fee – International ATMs: Up to 3% of the withdrawal amount or ₹450 per transaction, whichever is higher.
  10. Foreign Exchange Markup Fee: Up to 3.5%.
  11. Late Payment Fee:
  • Nil for the total amount due from ₹0 to ₹200.
  • ₹100 for the total amount due greater than ₹200 and up to ₹500.
  • ₹400 for the total amount due greater than ₹500 and up to ₹1,000.
  • ₹500 for the total amount due greater than ₹1,000 and up to ₹10,000.
  • ₹750 for the total amount due greater than ₹10,000.

Eligibility Criteria for SBI Corporate Utility Credit Card

Here are essential criteria for applying for an SBI Corporate Utility Credit Card:

  1. Age Requirement: Applicants must fall within the age range of 21 to 70 years.
  2. Business Ownership and Stability: Prospective applicants are required to be business owners with a consistent and stable income.
  3. Creditworthiness: Both the applicant’s personal credit score and the business credit score may be significant factors in the evaluation process.

Documents Required for SBI Corporate Utility Credit Card

To apply for the SBI Corporate Utility Credit Card, you will typically need to provide the following documents:

1. Identity Proof Options:

  • Aadhar Card
  • Voter’s ID
  • PAN Card
  • Driving License
  • Passport

2. Address Proof Options:

  • Utility bills from the latest months
  • Aadhar Card
  • Passport
  • Any other government-approved address proof

3. Income Proof Requirements:

  • Latest audited Income Tax Return (ITR)
  • Business registration certificate
  • Passport-sized photograph
  • Additional documents as necessary

How To Apply for SBI Corporate Utility Credit Card?

Follow these steps to apply for the SBI Corporate Utility Credit Card:

  1. Go to the official website of SBI Card.
  2. Navigate to the ‘Corporate’ section on the website.
  3. Choose the ‘Credit Cards’ option from the menu.
  4. Locate and select the SBI Corporate Utility card.
  5. Click on the ‘Apply Now’ button.
  6. Follow the instructions provided to complete the application process.

Frequently Asked Questions (FAQs) –

1. What is the SBI Corporate Utility Credit Card?

The SBI Corporate Utility Credit Card is a credit card designed specifically for corporate entities, offering various benefits and features tailored to business needs.

2. How can I apply for the SBI Corporate Utility Card?

To apply for the SBI Corporate Utility Card, visit the official SBI Card website, go to the ‘Corporate’ section, select ‘Credit Cards,’ choose the Corporate Utility card, and follow the application process.

3. What are the key features of the SBI Corporate Utility Card?

The card comes with features such as expense management tools, credit limits for employees, and other perks designed to streamline corporate financial transactions.

4. Is the SBI Corporate Utility Credit Card only for specific businesses?

The card is generally tailored for corporate entities, irrespective of the industry. However, eligibility criteria may apply, and it’s advisable to check with SBI for specific details.

5. What benefits does the SBI Corporate Utility Credit Card offer for expense management?

The card typically provides tools and features to efficiently manage business expenses, including detailed statements, tracking options, and customized spending limits for employees.

6. Are there any rewards or cashback programs associated with the SBI Corporate Utility Credit Card?

The rewards and cashback programs may vary. It’s recommended to check the latest offerings on the official SBI Card website or contact SBI customer service for the most accurate information.

7. How does the SBI Corporate Utility Credit Card help in financial planning for businesses?

The card may offer financial planning benefits through features like comprehensive expense reports, budget controls, and real-time monitoring, assisting businesses in managing their finances effectively.

8. What is the credit limit for the SBI Corporate Utility Credit Card?

The credit limit can vary based on the creditworthiness of the corporate entity. SBI evaluates applications individually, and the assigned credit limit is communicated upon approval.

9. Are there any annual fees associated with the SBI Corporate Utility Credit Card?

Annual fees and charges are subject to change. It’s recommended to review the latest fee structure on the official SBI Card website or contact customer service for the most up-to-date information.

10. How can I contact SBI for more information or assistance regarding the Corporate Utility Credit Card?

For any inquiries or assistance, you can contact SBI Credit Card customer care service through the provided helpline or visit the nearest SBI branch for personalized support.