Karnataka Bank SimplySAVE SBI Card

The collaboration between State Bank of India and Karnataka Bank has given rise to the Karnataka Bank SimplySAVE SBI Card, specifically crafted for mindful consumers who prioritize conscious spending. This card presents unique features that empower customers to accumulate savings even as they engage in transactions.

Key Highlights of Karnataka Bank SimplySAVE SBI Card

1. 10X Reward Points:

  • Earn 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Grocery Spends.
  • Earn 1 Reward Point for every Rs. 150 spent on all other transactions (4 Reward Points = Rs. 1).

2. Complete Fuel Freedom:

  • Avail a full waiver of the 1% Fuel Surcharge at any Petrol Pump.
  • Transact between Rs. 500 to Rs. 3,000 at any Petrol Pump in India to enjoy this offer.
  • Maximum surcharge waiver of up to Rs. 100 per statement cycle on Karnataka Bank SimplySAVE SBI Card.

3. Spend Based Reversal:

  • Receive an annual membership fee reversal starting from the second year of your subscription.

4. 0% Fuel Surcharge:

  • Enjoy 0% Fuel Surcharge at any petrol pump by transacting between Rs. 500 to Rs. 3,000, saving you the 1% fuel surcharge.

5. Welcome Offer:

  • Spend Rs. 2,000 or more within the first 60 days of receiving your card to earn 2,000 bonus reward points.
  • Get Rs. 100 cashback on your initial ATM cash withdrawal within 30 days of card receipt.

Features and Benefits of Karnataka Bank SimplySAVE SBI Card

The Karnataka Bank SimplySAVE SBI Card offers several features and benefits:

1. Global Acceptance:

  • The card is universally accepted at all establishments that recognize Visa and MasterCard.
  • It can be swiped at over 2.4 million stores worldwide, including more than 325,000 stores in India.

2. Cash Withdrawal:

  • Cash withdrawals can be made from over 1 million ATMs globally powered by Visa or MasterCard.

3. FlexiPay:

  • Users can convert their credit card outstanding dues into convenient EMIs through the FlexiPay feature.
  • To utilize this, the purchase amount must be a minimum of Rs. 2,500, and the request should be made within 30 days of purchase.

4. Fuel Surcharge Waiver:

  • A 1% fuel surcharge on petrol pump transactions is waived if the bill exceeds Rs. 500, applicable to purchases worth Rs. 3,000.
  • Maximum surcharge waiver is Rs. 100 per month or statement cycle.

5. Balance Transfer from Other Credit Cards:

  • The Balance Transfer on EMI facility enables users to transfer outstanding dues from other credit cards to the Karnataka Bank SBI Simply SAVE Card.
  • Low-interest rates and easy monthly installment options are available for repayment.

6. Easy Money:

  • Cardholders can obtain a draft or cheque against their cash limit through the Easy Money feature, delivered to their registered address.

7. Add-On Cards:

  • Users can request up to two add-on credit cards for their family members, allowing them to enjoy the same privileges.
  • Eligible family members (parents, spouse, siblings, and children above 18 years) can apply for the add-on Simply SAVE card.

Karnataka Bank SimplySAVE SBI Card Fees and Charges

Explore the fee structure for the Karnataka Bank SimplySAVE SBI Card and discover the financial advantages that come with it.

1. Fees:

  • One-time annual fee: Rs.499
  • Annual renewal fee: Rs.499
  • No fee for add-on credit cards

2. Interest Rates:

  • Post interest-free repayment period (20-50 days): Interest rate up to 3.35% per month on outstanding from the purchase date
  • Minimum amount due: 5% of total outstanding or Rs.200, including EMIs for loans and similar facilities

3. Cash Advance:

  • Cash advance limit: Up to 80% of credit limit on Simply Save card, max Rs.12,000 per day
  • Interest on cash advances: Up to 3.35% per month from the date of withdrawal

4. Cash Advance Fee:

  • 2.5% of transaction amount for withdrawals from SBI and domestic bank ATMs (min. Rs.300 per transaction)
  • 3% of transaction amount for international ATM withdrawals (min. Rs.300)

5. Late Payment Fee:

  • NIL if total amount due is Rs.0 to Rs.500
  • Rs.400 if total amount due is greater than Rs.500 and up to Rs.1,000
  • Rs.750 if total amount due is greater than Rs.1,000 and up to Rs.10,000
  • Rs.950 if total amount due is greater than Rs.10,000 and up to Rs.25,000
  • Rs.1,100 if total amount due is greater than Rs.25,000 and up to Rs.50,000
  • Rs.1,300 if total amount due is greater than Rs.50,000

Documents Required for Karnataka Bank SimplySAVE SBI Card

To apply for the Karnataka Bank SimplySAVE SBI Card, you will typically need to provide the following documents:

1. Identity Proof:

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

2. Address Proof:

  • Aadhar Card
  • Passport
  • Voter ID
  • Utility Bills (electricity, water, gas, etc.)
  • Rental Agreement

3. Income Proof:

  • Salary Slips (last three months)
  • Income Tax Returns
  • Form 16

4. Passport Size Photographs: Recent passport-sized photographs

How To Apply for Karnataka Bank SimplySAVE SBI Card?

Follow these steps to apply for the Karnataka Bank SimplySAVE SBI Card:

1. Check Eligibility Criteria:

  • Before applying, ensure you meet the eligibility criteria set by Karnataka Bank for the SimplySAVE SBI Card. This may include factors such as age, income, and credit score.

2. Gather Required Documents:

  • Collect all the necessary documents, including identity proof, address proof, income proof, passport-sized photographs, employment proof, and bank statements. Ensure that the documents are up-to-date and meet the bank’s requirements.

3. Visit the Karnataka Bank Website:

  • Go to the official website of Karnataka Bank or the SBI Card website. Navigate to the credit card section, specifically the page for the SimplySAVE SBI Card.

4. Fill in the Online Application Form:

  • Complete the online application form with accurate details. Provide personal information, contact details, employment details, and financial information as required. Double-check the information before submitting.

5. Submit Documents and Wait for Approval:

  • Upload the scanned copies of the required documents as specified in the application form. After submission, the bank will review your application and documents. If approved, you will receive further instructions, and the credit card will be dispatched to your registered address.

Frequently Asked Questions (FAQs)

1. What is the Karnataka Bank SimplySAVE SBI Card?

The Karnataka Bank SimplySAVE SBI Card is a credit card offered in collaboration with SBI Card. It provides various benefits, including rewards, cashback, and discounts on specific transactions.

2. How can I apply for the Karnataka Bank SimplySAVE SBI Card?

You can apply for the card by visiting the official website of Karnataka Bank or SBI Card. Complete the online application form, providing the required details and submitting the necessary documents.

3. What are the eligibility criteria for the SimplySAVE SBI Card?

Eligibility criteria may include factors like age, income, and credit score. It is advisable to check the specific requirements set by Karnataka Bank for the SimplySAVE SBI Card.

4. What documents are required for the application process?

Commonly required documents include identity proof, address proof, income proof, passport-sized photographs, employment proof, and bank statements. Refer to the bank’s guidelines for the exact document requirements.

5. What are the annual fees and renewal charges for the card?

The card may have a one-time annual fee and an annual renewal fee. Refer to the latest terms and conditions or contact the bank for the specific fee structure associated with the SimplySAVE SBI Card.

6. How long does it take for the card application to be processed?

The processing time varies, but once you submit the application with all required documents, the bank will review your application. If approved, you will receive further instructions, and the card will be dispatched to your registered address.

7. What are the interest rates for extended credit on the SimplySAVE SBI Card?

Interest rates may vary based on the outstanding amount and the repayment period. Refer to the terms and conditions or contact the bank for detailed information on interest rates.

8. Can I get an add-on credit card with the SimplySAVE SBI Card?

Yes, the SimplySAVE SBI Card may offer add-on credit cards with no additional fee. Check with the bank for specific details and conditions.

9. How do I check my SimplySAVE SBI Card balance and transactions?

You can check your card balance and transactions through online banking, mobile apps, or by contacting the customer service of Karnataka Bank or SBI Card.

10. What should I do if my SimplySAVE SBI Card is lost or stolen?

In case of loss or theft, immediately contact the bank’s customer service to report the incident. The bank will guide you through the process of blocking the card and issuing a replacement.