OLA Money SBI Credit Card

The OLA Money SBI credit card, a collaboration between SBI and OLA Money, stands out as a fundamental offering among SBI Credit Cards. With no joining fee, it brings along enticing welcome gifts like flight vouchers and EaseMyTrip vouchers. The card entails a modest renewal fee of Rs. 499, which becomes void upon spending Rs. 1 lakh or more in the preceding year. Additionally, the card offers 1% Reward Points on all expenditures and a notable 7% Reward Points specifically on Ola rides. Conveniently, these earned reward points are automatically deposited into your OlaMoney wallet, making redemption a seamless process.

Key Highlights of OLA Money SBI Credit Card

  1. Receive a 1% Reward Point on every purchase you make.
  2. Enjoy a generous 7% Reward Points back on all OLA rides.
  3. Get a 5% cashback when booking flights.
  4. No Joining fee is applicable.
  5. Earn up to 10% cashback on hotel bookings.
  6. Benefit from a spend-based waiver on the renewal fee.

Features and Benefits of OLA Money SBI Credit Card

The OLA Money SBI Credit Card offers several features and benefits:

1. OLA Ride Rewards:

General Spends:

  • Earn 7% reward points on all expenditures made on OLA.
  • Accumulated reward points will be deposited into your OLA Money Wallet.

Other Spends:

  • Receive 1% reward points for all non-OLA card expenditures.
  • Automatic crediting of reward points to your OLA Money wallet.

2. Reward Point Benefits:

Travel Spends:

  • 5% cashback on flight tickets booked through Cleartrip.
  • Up to 10% cashback on domestic hotel bookings via Cleartrip.
  • 6% cashback on international hotel bookings through Cleartrip.
  • 12% cashback on all activities booked on Cleartrip using the Ola Money SBI Card.

Fuel Benefits:

  • Fuel Transactions:
  • Enjoy a waiver of 1% fuel surcharge on all fuel transactions nationwide.
  • Maximum monthly waiver capped at Rs. 100.

OLA Money SBI Credit Card Fees and Charges

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

  1. Ola Money SBI Card has no joining fee and an annual fee of Rs. 499, which can be waived by spending Rs. 1 lakh or more in the previous year.
  2. The interest rate on the card can reach up to 3.5% per month.
  3. Cash advance fee on the SBI Ola Money Credit Card is 2.5% of the withdrawn amount, with a minimum of Rs. 500.
  4. The foreign currency markup fee for this credit card is 3.5% of the total transaction amount.

Eligibility Criteria for OLA Money SBI Credit Card

Here are essential criteria for applying for an OLA Money SBI Credit Card:

  1. Salaried individuals must fall within the age range of 18 to 65 years.
  2. Self-employed individuals should have an age between 21 and 60 years.
  3. A stable source of income is a prerequisite for all applicants.

Documents Required for OLA Money SBI Credit Card

To apply for the Ola Money SBI Card, you will typically need to provide the following documents:

1. Identity Proof:

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

2. Address Proof:

  • Passport
  • Utility bills
  • Voter ID
  • Aadhar Card
  • Driving Licence
  • Rent agreement
  • Municipal or property tax receipt
  • House allotment letter issued by central or state government

3. Income Proof:

For Self-Employed Individuals:

  • Latest ITR (Income Tax Return)
  • Form 16

For Salaried Employees:

  • Salary slip of the latest months

How To Apply for OLA Money SBI Credit Card?

Follow these steps to apply for the OLA Money SBI Credit Card:

  1. Ola Money SBI Credit Card was initially accessible by invitation only.
  2. Presently, the card application process has been simplified, and anyone can apply for it.
  3. To apply through the Ola app, download it and locate the credit card banner.
  4. Click on “apply” to initiate the application process.
  5. An alternative method is to visit the SBI Card’s website and complete the application form.
  6. After submitting the form, a representative will contact you to schedule a date and time for document collection.
  7. The bank will then verify the submitted documents, and upon successful verification, dispatch the credit card to you.

Frequently Asked Questions (FAQs) –

Q: How can I apply for the Ola Money SBI Card?

A: You can apply for the Ola Money SBI Card through the Ola app by clicking on the credit card banner and following the application process. Alternatively, you can visit the SBI Card’s website and fill out the application form.

Q: Is the Ola Money SBI Credit Card by invitation only?

A: No, it was initially available by invitation only, but now anyone can apply for the card through the Ola app or SBI Card’s website.

Q: What is the process after submitting the online application form?

A: After submitting the form, a representative will contact you to schedule a date and time for document collection. The bank will then verify the documents, and upon successful verification, dispatch the credit card.

Q: Can I apply for the Ola Money SBI Credit Card if I don’t use the Ola app?

A: Yes, you can apply for the credit card by visiting the SBI Card’s website and completing the application form, even if you don’t use the Ola app.

Q: What are the benefits of the Ola Money SBI Card?

A: The benefits may include Ola Money cashback, rewards on specific transactions, fuel surcharge waiver, and other perks. Refer to the specific terms and conditions for the most accurate information.

Q: How long does it take to receive the Ola Money SBI Card after verification?

A: The timeline may vary, but typically, after document verification, the bank will dispatch the credit card. The exact duration can be confirmed during the application process.

Q: Can I track the status of my Ola Money SBI Credit Card application?

A: Yes, you can usually track the status of your application through the Ola app or the SBI Card’s website. Check the provided tracking options for real-time updates.

Q: Are there any specific eligibility criteria for the Ola Money SBI Credit Card?

A: Yes, there are eligibility criteria related to age, income, and creditworthiness. Refer to the official terms and conditions or contact SBI credit card customer care for detailed information on eligibility.

Q: Is there an annual fee for the Ola Money SBI Credit Card?

A: Check the terms and conditions for the most current information on fees and charges associated with the credit card, including annual fees and any applicable charges.

Q: Can I use the Ola Money SBI Credit Card internationally?

A: The card’s international usability depends on the terms and conditions set by SBI Card. Refer to the card features or contact customer service for information on international usage.