SBI SimplySAVE Credit Card

The SBI SimplySAVE credit card is an excellent choice for those looking to start their credit journey. With an annual fee of just Rs. 499, it offers a generous welcome bonus of 2000 reward points. This card is particularly advantageous for newcomers to credit, helping them save on everyday essentials like groceries, movies, and department store purchases by earning accelerated reward points.

Furthermore, cardholders can enjoy an annual fee waiver by spending Rs. 1 lakh or more using the card. While it doesn’t provide extensive travel, dining, or entertainment privileges, the SBI SimplySAVE card is tailored for beginners seeking a straightforward entry-level credit card.

If you want to delve deeper into the card’s benefits, features, and associated fees and charges, keep reading for more information.

Key Highlights of SBI SimplySAVE Credit Card

Joining Fees: Rs 499
Annual Fees: Rs 499 (reversed on Rs 1 Lakh Spends in the previous year)

Features and Benefits of SBI SimplySAVE Credit Card

Below, you can find the benefits and features of the SBI Simply Save credit card:

  1. Earn 2,000 Extra Reward Points (RPs) valued at Rs. 500 when you spend Rs. 2,000 within the initial 60 days following card activation.
  2. Enjoy a 1% fuel surcharge waiver on every fuel transaction ranging from Rs. 500 to Rs. 3,000. Please note that a maximum of Rs. 100 per month can be waived in this category.
  3. Get the annual renewal fee for the card waived if your spending exceeded Rs. 1 lakh in the previous year.
  4. Earn one Reward Point for every Rs. 100 spent on the card.
  5. Receive 10 times Reward Points (equivalent to a 2.5% reward rate) for every Rs. 100 spent on dining, department stores, movies, and groceries.

SBI SimplySAVE Credit Card Fees and Charges

It’s crucial to have a clear understanding of the fees and charges associated with a credit card before applying for one. While the annual fee is a notable component, credit cards come with various other charges, such as interest rates, foreign exchange markup fees, cash advance fees, and more. Below, you’ll find a breakdown of the fees and charges applicable to the SBI SimplySave Card:

1. Joining and Annual Fee:

  • Joining Fee: Rs. 500
  • Annual Fee: Rs. 500

2. Interest Rates:

  • Monthly Interest Rate: 3.5%
  • Annual Interest Rate: 42%

3. Cash Advance Fee:

  • 2.5% on the amount withdrawn, with a minimum charge of Rs. 500.

4. Foreign Currency Markup Fee:

  • 3.5% of the transaction amount.

SBI SimplySAVE Credit Card Eligibility

The eligibility requirements you must fulfill to apply for the Card:

  • Age Range:
    Between 21 and 70 years
  • Occupation:
    Either self-employed or salaried

Documents Required for SBI SimplySAVE Credit Card

To ensure the accuracy of the information provided in your credit card application, you will need to upload or submit certain documents to your card issuer. Here is a list of the required documents for applying for the SimplySave Card:

1. Proof of Identity:

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

2. Proof of Address:

  • Aadhar Card
  • Ration Card
  • Utility Bills
  • Passport
  • Driver’s License

3. Proof of Income:

  • Latest Bank Statement
  • Latest Salary Slips
  • Latest Audited Financial Reports

How to apply for SBI SimplySAVE Credit Card

The Simply Save Card offers two convenient application methods, catering to your preferences – online or in-person.

For those who prefer the offline route, simply visit your nearest SBI branch and approach the branch executives to obtain a physical application form for the SimplySave Card. Carefully complete the form and then submit it.

Alternatively, if you opt for the online application process, follow these easy steps:

  1. Visit the official SBI Card website at https://www.sbicard.com/
  2. Locate the ‘Apply’ column and click on ‘Apply Now.’
  3. On your screen, you will find a list of available cards.
  4. Select the SBI SimplySave Card and click the ‘apply now’ button.
  5. Complete all the mandatory fields with your information and submit the application form.

Frequently Asked Questions (FAQs)

Q1: What is the SBI SimplySAVE Credit Card?
A1: The SBI SimplySAVE Credit Card is a credit card offered by the State Bank of India (SBI) that is designed to provide users with rewards and benefits on their everyday expenses.

Q2: How can I apply for the SBI SimplySAVE Credit Card?
A2: You can apply for the SBI SimplySAVE Credit Card online through the official SBI website or by visiting a nearby SBI branch. The application process typically involves filling out an online form and submitting necessary documents.

Q3: What are the key features of the SBI SimplySAVE Credit Card?
A3: The key features include accelerated rewards on grocery, dining, and movie spends, milestone rewards, fuel surcharge waiver, and worldwide acceptance. It is designed to cater to the everyday needs of cardholders.

Q4: What is the annual fee for the SBI SimplySAVE Credit Card?
A4: The annual fee for the SBI SimplySAVE Credit Card is communicated by SBI at the time of application. Sometimes, the annual fee may be waived off for the first year or subsequent years based on spending patterns.

Q5: How does the reward points system work on the SimplySAVE Credit Card?
A5: Cardholders earn reward points on various categories such as grocery, dining, and movies. These points can be redeemed for a variety of options, including gift vouchers, merchandise, and more. The exact earning and redemption rates may vary.

Q6: Is there a joining bonus with the SBI SimplySAVE Credit Card?
A6: SBI often provides joining bonuses or welcome gifts to new cardholders. These offers may change, so it’s advisable to check the latest promotions at the time of application.

Q7: Can I convert my purchases into EMIs with the SBI SimplySAVE Credit Card?
A7: Yes, the SBI SimplySAVE Credit Card offers the option to convert your purchases into easy monthly installments (EMIs). This can be done through the SBI Card website or customer service.

Q8: What is the interest-free period on the SBI SimplySAVE Credit Card?
A8: The interest-free period on the SBI SimplySAVE Credit Card is usually up to 20-50 days, depending on the billing cycle and the date of the transaction. It is important to pay the outstanding amount within this period to avoid interest charges.

Q9: How can I check my SBI SimplySAVE Credit Card balance and transactions?
A9: You can check your SBI SimplySAVE Credit Card balance and transactions through the SBI Card website, mobile app, or by contacting the SBI Card customer service.

Q10: Is there a foreign transaction fee on the SBI SimplySAVE Credit Card?
A10: Yes, there is usually a foreign transaction fee applicable to transactions made in foreign currencies. It’s recommended to check the latest fee structure provided by SBI for international transactions.