Everything You Need to Know About the SBI SimplySAVE Credit Card
16 Jan 2025 5 mins Credit Cards
Looking for a credit card that offers rewards and value for everyday spending? The SBI SimplySAVE Credit Card is an excellent choice for those who want to maximize benefits on dining, movies, and grocery purchases while keeping charges affordable. With features like reward points, fee waivers, and worldwide acceptance, it stands out as a smart financial tool.
Key Features of the SBI SimplySAVE Credit Card
1. Rewarding Welcome Offer
Spend ₹2,000 or more within the first 60 days of card issuance and earn 2,000 bonus Reward Points.
This is an effortless way to start enjoying the benefits of your card from day one.
2. Reward Points on Everyday Spending
Earn 10 Reward Points per ₹150 spent on:
Dining
Movies
Grocery purchases
Departmental stores
On all other spends, earn 1 Reward Point per ₹150 spent.
With these reward categories, you can maximize your benefits on essential and lifestyle expenses.
SimplySAVE SBI Card Benefits
Fee Reversal for High Spenders
The SimplySAVE SBI Card annual fee of ₹499 can be reversed if you spend ₹1,00,000 or more in the previous year. This feature makes it cost-effective for frequent users.
Easy Redemption of Reward Points
Use your Reward Points to:
Pay off outstanding balances.
Redeem against a wide range of products from the Rewards Catalogue.
Note: 4 Reward Points = ₹1.
Fuel Surcharge Waiver
Enjoy complete fuel freedom by avoiding the 1% fuel surcharge on transactions between ₹500 and ₹3,000 at any petrol pump in India.
Contactless Payment Convenience
Simply wave your card at a payment terminal for secure, hassle-free transactions.
No need to hand over your card or enter PINs for small purchases.
SimplySAVE SBI Card Charges and Fees
Fee Type | Amount |
Annual Fee | ₹499 |
Renewal Fee | ₹499 (waived on annual spends of ₹1,00,000 or more) |
Add-on Card Fee | Nil |
Transparent Fee Structure
Annual Fee: ₹499.
Renewal Fee: ₹499 (waived on annual spends of ₹1,00,000 or more).
Add-on Card Fee: Nil.
Interest Rates
The card has competitive interest rates, ensuring that your credit usage remains manageable.
SimplySAVE UPI SBI Card Eligibility
To be eligible for the SimplySAVE SBI Card:
You must be an Indian resident aged between 21 and 65 years.
You should have a stable income source.
A good credit score is essential for approval.
By meeting these requirements, you can unlock the door to exciting rewards and benefits.
How to Apply for the SBI SimplySAVE Credit Card
Step-by-Step Application Process
Visit the SBI Card official website.
Click on the SimplySAVE SBI Card section.
Fill out the application form with your personal and financial details.
Upload the required documents.
Submit the form and wait for approval.
Additional Benefits of the SBI SimplySAVE Credit Card
Worldwide Acceptance
The SBI SimplySAVE Credit Card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India. This makes it an excellent choice for domestic and international travelers.
Add-On Cards
Share the benefits of your card with your loved ones. Add-on cards are available for family members aged 18 years or older, with no additional fee.
Utility Bill Payments Made Easy
Pay electricity, telephone, and mobile bills using the Easy Bill Pay feature. This service simplifies your financial management.
Balance Transfer on EMI
Transfer the outstanding balance from other credit cards to your SimplySAVE SBI Card and enjoy:
Lower interest rates.
Flexible EMI repayment options.
SimplySAVE SBI Card Charges Breakdown
Cash Withdrawal Fee: 2.5% of the transaction amount (minimum ₹300).
Late Payment Fee: Ranges from ₹0 to ₹1,300, depending on the amount due.
Overlimit Fee: 2.5% of the overlimit amount (minimum ₹600).
Understanding these charges ensures that you use your card responsibly and avoid unnecessary fees.
Security Features of the SimplySAVE SBI Card
The contactless payment feature ensures your card stays in your hand during transactions, reducing the risk of fraud. Additionally, Visa payWave technology ensures that only one transaction is processed, even if the card is waved multiple times.
Conclusion
The SBI SimplySAVE Credit Card is a versatile and rewarding financial tool that caters to various spending needs. With its focus on rewards, fee reversals, and easy redemption options, it’s perfect for anyone looking to save on everyday expenses while enjoying exclusive perks. Whether you’re a movie enthusiast, foodie, or frequent traveler, this card has something for everyone.
FAQs
1. What are the SimplySAVE SBI Card benefits?
The card offers 10x Reward Points on dining, movies, and groceries, fuel surcharge waivers, and contactless payment convenience.
2. How much is the SimplySAVE SBI Card annual fee?
The annual fee is ₹499, which can be waived if you spend ₹1,00,000 or more in a year.
3. What are the SimplySAVE SBI Card charges for cash withdrawal?
A 2.5% fee is charged on cash withdrawals (minimum ₹300).
4. What is the SimplySAVE UPI SBI Card eligibility?
Eligibility requires being an Indian resident aged 21–65, with a stable income and a good credit score.
5. How can I redeem Reward Points on my SBI SimplySAVE Credit Card?
Reward Points can be redeemed to pay outstanding balances or exchanged for gifts from the Rewards Catalogue.
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Author - Abhishek Sonawane
Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam (IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.