State Bank of India (SBI) is the largest public bank in India and its credit card features have been developed to meet personal and business requirements. These cards not only provide shopping and travel savings, but also provide rewards bonuses and other facilities.
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The SBI Credit Card gets widespread updates in both domestic and foreign, this helps users to manage financial relations in the best way.
Business and personal expenses can be easily paid through these cards, which benefit users. In addition, these cards provide various benefits such as programs that promote shopping, travel, and rewards.
What is SBI Credit Card?
SBI Credit Card is a financial device released by State Bank of India. Through this, users can take loans for goods and services.
Card holders are given a certain credit limit, under which they can spend and pay it every month.
In addition, SBI Credit Card also provides users’ savings, rewards bonuses, and special offers facilities.
This card is widely approved in indigenous and foreign markets, this leads to the advantage of credibility and coverage to users.
SBI Credit Card Charges
| Type of Charge | Details |
|---|---|
| Annual Fee | Varies by card type; often waived for the first year |
| Finance Charges | Typically 3.35% per month (40.2% annually) on outstanding balances |
| Late Payment Charges | ₹100-750 depending on the outstanding amount |
| Overlimit Charges | 2.5-3% of overlimit amount, minimum ₹500 |
| Foreign Currency Markup | Up to 3.5% on transactions made in foreign currencies |
SBI Credit Card Features
State Bank of India (SBI) offers a variety of credit cards with diverse features tailored to meet different financial needs and lifestyles. Here are the key features of SBI credit cards:
The following are some of the main features of SBI Credit Card:
- SBI credit cards provide comprehensiveness in India and internationally, which makes users ease of financial transactions.
- Rewards points are earned on each purchase, which can be redeemed in gifts, vouchers, or cashbacks.
- Take advantage of special discounts on shopping, food, travel etc. with partner traders and brands.
- If the dues of the previous month have been fully paid, then the purchase is available for about 50 days without interest.
- Turn large shopping into easy monthly payments, including attractive interest rates.
- Tap and pay facility for fast and safe transactions on appropriate traders.
- Some SBI cards provide travel insurance, responsibility of lost card etc.
- Additional cards can be given to family members connected to the main card.
- Track the transaction, pay bills, and manage rewards by reaching the account online or through mobile app.
- 24/7 available customer support services are available that help in questions, card blocking, and emergency assistance.
SBI Credit Card Interest Rate
The interest rate on SBI credit cards ranges from 3.35% to 3.49% per month, translating to an annual percentage rate (APR) of approximately 40.2% to 41.88% on revolving balances.
SBI Credit Card Eligibility
- Age: 21-60 years.
- Income: Minimum income requirement based on the card type.
- Credit score: Generally a good credit score (750 or above).
SBI Credit Card Documents
- Proof of Identity: Aadhaar Card, Passport, Voter ID, Driving License, PAN Card.
- Proof of Address: Aadhaar Card, Passport, Utility Bill (not older than 2-3 months), Bank Statement, Rent Agreement.
- Income Proof: Latest Salary Slip, Form 16, Income Tax Returns (ITR), Bank Statements showing salary credits for the last 3 months.
Additional Documents (if applicable):
- For Self-Employed: Business Proof, Income Tax Returns (ITR) for the last 2 years, Bank Statements for the last 6 months.
- For NRIs: Passport Copy, Overseas Address Proof, NRE/NRO Bank Statements for the last 3 months, Employment Proof (if employed abroad).
Ensure documents are clear, valid, and self-attested for a smooth application process. Submit them online or at an SBI branch to complete your credit card application.
SBI Credit Card Apply
Apply online through the SBI website or visit a branch with required documents. Fill out the application form and submit.
- Required Document Collection : Before starting the application process, prepare your identity, address, and income proven documents (Aadhaar card, passport, voter ID, driving license, PAN card, suitable bill etc.).
- Login on SBI Card Website: Go to the official website of SBI card and log in to your account.
- Fill the application form: Fill the required information such as name, address, contact information, and income details.
- Upload required documents: Upload the required document (photocopy without acceptance).
- Submit: Submit the application form and check the updated position.
- Confirmation of application: After submitting the application, your document and details will be confirmed by SBI.
- Card Receipt: After your application is approved, you will get SBI Credit Card and you can get it by the method you have chosen.
SBI Credit Card Limit
Credit limits vary based on income, credit history, and the type of card. It can range from ₹25,000 to several lakhs.
SBI credit cards offer a robust array of benefits tailored to different lifestyles, with options catering to various financial needs. However, potential users should be aware of the associated fees and interest rates to make informed decisions. Whether for everyday purchases, travel, or special occasions, SBI credit cards provide convenient and flexible payment solutions.
