State Bank of India is one of the oldest and trusted banking institutions in the country. It has a long history of serving both people and businesses, and therefore, it is no surprise that the credit cards that are issued by the bank are one of the most famous and trustworthy ones in the entire country. Being a SBI credit card owner is seen as a sign of creditworthiness and high financial status. In this article, we shall take a look at the various SBI credit cards that are available and examine various aspects these credit cards have to offer.
Being a reputed institution, it is but natural to expect a plethora of SBI credit card types that a customer could avail from SBI. Each card has an unique characteristic that is related to the function and services that it has to offer. This and the trust of the customers make SBI credit cards an obvious choice for people wishing to have a credit card in the first place. It would be therefore pertinent to observe how the various aspects come together that form the edifice around which SBI’s fame rests, and the respect of its credit cards are kept intact.
In an oligopoly market where different banks and their credit cards compete with each other to take a significant lead over the others, this question seems to be a very natural one. Rather, it could be framed as: what makes SBI credit cards different from that of its respective competitors? The answer is not too hard to guess – one need only lok at SBI’s organizational history and how since its present inception (circa 1856), it has dedicated itself in providing an exemplary financial services to both businesses and individual customers. The prestige, plus the amount of consumer oriented policies and plans, make it a popular choice for many people to opt for SBI not only for banking services, but to also possess a credit card that is issued by them.
Therefore, given the amount of trust and privilege that it holds, SBI provides every kind of assistance and concessions to people who wish to have a credit card. It offers various kinds of credit cards that suit the individual needs of its respective users. Whether you are a top notch businessman or just a regular, salaried employee, a card exists that would seamlessly integrate itself to your financial requirements. And SBI credit cards serve that purpose, becoming an extension of your financial abilities.
We shall take a glance at the various ways you can apply for a credit card that is issued by SBI, and it merely depends upon the technique you find to be convenient and easy. Be it offline or online, we are going to provide the necessary details that you need to know, before you become the proud owner of a SBI credit card.
As we have noted from the above, when you apply for SBI credit cards you have two basic options that open out to you: offline and online application. In this section, we will consider the methods and advantages of offline application.
Before the Internet arrived, a person had to personally visit the branch of the bank concerned and, along with the required documents, apply for a credit card. This was the norm for a very long time until the Internet made the entire process an obsolete one. Nonetheless, for all the monopoly of the World Wide Web, offline applications have still remained an important process for many people who desire to own a credit card. This is partly because many people are not tech savvy and partly because many places in India are not connected via digital means of communication. Therefore, many banks – including the State Bank of India – have maintained the facility of offline credit card application.
The advantages of this method are fairly obvious even to the lay person not associated with banking. Physically visiting the bank branch makes the process more face-to-face and transparent, boosting the bond between the banking staff and the applicant. The banking authority can physically examine the validity of the documents submitted by the applicant. This also increases the transparency of the entire procedure and the trust for the bank significantly increases. These are in fact the major benefits anyone could possibly hope for.
However, there are serious drawbacks too. Offline application procedures are very time consuming and in fact, often interfere with more important activities that deserve your attention. It involves going to the bank by yourself and pushing all other activities for later engagement. It is not only time consuming, but also energy consuming and emotionally taxing, as it increases the stress and tension experienced by the prospective credit cardholder.
Needless to say, these factors are certainly involved in getting your SBI credit card via offline means. But what if you consider applying for your SBI credit card online?
As we have dealt in the previous section, we have noted the pros and cons of offline credit card applications. Ever since the emergence of the Internet, however, banks have harnessed its power to reach out to a large number of customers who are desirous of applying for a credit card. This is nothing more than how technology ultimately affects the course of fiscal behaviour and financial transactions. The State Bank of India is no exception to this trend and it too followed suit, so that today it has a dedicated website for the very purpose.
The second method involves directly emailing the bank branch with the stated intention of applying for a SBI credit card. This may involve attaching the scanned copies of the relevant documents along with the email’s body and sending it to the bank for scrutiny.
The advantages to online application methods are pretty clear in sight: one can apply for SBI credit cards from the comfort and convenience of their homes, without having the need to physically go to the bank. This does not only save time but it also save effort, energy and it significantly reduces the stress of the individual who is applying for the credit card in question. It is quicker and it is faster to process, and relative to the offline methods of credit card applications, one can get their hands on their credit cards faster.
However, even though the Internet is a huge blessing for everyone, it also has its fair share of risks and danger. Personal information being released on the Internet is always prone to getting hacked by malicious elements, and identity theft is a very real possibility. Besides, the riskj of phishing – the process through which a hacker can gain your information by impersonating a genuine website – is indeed a scary prospect to consider.
The good news is, though, that banks like SBI have provided adequate security protocols for their websites, protecting the information that a user provides against malicious and malevolent elements. Also, they provide advisories from time to time that update customers on how to differentiate between a genuine webpage of the bank and of an unsecure, malicious website that is created by the phisher.
But as they say, there is always a third way, and that third way definitely focuses on the huge number of financial websites that have sprung up throughout the Internet. In the next section, we shall have a brief look at why, of all places, you should apply for SBI credit cards from Chqbook.
As we have already noted, there have emerged a number of financial websites that provide a wide array of services that have got to do with financial affairs, especially the application and ownership of credit cards. Such being the case, one can easily wonder why they should opt for Chkbook over every other available alternative. Well, the answer can’t be summed up in one, single sentence, so we give you a list of reasons why you should consider coming to us to get the best SBI credit card offers:
We have a seamless navigation mechanism that allows the visitor to easily make their way to the section which pertains to credit cards, chiefly SBI credit cards and SBI card types.
The user interface (or UI) is very simple and easy to understand. Anyone can graps the machinations of the website and apply for any kind of credit card that the State Bank of India has to offer.
While viewing the various credit cards by SBI, the customer can easily and comfortably view all the relevant information and compare them against each other, thereby arriving at the decision to apply for the most suitable card that is applicable to their lifestyle choices and other material considerations.
The steps regarding applying for a credit card are very simple and easy to remember. In fact, at Chqbook, our efforts are always directed at making the process more streamlined and refined than it was so that customers can get to experience the fluidity of action we are known for.
Lastly, and perhaps most importantly, buying a credit card requires one to be informed on the wider set of situations that affect the financial market from time to time. At Chqbook, we provide a detailed, analytical style in reporting news that discusses various movements in the world of credit cards and the wider world of the Indian financial market. Armed with this information, you can now easily select the proper kind of credit card by SBI, according to the prevailing conditions.
The aforementioned factors are testament to the manner in which we at Chqbook take sufficient measures to ensure that your experience in applying for a SBI credit card doesn’t get hindered due to any kind of obstacle or security threat. In such an environment, you can comfortably brose through the various SBI credit card types that are available on the site. Therefore, we’d recommend strongly to make your applications through Chqbook as it is convenient, easy, free and you have the power to compare and analyze the relative merits and demerits of every card that you come across.
As we know, different kinds of credit cards – even when issued by the same card provider – have a specific set of features and benefits that are associated with them, giving them their own individual, unique brand identity. However, even in such a scenario, all of the credit cards are going to have a common set of features as well as a common list of benefits that the cardholder could profit from, regardless what type of card they are going to use. Given below are some of the common features one can find in all SBI credit cards:
All SBI credit cards can be used both within and without the territory of India. This allows you to carry your card anywhere and use it at any kind of retail outlet anywhere in the world. If you are planning on international travel, this is a very utilitarian feature.
All the SBI credit card types have a balance transfer feature. By using this feature, you can transfer the outstanding balance from your existing credit card to a new credit card of a new bank, if you happened to have chosen the new card due to its low rate of interest.
You are able to change your monthly transactions into monthly instalments, or EMIs. You can set the tenure within which you can repay the EMI amount, and at the same time the bank can encourage you to do so by offering you attractive rates of interest. Sometimes it may allow an interest free repayment; it all depends upon the kind of card that you are using ion the first place.
A very handy feature of SBI credit cards is that you can use it to pay off your utility bills on the go. You can either physically swap your credit card or enter its details online, while paying the expenses that you incur for availing utility services (like electricity bills or phone bills, etc). Not only this, but with this feature, the bank would itself notify you of the upcoming payment date and the results of the deduction after you have paid your bills, successfully.
Like a lot of other credit cards in the market, the credit cards that are offered by SBI too contain either a joining fee or an annual fee. Simply speaking, a joining fee is the amount a new cardholder has to pay when they get hold of their sanctioned credit card. Where a joining fee is not involved, a cardholder has to pay an amount on an annual basis in order for them to renew the validity of their credit cards. Depending on the card, the bank can accordingly vary the amounts that are payable as the joining or the annual fee, respectively. In some cases, the bank could exempt a card from both kinds of fees.
If and when a fraudulent transaction occurs, the bank can offer a liability coverage that would essentially protect you from any kind of loss of money as a consequence of such a transaction. This feature is available only when it is reported to the bank’s authorities.
You can use your SBI credit card to access ATMs and withdraw money from them. For this useful service, the bank would necessarily charge a small fee but considering that you can withdraw money from anywhere at any time makes this feature a very indispensible one.
If you require any kind of help or assistance regarding your credit card, State Bank of India has an exclusive helpline number that provides assistance and helps to clear your doubts and queries regarding the card that you own, as well as make suggestions or complaints regarding your experience.
Lastly, and this could be considered as an important feature, in the sense that you can pay your credit card bills through any means possible, both offline and online. Offline methods can include NEFT, cheques, etc.
Since we have gone through the features of the credit cards that are offered by SBI, now it would be very pertinent to have a look at the various benefits all the cards have in common. They are as follows:
All the SBI credit cards have an assorted system of reward points, and they are awarded when a certain amount of money has been spent on using the credit card. The number of points one gains on using the card tends to be fixed and SBI credit card reward points vary from card to card and the amounts on whose spending such points could be earned vary as well. These points can be redeemed for gifts, discounts, etc.
For a fixed amount that you spend using your credit card, you get a cashback offer on certain SBI credit cards and the amount upon which such a scheme is applicable is usually decided by the bank.
In case you possess a credit card issued by SBI whose sole purpose is to assist you in your travelling experience, then you can get to avail travel insurance on it as well. Therefore, you need not worry about if something were to happen to you while on a journey now that you can secure the financial future of those who remain dependent on you.
In the event of you travelling by road, your credit card is eligible for a fuel surcharge waiver. This implies that on spending a certain amount of money on your card on fuel, the bank would itself pay the cost involved. Now, that is pretty useful, considering that this utility is available for petrol pumps all over India.
These are the features and benefits that are common to all SBI credit cards and they are available on every card. Now, as we have mentioned, there are specific features and benefits that are unique to each individual card and they serve specialized functions according to the purpose for which the card had been made, in the first place. This being the situation, you must now carefully ascertain the kind of credit card that would be appropriate to you, your lifestyle and to the expenses you incur on a monthly basis. Only by comparing the necessary information is it possible to choose the card that is congruent to your needs.
As far as eligibility is concerned, there are two primary factors that determine the eligibility of a person for being a credit cardholder: their age and their income. According to law, a minor can’t be the owner of a credit card and therefore, one has to be at least 18 years old and above to successfully apply for a credit card. The second factor that is considered is the amount of money the applicant earns within a given month or a year. Any other considerations that could determine the sanctioning of a SBI credit card are relatively secondary in aspect.
Consequently, we come to the documents that are required in the application procedure. Generally, there are three kinds of documents one needs to furnish when applying for a credit card: proof of identity, proof of address/residence and proof of income. In recent years, the first two documentation requirements have been able to be satisfied with by showing an Aadhar Card (or its photocopy). As for the proof of income, there are two distinct slabs in this case. If the applicant is a salaried employee, then they need to show their salary slip or employment letter to establish the authenticity of this fact. If the applicant is self-employed, then it is necessary to furnish either the profit and loss statement or the balance sheet for the concerned year. The officials at SBI would scrutinize these documents and would decide whether or not to sanction the credit card. If the bank is not satisfied, they have the right to ask for more documents.
|Different Types of SBI Cards® Credit Cards and Types||Joining Fee||Annual Fee|
|SimplyCLICK SBI™ Credit Card||499||0.00|
|SBI™ Card Prime||2999||0.00|
|SBI™ Card ELITE Advantage||4999||0.00|
|Air India SBI™ Signature Credit Card||4999||0.00|
There are a number of various SBI credit card types and as it has been mentioned before, they contain specific features and benefits that are intrinsic to the type of functions that they discharge for the cardholder. Therefore, it is more than necessary to know and be acquainted with the various categories of credit cards State Banof India has to offer. They include the following:
Lifestyle cards from SBI include:
SBI Card Elite: A welcome e-gift voucher worth 5,000 rupees on joining, free movie tickets – which are worth 6,000 rupees – per year, 50,000 as bonus points on spending 12,500 per year and complimentary membership to Club Vistara and Trident Privilege Program.
SBI Card Elite Advantage: Contains the same set of features as the first card does.
Reward cards are credit cards that contain a reward system for spending a particular amount. They include:
SBI Card Prime: Welcome e gift voucher worth 3,000 rupees, spend linked vouchers worth 11,000 rupees, 10 reward points per 100 rupees spent on dining, groceries, departmental stores and movies and complimentary international and domestic airport lounge access.
SBI Card Prime Advantage: Contains the same set of features as the first card does.
Shopping cards are usually used to get amazing discounts and offers on shopping. They include:
SimplyCLICK SBI Card: Amazon.in gift card worth 500 rupees on joining, five times the normal rate of reward points on online spending, tent times the rate of reward points on online shopping with exclusive partners and e-vouchers worth 2,000 rupees on annual online spends of 1 lakh and 2 lakh rupees, each.
SimplySAVE SBI Card: 2,000 bonus points on spending 2,000 rupees in the first sixty days, 10 reward points per 100 rupees spent on dining, movies, departmental stores and grocery spends, annual fees reversal on spending 90,000 rupees and above and a one percent fuel surcharge waiver across all petrol pumps.
Travel and fuel credit cards give the cardholder an unmatched access to the joys and benefits of travel. They include:
BPCL SBI Card: 2,000 activation bonus reward points worth 500 rupees as a welcome gift, a 4.25% value back and 13 times the rate of reward points earned on spending 100 rupees on fuel and five times the rate of earning reward points on every 100 rupees spent on groceries, departmental stores, dining, movies and utilities.
Yatra SBI Card: Welcome gift vouchers worth 8,520 rupees, 1,000 rupees off of domestic airfare, 4,000 rupees off of international flight booking and 20% off of domestic hotel bookings.
Frequently asked questions (or FAQs) are a normal part of running any big or significant sort of operation, and SBI’s credit cards are nothing short of big. In fact it can be assumed that the biggest credit card services of the country are undertaken by State Bank of India. Consequently, there would be a plethora of questions coming in from every quarter of the populace. From businessmen and corporate tycoons to the common salaried employee, the bank needs to keep all of their customers aware of how the credit cards work and in what ways would they be able to reap the most out of the features and benefits that the various SBI credit card types have to offer. Some questions could be simple and easily be answered, while other questions can be complex and it might involved a detailed answer and a thorough explanation of each aspect that is involved with regards to the processes that the question in itself seeks to understand. In all these scenarios, SBI perfectly provides an outlet for all of these questions and gives the public satisfaction and contentment regarding how the bank deals with every aspect in running the credit cards and in providing solutions to troubles and problems that may crop up from time to time.
Common FAQ topics might range from knowing the number of days SBI would consider as the grace period to the rate of interest that one needs to pay when they are paying the EMI. Or, it could include questions regarding the validity of the card with regards to time or if it is a card that is free for use for the card’s liufetime. Complicated questions are rare, but they can involve such topics like the basis on which the interest rate is determined, or the nature of partnerships with other businesses (especially when it comes to lifestyle and travel cards), the implication of the fuel surcharge waiver and how much the bank would cover in the event of a liability coverage actually transpiring. Theser are some of the common and complex questions one can encounter.
To conclude, one can safely say that in its service and dedication, State Bank of India is certainly unmatched and the crown jewel of such feats of perseverance and effort can be seen in the SBI credit cards millions of people throughout the country use. This reflects their trust, their confidence, their efforts and energies and it makes it possible for them to get the most out of life by using these credit cards to not only make their businesses grow but to also the cherish the fruits of their hard earned labour.
Free annual membership fee to those registered with Air India Frequent Flyer Program with returns.
You can access cash from anywhere with over 1 million Visa ATMs in more than 100 countries around the world.
Daily purchases now made easy with SBI Card PRIME. Simply wave your card at a secure reader to transact
For Rs. 1 lakh and Rs. 2 lakh spent online annually, customers receive e-gift vouchers valued at Rs. 2000 each.