The sbi simply save credit card benefits is one of the most popular cards offered by SBI due to its simple yet rewarding features. It provides numerous benefits to cardholders, ranging from reward points on purchases to fee waivers based on usage. Let’s explore the detailed benefits of this credit card and why it stands out in the market.
Table of Contents
Introduction to SBI Simply Save Credit Card
The SBI Simply Save Credit Card is designed for those who want to make their everyday expenses more rewarding. With an affordable annual fee of Rs. 499 and a renewal fee of Rs. 499, it offers excellent value for money. This card is perfect for anyone who frequently spends on dining, movies, grocery shopping, and department stores. Additionally, the cardholder gets access to attractive reward points and exclusive offers.
Privileges of the SBI Simply Save Credit Card
The SBI Simply Save Credit Card comes with an array of privileges that make it stand out. One of the most notable features is its welcome bonus. If you spend Rs. 2,000 or more within the first 60 days, you will receive 2,000 bonus reward points. This initial reward can be a great way to kick-start your journey with the card.
Welcome Offer
New users can take advantage of the welcome offer, which provides Rs. 100 cashback on your first ATM cash withdrawal if done within the first 30 days of receiving your card. This is a simple yet effective benefit, especially if you’re in need of cash early on.
Reward Points System
The reward points system is one of the most lucrative features of the SBI Simply Save Credit Card. You can earn:
- 10x Reward Points for every Rs. 150 spent on dining, movies, departmental stores, and grocery shopping.
- For all other categories, you earn 1 Reward Point per Rs. 150 spent.
These reward points can be redeemed for various gifts or used to pay your outstanding credit card bill. Every 4 Reward Points are equal to Rs. 1.
Information in Table format
| Feature | Description | Real-Life Example |
|---|---|---|
| Introduction to SBI Simply Save Credit Card | A credit card designed for everyday expenses with an annual fee of Rs. 499, renewal fee of Rs. 499, and reward points on dining, movies, grocery shopping, and departmental store purchases. | A family man frequently spends on groceries and dining out, making this card ideal to earn rewards while covering day-to-day expenses. |
| Welcome Offer | Spend Rs. 2,000 or more in the first 60 days and get 2,000 bonus reward points. First ATM cash withdrawal within 30 days gives Rs. 100 cashback. | A young professional uses the card to buy new office clothes worth Rs. 2,500 and receives 2,000 reward points along with Rs. 100 cashback on the first cash withdrawal. |
| Reward Points System | 10x reward points on Rs. 150 spent on dining, movies, departmental stores, and grocery shopping. Earn 1 reward point for all other categories. | A movie enthusiast spends Rs. 600 on a movie date and earns 40 reward points (10x for every Rs. 150). |
| Fuel Surcharge Waiver | 1% fuel surcharge waiver on fuel transactions between Rs. 500 and Rs. 3,000 at petrol pumps across India. | A daily commuter spends Rs. 2,000 on fuel each month, saving Rs. 20 each time thanks to the surcharge waiver. |
| Spend-Based Annual Fee Reversal | If annual spending exceeds Rs. 1,00,000, the renewal fee of Rs. 499 for the second year is waived. | A frequent traveler spends Rs. 1,50,000 annually on flights and hotels, easily crossing the Rs. 1,00,000 mark and having the renewal fee waived. |
| Worldwide Acceptance | Accepted at over 24 million outlets worldwide, including 3,25,000 in India. | A globe-trotter uses the card at restaurants and stores during an international trip to London without worrying about acceptance issues. |
| Add-on Cards for Family | Add-on cards can be issued for family members above 18 years, such as spouse, parents, or children. | A parent gives an add-on card to their college-going child for managing their everyday expenses, helping them earn reward points. |
| Cash on the Go | Cash can be withdrawn from over 1 million ATMs worldwide. | A traveler in need of quick cash while abroad withdraws money from an ATM in Paris using the SBI Simply Save Credit Card. |
| Utility Bill Payments | Utility bills like electricity, phone, and mobile bills can be paid using the credit card. | A busy professional automates payment for their mobile, electricity, and gas bills with their SBI Simply Save Credit Card, saving time and earning reward points simultaneously. |
| Balance Transfer on EMI | Transfer balances from other credit cards to the SBI Simply Save Credit Card and pay them back at a lower interest rate with easy EMIs. | A person struggling with high-interest debt on another credit card transfers Rs. 50,000 to the SBI card and repays it at a lower interest rate over 6 months. |
| Flexipay: Convert Transactions into EMIs | Convert any transaction above Rs. 2,500 into easy monthly installments by logging into your SBI account within 30 days of the purchase. | A shopper buys a smartphone for Rs. 30,000 and converts it into a 12-month EMI plan using the Flexipay option for more manageable payments. |
| Contactless Transactions | Offers secure contactless payment for purchases by waving the card at a reader. Only one transaction is processed even if the card is accidentally waved multiple times. | A customer at a grocery store uses their card for a contactless payment, quickly tapping at the reader without needing to hand over the card to the cashier. |
| Security Features | Enhanced security with contactless features ensuring the card never leaves your hand, reducing the risk of theft or fraud. | A customer uses their card at a café and pays using the contactless feature, minimizing the chance of fraudulent activity as the card remains in their possession at all times. |
| Conclusion | The card is an excellent choice for everyday expenses with a reward points system, fuel surcharge waiver, spend-based fee reversal, and secure features. | A small business owner uses the SBI Simply Save Credit Card for routine expenses like groceries and fuel, earning rewards and enjoying fee reversals, all while benefiting from enhanced security features. |
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Fuel Surcharge Waiver
Fuel purchases often come with an extra surcharge, but with the SBI Simply Save Credit Card, you can enjoy complete freedom from this additional charge. If you transact between Rs. 500 and Rs. 3,000 at any petrol pump in India, the 1% fuel surcharge is waived, saving you on fuel expenses.
Spend-Based Annual Fee Reversal
One of the most appealing features is the annual fee reversal. If your annual spending exceeds Rs. 1,00,000, the renewal fee of Rs. 499 for the second year will be waived. This essentially makes the card free if you are a frequent spender, providing even more value.
Worldwide Acceptance
The SBI Simply Save Credit Card is widely accepted globally. You can use it at over 24 million outlets worldwide, including 3,25,000 outlets in India. This makes it ideal for international travelers who need a reliable payment method anywhere in the world.
Add-on Cards for Family
Empower your family members by issuing add-on cards with the SBI Simply Save Credit Card. These cards can be given to your spouse, parents, children, or siblings above the age of 18. It’s a convenient way to extend the card’s benefits to your loved ones.
Cash on the Go
Need cash in an emergency? The SBI Simply Save Credit Card allows you to withdraw cash from over 1 million ATMs worldwide. Whether you’re traveling internationally or need quick cash in India, the card provides easy access to funds when you need them most.
Utility Bill Payments
Paying your monthly bills has never been easier with the SBI Simply Save Credit Card. You can use the card to pay your electricity, phone, and mobile bills. This feature saves you the hassle of writing checks or visiting payment centers.
Balance Transfer on EMI
Do you have outstanding dues on another credit card? You can transfer those balances to the SBI Simply Save Credit Card and pay them back at a lower interest rate through easy EMIs. This can help you manage your debt more effectively while saving money on interest payments.
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Flexipay: Convert Transactions into EMIs
With Flexipay, you can convert any transaction above Rs. 2,500 into easy monthly installments. Simply log into your SBI account within 30 days of the purchase and choose the Flexipay option to spread out your payments.
Contactless Transactions
The SBI Simply Save Credit Card offers contactless payment options for daily purchases. All you need to do is wave your card at a secure reader, and the transaction is completed instantly. This is a fast and secure way to pay, reducing the need to handle cash or hand over your card to someone else.
Security Features
Security is a top priority with the SBI Simply Save Credit Card. The contactless feature ensures that your card never leaves your hand, reducing the risk of theft or fraud. Even if the card is accidentally waved more than once, only one transaction will go through, thanks to Visa payWave’s unique security feature.
Conclusion
The SBI Simply Save Credit Card offers a combination of simplicity, rewards, and security. Whether you’re a frequent shopper, a movie buff, or someone who prefers to pay bills and fuel expenses with a credit card, this card has something for everyone. With its attractive reward points system, fuel surcharge waiver, and annual fee reversal, it provides excellent value for money. The additional security features and contactless payment options only add to its appeal.
FAQs about SBI Simply Save Credit Card
1. What is the annual fee for the SBI Simply Save Credit Card?
The annual fee for the SBI Simply Save Credit Card is Rs. 499. Additionally, there is a renewal fee of Rs. 499 from the second year onward. However, if your annual spending exceeds Rs. 1,00,000, the renewal fee for the second year will be waived.
2. How can I earn reward points on the SBI Simply Save Credit Card?
The reward points system is straightforward:
- You earn 10x reward points for every Rs. 150 spent on dining, movies, grocery shopping, and purchases made at department stores.
- For all other categories, you earn 1 reward point for every Rs. 150 spent.
These points can be redeemed for gifts, vouchers, or can even be used to pay your outstanding credit card bill. Each 4 reward points are worth Rs. 1.
3. What is the welcome offer on the SBI Simply Save Credit Card?
As part of the welcome offer, new users receive Rs. 100 cashback on their first ATM cash withdrawal if the transaction is made within the first 30 days of receiving the card. Additionally, if you spend Rs. 2,000 or more within the first 60 days, you receive 2,000 bonus reward points.
4. What is the fuel surcharge waiver feature?
The SBI Simply Save Credit Card offers a 1% fuel surcharge waiver on fuel transactions between Rs. 500 and Rs. 3,000 at petrol pumps across India. This helps you save on fuel expenses without worrying about extra charges.
5. Can I withdraw cash using the SBI Simply Save Credit Card?
Yes, you can withdraw cash using your SBI Simply Save Credit Card from over 1 million ATMs worldwide. Keep in mind that interest rates and cash withdrawal fees may apply, so it’s best used for emergency purposes.
6. Can I convert my large purchases into EMIs using the SBI Simply Save Credit Card?
Yes, with the Flexipay feature, you can convert any transaction above Rs. 2,500 into easy monthly installments (EMIs). To use this option, simply log in to your SBI account within 30 days of the purchase and opt for the Flexipay feature.
7. Is there an annual fee waiver on the SBI Simply Save Credit Card?
Yes, the annual renewal fee of Rs. 499 can be waived if you spend over Rs. 1,00,000 in a year. This makes the card essentially free for frequent spenders.
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8. Is the SBI Simply Save Credit Card internationally accepted?
Yes, the SBI Simply Save Credit Card is accepted at over 24 million outlets worldwide, including more than 3,25,000 outlets in India. This makes it an excellent choice for international travelers.
9. Can I get add-on cards for my family members with the SBI Simply Save Credit Card?
Yes, you can issue add-on cards for your family members, including your spouse, parents, children, or siblings over the age of 18. These add-on cards allow your family members to enjoy the benefits of the card.
10. How does the balance transfer feature work on the SBI Simply Save Credit Card?
The balance transfer feature allows you to transfer outstanding dues from another credit card to your SBI Simply Save Credit Card. You can repay the transferred amount at a lower interest rate in easy EMIs, helping you manage your debt more efficiently.
11. How does the contactless payment system work?
The SBI Simply Save Credit Card supports contactless payments, allowing you to simply wave your card at a secure reader for transactions. This is faster, more convenient, and secure as your card never leaves your hand, reducing the risk of theft or fraud.
12. What are the security features of the SBI Simply Save Credit Card?
The card offers enhanced security features, including:
- Visa payWave technology for contactless transactions.
- If the card is accidentally tapped more than once, only one transaction will be processed, ensuring the safety of your funds.
Additionally, regular SMS and email alerts for transactions help monitor your spending and keep your card secure.