SBI Advantage Plus Card
- Post issuance of your SBI Advantage Plus Card, SBI Card will provide you an Encash facility and transfer the funds to State Bank of India to facilitate the opening of a Fixed Deposit in your name at SBI.
- As you keep paying the Encash EMI's every month on your SBI Advantage Plus Card, the Credit Limit will keep opening every month
- You will continue to enjoy interest on your Fixed Deposit at SBI.
- The final credit limit on your SBI Advantage Plus Card will be upto 85% of the FD amount
- Enjoy unbelievably low rate of interest at 1.99% pm on your SBI Advantage Plus Card
- In addition, enjoy the following great benefits on your SBI Advantage Plus Card
Worldwide Acceptance
Your SBI Advantage Plus Card can be used in over 24 million outlets across the globe, including 3, 25,000 outlets in India. Just look for the Visa/MasterCard sign of acceptance and present your card for payment.
Credit Facility
You SBI Advantage Plus Card now offers you great flexibility of payment. With the extended credit option you can plan your outstanding payments as is suitable to you. You can pay any amount from the minimum amount due to the total outstanding amount due as shown in your Monthly Statement. You can then carry forward the unpaid balance at one of the lowest finance charges available.
Build Credit Bureau History
Build Credit Bureau History, which leads to hassle-free loan sanctions
Cash on the go
As an SBI Cardholder, you can withdraw cash from over 1 million VISA/MasterCard ATMs (Please check the logo on the front of your card before using) across the globe, including 18,000 ATMs in India. In addition to this, you get access to over 10,000 SBI ATMs across 100 plus cities in India.
How to Apply
1. Fill in the SBI Advantage Plus Application Form and SBI FD Form
2. Sign the lien authorization letter and Auto Debit Mandate (As per the SBI Card specified format)
3. Attach the self-attested KYC documents as per RBI guidelines
4. Submit the form to the designated branch
5. SBI Card will issue you the SBI Advantage Plus Card
6. After you pay Annual Fee & Joining Fee as charged in the first bill, SBI Card will extend you an Encash facility for Rs. 25,000/Rs. 50,000 and transfer the funds to SBI.
7. SBI will open a Fixed Deposit in your name for the amount of the Encash facility
8. The FD will have a lien in favor of SBI Cards
9. You will be billed the following monthly EMI for 11 months
Rs. 2,500 EMI for Rs. 25,000 Encash
Rs. 5,000 EMI for Rs. 50,000 Encash
10. In the meantime, you will continue to earn interest on your FD for 555 days @ 9.25% (or as per the current applicable SBI FD rate of interest)
11. Your credit limit will open as per the chart given below
Please note
Till such time that the SBI Advantage Plus card is active, the Fixed Deposit will continue to be renewed with SBI at the applicable rate of interest with a
lien in favor of SBI Cards.
The EMI paid by you includes an interest of 19.5% per annum on reducing balance.
You will receive the Fixed Deposit Receipt separately from State Bank of India
In case of non-payment of the SBI Advantage Plus card dues, the same will be deducted from your Fixed Deposit (against which the lien is marked)
* You will be billed Annual Fees of Rs. 500 + GST & Joining Fees of Rs. 500 + GST in 1st Statement.
** The Encash will be booked & EMI billed only post receipt of Annual Fee & Joining Fee payment
*** The Credit Limit will be released within 1 week of the Payment Due Date for that statement subject to payment realization.
Credit Convenience
Credit free period of upto 50 days and extended credit facility with very low interest rate of 1.99% p.m
Ready Cash
As an SBI Cardholder, you can withdraw cash from over 1 million VISA/MasterCard ATMs (Please check the logo on the front of your card before using) across the globe, including 18,000 ATMs in India. In addition to this, you get access to over 10,000 SBI ATMs across 100 plus cities in India and enjoy up to 100% cash withdraw limit.
Add-on cards - Enhanced Power to your family
You can now conveniently take care of the needs of your loved ones. Your SBI Advantage Plus Card now lets you apply for add-on cards for your spouse, parents, children or siblings above the age of 18.
Utility Bill Payment Facility*
With the Easy Bill Pay facility from SBI Card you can be rest assured you will never ever forget paying your utility bills on time. All your utility bills like electricity, insurance, telephone will get paid before the due date with this facility from SBI Card.
Guaranteed peace of mind
Your sense of security is our priority.SBI Card automatically gives you complete peace of mind with our SBI Card Customer Helpline and 24-hr VISA/MasterCard (Please check the logo on the front of your card before using) Global Customer Assistance Services available across the world in case of any emergency.
Balance Transfer on low interest rates*
Here's your chance to save money while paying your credit card dues! SBI brings you a fast and convenient way to transfer the outstanding amount from your other card to your SBI card at the lowest rates of Interest.
Flexipay*
Flexipay, the easy installment plan from SBI Card lets you buy just about anything and repay in easy monthly installments. Choose the plan best suited to your financial needs and avail of a low rate of interest. All this through a simple phone call within 10 days of your purchase. Call the Helpline for details now !
Easy Money Facility*
Now you can order a bank draft any time by just making a local phone call to the SBI Card Customer Helpline. The amount of the draft will be billed directly to your SBI Card. You'll find it useful for payments of various bills, taxes, fees and a lot more. For more details please call the SBI Card helpline.
Convenience of Technology
E-statement
No postal delays. No lost statements. No late payments. Just the convenience of getting your monthly statement delivered directly to your email inbox. Giving you global access 24 hours and seven days a week.
SBI Card Alerts
SBI Card Alerts enables you to receive information regarding your credit card status, as an SMS on your mobile phone. These include Mini Statement Alerts, Cheque Alerts, Credit & Cash limit Alerts & Payment Assistance Alerts. So, no matter where you are, we will keep you informed! To subscribe to SBI Card visit us at www.sbicard.com or call your local SBI Card Customer Helpline.
SBI Card Online
Manage your SBI Card account. Whether it is checking your statement online or requesting an address change, locating the nearest SBI ATM and winning exciting prizes on our special offers. It's all now click away. To get started, log on to www.sbicard.com and take advantage of these benefits.
* - These facilities are available after 5 EMI's of the Encash facility have been paid
Fees
| Joining Fee (one time) | Rs. 500 |
| Annual Fee(p.a.)+ | Rs. 500 |
| Addon Fee(p.a.) | NIL |
| Interest Free Credit Period | 20-50 days (applicable only on retail purchases and if previous months outstanding balance is paid in full) |
| Finance Charges | Upto 2.25% p.m. (27% p.a.) from the transaction date |
| Minimum Amount Due | 5% of Total Outstanding (Min Rs. 200) + Govt. Service Tax |
| Cash Advance Limit | Upto 100% of Credit Limit |
| Free Credit Period | NIL |
| Finance Charges | Upto 2.25% p.m.(27% p.a.) from the transaction date |
| SBI ATMs /Other Domestic ATMs | 2.5% of withdrawal amount or 300/- (WIH) per transaction |
| International ATMs | 3% of withdrawal amount or 300/- (WIH) per transaction |
| Protection Plus Insurance Scheme* | Personal Accident (Insurer RSA) - Rs. 24 p.m. Suraksha Plus (Insurer SBI Life) - 0.1% of Total Outstanding Admin Fee - Rs. 20 p.m. |
| Cheque Pickup | Rs 90/- |
| Cheque Bounce/Invalid Cheque | 2% of Cheque dishonor amount (Min Rs. 350, Max Rs. 500). |
| Statement Retrieval | Rs. 100 per Statement (> 2 months old) |
| Chargeslip Retrieval | Rs. 225 per Chargeslip |
| Late Payment | NIL for Total Amount Due upto Rs. 500; Rs. 200 for Total Amount Due from Rs. 501 - Rs. 1,000; Rs. 350 for Total Amount Due from Rs. 1,001 - Rs. 5,000; Rs 500 for Total Amount Due from Rs 5,001 - Rs 10,000;Rs. 700 for Total Amount Due above Rs. 10,001 |
| Card Replacement | Rs. 100 |
| Emergency Card Replacement (When Abroad) | Actual Cost (Min. $175) |
| Foreign Currency Transaction | Conversion mark up: 3.5% |
| Card Upgrade Fee | Upto Rs. 500 |
| Railway Tickets - Railway Counters | Rs. 30 + 2.5% of transaction amount |
| Railway Tickets - http://www.irctc.co.in/ | 1.8% of transaction amount + service charge, as applicable |
| Customs duty | 2.25% of transaction amount (Min. Rs. 75) |
| Petrol & all products/services sold at petrol Pumps | 2.5% of the transaction amount (Min Rs 10) |
| Order of Payment Settlement | Minimum Amount Due ( which is inclusive of GST + EMI on Loan plans + 5%of Total Outstanding ) , followed by Fees and other charges, Interest Charges, Balance Transfer Outstanding, Retail Outstanding and Cash Advance. |
# Card finance charge is dynamic and will be based on the cardholder's usage and payment patterns and is subject to periodic review.
* Nil on Cash advance.
** Insurance is optional and a subject matter of solicitation.
*** Cheques payable outside clearing zones not accepted. We accept payment through local cheques /drafts payable in Delhi only.
Service tax as applicable on all above fee, interest and charges.
Your continued use of the card will be deemed acceptance of these amendments.
SBI Card Helpline
From BSNL/MTNL Lines 1860 180 1290
From All Other Lines 39 02 02 02
All information in this communication is correct as per June 2011 and is subject to change at the discretion of SBICPSL. SBI Card Most Important Terms and Conditions are also available at http://www.sbicard.com/
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