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SBI Advantage Plus Low Interest Credit Cards

SBI Advantage Plus Card

  1. 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.
  2. As you keep paying the Encash EMI's every month on your SBI Advantage Plus Card, the Credit Limit will keep opening every month
  3. You will continue to enjoy interest on your Fixed Deposit at SBI.
  4. The final credit limit on your SBI Advantage Plus Card will be upto 85% of the FD amount
  5. Enjoy unbelievably low rate of interest at 1.99% pm on your SBI Advantage Plus Card
  6. In addition, enjoy the following great benefits on your SBI Advantage Plus Card

Worldwide Acceptance

Your SBI Advantage Plus Card is an international credit card and 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 Visa Credit 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 Credit Card 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)

 
Credit Limit Release Schedule for Encash amount Rs 25,000
Month S. No. Statement Date (Examples)EMI that will be billed to youIncremental Credit limit released after payment of EMI billed in that monthPrincipal AmountCumulative PrincipalTotal  Credit Limit available to you
112thMar'11Nil *0000
212thApr'112500**1000***209420941000
312thMay'1125002000212842223000
412thJun'1125002000216363855000
512thJuly'1125002000219885837000
612thAug'11250020002233108169000
712thSep'112500200022701308611000
812thOct'112500200023071539313000
912thNov'112500200023441773715000
1012thDec'112500200023822011917000
1112thJan'122500200024212254019000
1212thFeb'122500200024602500021000

* 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 credit card statement subject to payment realization.

Credit Convenience

Credit free period of upto 50 days and extended credit facility with very low interest rate of 2.25% p.m

Ready Cash

As an SBI Cardholder, you can avail credit card cash withdrawal 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 utility bill payment 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 with this low interest credit card.

Flexipay*

Flexipay, the easy installment plan from SBI Visa Credit 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 credit card 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
Extended Credit

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

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
Cash Advance Fees

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
Other Charges & Fees

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 from Rs.0-Rs.200;
Rs.100 for Total Amount due greater than Rs.200 & up to Rs.500;
Rs.200 for Total Amount due greater than Rs.500 & up to Rs.1000;
Rs.350 for Total Amount due greater than Rs.1000 & up to Rs.5000
Rs.550 for Total Amount due greater than Rs.5000 & up to Rs.10,000;
Rs.750 for Total Amount due greater than Rs.10,000;
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 
 Cash OTC Fees  Rs.100 +GST
Surcharge
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

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 https://www.sbicard.com/



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