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Most Important Terms and Conditions

Most Important Terms & Conditions

  • SBI Corporate Card (Applicable only for Corporate Liability Customers)

    1. FEES AND CHARGES

    A. Joining Fees, Annual Fees & Renewal Fees(if applicable)

    There are joining fees, annual fees and renewal fees applicable on the SBI Corporate Card (SBI Card). These fees may vary from Corporate to Corporate and may also vary from Cardholder to Cardholder, and from offer to offer. These shall be as communicated to the Corporate and the Cardholder at the time of applying for the corporate card. The joining and annual fees, as applicable, are directly charged to the Cardholder account and the same would be displayed in the card statement of the month in which it is charged.

    B. Cash Advance Fees(if applicable)

    The Cardholder can use the Card to access cash in an emergency from ATMs / Cash points in India or ATMs overseas. A transaction fee would be levied on all such charges and would be billed to the Cardholder in the next statement. A transaction fee of 2.5% or upto Rs 450 whichever is higher at domestic SBI ATMs / Cash points, and upto Rs.450 or 2.5% whichever is higher, at other domestic ATM's and 3% or upto Rs. 450, whichever is higher at international ATMs will be levied. The transaction fee is subject to change at the discretion of SBI Cards & Payment Services Private Limited (SBICPSL). All cash advances also carry a service charge from the date of withdrawal until the date of settlement. The service charge is currently Upto 3.35% per month [40.2% per annum] and is subject to change at the discretion of SBICPSL.

    C. Cash Payment Fees

    The Cardholder can walk into any SBI branch and pay SBI Card dues by mentioning the Corporate Card number & Amount in the pay-in slip and depositing the same at the branch counter. An instant payment acknowledgment receipt will be provided after paying your bill. This service is available at Rs. 100 + applicable taxes.

    D. Charges

    i. Charges and fees, as may be applicable from time to time, are payable by the Corporate and its Cardholders for specific services provided by SBICPSL to the Corporate and its Cardholder or for defaults committed by the Cardholder with reference to his Card account
    ii. SBICPSL retains the right to alter any charges or fees from time to time or to introduce any new charges or fees, as it may deem appropriate, with due intimation to Corporate.

    E. Interest Free Grace Period

    The interest free credit period could range from 20 to 50 days subject to submission of claims by the merchant. However, this is not applicable if the previous month's balance has not been cleared in full or if the Cardholder has availed of cash from any ATM / Cash Point.

    F. Finance Charges (Service Charges)

    Finance Charges are payable at the monthly percentage rate on all transactions from the date of transaction in the event of the Corporate or the Cardholder choosing not to pay his balance in full, and on all cash advances taken by the Cardholder, till they are paid back.
    If the Corporate or the cardholder makes partial or no payment of Total Amount Due(TAD) before Payment Due Date (PDD); i.e. the Customer has outstanding balance from previous months and in the current month, full payment of Total Amount Due is made before Payment Due Date then Finance charges will be levied on the closing balance till the payment date.
    Card Interest Rate is dynamic and will be based on the Cardholder's usage and payment patterns and is subject to periodic review. The rate of finance charges may increase to a maximum of 3.35% per month [40.2% per annum] from the transaction date and is subject to change at the discretion of SBICPSL. Finance charges, if payable, are subject to levy of applicable taxes and are debited to the Cardholder's account till the outstanding on the card is paid in full.

    a) Finance charges on cash advances (if applicable) are applicable from the date of transaction until the payment is made in full

    Example 1 Card Statement date -2nd of every month

    Transactions done between 3rd Mar'17-2ndApr'17are as follows:

    1. Retail Purchase of INR. 5000 – On 10th Mar'17
    2. Cash Withdrawal (if applicable) of INR.7000 – On 30th Mar'17

    Assuming no previous balance carried forward from the 2nd Mar'17 statement, the cardholder will get his 2nd Apr'17 statement showing Rs. 12,000 of transactions along with 3 days of finance charges at the rate applicable on the Rs. 7,000 cash withdrawal. The cardholder needs to make payment against the outstanding by 22nd Apr'17, i.e. 20 days from the Statement date. Please note that all payments for a cardholder's SBI Corporate Card account has to be settled in full (Total Amount Due) by payment due date. The payment would be first cleared against taxes, followed by fees and other charges, Interest charges, retail outstanding and Cash Balance (if any) last. In case of any previous balance being carried forward from the previous statement, finance charges will be levied from the previous statement date (unless in the case of non-interest levied outstanding retail balance where the finance charge is levied from the date of the transaction).

    b) In case the statement outstanding has no cash balance and has not been carried forward from a previous statement and the retail balance outstanding on the statement date is paid in full by the payment due date, No Finance Charges are levied on such balances.

    Example 2 – Card Statement date – 2nd of every month.

    Transactions done between 3rd Jan'17– 2nd Feb'17are as follows:

    1. Retail Purchase of INR. 10000 –On 5th Jan'17
    2. Online Purchase of INR. 30000 – On 15th Jan'17

    Assuming no previous balance carried forward from the 2nd Jan'17statement, the cardholder will get his 2nd Feb'17 statement showing Rs. 40,000 transactions. The cardholder needs to make payment against the outstanding by 22nd Feb'17, i.e. 20 days from the Statement Date. Please note that all payments for a cardholder's SBI Corporate Card account has to be settled in full (Total Amount Due) by payment due date. The payment would be first cleared against taxes, followed by fees and other charges, Interest charges, retail outstanding and Cash Balance (if any) last. In case of any previous balance being carried forward from the previous statement, finance charges will be levied from the previous statement date (unless in the case of non-interest levied outstanding retail balance where the finance charge is levied from the date of the transaction).
    Making only the minimum payment every month would result in the repayment stretching over the years with consequent interest payment on the outstanding balance of the cardholder.

    Example 3: Card Statement date – 2nd of every month.

    Transactions done between 3rd Dec'17 – 2nd Jan'17

    1. Retail Purchase of Rs 500 – On 15th Dec'17
    2. Online Purchase of Rs 600 – On 20th Dec'17

    Assuming no previous balance carried forward from the 2nd December 2017 statement, the Cardholder will get his 2nd Jan'17 statement showing Rs 1100 transactions, Total Amount Due of Rs 1100. The Cardholder needs to make payment against the outstanding by 22nd Jan'17, i.e. 20 days from the Statement Date.

    Assuming the Cardholder makes partial payment of Rs 500, on 22nd Jan'17, finance charges would be levied at the effective rate and added to the total outstanding. Considering the effective rate of 3.35% p.m.,finance charge calculation will be done as follows–
    On the balance of Rs 500 (15th Dec to 22nd Jan) for 39 days: (3.35*12) * (39/365) *500/100 = Rs 21.48
    On the balance of Rs 600 (20th Dec to 22nd Jan) for 34 days: (3.35*12) * (34/365) *600/100 = Rs 22.47
    On the balance of Rs 600 (22nd Jan to 2nd Feb) for 10 days: (3.35*12) * (10/365) *600/100 = Rs 6.61
    Total Interest Charged = Rs 50.56

    Transactions done between 3rd Feb'17 – 2nd Mar'17

    1. Beginning balance of Rs 650.56 – On 3rd Feb'17
    2. Retail Purchase of Rs 1000 – On 5th Feb'17
    3. Online Purchase of Rs 3000 – On 15th Feb'17

    Assuming previous balance of Rs 650.46 carried forward from the 2nd Feb '17 statement, the Cardholder needs to make payment against the outstanding by 22nd Feb'17, i.e. 20 days from the Statement Date.
    Assuming Cardholder makes complete payment by 15th Feb i.e. within Payment Due Date. Considering the effective rate of 3.35% p.m., finance charge calculation will be done as follows:

    On the balance of Rs 650.56 (3rd Feb – 15th Feb) for 12 days:
    (3.35*12) *(12/365) * 650.56/100 = Rs 8.60
    Total Interest Charged = Rs 8.60

    Sum of Outstanding purchase amount, Interest charges, Fees and Charges, if any, and all applicable taxes would reflect as the Total amount due in the statement dated 2nd March.

    G. Late Payment Charges

    Late Payment charges will be applicable if Total Amount Due is not paid by the payment due date.

    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. 400 for Total Amount due greater than Rs. 500 & up to Rs.1000;
    Rs. 500 for Total Amount due greater than Rs.1000 & up to Rs.10,000;
    Rs.750 for Total Amount due greater than Rs.10,000

    Example 1 - Card Statement date – 2nd of every month.

    Transactions done between 3rd Feb'17– 2nd Mar'17areas follows:

    1. Retail Purchase of INR. 2000 – On 8th Feb'17;
    2. Online Purchase of INR. 2500 – On 19thFeb'17.

    Assuming no previous balance carried forward from the 2nd Feb '17 statement, the cardholder will get his 2nd Mar statement showing Rs. 4500 transactions. The cardholder needs to make payment against the outstanding by 22nd Mar'17, i.e. 20 days from the Statement Date. If the cardholder does not make full payment (i.e Total Amount Due) by payment due date, he would be charged a Late Payment Charge of Rs. 500 (Rs. 500 for Total Amount Due from Rs. 1,001 - Rs.10,000).

    H. Over Limit Charges – Not applicable for Corporate Cards

    I. Payment Dishonor Fee
    In case of a Payment Dishonor, the Corporate Cardholder will be charged payment dishonor fee of 2% of Payment Amount subject to minimum charges of Rs 450.

    J. Other charges(if applicable):
    · Card Replacement Fee: Rs. 100/- – Rs. 250/-
    · Cheque Fee: Rs 100 (Payments made via cheque upto Rs. 2000)
    · Cheque Pick Up Fee: Rs.90/-
    · Statement Retrieval Fee: Rs 100/- per statement for statements more than 2 months' old
    · Foreign Currency Transaction fee: Upto 3.5% The exchange rate used to convert Foreign Currency transaction into INR will be determined by VISA/MasterCard, as the case may be, basis the exchange rates governed by them on the date the transaction is settled with SBI Card, which may not be the same date on which the transaction was made. The Foreign currency transaction fee will be applied on the INR converted amount shared by VISA/MasterCard.

    2. LIMITS

    Credit Limit and Cash Limit (if applicable) are assigned to Cardholders based on the instructions received from the Corporate Card Program Manager. These limits are communicated to the cardholder at the time of card delivery. The Credit Limit and Cash Limits (if applicable) are communicated to the Cardholder in every statement. The Available Credit Limit (i.e. the Credit Limit available for use) at the time of the statement generation is provided as a part of the statement. SBICPSL will may review the corporate level limit Cardholder account periodically, and increase or decrease the Cardholder credit limit the same based on internal criteria or basis request received from the Corporate Card Program Manager. Any such changes may also impact Cardholders limit and the same would be informed to the Corporate Card Program manager who can further disseminate this information to the respective cardholders. Cardholders seeking to have their credit limit increased can do so by writing to SBICPSL however SBICPSL, at its sole discretion and based on request received and approval of the Corporate Card Program Manager, may increase the Credit Limit of the Cardholder.

    3. BILLING AND STATEMENT

    a) SBICPSL will send the Cardholder a monthly statement showing the payments credited and the transactions debited to the Cardholder's Account since the last statement. SBICPSL will send a statement through email to the registered email id, on a pre-determined date.
    In case of SBI Corporate Utility Card, there shall be a statement of account issued on 2nd day of every month. The payment due date for this consolidated statement of account shall be 17th day of that month. In addition, for convenience of the corporate, an unbilled transaction summary shall also be issued on 13th day of the same month wherein the debit transactions for a period between 3rd to 13th of the same month are duly reflected.

    b) SBI Corporate Card does not offer the cardholder a revolving credit facility. Total Outstanding in any particular statement has to be paid in full to avoid any penal charges.

    c) Payments made towards the card outstanding are acknowledged in subsequent statements. Any dispute regarding input tax credit or any other matter pertaining to taxes shall be communicated to Corporate Card Issuer within 30 days from the date of issuance of the Statement

    d) Payments received against the Cardholder's card outstanding will be adjusted against the taxes, fees and other charges, interest charges, purchases and cash advances, in that order. Corporate would be responsible for providing correct and timely information for enabling Corporate Card Issuer to undertake appropriate GST compliances which would in turn enable Corporate to take input tax credit of supplies made by the Corporate Card Issuer. Card issuer shall not be responsible for any loss of input tax credit or delay in availment of input tax credit to the card holder on account of incorrect information provided by Corporate or due to any act or omission by Corporate.

    e) Payments towards the Card account may be made in any of the following ways:

    - By logging onto www.sbicard.com and using Paynet option to make payment through netbanking or your SBI ATM cum debit card.
    - By mailing a Cheque or draft to the mailing address provided in the reverse of the statement.
    - By dropping a Cheque or draft into any of the SBI Card drop boxes placed in your city or in designated State Bank of India branches. The Cheque/draft should be made payable to “SBI Card Number xxxx xxxx xxxx xxxx”.
    · - ECS: Payments can be made through the Electronic Clearing System (ECS) in select cities.

    · NEFT:
    Beneficiary Name: SBI Cards and Payment Services Pvt. Ltd, Bank Address State Bank of India, GE Capital Branch(04401), 12th Floor, Infinity Towers, Tower-C, DLF Phase- II, Gurugram-122002
    Bank Account Number- 30000712414
    IFSC code: SBIN0004401

    f) SBI Card Offers various mode of making payments of bill outstanding, the same is illustrated at the back of the monthly statement and SBI Card website. Any advance received from Corporate or the card holder shall be treated as being an advance towards future spends and not against any charges/fees.

    g) Billing Disputes: All contents of statements will be deemed to be correct and accepted by the Cardholder unless within 30 days of the Statement Date the Corporate or the Cardholder informs SBICPSL of any discrepancies, and these discrepancies are found to be true by SBICPSL. On receipt of such information, SBICPSL may reverse the charge on temporary basis. If on completion of subsequent investigations, the liability of such charges is to the Cardholder's account, the charge will be reinstated in a subsequent statement.

    h) Customer Grievance Redressal: All grievance escalations should be marked to Head- Corporate Customer Management, DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City, Gurugram-122002 (Haryana) India.

    The Corporate Card Program Manager or the Cardholder can also contact SBICPSL for making any enquiries or for any grievance redressal through an e-mail to sbicorporate.services@sbicard.comor through the 24-Hour SBI Card Helpline: 1860 180 1290 , 39 02 02 02 (prefix local STD code) - from time to time for settlement of any outstanding on the card account, by post, fax, telephone, e-mail, SMS messaging and/or engage third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on debt collection. The total Outstanding on the Card account, together with the amount of any Charges effected but not yet charged to the Card Account, will become immediately due and payable in full to SBICPSL on bankruptcy of the Corporate and the Card Account shall immediately stand Cancelled. The Corporate will be responsible for settling any Outstanding on the Card Account and should keep SBICPSL indemnified against all costs, including legal fees and expenses incurred in recovering such Outstanding. Pending such repayments, SBICPSL will be entitled to continue to levy finance charges at its prevailing rates.

    4. DEFAULT

    In the event of default, the Corporate Card Program Manager and the Cardholder will be sent reminders from time to time for settlement of any outstanding on the card account, by post, fax, telephone, e-mail, SMS messaging and/or engage third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on debt collection and SBICPSL's Fair Practice Code. The total Outstanding on the Card account, together with the amount of any Charges effected but not yet charged to the Card Account, will become immediately due and payable in full to SBICPSL on bankruptcy of the Corporate or death of the Cardholder and the Card Account shall immediately stand cancelled. The Corporate will be responsible for settling any Outstanding on the Card Account and should keep SBICPSL indemnified against all costs, including legal fees and expenses incurred in recovering such Outstanding. Pending such repayments, SBICPSL will be entitled to continue to levy finance charges at its prevailing rates.

    Before reporting default status of a Corporate/Cardholder (as the case may be) to a Credit Information Company which has obtained Certificate of Registration from RBI and of which the SBICPSL is a member, we will provide a months' notice to the corporate/cardholder (whichever case is applicable).

    It may further be noted, that if a Corporate/Cardholder (as the case may be), post being reported as defaulter, clears the dues, then SBICPSL would withdraw the defaulter status from the Credit Information Company. Such changes may take 45-60 days to reflect in corporate's/cardholder’s (whichever case is applicable). credit report. SBICPSL submits the Corporate's/Cardholder’s (whichever case is applicable). data to a Credit Information Company every month in the prescribed format. Credit Information Company uploads the submitted data onto their server within 30 days' time.

    SBICPSL at its sole discretion may provide some insurance cover along with the Corporate Card and shall have full right to withdraw the same without any prior notice to the corporate/cardholder. SBICPSL shall update the details of such offerings at the website at all times. For updated details, Corporate/Cardholders shall refer to www.sbicard.com. The respective insurance cover will be applicable and/or activated from the date of issuance of corporate card to the corporate cardholder.

    5. TERMINATION/REVOCATION OF THE CARDHOLDERSHIP

    a) The Corporate Card Program Manager or the Cardholder with an approval from the Corporate Card Program Manager may end the Agreement at any time by writing to SBICPSL and by cutting the card(s) diagonally. Termination will be effective after payment of all amounts outstanding on the card account is cleared by the corporate. No joining or renewal/annual fees shall be refunded on a pro-ratabasis.

    b) SBICPSL may also restrict, terminate or suspend the use of the Cardholder Account at any time without prior notice, if SBICPSL reasonably believe it necessary for business or security reasons and/or at the request of any law enforcement agency, and/or any government authority and/or under the laws & regulations which apply to SBICPSL& its customer.

    c) SBICPSL can suspend the facility on the Corporate Card, if the Corporate/cardholder defaults on the payment due or exceeds the credit limit extended. The Card must not be used after the Agreement ends or while use of Card Account is suspended. In such a situation, the Corporate must (subject to any default or other notice required by law)immediately pay SBICPSL the aggregate Outstanding Balance on all the Cards. This includes all amounts due to SBICPSL under the Agreement, including all transactions and other amounts not yet charged to the Account. The Cardholder Account will not be considered as closed until the Corporate has paid all such due amounts.

    6. LOSS/THEFT/MISUSE OF CARD

    a) The Cardholder should contact SBICPSL as soon as possible at the SBI Card Helpline if the Corporate Card is misplaced, lost, stolen, mutilated, not received when due or if he/shesuspects that the Corporate Card is being used without the Cardholder's permission. Once a card is reported lost, it should not, under any circumstance be used if found by the Cardholder subsequently, and the Cardholder should cut the card diagonally in half.

    · The Cardholder can also block the card instantly either on IVR or our website www.sbicard.com or through PULL SMS
    · To block your lost/stolen card through PULL SMS, just SMS BLOCK XXXX to 5676791 from your registered mobile number. (XXXX = Last 4 digits of your Card number). If you do not receive a confirmation SMS within 5 minutes of your request, please do not consider the card to have been blocked. Please call up the help line to get your card blocked immediately and to avoid any misuse.

    b) The Corporate and/or Cardholder must notify to SBICPSL through any of the multiple channels for reporting unauthorized transactions that have taken place and/or loss or theft of the Card. SBICPSL will be responsible for any unauthorized electronic banking transactions only in terms of and in accordance with the directions on “Customer Protection – Limiting Liability of Customers in Unauthorized Electronic Banking Transactions”.
    SBICPSL is not liable or responsible for any transactions incurred on the card account prior to the time of reporting of the loss of the card to SBICPSL and the Cardholder/Corporate will be wholly liable for the same unless the loss to the customer is due to deficiency on the part of SBICPSL.The Corporate will not be liable for transactions made on the Card after receipt by SBICPSL of the written notice of the loss/theft/misuse.In addition to notifying SBICPSL about the loss or theft of the Card, the Cardholder must report any theft of the Corporate Card(s) to the Police and lodge an FIR. The Cardholder will, however, be liable for all losses when someone obtains and misuses the Card or PIN with the Cardholder's consent.

    c) If the Cardholder has acted fraudulently the Cardholder will be liable for all losses. If the Cardholder acts without reasonable care, the Cardholder may be liable for all losses incurred. This may apply if the Cardholder fails to follow the safeguards as specified by SBICPSL.

    d) As per Reserve Bank of India (RBI) mandate, dated 06 Jul’17 on Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, a policy is designed to ensure customer protection relating to unauthorized credit card transactions. The same is updated on SBI Card’s website under “Customer Grievance Redressal Policy”. The policy is based on the principles of transparency and fairness in treatment of customers


    e) SBICPSL may, without referring to the Cardholder -, give the police or other relevant authorities any information that SBICPSL considers relevant about the loss, theft or misuse of a Card or PIN.

    f) Changes in contact details of your Corporate Card account would be intimated to your new as well as preceding contact details in the system. It is advised to keep your current contact details updated in our records.

    7. DISCLOSURE

    The Corporate and/or Cardholder (as the case may be) acknowledges that SBICPSL is authorized to share Corporate's and/or Cardholder's information (whichever case is applicable) with any of the existing or future credit bureaus only after issuing sufficient notice about the intention to report Corporate and/or Cardholder and such information may pertain to positive or negative performance/default by the Corporate and its Cardholders. Such update may take 45-60 days to reflect in credit bureau report. The Credit Information Bureau India Ltd. (CIBIL), is an initiative of the Government of India and the Reserve Bank of India (RBI) to improve the functionality and stability of the Indian financial system. This is in line with RBI's efforts to provide an effective mechanism for exchange of information between banks and financial institutions, thereby enabling cardholders to avail of better credit terms from various institutions. The Corporate further acknowledges that SBICPSL is authorized to share Corporate's information, including default in payments with Financial Institution, to other third parties engaged by SBICPSL for proper operation of card accounts, verification and other administrative services. SBICPSL may also share Corporate information with any parent, subsidiary, affiliate or associate of SBICPSL, for the purposes of marketing and offering various products and services of SBICPSL or its group companies, subsidiaries, affiliates and/or associates.

    SBI Card Most Important Terms and Conditions are also available at www.sbicard.com

    Important Regulatory information - The Card is valid for use both in India as well as abroad. It is, however, not valid for making foreign currency transactions in Nepal and Bhutan.
    - Usage of the Card for transacting outside India must be made in accordance with applicable laws including the Exchange Management Regulations of the RBI and the Foreign Exchange Management Act,1999. Foreign exchange trading through internet trading portals is not permitted. In the event of any violations or failure to comply, you may be liable for penal action. You should consult your Authorized Dealer (AD) regarding your Foreign Exchange Entitlement.
    - If there is a credit balance on the Corporate Card account, SBI Card has the right to return this credit balance to the Corporate.
    - Please do not use Corporate Cards for making remittances /payments towards capital account transactions such as investment in overseas entities or setting up of entities overseas as it is not a permissible method of funding under RBI's Master Direction - Direct Investments by Residents in Joint Venture/ Wholly Owned Subsidiary Abroad.
    - As per RBI Master Circular- on Miscellaneous Remittances from India facilities for Residents, use of Corporate Card is prohibited for purchase of prohibited items like lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call-back services, etc., since no drawal of foreign exchange is permitted for such items/activities. Please refer Master Circular on Miscellaneous Remittances from India facilities for Residents for more details.

    8. SCHEDULE OF CHARGES

    Fees

    Platinum

    Signature

    Virtual Card

    Joining Fee (one time)

    NIL

    NIL

    NIL

    Annual Fee (p.a.)

    NIL

    Rs.499

    NIL

    Extended Credit

    Interest Free Credit Period

    20-50 days (applicable only on retail purchases and if previous month's outstanding balance is paid in full) 15-32 days (applicable only in case of SBI Corporate Utility Card)

    Finance Charges#

    Upto 3.35% p.m. (40.2% p.a.) from the transaction date (It is a charge card and does not offer revolving facility)

    Total Amount Payable

    Total Outstanding Due

    Cash Advance (If Applicable)

    Cash Advance Limit (If Applicable)

    Variable

    Free Credit Period

    Nil

    Finance Charges#

    Upto 3.35% p.m. (40.2% p.a.) from the date of withdrawal

    Cash Advance Fees (If Applicable)

    SBI ATMs / Other Domestic ATMs

    Upto 2.5% of withdrawal amount or upto Rs. 450 (WIH) per transaction

    International ATMs

    Upto 3% of withdrawal amount or upto Rs. 450 (WIH) per transaction

    Other Charges & Fees (If Applicable)

    Payment Dishonor fee

    2% of Payment amount (subject to a minimum of Rs. 450)

    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.400 for Total Amount due greater than Rs.500 & up to Rs.1000

    Rs.500 for Total Amount due greater than Rs.1000 & up to Rs.10,000

    Rs.750 for Total Amount due greater than Rs.10,000

    Overlimit

    Not Applicable for Corporate Card

    Emergency Card Replacement

    Complimentary

    Foreign Currency Transaction

    Conversion mark up: Upto 3.5%

    Annual Priority Pass Fee

    Upto Rs. 180 for Platinum and Complimentary for Signature

    Priority Pass Lounge Charges

    All Airport Lounge visits within India through the Priority Pass Program will be charged with an usage fee of $27 per visit + applicable taxes. For more details, please visit sbicard.com All guests being accompanied by the SBI Cardholder having the Priority Pass, to visit the Airport Lounge will be charged with an usage fee of $27 per visit + applicable taxes.

    Annual Reward Fee

    Upto Rs 300

    Rewards Redemption Fee

    Rs. 99

    Cash Payment fee

    Upto Rs.100

    Surcharge

    Railway Tickets -Railway Counters

    Rs. 30 + 2.5% of transaction amount

    Railway Tickets www.irctc.co.in

    1.8% of transaction amount + service charge, as applicable

    Petrol & all products /services sold at petrol Pupms

    1% of transaction value, 1% surcharge waiver (excluding all applicable taxes wherever applicable + other charges) for single transaction spends between Rs.500 and Rs.4000 for Signature & Platinum Cards.

    Maximum surcharge waiver of Rs.250 per statement cycle per Corporate Card account for signature & platinum cards.

    Payment of Customs duty

    2.25% of transaction amount (subject to a minimum of Rs. 75)

    Order of Payment

    Total Amount Due (which is inclusive of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding and cash advance.

    *Any changes in schedule of charges will be communicated via email and will be available on our website www.sbicard.com

    # Card Finance charge is dynamic and will be based on the cardholder's usage and payment patterns and is subject to periodic review.

    All taxes would be charged as applicable on all the above Fees, Interest & Charges.

    “Applicable Taxes” (for Statements issued on or after 1st July, 2017) means:

    - For the cardholders having state of residence in the records of SBI Card on the statement date as“Haryana” - Central Tax @ 9% and State Tax @ 9%
    - For the cardholders having state of residence in the records of SBI Card on the statement date as other than “Haryana” - Integrated Tax @ 18% Your continued usage of the card will be deemed as acceptance of these amendments.

    SBI Card Helpline

    39 02 02 02 (prefix local STD code), 1860 180 1290

    All terms & conditions mentioned in this document (including schedule of charges) are the standard conditions and charges applicable to all Corporates. Any changes to these would be mutually agreed between SBICPSL and the respective corporate through a separate addendum or would be a part of the Corporate Card agreement signed with the Corporate.

    All information in this communication is correct as per June 2018 and is subject to change at the discretion of SBICPSL. SBI Card Most Important Terms and Conditions are also available at www.sbicard.com

  • SBI Corporate Card (Applicable only for Individual Liability Customers)

    1. FEES AND CHARGES

    A. Joining Fees, Annual Fees & Renewal Fees(if applicable)

    There are joining fees, annual fees and renewal fees applicable on the SBI Corporate Card (SBI Card). These fees may vary from Corporate to Corporate and may also vary from Cardholder to Cardholder, and from offer to offer. These shall be as communicated to the Corporate and the Cardholder at the time of applying for the corporate card. The joining and annual fees, as applicable, are directly charged to the Cardholder account and the same would be displayed in the card statement of the month in which it is charged.

    B. Cash Advance Fees(if applicable)

    The Cardholder can use the Card to access cash in an emergency from ATMs / Cashpoints in India or ATMs overseas. A transaction fee would be levied on all such charges and would be billed to the Cardholder in the next statement. A transaction fee of 2.5% or Upto Rs 450 whichever is higher at domestic SBI ATMs / Cashpoints, and Upto Rs 450 or 2.5% whichever is higher, at other domestic ATM's and 3% or Upto Rs 450, whichever is higher at international ATMs will be levied. The transaction fee is subject to change at the discretion of SBI Cards & Payment Services Private Limited (SBICPSL). All cash advances also carry a service charge from the date of withdrawal until the date of settlement. The service charge is currently Upto 3.35% per month [40.2% per annum] and is subject to change at the discretion of SBICPSL.

    C. Cash Payment Fees

    The Cardholder can walk into any SBI branch and pay SBI Card dues by mentioning the Corporate Card number & Amount in the pay-in slip and depositing the same at the branch counter. An instant payment acknowledgment receipt will be provided after paying your bill. This service is available at Rs.100 + applicable taxes.

    D. Charges

    i. Charges and fees, as may be applicable from time to time, are payable by Cardholders for specific services provided by SBICPSL to the Cardholder or for defaults committed by the Cardholder with reference to his Card account
    ii. SBICPSL retains the right to alter any charges or fees from time to time or to introduce any new charges or fees, as it may deem appropriate, with due intimation to cardholders.

    E. Interest Free Grace Period

    The interest free credit period could range from 20 to 50 days subject to submission of claims by the merchant. However, this is not applicable if the previous month's balance has not been cleared in full or if the Cardholder has availed of cash from any ATM / Cash Point

    F. Finance Charges (Service Charges)

    Finance Charges are payable at the monthly percentage rate on all transactions from the date of transaction in the event of the Cardholder choosing not to pay his balance in full, and on all cash advances taken by the Cardholder, till they are paid back.
    If the Corporate or the cardholder makes partial or no payment of Total Amount Due(TAD) before Payment Due Date (PDD); i.e. the Customer has outstanding balance from previous months and in the current month, full payment of Total Amount Due is made before Payment Due Date then Finance charges will be levied on the closing balance till the payment date.
    Card Interest Rate is dynamic and will be based on the Cardholder's usage and payment patterns and is subject to periodic review. The rate of finance charges may increase to a maximum of 3.35% per month [40.2% per annum] from the transaction date and is subject to change at the discretion of SBICPSL. Finance charges, if payable, are subject to levy of applicable taxes and are debited to the Cardholder's account till the outstanding on the card is paid in full.

    a) Finance charges on cash advances (if applicable) are applicable from the date of transaction until the payment is made in full

    Example 1 Card Statement date -2nd of every month

    Transactions done between 3rd Mar'17-2ndApr'17are as follows:
    1. Retail Purchase of INR. 5000 – On 10th Mar'17
    2. Cash Withdrawal (if applicable) of INR.7000 – On 30th Mar'17
    Assuming no previous balance carried forward from the 2nd Mar'17 statement, the cardholder will get his 2nd Apr'17 statement showing Rs. 12,000 of transactions along with 3 days of finance charges at the rate applicable on the Rs.7,000 cash withdrawal. The cardholder needs to make payment against the outstanding by 22nd Apr'17, i.e. 20 days from the Statement date. Please note that all payments for a cardholder's SBI Corporate Card account has to be settled in full (Total Amount Due) by payment due date. The payment would be first cleared against taxes, followed by fees and other charges, Interest charges, retail outstanding and Cash Balance (if any) last.

    a) In case of any previous balance being carried forward from the previous statement, finance charges will be levied from the previous statement date (unless in the case of non-interest levied outstanding retail balance where the finance charge is levied from the date of the transaction).

    b) In case the statement outstanding has no cash balance and has not been carried forward from a previous statement and the retail balance outstanding on the statement date is paid in full by the payment due date, No Finance Charges are levied on such balances.

    Example 2 – Card Statement date – 2nd of every month.

    Transactions done between 3rd Jan'17 – 2nd Feb'17are as follows:
    1. Retail Purchase of INR. 10000 – On 5th Jan'17
    2. Online Purchase of INR. 30000 – On 15th Jan'17
    Assuming no previous balance carried forward from the 2nd Jan'17 statement, the cardholder will get his 2nd Feb'17 statement showing Rs. 40,000 transactions. The cardholder needs to make payment against the outstanding by 22nd Feb'17, i.e. 20 days from the Statement Date. Please note that all payments for a cardholder's SBI Corporate Card account has to be settled in full (Total Amount Due) by payment due date. The payment would be first cleared against taxes, followed by fees and other charges, Interest charges, retail outstanding and Cash Balance (if any) last. In case of any previous balance being carried forward from the previous statement, finance charges will be levied from the previous statement date (unless in the case of non-interest levied outstanding retail balance where the finance charge is levied from the date of the transaction).
    Making only the minimum payment every month would result in the repayment stretching over the years with consequent interest payment on outstanding balance.

    Example 3: Card Statement date – 2nd of every month.

    Transactions done between 3rd Dec'17 – 2nd Jan'17
    1. Retail Purchase of Rs 500 – On 15th Dec'17
    2. Online Purchase of Rs 600 – On 20th Dec'17
    Assuming no previous balance carried forward from the 2nd December 2017 statement, the Cardholder will get his 2nd Jan'17 statement showing Rs 1100 transactions, Total Amount Due of Rs.1100. The Cardholder needs to make payment against the outstanding by 22nd Jan '17, i.e. 20 days from the Statement Date.
    Assuming the Cardholder makes partial payment of Rs 500, on 22nd Jan '17, finance charges would be levied at the effective rate and added to the total outstanding. Considering the effective rate of 3.35% p.m.,
    finance charge calculation will be done as follows:

    On the balance of Rs 500 (15th Dec to 22nd Jan) for 39 days: (3.35*12) * (39/365) *500/100 = Rs.21.48
    On the balance of Rs 600 (20th Dec to 22nd Jan) for 34 days: (3.35*12) * (34/365) *600/100 = Rs.22.47
    On the balance of Rs 600 (22nd Jan to 2nd Feb) for 10 days: (3.35*12) * (10/365) *600/100 = Rs 6.61
    Total Interest Charged = Rs 50.56

    Transactions done between 3rd Feb'17 – 2nd Mar'17
    1. Beginning balance of Rs 650.56 – On 3rd Feb'17
    2. Retail Purchase of Rs 1000 – On 5th Feb'17
    3. Online Purchase of Rs 3000 – On 15th Feb'17
    Assuming previous balance of Rs 650.46 carried forward from the 2nd Feb '17 statement, the Cardholder needs to make payment against the outstanding by 22nd Feb '17, i.e. 20 days from the Statement Date.
    Assuming Cardholder makes complete payment by 15th Feb i.e. within Payment Due Date. Considering the effective rate of 3.35% p.m., finance charge calculation will be done as follows:
    On the balance of Rs 650.56 (3rd Feb – 15th Feb) for 12 days:
    (3.35*12) *(12/365) * 650.56/100 = Rs 8.60
    Total Interest Charged = Rs 8.60
    Sum of Outstanding purchase amount, Interest charges, Fees and Charges, if any, and all applicable taxes would reflect as the Total amount due in the statement dated 2nd March

    G. Late Payment Charges

    Late Payment charges will be applicable if Total Amount Due is not paid by the payment due date.
    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. 400 for Total Amount due greater than Rs. 500 & up to Rs.1000;
    Rs. 500 for Total Amount due greater than Rs.1000 & up to Rs.10,000;
    Rs.750 for Total Amount due greater than Rs.10,000

    Example 1 - Card Statement date – 2nd of every month.
    Transactions done between 3rd Feb'17– 2nd Mar'17areas follows:
    1. Retail Purchase of INR. 2000 – On 8th Feb'17
    2. Online Purchase of INR. 2500 – On 19thFeb'17
    Assuming no previous balance carried forward from the 2nd Feb'17 statement, the cardholder will get his 2nd Mar. statement showing Rs. 4500 transactions. The cardholder needs to make payment against the outstanding by 22nd Mar'17, i.e. 20 days from the Statement Date. If the cardholder does not make full payment (i.e Total Amount Due) by payment due date, he would be charged a Late Payment Charge of Rs. 500 (Rs. 500 for Total Amount Due from Rs. 1,001 - Rs.10,000).

    H. Over Limit Charges – Not applicable for Corporate Cards

    I. Payment Dishonor Fee

    In case of a Payment Dishonor, the Corporate Cardholder will be charged payment dishonor fee of 2% of Payment Amount subject to minimum charges of Rs 450.


    J. Other charges(if applicable):

    · Card Replacement Fee: Rs. 100/- – Rs. 250/-
    · Cheque Fee: Rs 100 (Payments made via cheque upto Rs. 2000)
    · Cheque Pick Up Fee: Rs. 90/-
    · Statement Retrieval Fee: Rs 100/- per statement for statements more than 2 months' old
    · Foreign Currency Transaction fee: Upto3.5%

    The exchange rate used to convert Foreign Currency transaction into INR will be determined by VISA/MasterCard, as the case may be, basis the exchange rates governed by them on the date the transaction is settled with SBI Card, which may not be the same date on which the transaction was made. The Foreign currency transaction fee will be applied on the INR converted amount shared by VISA/MasterCard.

    2. LIMITS

    Credit Limit and Cash Limit (if applicable) are assigned to Cardholders based on the instructions received from the Corporate Card Program Manager. These limits are communicated to the cardholder at the time of card delivery. The Credit Limit and Cash Limits (if applicable) are communicated to the Cardholder in every statement. The Available Credit Limit (i.e. the Credit Limit available for use) at the time of the statement generation is provided as a part of the statement.
    SBICPSL may review the corporate level limit periodically, and increase or decrease the same based on internal criteria or basis request received from the Corporate Card Program Manager. Any such changes may also impact Cardholders limit and the same would be informed to the Corporate Card Program manager who can further disseminate this information to the respective cardholders. Cardholders seeking to have their credit limit increased can do so by writing to SBICPSL and providing financial documents declaring their income. However SBICPSL, at its sole discretion and based on request received and approval of the Corporate Card Program Manager, may increase the Credit Limit of the Cardholder.

    3. BILLING AND STATEMENT

    a) SBICPSL will send the Cardholder a monthly statement showing the payments credited and the transactions debited to the Cardholder's Account since the last statement, provided the card has been active during the said period. SBICPSL will send a statement through email to the email id on record, on a pre-determined date.

    b) SBI Corporate Card does not offer the cardholder a revolving credit facility. Total Outstanding in any particular statement has to be paid in full to avoid any penal charges.

    c) Payments made towards the card outstanding are acknowledged in subsequent statements. Any dispute regarding input tax credit or any other matter pertaining to taxes shall be communicated to Corporate Card Issuer within 30 days from the date of issuance of the Statement

    d) Payments received against the Cardholder's card outstanding will be adjusted against the taxes, fees and other charges, interest charges, purchases and cash advances, in that order. Card Holder would be responsible for providing correct and timely information for enabling Corporate Card Issuer to undertake appropriate GST compliances which would in turn enable card holder totake input tax credit of supplies made by the Corporate Card Issuer. Card issuer shall not be responsible for any loss of input tax credit or delay in availment of input tax credit to the card holder on account of incorrect information provided by card holder or due to any act or omission by cardholder.

    e) Payments towards the Card account may be made in any of the following ways:
    - By logging onto www.sbicard.com and using Paynet option to make payment through netbanking or your SBI ATM cum debit card.
    - By mailing a Cheque or draft to the mailing address provided in the reverse of the statement.
    - By dropping a Cheque or draft into any of the SBI Card drop boxes placed in your city or in designated State Bank of India branches. The Cheque/draft should be made payable to “SBI Card Number xxxxxxxxxxxxxxxx”.
    - ECS: Payments can be made through the Electronic Clearing System (ECS) in select cities.

    NEFT:

    Beneficiary Name: SBI Cards and Payment Services Pvt. Ltd, Bank Address State Bank of India, GE Capital Branch(04401), 12th Floor, Infinity Towers, Tower-C, DLF Phase- II, Gurugram-122002
    Bank Account Number- 30000712414
    IFSC code: SBIN0004401

    f) SBI Card Offers various mode of making payments of bill outstanding, the same is illustrated at the back of the monthly statement and SBI Card website. Any advance received from card holder shall treated as being an advance towards future spends and not against any charges/fees.

    g) Billing Disputes: All contents of statements will be deemed to be correct and accepted by the Cardholder unless within 30 days of the Statement Date the Cardholder informs SBICPSL of any discrepancies, and these discrepancies are found to be true by SBICPSL. On receipt of such information, SBICPSL may reverse the charge on temporary basis. If on completion of subsequent investigations, the liability of such charges is to the Cardholder's account, the charge will bere instated in a subsequent statement.

    h) Customer Grievance Redressal: All grievance escalations should be marked to Head- Corporate Customer Management, DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City Gurugram-122002 (Haryana) India. The Corporate Card Program Manager or the Cardholder can also contact SBICPSL for making any enquiries or for any grievance redressal through an e-mail to sbicorporate.services@sbicard.com or through the 24-Hour SBI Card Helpline: 1860 180 1290, 39 02 02 02 (prefix local STD code) - from time to time for settlement of any outstanding on the card account, by post, fax, telephone, e-mail, SMS messaging and/or engage third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on debt collection. The total Outstanding on the Card account, together with the amount of any Charges effected but notyet charged to the Card Account, will become immediately due and payable in full to SBICPSL on bankruptcy or death of the Cardholder and the Card Account shall immediately stand Cancelled. The Cardholder's estate will be responsible for settling any Outstanding on the Card Account and should keep SBICPSL indemnified against all costs, including legal fees and expenses incurred in recovering such Outstanding.

    Pending such repayments, SBICPSL will be entitled to continue to levy finance charges at its prevailing rates.

    4. DEFAULT

    In the event of default, the Cardholder will be sent reminders from time to time for settlement of any outstanding on the card account, by post, fax, telephone, e-mail, SMS messaging and/or engage third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on debt collection. The total Outstanding on the Card account, together with the amount of any Charges effected but not yet charged to the Card Account, will become immediately due and payable in full to SBICPSL on bankruptcy or death of the Cardholder and the Card Account shall immediately stand cancelled. The Cardholder's estate will be responsible for settling any Outstanding on the Card Account and should keep SBICPSL indemnified against all costs, including legal fees and expenses incurred in recovering such Outstanding. Pending such repayments, SBICPSL will be entitled to continue to levy finance charges at its prevailing rates.

    Before reporting default status of a Cardholder to a Credit Information Company which has obtained Certificate of Registration from RBI and of which the SBICPSL is a member, we will provide a months' notice to the Cardholder.

    It may further be noted, that if a Cardholder, post being reported as defaulter, clears his/her dues, then SBICPSL would withdraw the defaulter status from the Credit Information Company. Such changes may take 45-60 days to reflect in Cardholder’s credit report. SBICPSL submits the Cardholder’s data to a Credit Information Company every month in the prescribed format. Credit Information Company uploads the submitted data onto their server within 30 days' time.

    SBICPSL at its sole discretion may provide some insurance cover along with the Corporate Card and shall have full right to withdraw the same without any prior notice to the corporate/cardholder. SBICPSL shall update the details of such offerings at the website at all times. For updated details, Corporate/Cardholders shall refer to www.sbicard.com. The respective insurance cover will be applicable and/or activated from the date of issuance of corporate card to the corporate cardholder. 

    5. TERMINATION/REVOCATION OF THE CARDHOLDERSHIP

    a) The Corporate Card Program Manager or the Cardholder with an approval from the Corporate Card Program Manager may end the Agreement at any time by writing to SBICPSL or calling in to the SBICard Helpline, and by cutting the card(s) diagonally. Termination will be effective after payment of all amounts outstanding on the card account by the cardholder. No joining or renewal/annual fees shall be refunded on a pro-ratabasis.

    b) SBICPSL may also restrict, terminate or suspend the use of The Cardholder Account at any time without prior notice if SBICPSL reasonably believe it necessary for business or security reasons and/or at the request of any law enforcement agency, and/or any government authority and/or under the laws & regulations which apply to SBICPSL& its customer.

    c) SBICPSL can suspend the facility on the Corporate Card, if the Cardholder defaults on the payment due or exceeds the credit limit extended. The Card must not be used after the Agreement ends or while use of Card Account is suspended. In such a situation, the Cardholder must (subject to any default or other notice required by law) immediately pay SBICPSL the total outstanding Balance on the Account. This includes all amounts due to SBICPSL under the Agreement, including all transactions and other amounts not yet charged to the Account. The Cardholder Account will not be considered as closed until the Cardholder has paid all such due amounts.

    6. LOSS/THEFT/MISUSE OF CARD

    a) The Cardholder should contact SBICPSL as soon as possible at the SBI Card Helpline if the Corporate Card is misplaced, lost, stolen, mutilated, not received when due or if he/shesuspects that the Corporate Card is being used without the Cardholder's permission. Once a card is reported lost, it should not, under any circumstance be used if found by the Cardholder subsequently, and the Cardholder should cut the card diagonally in half.
    · The Cardholder can also block the card instantly either on IVR or our website www.sbicard.com or through PULL SMS
    · To block your lost/stolen card through PULL SMS, just SMS BLOCK XXXX to 5676791 from your registered mobile number. (XXXX = Last 4 digits of your Card number). If you do not receive a confirmation SMS within 5 minutes of your request, please do not consider the card to have been blocked. Please call up the help line to get your card blocked immediately and to avoid any misuse.

    b) The Cardholder must notify to SBICPSL through any of the multiple channels for reporting unauthorized transactions that have taken place and/or loss or theft of the Card. SBICPSL will be responsible for any unauthorized electronic banking transactions only in terms of and in accordance with the directions on “Customer Protection – Limiting Liability of Customers in Unauthorized Electronic Banking Transactions”.
    SBICPSL is not liable or responsible for any transactions incurred on the card account prior to the time of reporting of the loss of the card to SBICPSL and the Cardholder will be wholly liable for the same unless the loss to the customer is due to deficiency on the part of SBICPSL. After the receipt of proper notification of the loss by SBICPSL (via website, phone banking, SMS, email, IVR or dedicated helpline), the Cardholder's subsequent liability is restricted Upto a maximum of Rs.1000 In addition to notifying SBICPSL about the loss or theft of the Card, the Cardholder must report any theft of the Corporate Card(s) to the Police and lodge an FIR. The Cardholder will, however, be liable for all losses when someone obtains and misuses the Card or PIN with the Cardholder's consent,

    c) If the Cardholder has acted fraudulently the Cardholder will be liable for all losses. If the Cardholder acts without reasonable care, the Cardholder may be liable for all losses incurred. This may apply if the Cardholder fails to follow the safeguards as specified by SBICPSL.

    d) As per Reserve Bank of India (RBI) mandate, dated 06 Jul’17 on Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, a policy is designed to ensure customer protection relating to unauthorized credit card transactions. The same is updated on SBI Card’s website under “Customer Grievance Redressal Policy”. The policy is based on the principles of transparency and fairness in treatment of customers

    e) SBICPSL may, without referring to the Cardholder or any Additional Cardholder, give the police or other relevant authorities any information that SBICPSL considers relevant about the loss, theft or misuse of a Card or PIN.

    f) Changes in contact details of your Corporate Card account would be intimated to your new as well as preceding contact details in the system. It is advised to keep your current contact details updated in our records.

    7. DISCLOSURE

    The Cardholder acknowledges that SBICPSL is authorized to share Cardholder information with any of the existing or future credit bureaus only after issuing sufficient notice about the intention to report the Cardholder, and such information may pertain to positive or negative performance/default by the Cardholder. Such update may take 45-60 days to reflect in credit bureau report. The Credit Information Bureau India Ltd. (CIBIL), is an initiative of the Government of India and the Reserve Bank of India (RBI) to improve the functionality and stability of the Indian financial system. This is in line with RBI's efforts to provide an effective mechanism for exchange of information between banks and financial institutions, thereby enabling cardholders to avail of better credit terms from various institutions. The Cardholder further acknowledges that SBICPSL is authorized to share Cardholder information, including default in payments with Financial Institution, employer and to other third parties engaged by SBICPSL for proper operation of card accounts, verification and other administrative services. SBICPSL may also share Cardholder information with any parent, subsidiary, affiliate or associate of SBICPSL, for the purposes of marketing and offering various products and services of SBICPSL or its group companies, subsidiaries, affiliates and/or associates.
    SBI Card Most Important Terms and Conditions are also available at www.sbicard.com

    Important Regulatory information
    - The Card is valid for use both in India as well as abroad. It is, however, not valid for making foreign currency transactions in Nepal and Bhutan.
    - Usage of the Card for transacting outside India must be made in accordance with applicable law including the Exchange Management Regulations of the RBI and the Foreign Exchange Management Act,1999. Foreign exchange trading through internet trading portals is not permitted. In the event of any violations or failure to comply, you may be liable for penal action. You should consult your Authorized Dealer (AD) regarding your Foreign Exchange Entitlement.
    - If you have any credit balance on the Corporate Card account, SBI Card has the right to return this credit balance to you.
    - Please do not use Corporate Cards for making remittances /payments towards capital account transactions such as investment in overseas entities or setting up of entities overseas as it is not a permissible method of funding under RBI's Master Direction - Direct Investments by Residents in Joint Venture/ Wholly Owned Subsidiary abroad.
    - As per RBI Master Circular- Master Circular on Miscellaneous Remittances from India facilities for Residents, use of Corporate Card is prohibited for purchase of prohibited items like lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call-back services, etc., since no drawal of foreign exchange is permitted for such items/activities. Please refer Master Circular on Miscellaneous Remittances from India facilities for Residents for more details.

    8. SCHEDULE OF CHARGES

    Fees

    Platinum

    Signature

    Virtual Card

    Joining Fee (one time)

    NIL

    NIL

    NIL

    Annual Fee (p.a.)

    NIL

    Rs.499

    NIL

    Extended Credit

    Interest Free Credit Period

    20-50 days (applicable only on retail purchases and if previous month's outstanding balance is paid in full) 15-32 days (applicable only in case of SBI Corporate Utility Card)

    Finance Charges#

    Upto 3.35% p.m. (40.2% p.a.) from the transaction date (It is a charge card and does not offer revolving facility)

    Total Amount Payable

    Total Outstanding Due

    Cash Advance (If Applicable)

    Cash Advance Limit (If Applicable)

    Variable

    Free Credit Period

    Nil

    Finance Charges#

    Upto 3.35% p.m. (40.2% p.a.) from the date of withdrawal

    Cash Advance Fees (If Applicable)

    SBI ATMs / Other Domestic ATMs

    Upto 2.5% of withdrawal amount or upto Rs. 450 (WIH) per transaction

    International ATMs

    Upto 3% of withdrawal amount or upto Rs. 450 (WIH) per transaction

    Other Charges & Fees (If Applicable)

    Payment Dishonor fee

    2% of Payment amount (subject to a minimum of Rs. 450)

    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.400 for Total Amount due greater than Rs.500 & up to Rs.1000

    Rs.500 for Total Amount due greater than Rs.1000 & up to Rs.10,000

    Rs.750 for Total Amount due greater than Rs.10,000

    Overlimit

    Not Applicable for Corporate Card

    Emergency Card Replacement

    Complimentary

    Foreign Currency Transaction

    Conversion mark up: Upto 3.5%

    Annual Priority Pass Fee

    Upto Rs. 180 for Platinum and Complimentary for Signature

    Priority Pass Lounge Charges

    All Airport Lounge visits within India through the Priority Pass Program will be charged with an usage fee of $27 per visit + applicable taxes. For more details, please visit sbicard.com All guests being accompanied by the SBI Cardholder having the Priority Pass, to visit the Airport Lounge will be charged with an usage fee of $27 per visit + applicable taxes.

    Annual Reward Fee

    Upto Rs 300

    Rewards Redemption Fee

    Rs. 99

    Cash Payment fee

    Upto Rs.100

    Surcharge

    Railway Tickets -Railway Counters

    Rs. 30 + 2.5% of transaction amount

    Railway Tickets www.irctc.co.in

    1.8% of transaction amount + service charge, as applicable

    Petrol & all products /services sold at petrol Pupms

    1% of transaction value, 1% surcharge waiver (excluding all applicable taxes wherever applicable + other charges) for single transaction spends between Rs.500 and Rs.4000 for Signature & Platinum Cards.
    Maximum surcharge waiver of Rs.250 per statement cycle per Corporate Card account for signature & platinum cards.

    Payment of Customs duty

    2.25% of transaction amount (subject to a minimum of Rs. 75)

    Order of Payment

    Total Amount Due (which is inclusive of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding and cash advance.


    *Any changes in schedule of charges will be communicated via email and will be available on our website www.sbicard.com

    # Card Finance charge is dynamic and will be based on the cardholder's usage and payment patterns and is subject to periodic review.

    All taxes would be charged as applicable on all the above Fees, Interest & Charges.
    “Applicable Taxes” (for Statements issued on or after 1st July, 2017) means:
    - For the cardholders having state of residence in the records of SBI Card on the statement date as“Haryana” - Central Tax @ 9% and State Tax @ 9%
    - For the cardholders having state of residence in the records of SBI Card on the statement date as other than “Haryana” - Integrated Tax @ 18%
    Your continued usage of the card will be deemed as acceptance of these amendments.

    SBI Card Helpline
    39 02 02 02 (prefix local STD code), 1860 180 1290
    All terms & conditions mentioned in this document (including schedule of charges) are the standard conditions and charges applicable to all Corporates. Any changes to these would be mutually agreed between SBICPSL and the respective corporate through a separate addendum or would be a part of the Corporate Card agreement signed with the Corporate.

    All information in this communication is correct as per June 2018 and is subject to change at the discretion of SBICPSL. SBI Card Most Important Terms and Conditions are also available at www.sbicard.com

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