Most Important Terms and Conditions

Most Important Terms & Conditions

  • SBI Corporate Signature Card

    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 Credit Card (SBI Card). These fees may vary from Cardholder to Cardholder, and from offer to offer. These shall be as communicated to the Cardholder at the time of applying for the credit 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 Rs 2.5% or Rs 300 whichever is higher at domestic SBI ATMs / Cashpoints, and Rs.300 or 2.5% whichever is higher, at other domestic ATM's and 3% or Rs. 300, 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 Credit Card number & Amount in the pay-in slip and depositing the same at the branch counter. An instant payment acknowledgement 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. 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. 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 March'16-2ndApril'16 are as follows: Retail Purchase of INR. 5000 – On 10th Mar'16; Cash Withdrawal ( if applicable) of INR.7000 – On 30th Mar'16

    Assuming no previous balance carried forward from the 2nd March 2016 statement, the cardholder will get his 2nd April 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 April 2016, 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'16 – 2nd Feb'16 are as follows: Retail Purchase of INR. 10000 – On 5th Jan'16; Online Purchase of INR. 30000 – On 15th Jan'16

    Assuming no previous balance carried forward from the 2nd Jan 2016 statement, the cardholder will get his 2nd Feb statement showing Rs. 40,000 transactions. The cardholder needs to make payment against the outstanding by 22nd Feb 2016, 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).

    G. 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'16 – 2nd Mar'16 are as follows : Retail Purchase of INR. 2000 – On 8th Feb'16; Online Purchase of INR. 2500 – On 19th Feb'16.

    Assuming no previous balance carried forward from the 2nd Feb 2016 statement, the cardholder will get his 2nd March statement showing Rs. 4500 transactions. The cardholder needs to make payment against the outstanding by 22nd March 2016, 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

    As a service gesture SBI Card may approve certain transactions attempted by the cardholder which are over and above the credit limit, Please note that if the outstanding amount exceeds the credit limit, an over-limit fee of 2.5 % of the over-limit amount or Rs 500, whichever is higher will be levied. Over-limit status may also happen because of fees and/or interest charges.

    I. In case of a cheque bounce, a charge of 2% of Cheque Amount (Min Rs. 350 & Max Rs 500).

    J. Other charges:

    · Card Replacement Fee: Rs. 100/- – Rs. 250/-

    · Chargeslip Retrieval Fee: Rs 225/

    · 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: 3.5% (For All Cards Except Elite) 1.99% (For Elite Cardholders Only)

    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 review the Cardholder account periodically, and increase or decrease the Cardholder credit limit based on internal criteria. Cardholders seeking to have their credit limit increased can do so by writing to SBICPSL and providing financial documents declaring their income. SBICPSL, at its sole discretion and based on request received from 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 either mail a statement of transactions in the card account to the mailing address it has on record, or 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.

    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.

    e) Payments towards the Card account may be made in any of the following ways :(Page 05 )

    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 major 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, Gurgaon-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

    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 be reinstated in a subsequent statement, along with Charge slip Retrieval charges of Rs. 225 per charge slip.

    h) Customer Grievance Redressal: All grievance escalations   should be marked to Head- Corproate Customer Managemnt,DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City Gurgaon-122002 (Haryana) India. The Cardholder can also contact SBICPSL for making any enquiries or for any grievance redressal either 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)   

    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 Primary Cardholder and the Card Account shall immediately stand cancelled. The Primary 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. 

    5. TERMINATION/REVOCATION OF THE CARDHOLDERSHIP

    a) The Cardholder may end the Agreement at any time by writing to SBICPSL or calling in to the SBI Card Helpline, and by cutting the card(s) diagonally. All the cards including the add-on cards will be terminated basis the written request. Termination will be effective after payment of all amounts outstanding on the card account. No annual, joining or renewal fees shall be refunded on a pro-rata basis.

    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.

    SBICPSL can suspend the facility on the Credit 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.

    c) 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 Primary or any Additional credit card is misplaced, lost, stolen, mutilated, not received when due or if he/she suspects that the credit 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) 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. After the receipt of proper notification of the loss by SBICPSL, the Cardholder's subsequent liability is restricted Upto a maximum of Rs.1000 (for SBI Gold Cardholders Nil). In addition to notifying SBICPSL about the loss or theft of the Card, the Cardholder must report any theft of the Credit Card(s) to the Police and lodge anFIR.The Cardholder will, however, be liable for all losses when someone obtains and misuses the Card or PIN with the Cardholder's consent, or the consent of an Additional Cardholder.

    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) 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.

    e) Changes in contact details of your credit 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 existing or future credit bureaus without any notice to this intent to 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 Control 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 credit card account, SBI Card has the right to return this credit balance to you.

    - Please do not use credit 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 Credit 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

    Joining Fee (one time)

    NIL

    Annual Fee (p.a.)

    Upto Rs. 499

    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)

    Finance Charges#

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

    Total Amount Payable

    Total Outstanding Due

    Cash Advance (If Applicable)

    Cash Advance Limit

    Variable

    (If Applicable)

     

    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. 400 (WIH) per transaction

    International ATMs

    Upto 3% of withdrawal amount or upto Rs. 400 (WIH) per transaction

    Other Charges & Fees (If Applicable)

    Payment Dishonor fee

    2% of Payment amount (subject to a minimum of Rs. 350)

    Charge slip Retrieval

    Rs. 225 per Charge slip

    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

    2.5% of Overlimit Amount (Min. Rs. 500)

    Emergency Card Replacement

    Complimentary

    Foreign Currency Transaction

    Conversion mark up: 3.5%

    Annual Priority Pass Fee

    Rs. 180 for Platinum & Complimentary for Signature

    Annual Reward Fee

    Rs. 300

    Rewards Redemption Fee

    upto Rs.99

    Cash Payment fee

    Rs.100

    Surcharge

    Railway Tickets -

    Rs. 30 + 2.5% of transaction amount

    Railway Counters

     

    Railway Tickets - www.irctc.co.in

    1.8% of transaction amount + service charge, as applicable

    Petrol & all products/ services

    1 % of transaction value or Rs. 10 which ever is higher 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; Rs.500 and Rs.3000 for all other cards Maximum surcharge waiver of Rs.250 per statement cycle per credit card account for signature & platinum cards; Rs.100 per credit card account for all other 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 Settlement of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding and cash advance. Government Service Tax, as applicable, on all the above Fees, Interest & Charges.

    *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 Corporate Platinum Card

    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 Credit Card (SBI Card). These fees may vary from Cardholder to Cardholder, and from offer to offer. These shall be as communicated to the Cardholder at the time of applying for the credit 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 Rs 2.5% or Rs 300 whichever is higher at domestic SBI ATMs / Cashpoints, and Rs.300 or 2.5% whichever is higher, at other domestic ATM's and 3% or Rs. 300, 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 Credit Card number & Amount in the pay-in slip and depositing the same at the branch counter. An instant payment acknowledgement 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. 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. 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 March'16-2ndApril'16 are as follows: Retail Purchase of INR. 5000 – On 10th Mar'16; Cash Withdrawal ( if applicable) of INR.7000 – On 30th Mar'16

    Assuming no previous balance carried forward from the 2nd March 2016 statement, the cardholder will get his 2nd April 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 April 2016, 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'16 – 2nd Feb'16 are as follows: Retail Purchase of INR. 10000 – On 5th Jan'16; Online Purchase of INR. 30000 – On 15th Jan'16

    Assuming no previous balance carried forward from the 2nd Jan 2016 statement, the cardholder will get his 2nd Feb statement showing Rs. 40,000 transactions. The cardholder needs to make payment against the outstanding by 22nd Feb 2016, 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).

    G. 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'16 – 2nd Mar'16 are as follows : Retail Purchase of INR. 2000 – On 8th Feb'16; Online Purchase of INR. 2500 – On 19th Feb'16.

    Assuming no previous balance carried forward from the 2nd Feb 2016 statement, the cardholder will get his 2nd March statement showing Rs. 4500 transactions. The cardholder needs to make payment against the outstanding by 22nd March 2016, 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

    As a service gesture SBI Card may approve certain transactions attempted by the cardholder which are over and above the credit limit, Please note that if the outstanding amount exceeds the credit limit, an over-limit fee of 2.5 % of the over-limit amount or Rs 500, whichever is higher will be levied. Over-limit status may also happen because of fees and/or interest charges.

    I. In case of a cheque bounce, a charge of 2% of Cheque Amount (Min Rs. 350 & Max Rs 500).

    J. Other charges:

    · Card Replacement Fee: Rs. 100/- – Rs. 250/-

    · Chargeslip Retrieval Fee: Rs 225/

    · 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: 3.5% (For All Cards Except Elite) 1.99% (For Elite Cardholders Only)

    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 review the Cardholder account periodically, and increase or decrease the Cardholder credit limit based on internal criteria. Cardholders seeking to have their credit limit increased can do so by writing to SBICPSL and providing financial documents declaring their income. SBICPSL, at its sole discretion and based on request received from 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 either mail a statement of transactions in the card account to the mailing address it has on record, or 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.

    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.

    e) Payments towards the Card account may be made in any of the following ways :(Page 05 )

    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 major 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, Gurgaon-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

    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 be reinstated in a subsequent statement, along with Charge slip Retrieval charges of Rs. 225 per charge slip.

    h) Customer Grievance Redressal: All grievance escalations   should be marked to Head- Corproate Customer Managemnt,DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City Gurgaon-122002 (Haryana) India. The Cardholder can also contact SBICPSL for making any enquiries or for any grievance redressal either 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)   

    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 Primary Cardholder and the Card Account shall immediately stand cancelled. The Primary 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. 

    5. TERMINATION/REVOCATION OF THE CARDHOLDERSHIP

    a) The Cardholder may end the Agreement at any time by writing to SBICPSL or calling in to the SBI Card Helpline, and by cutting the card(s) diagonally. All the cards including the add-on cards will be terminated basis the written request. Termination will be effective after payment of all amounts outstanding on the card account. No annual, joining or renewal fees shall be refunded on a pro-rata basis.

    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.

    SBICPSL can suspend the facility on the Credit 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.

    c) 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 Primary or any Additional credit card is misplaced, lost, stolen, mutilated, not received when due or if he/she suspects that the credit 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) 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. After the receipt of proper notification of the loss by SBICPSL, the Cardholder's subsequent liability is restricted Upto a maximum of Rs.1000 (for SBI Gold Cardholders Nil). In addition to notifying SBICPSL about the loss or theft of the Card, the Cardholder must report any theft of the Credit Card(s) to the Police and lodge anFIR.The Cardholder will, however, be liable for all losses when someone obtains and misuses the Card or PIN with the Cardholder's consent, or the consent of an Additional Cardholder.

    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) 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.

    e) Changes in contact details of your credit 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 existing or future credit bureaus without any notice to this intent to 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 Control 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 credit card account, SBI Card has the right to return this credit balance to you.

    - Please do not use credit 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 Credit 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

    Joining Fee (one time)

    NIL

    Annual Fee (p.a.)

    Upto Rs. 499

    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)

    Finance Charges#

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

    Total Amount Payable

    Total Outstanding Due

    Cash Advance (If Applicable)

    Cash Advance Limit

    Variable

    (If Applicable)

     

    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. 400 (WIH) per transaction

    International ATMs

    Upto 3% of withdrawal amount or upto Rs. 400 (WIH) per transaction

    Other Charges & Fees (If Applicable)

    Payment Dishonor fee

    2% of Payment amount (subject to a minimum of Rs. 350)

    Charge slip Retrieval

    Rs. 225 per Charge slip

    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

    2.5% of Overlimit Amount (Min. Rs. 500)

    Emergency Card Replacement

    Complimentary

    Foreign Currency Transaction

    Conversion mark up: 3.5%

    Annual Priority Pass Fee

    Rs. 180 for Platinum & Complimentary for Signature

    Annual Reward Fee

    Rs. 300

    Rewards Redemption Fee

    upto Rs.99

    Cash Payment fee

    Rs.100

    Surcharge

    Railway Tickets -

    Rs. 30 + 2.5% of transaction amount

    Railway Counters

     

    Railway Tickets - www.irctc.co.in

    1.8% of transaction amount + service charge, as applicable

    Petrol & all products/ services

    1 % of transaction value or Rs. 10 which ever is higher 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; Rs.500 and Rs.3000 for all other cards Maximum surcharge waiver of Rs.250 per statement cycle per credit card account for signature & platinum cards; Rs.100 per credit card account for all other 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 Settlement of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding and cash advance. Government Service Tax, as applicable, on all the above Fees, Interest & Charges.

    *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 Corporate Utility Card

     
     
    1. Statement of account & Payment Due date:

    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 your convenience, an unbilled transaction summary shall also be issued on 13th day of the same month wherein debit transactions for a period between 3rd to 13th of the same month are duly reflected.

    2. FEES AND CHARGES
    1. Joining Fees, Annual Fees & Renewal Fees There are joining fees, annual fees and renewal fees applicable on the SBI Corporate Utility Credit Card. These fees may vary from Cardholder to Cardholder, and from offer to offer. These shall be as communicated to the Cardholder at the time of applying for the credit 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.
    2. Charges I. Charges and fees, as may be applicable from time to time, are payable by the Company for specific services provided by SBICPSL to the Cardholder as business utility expenses only or for defaults committed by the Company /Cardholder with reference to the Corporate Utility Credit 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 the Company/ Cardholders.
    3. Interest Free Grace Period The interest free credit period could range from 15 to 32 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
    4. Finance Charges (Service Charges) On the consolidated statement of account, Finance Charges are payable at the monthly percentage rate on all transactions from the date of transaction in the event of the Company choosing not to pay its outstanding balance in full by the Company. Corporate Utility Credit Cardfinance charge is dynamic and will be based on the Cardholder's usage and the Company's 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. Finance charges, if payable, are subject to levy of Applicable Taxes and are debited to the Company/Cardholder's account till the outstanding on the card is paid in full.
      a. The Late Payment charges will be applicable if Total Amount Payable is not paid by the paymentdue date, and are applicable as per the following:
      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
      b. If usage exceeds credit limit available on the card, on outstanding exceeding the assigned credit limit, certain overlimit charges will be levied and made applicable. Such overlimit charges shall be levied at the rate of Rs. 2.5% of the overlimit amount or Rs. 500, whichever is higher (If applicable)
      c. Payment of any amount lesser than the Total Amount Due in any month results in interest accrual on the balance outstanding amount including any new purchases. For Example - If the Cardholder has his billing statement generated 15th day of every month and he does the following transactions between the period 16th July 2008 and 15th August 2008. Retail purchases for Rs.5,000 on 20th July 2008. Assuming No Previous Balance carried forward from the 15th July 2008 statement, the cardholder will get his 15th August 2008 statement showing Rs.5,000 of transactions. The cardholder needs to make payment against the complete outstanding by 29th August 2008, i.e. 14 days from the Statement Date..If the Outstanding balance on the Utility Card Account is not paid in full by its due date, a finance charge will be levied on any new purchase(and any related debited charge) from the day on which the purchase (and any related debited charge) is debited to the Card Account and on the Outstanding account balance on the Card Account from the first day of the last statement period. In the event that the Card Account is not settled in full on the Payment Due Date (whether by the Corporate Utility Cardholder or the Company), SBICPSL will ordinarily levy a finance charge at the prevailing rate on the Purchase Balance Outstanding on the Card Account on a daily basis by applying its current daily percentage rate to the amount of the Purchase Balance Outstanding at the end of each day. Please note that any payment made against your Credit Card outstanding, would first be cleared against your EMI Balance (if any) followed by Balance Transfer Balance (if any), Retail Balance (if any) and would be adjusted against your Cash Balance (if any) last. 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. Incase the statement outstanding has no 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.
    3. LIMITS

    a.) Over all Credit Limit on the Corporate Utility Credit Cards are assigned to the Company based on internal SBICPSL credit criteria and as per duly notified borrowings stipulated by the Board of the Company . These limits are communicated to the Company and individual Corporate Utility Credit Cardholder and other authorized personel of the Company at the time of card delivery. Additionally the Credit Limit is communicated to the Cardholder in both consolidated credit card statement as well as the unbilled transaction summary 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 review the Company / Cardholder account periodically, and increase or decrease the Company/ Cardholder credit limit based on internal criteria. Cardholders seeking to have their credit limit increased can do so by writing to SBICPSL and providing suitable Board Resolution and other underlying financial documents and other such other suitable documents prescribed at its sole discretion by SBICPSL from time to time and in compliance to applicable laws, Rules and Regulations, SBICPSL based on such new documents provided, may increase the Credit Limit of the Company/Cardholder.

    4. BILLING AND STATEMENT
    1. 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 and further enumerated in the applicable Corporate Utility Card Agreement. SBICPSL will either mail a statement of transactions in the card account to the send a statement through email to the registered email id on record, on a predetermined date. The Cardholder and the Company shall be issued credit card statement separately. SBICPSL shall send a consolidated statement of account and an unbilled transaction summary in the month. First statement of accounts will be consolidated statement consisting of all debit and credit details of the individual. Second, unbilled transaction summary shall consist of only debit transactions between 3rd to 13th of the same month.
    2. Payments made towards the card outstanding are acknowledged in subsequent consolidated statement of Account. Cardholder needs to make payment as per payment due date specified in the statement.
    3. Payments received against the cardholder's card outstanding will be adjusted against taxes, charges, purchases.
    4. Payments towards the Card account may be made in any of the following ways: ECS: Payments can be made through the Electronic Clearing System (ECS) in Bangalore, Delhi, Gurgaon, Hyderabad and Mumbai. 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, Gurgaon- 122002 Bank Account Number- 30000712414 IFSC code : SBIN0004401
    5. Customer Grievance Redressal: All grievance escalations should be marked to Amit Kalra, Assistant Vice President - Customer Services at PO Bag 28 - GPO, NewDelhi - 110001 or e-mail at sbicorporate.services@sbicard.com
    6. Contact Particulars: The Cardholder can contact SBICPSL for making any enquiries or for any grievance redressal through any of the following ways : SBI Card Helpline, Through mail, by writing to The Manager - Customer Services, SBI Cards & Payment Services Pvt. Ltd., DLF Infinity Towers, Tower C, 10th Floor, Block 2, Building 3, DLF Cyber City Gurgaon-122002 (Haryana) Through email by writing in at sbicorporate.services@sbicard.com
    5. 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 SBICPSL 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 and the Card Account shall immediately stand cancelled. At all times the Company will be singularly liable and 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.

    6. TERMINATION / REVOCATION OF THE CARDHOLDERSHIP
    1. The Cardholder/Authorized Signatory may end the Agreement at any time by writing to SBICPSL or calling in to the SBI Card Helpline, and by cutting the card(s) diagonally. All the cards will be terminated basis the written request. Termination will be effective after payment of all amounts outstanding on the card account. No annual, joining or renewal fees shall be refunded on a prorata basis. The Cardholder, the Authorized signatory and SBICPSL shall observe the termination terms of the Corporate Utility Card Agreement while operationalizing the terms herein. In all circumstances and for all ends and intents the primary obligations shall be of the Company acting through it authorized signatory to settle all outstanding of SBICPSL notwithstanding termination in the aforesaid manner. All such obligations of the Company/Authorized signatory shall be continuing nature with respect to covenants contained hereinabove.
    2. 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, security, credit risk and other related reasons. SBICPSL can suspend the facility on the Credit 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.
    3. In such a situation, the the Company and all its authorized signatories and holder of Corporate Utility Credit Card 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.
    7. LOSS/THEFT/MISUSE OF CARD
    1. The Cardholder should contact SBICPSL as soon as possible at the SBI Card Helpline if the Primary or any Additional credit card is misplaced, lost, stolen, mutilated, not received when due or if he/she suspects that the credit 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.
    2. 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. After the receipt of proper notification of the loss by The Company acting through its Authorized Representatives and other holder of Corporate utility Credit Card, shall immediately notify SBICPSL about the loss or theft of the Card and additionally must report the theft or loss of the Credit Card(s) to the Police in writing and further ensure lodging of a First Information Report ("FIR") . The responsibility to do so shall be of the Company, Corporate Utility Cardholder and other authorized signatories.
    3. The Cardholder will, however, be liable for all losses when someone obtains and misuses the Card with the Cardholder's consent.
    4. If the Company acting through its Authorized signatory 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. 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 .
    8. DISCLOSURE

    The Cardholder acknowledges that SBICPSL is authorized to share Cardholder information with any existing or future credit bureaus without any notice to this intent to 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.

    9. SCHEDULE OF CHARGES
    Fees
    Joining Fee (one time)
    NIL
    Annual Fee (p.a.)
    NIL
    Extended Credit
    Interest Free Credit Period
    15-32 days (applicable only on retail purchases and if previous month's outstanding balance is paid in full)
       
    Finance Charges#
    (For Consolidated Statement)
    Upto 3.35%p.m. (40.2%p.a. from the transaction date
       
    Total Amount Payable
    Minimum Amount Due
    Total Outstanding Due (For consolidated Statement)
    Total amount due
    Other Charges & Fees (If Applicable)
    Payment Dishonor fee
    Chargeslip Retrieval
    2% of Payment amount(subject to a minimum of Rs. 350)
    Rs. 225 per Chargeslip
       
    Late Payment
    (For Consolidated Statement generated on 2nd)
    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
       
    Emergency Card Replacement
    Complimentary
       
    Foreign Currency Transaction
    Conversion mark up: 3.5%
       
    Order of Payment
    Settlement
    Total amount due (which is inclusive
    of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding and cash advance.

    “Applicable Taxes” 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%
    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 MAY 2016 and is subject to change at the discretion of SBICPSL.

     
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