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FAQs

Credit Balance Refund FAQ

  • Q1. My credit card is closed. Can I place a refund request?

  • Yes, you can place a Credit Balance Refund request, if refund amount is >/= 1 Rupee.

  • Q2. How much time will it take to get the Credit Balance Refund in my saving account?

  • 7 working days

  • Q3. I don’t have any bank account. Can I get Credit Balance Refund done in my family member’s account?

  • No, the refund amount can be processed in primary cardholder’s account only.

  • Q4. In case of deceased Cardholder, What should I do to get the refund transferred to my account? I am his/her family member?

  • Please share below documents along with NEFT details:

    • Death Certificate
    • Affidavit cum indemnity bond
    • Legal heir certificate
    • NOC letter from another legal heir mentioned on certificate, if any

  • Q5. My SBI Credit Card account is blocked and few EMI’s are running on card. Can I get the excess amount available on my card?

  • Yes, you can get the Credit Balance Refund if available, post closure of all the EMI’s running on your account.

  • Q6. I have received refund from merchant. Can I place Credit Balance Refund request?

  • Yes, request can be placed. Amount will be refunded post validation.

  • Q7. My account is cancelled/blocked. Can I place request for Credit Balance Refund?

  • Yes, request can be placed. Amount will be refunded post validation.

  • Q8. Can I get the Credit Balance Refund by cheque?

  • Credit Balance Refund is done by NEFT only.

  • Q9. Can I get the Credit Balance Refund in my joint account?

  • Yes. Refund can process on joint a/c, if Primary cardholder is one of the account holders.

  • Q10. My name is different in Bank record and SBI Card record. What should I do to get the Credit Balance Refund?

  • Please get your name updated in our record & post name change you can raise the request for the refund.

  • Q11. Can I get the refund if KYC is due on my account?

  • No, Credit Balance Refund can be initiated only after KYC updation.

  • Q12. Is there any minimum limit for refund in case of active account?

  • Refund request can be made for an amount >/= Rs. 500 in case of an active account.