Most Important Terms & Conditions
Manage your account on the go with the SBI Card Mobile App
A. Annual & Renewal Fees
There is Annual Fee and Renewal Fee applicable on the SBI Credit Card (SBI Card). Annual fee is a one-time charge ranging between Rs. 0 to Rs.9999 plus applicable taxes and renewal fee is charged every year and ranges between Rs. 0 to Rs.9999 plus applicable taxes. These fees may vary from Cardholder to Cardholder and for different card variants. These shall be as communicated to the Cardholder at the time of applying for the credit card. These fees, as applicable, are charged to the Cardholder account and the same would be billed in the card statement of the month in which it is charged. There may be separate fees for additional cards issued to the Primary Cardholder.
Credit Card Name |
Annual Fee (Rs.) |
Renewal Fee (Rs.) |
AURUM |
9,999 |
9,999 (Waived off on annual spends of 12 Lakh or more in the preceding year) |
SBI Card ELITE |
4,999 |
4,999 (Waived off on annual spends of 10 Lakh or more in the preceding year) |
SBI Card ELITE Advantage |
4,999 |
4,999 (Waived off on annual spends of 10 Lakh or more in the preceding year) |
SBI Card PRIME |
2,999 |
2,999(Waived off on annual spends of 3 Lakh or more in the preceding year) |
SBI Card PRIME Advantage |
2,999 |
2,999(Waived off on annual spends of 3 Lakh or more in the preceding year) |
Doctor's SBI Card |
1,499 |
1,499 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
Shaurya Select SBI Card |
NIL |
1,499 (Waived off on annual spends of 1.5 Lakh or more in the preceding year) |
Shaurya SBI Card |
250 |
250 (Waived off on annual spends of 50,000 or more in the preceding year) |
SBI Card PULSE |
1,499 |
1,499 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
CASHBACK SBI Card |
999 |
999 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
SimplyCLICK SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
SimplyCLICK Advantage SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
SimplySAVE Advantage SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
SBI Card Unnati |
NIL |
499 (5th Year Onwards) |
Krishak Unnati SBI Card |
NIL |
499 (Waived off on annual spends of 30,000 or more in the preceding year) |
SBI Card Vyapaar Unnati |
499 (Free for first 4 years) |
499 |
Aditya Birla SBI Card |
499 |
499 |
Aditya Birla SBI Card SELECT |
1499 |
1,499 |
Air India SBI Platinum Card |
1499 |
1,499 |
Air India SBI Signature Card |
4999 |
4,999 |
Apollo SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
BPCL SBI Card |
499 |
499 (Waived off on annual spends of 50000 or more in the preceding year) |
BPCL SBI Card Octane |
1499 |
1,499 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
Club Vistara SBI Card PRIME |
2999 |
2,999 |
Club Vistara SBI Card |
1499 |
1,499 |
Delhi Metro SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Etihad Guest SBI Card |
1499 |
1,499 |
Etihad Guest SBI Premier Card |
4999 |
4,999 |
Fabindia SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Fabindia SBI Card SELECT |
1499 |
1,499 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
Central SBI Select Card |
750 |
750 |
Central SBI Select+ Card |
2999 |
2999 |
FBB SBI Styleup Card |
499 |
499 |
IRCTC SBI Platinum Card |
500 |
300 |
IRCTC SBI card |
500 |
300 |
IRCTC SBI Card Premier |
1499 |
1499 (Waived off on annual spends of 2 Lakh or more in the preceding year) |
Lifestyle Home Centre SBI Card , MAX SBI Card , SPAR SBI Card |
499 |
499 |
Lifestyle Home Centre SBI Card PRIME, MAX SBI Card PRIME, SPAR SBI Card PRIME |
2999 |
2,999 |
Lifestyle Home Centre SBI Card SELECT, MAX SBI Card SELECT, SPAR SBI Card SELECT |
1499 |
1,499 |
OLA Money SBI Card |
Nil |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Paytm SBI Card |
499 |
499 |
Paytm SBI Card SELECT |
1,499 |
1,499(Waived off on annual spends of 2 Lakh or more in the preceding year) |
Reliance SBI Card PRIME |
2,999 |
2,999 (Waived off on annual spends of Rs. 3 Lakh or more in the preceding year.) |
Reliance SBI Card |
499 |
499 (Waived off on annual spends of Rs. 1 Lakh or more in the preceding year.) |
TATA Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
TATA Card SELECT |
2999 |
2,999 |
TATA Croma card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
TATA Croma Card SELECT |
2999 |
2,999 |
TATA Star Card SELECT |
2999 |
2,999 |
TATA Star card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Yatra- SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Central Bank of India SBI Card PRIME |
2999 |
2999 (Waived off on annual spends of 3 Lakh or more in the preceding year) |
Central Bank of India SBI Card ELITE |
4999 |
4,999 (Waived off on annualspends of 10 Lakh or more in the preceding year) |
Central Bank of India SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
City Union Bank SBI Card PRIME |
2999 |
2999 (Waived off on annual spends of 3 Lakh or more in the preceding year) |
City Union Bank SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
Karnataka Bank SBI Card PRIME |
2999 |
2999 (Waived off on annual spends of 3 Lakh or more in the preceding year) |
Karnataka Bank SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
PSB SBI Card PRIME |
2999 |
2999 (Waived off on annual spends of 3 Lakh or more in the preceding year) |
PSB SBI Card ELITE |
4999 |
4999 (Waived off on annual spends of 10 Lakhor more in the preceding year) |
PSB SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
UCO Bank SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
UCO Bank SBI Card PRIME |
2999 |
2,999 (Waived off on annual spends of 3 Lakh or more in the preceding year) |
UCO Bank SBI Card ELITE |
4999 |
4,999 (Waived off on annual spends of 10 Lakhor more in the preceding year) |
South Indian Bank SBI Platinum Credit Card |
2,999 |
2,999 |
South Indian Bank SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 lakh or more in the preceding year) |
KVB SBI Signature Card |
4,999 |
4,999 |
Karur Vysya Bank SBI Platinum Credit Card |
2,999 |
2,999 |
Karur Vysya Bank - SBI Card |
499 |
499 (Waived off on annual spends of 1 Lakh or more in the preceding year) |
KrisFlyer SBI Card |
2,999 |
2,999 |
KrisFlyer SBI Card Apex |
9,999 |
9,999 |
SBI Card MILES ELITE |
4,999 |
4,999 (Waived off on annual spends of Rs.15 Lakh or more in the preceding year) |
SBI Card MILES PRIME |
2,999 |
2,999 (Waived off on annual spends of Rs.10 Lakh or more in the preceding year) |
SBI Card MILES |
1,499 |
1,499 (Waived off on annual spends of Rs.6 Lakh or more in the preceding year) |
SimplySAVE Merchant SBI Card |
NIL |
NIL |
SimplySAVE UPI SBI Card |
499 |
499 (Waived off on annual spends of Rs.1 Lakh or more in the preceding year) |
SBI Card PRIME NRI Secured |
1,500 |
1,500 |
South Indian Bank SBI Card PRIME |
2,999 |
2,999 (Waived off on annual spends of 3 lakh or more in the preceding year) |
KVB SBI Card ELITE |
4,999 |
4,999 (Waived off on annual spends of 10 lakh or more in the preceding year) |
KVB SBI Card PRIME |
2,999 |
2,999 (Waived off on annual spends of 3 lakh or more in the preceding year) |
KVB SimplySAVE SBI Card |
499 |
499 (Waived off on annual spends of 1 lakh or more in the preceding year) |
Titan SBI Card |
2,999 |
2,999 (Waived off on annual spends of 3 lakh or more in the preceding year) |
B. Cash Advance Fees
The Cardholder can use the Card to access cash in an emergency from domestic/international ATMs. A transaction fee would be levied on all such withdrawals and would be billed to the Cardholder in the next statement. A transaction fee of 2.5% or Rs. 500 whichever is higher at domestic ATMs and 2.5% or Rs. 500, 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 finance charge equal to charges on revolving credit (please refer schedule of charges) from the date of withdrawal until the date of full payment.
C. Cash Payment fee
The Cardholders can pay SBI credit card dues at select branches of State Bank of India (SBI) by mentioning their credit card number & amount in pay-in slip and depositing the same at the branch counter. An instant payment acknowledgement receipt will be provided to the cardholder. This facility is available at a service fee of Rs. 250 + applicable taxes. KVB SBI Cardholders can also pay their credit card dues at select branches of Karur Vysya Bank (KVB). No fee is applicable for payment made at Karur Vysya Bank (KVB) branches.
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 credit period
The Interest free credit period could range from 20 to 50 days, subject to submission of claims by the merchant. However, ‘Interest free credit period’ is suspended if any balance of the previous month’s bill is outstanding. For cash advances, interest is charged from the date of transaction until the date of payment.
F. Finance Charges
Finance Charges are payable at the monthly interest rate on all transactions including unpaid EMI installments 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 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.
The current rate of finance charges is upto 3.75% per month [45% per annum] from the transaction date and is subject to change at the discretion of SBI Cards & Payment Services Limited (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. The minimum amount of Finance Charge levied on all transactions in the event of the Cardholder choosing not to pay his balance in full within payment due date, and on all cash advances taken by the Cardholder will be Rs 25 each, exclusive of applicable taxes.
a. Finance charges on cash advances are applicable from the date of transaction until the payment is made in full.
Example 1 - Card Statement date – 15th of every month.
Transaction done between 16th June’19 – 15th July’19
1. Retail Purchase of Rs. 5000 – On 20th June’19
2. Cash Withdrawal of Rs. 7000 – On 10th July’19
Assuming No Previous Balance carried forward from the 15th June 2019 statement, the cardholder will get his 15th July statement showing Rs.12,000 of transactions along with 5 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 5th August 2019, i.e., 20 days from the Statement Date, for anything between the entire amount or Minimum Amount Due.Please note that any payment made against your credit card outstanding will first be cleared against GST, EMI amount, Fees/Charges, Finance charges, Retail Spends and Cash Advance in that order. 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. 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.
Transaction done between 3rd Jan’19 – 2nd Feb’19
1. Retail Purchase of Rs. 10000 – On 5th Jan’19
2. Online Purchase of Rs. 30000 – On 15th Jan’19
Assuming no previous balance carried forward from the 2nd Jan 2019 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 2019, i.e. 20 days from the Statement Date, for anything between the entire amount or the Minimum Amount Due. 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.
Making only the minimum payment every month would result in the repayment stretching over the years with consequent interest payment on your outstanding balance. For e.g. on a transaction of Rs. 5,000 if Minimum Amount Due is paid every month (subject to a minimum amount of Rs. 200 every month), it will take up to 44 months for entire outstanding amount to be paid in full.
Example 3 – Card Statement date – 2nd of every month.
Transaction done between 3rd March ‘19 – 2nd April ‘19
(1) Annual fee of Rs. 500 – On 5th March ‘19
(2) Applicable taxes of Rs. 90 – On 5th March ‘19
(3) Online Purchase of Rs. 6000 – On 15th March ‘19
Assuming no previous balance carried forward from the 2nd March 2019 statement, the cardholder will get his 2nd April statement showing Rs. 6,590 transactions. The cardholder needs to make payment against the outstanding by 22nd April 2019, i.e. 20 days from the Statement Date, for anything between the entire amount or Minimum Amount Due. Assuming the cardholder makes the payment of Minimum Amount Due of Rs.890, (5% of 6000 (retail spends)) + 90 (total GST) + 500 (100% of fee/charges) on 22ndApril 2019, rounded off to nearest decimal point, finance charges would be levied at the effective rate and added to the total outstanding.Since the Minimum Amount Due has been paid, yet a balance of the previous month’s bill is outstanding, thus the ‘interest free credit period’ has been suspended. Considering the effective rate of 3.75% p.m., finance charge calculation will be done as follows:
On the balance of Rs. 6000 (15th March to 22nd April) for 38 days: (3.75*12)*(38/365)*6000/100= Rs. 281.10
On the balance of Rs. 5700 (22nd April to 2nd May) for 11 days: (3.75*12)*(11/365)*5700/100= Rs. 77.30
Total Interest charged = Rs. 358.40
Sum of Outstanding purchase amount, Interest charges, Fees and Charges, if any, and applicable taxes would reflect as the Total amount due in the statement dated 2nd May assuming the card holder does not make any transactions between 3rd April ‘19 – 2nd May ‘19. If the cardholder keeps making the Minimum Amount Due payment every month he would clear the outstanding in 20 months (100%/ 5% = 20).
If 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 retail spends, cash advance (if any) and finance charge (if any) till the payment date.
Example 4: Card Statement date – 2nd of every month.
Transactions done between 3rd Dec’18 – 2nd Jan’19
1) Retail Purchase of Rs. 500 – On 15th Dec’18
2) Online Purchase of Rs.600 – On 20th Dec’18
Assuming no previous balance carried forward from the 2nd December 2018 statement, the cardholder will get his 2nd Jan statement showing Rs. 1100 transactions and Total amount due of Rs. 1100. The cardholder needs to make payment against the outstanding by 22nd Jan 2019, i.e. 20 days from the Statement Date, for anything between the entire amount or Minimum Amount Due.
Assuming the cardholder makes partial payment of Rs. 500, on 22nd Jan 2019, finance charges would be levied at the effective rate and added to the total outstanding. Considering the effective rate of 3.75% p.m., finance charge calculation will be done as follows:
On the balance of Rs. 500 (15th Dec to 22ndJan) for 38 days: (3.75*12) * (38/365) *500/100 = Rs. 23.42
On the balance of Rs. 600 (20th Dec to 22nd Jan) for 33 days: (3.75*12) * (33/365) *600/100 = Rs. 24.41
On the balance of Rs 600(22nd Jan to 2nd Feb) for 12 days: (3.75*12) * (12/365) *600/100 = Rs. 8.88
Total Interest Charged = Rs. 56.71
Transactions done between 3rd Feb’19 – 2nd Mar’19
1) Beginning balance of Rs. 656.71 – On 3rd Feb’19
2) Retail Purchase of Rs. 1000 – On 5th Feb’19
3) Online Purchase of Rs. 3000 – On 15th Feb’19
Assuming previous balance of Rs. 656.71 carried forward from the 2nd Feb 2019 statement, the cardholder needs to make payment against the outstanding by 22nd Feb 2019, i.e. 20 days from the Statement Date, for anything between the entire amount or Minimum Amount Due.
Assuming Cardholder makes complete payment by 15th Feb i.e. within Payment due date. Considering the effective rate of 3.75% p.m., finance charge calculation will be done as follows:
On the Balance of Rs. 656.71 (3rd Feb – 15th Feb) for 12 days:
(3.75*12) *(12/365) * 656.71/100 = Rs. 9.72
Total Interest Charged = Rs. 9.72
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. Minimum Amount Due Definition:
Minimum Amount Due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance charge (if any)+Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)
W.e.f 15th March 2024, In case 5% of (finance charge + retail spends and cash advance ) is less than finance charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of finance charges +Overlimit Amount (if any)
Example: Card Statement Date - 2nd of every month
Billing Statement period - 3rd Jan 2024 - 2nd Feb 2024
Total Retail Purchase balance - Rs.1,34,999.60
Finance Charge - Rs.11,972.18
Fee & Charges in the statement - Rs.2,700.00
Total GST in the statement - Rs.2,640.99
Assuming cardholder doesn’t make any spend transaction during the statement period, Minimum Amount Due (MAD) will be calculated as given below:
5% of (Finance Charge + Retail Spends + Cash Advance), i.e. 5% of (11,972.18 + 1,34,999.60 + 0) = Rs. 7,348.58
Since 5% of (Finance Charge + Retail Spends + Cash Advance) i.e. Rs 7,348.58 is less than Finance Charge of Rs.11,972.18, Minimum Amount Due will be calculated as Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any)
So, Minimum Amount Due (MAD) shall be, Total GST (Rs.2,640.99) + EMI amount (Rs.0) + 100% of Fees/Charges (Rs.2,700) + 100% of Finance Charges (Rs.11,972.18) + Overlimit Amount (Rs.0) = Rs.17,313.17
H. Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date.
Example 1 -
Card Statement date – 2nd of every month. Transaction done between 3rd Jan’16 – 2nd Feb’16
(1) Retail Purchase of Rs. 5000 – On 5th Jan’16
(2) Online Purchase of Rs. 5000 – 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. 10,000 transactions. The cardholder needs to make payment against the outstanding by 22nd Feb 2016, i.e. 20 days from the Statement Date, for anything between the entire amount or Minimum Amount Due. If the cardholder does not make the payment of the Minimum Amount Due or more by 22nd Feb 2016, he would be charged a Late Payment Charge of Rs. 750 (Rs. 750 for greater than Rs.1000 & up to Rs. 10,000).
Example 2 -
Card Statement date – 2nd of every month. Transaction done between 3rd Feb’16 – 2nd Mar’16
1. Retail Purchase of Rs. 2000 – On 8th Feb’16
2. Online Purchase of Rs. 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, for anything between the entire amount or the Minimum Amount Due. If the cardholder does not make any payment by 22nd March 2016, he would be charged a Late Payment Charge of Rs. 750 (Rs. 750 for greater than Rs.1000 & up to Rs. 10,000)
Example 3- Card Statement date – 2nd of every month.
Transaction done between 3rd Sep – 2nd Oct
(1) Retail Purchase of Rs. 9400 – On 5th Sep
Assuming no previous balance carry forward from the 2nd Sep statement, the card holder will get 2nd Oct statement showing Rs. 9400 as total amount due. The cardholder needs to make payment against the outstanding by 22nd Oct, i.e. 20 days from the Statement Date, for any amount between the entire amount or Minimum Amount Due. The cardholder makes complete payment of Rs. 9400 against the outstanding on or before 22nd Oct.
Transaction done between 3rd Oct – 2nd Nov
The card holder will get 2nd Nov statement showing Rs. 10,000 as total amount due. The customer receives a refund of Rs. 9400 for the transaction done in previous cycle from the merchant on 10th Nov. This refund amount will be adjusted against the total amount due. The cardholder needs to make payment against the outstanding on or before 22nd Nov, i.e. 20 days from the Statement Date, for any amount between the outstanding amount or Minimum Amount Due. Since credit amount arising out of refund is greater than Minimum Amount Due, the cardholder will not be charged with Late Payment Charge.
Example 4- Card Statement date – 2nd of every month.
Transaction done between 3rd Jan – 2nd Feb
The card holder will get 2nd Feb statement showing Rs. 10,500 as total amount due. The customer receives a refund of Rs. 500 for Payment Dishonor Fee that was charged in the previous cycle on 10th Feb. The cardholder needs to make payment against the outstanding by 22nd Feb, i.e. 20 days from the Statement Date, for any amount between the entire amount or Minimum Amount Due. Credit amount arising out of reversal initiated by SBI Card will not be adjusted against the payment due. If the cardholder does not make the payment of the Minimum Amount Due or more on or before 22nd Feb he would be charged a Late Payment Charge of Rs. 950 (Rs. 950 for greater than Rs.10,000 & up to Rs. 25,000).
I. Over Limit Fees
As a service gesture, SBI Card may approve Overlimit transactions subject to internal policy, eligibility with respect to transaction, customer profile and customer consent. If the outstanding amount exceeds the credit limit, an Overlimit Fee equal to 2.5% of the overlimit amount that exceeds the credit limit or Rs.600, whichever is higher, will be levied. Overlimit Fee will be levied only once per billing cycle. Please note that consent given by Cardholder to enable Overlimit facility on his/her credit card will automatically enable the facility on all credit cards held by the cardholder under the same account. Overlimit Fee will not be reversed in case of transaction reversal / cancellation / refund.
J. Payment Dishonor
In case of a Payment Dishonor, cardholder will be charged payment dishonor fee of 2% of Payment Amount subject to minimum charges of Rs. 500
K. Utility Payment Fee:
If the sum of all Utility Payments in a billing cycle exceeds Rs. 50,000, then a Utility Payments Fee of 1% will be charged on the total amount of Utility payments made in that billing cycle. This fee will be calculated on the last day of the billing cycle and will appear in next month’s statement. All calculations will be made based on the effective date of the transaction. Utility payments shall be identified under the Merchant Category Code (MCC) 4900, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.
Illustration:
Card Statement date – 1st of every month.
Transaction done between 2nd Oct’24 – 01st Nov’24
Assuming no previous balance carried forward from the 1st Oct’24 statement, the cardholder will get 1st Nov’24 statement showing billed amount as Rs. 64,000. The Utility Payment Fee will be calculated as Rs 1% of Rs 64,000 (Sum total of Utility payments), that is Rs. 640, on statement date and posted on 2nd Nov’24 and will be levied in the next statement. Thus, the cardholder will get his 1st Dec’24 statement showing Rs. 640 plus applicable taxes billed as Utility fee for the month of October 2024 with an effective date of 01st Nov’24.
L. Other charges:
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.
Dynamic & Static Currency Conversion Markup Fee: 3.50% (For All Cards Except Elite & Aurum) 1.99%(For Elite & Aurum Cardholders Only) (Only for transactions greater than or equal to Rs. 1000)
All transaction carried out in Indian Currency at an international location or at merchants which are located in India but registered overseas (Dynamic & Static Currency Conversion Markup Fee will not be reversed in case of transaction refunds)
Balance Transfer:
Balance Transfer Offer allows the customer to transfer other Bank credit cards' outstanding to SBI Credit Card.
Balance Transfer |
Tenure |
Rate of Interest |
Important Points |
60 days |
0% |
On all subsequent purchases, whether made in retail and/or cash and other outstanding balances, the applicable finance charge of up to 3.75% p.m. (45% p.a.) for Unsecured card, 2.75% p.m. (33% p.a.) for Secured card and 2.75% p.m. (33% p.a.) for Shaurya card shall be levied, and all such levying of applicable finance charge be made applicable from the date of purchase itself and shall accordingly cover all card holders who may have BT amount in their card account. Furthermore, it is clarified that for and up to 50 days, interest free period is not valid on any retail purchases or otherwise for those cardholders who may have a BT amount in their account. A onetime Processing Fee is charged over and above the ROI |
|
180 days |
1.7% p.m. (20.40% p.a.) |
Credit Limit and Cash Limit are assigned to Cardholders based on internal SBICPSL credit criteria (Add-On cardholders share the same limits as that of the Primary Account Holder). These limits are communicated to the cardholder at the time of card delivery. The Credit Limit and Cash Limits 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 it’s sole discretion and based on such new documents provided, may increase the Credit Limit of the Cardholder.
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) Credit Cards offer the Cardholder a revolving credit facility. The Cardholder may choose to pay only the Minimum Amount Due printed on the statement and such payment should be sent before the Payment Due Date, which is also printed on your statement. The balance outstanding can be carried forward to subsequent statements. The Cardholder can also choose to pay the Total Amount Due or any part of the amount above the Minimum Amount Due. Any unpaid Minimum Amount Due of the previous statements will be added to the Cardholders Current Minimum Amount due in addition to the outstanding exceeding the Cardholders Credit Limit. Minimum Amount due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)
W.e.f. 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any)
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 Credit 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 GST, EMI amount, Fees/Charges, Finance charges, Retail Spends and Cash Advance in that order.
Card Holder would be responsible for providing correct and timely information forenabling Credit Card Issuer to undertake appropriate GST compliances which would in turn enable card holder to take input tax credit of supplies made by the Credit 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 card holder.
e) Payments towards the Card account may be made in any of the following ways:
By logging onto sbicard.com and using Payment option to make payment through netbanking or your SBI ATM cum debit card.
By mailing a Cheque or draft to the mailing address provided on the reverse of the monthly 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.
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 the Cardholder informs SBI Cards and Payment Services Limited of any discrepancies within the following timelines from the transaction date and these discrepancies are found to be true by SBI Cards and Payment Services Limited:
On receipt of information from Cardholder regarding any discrepancies, SBI Cards and Payment Services Limited may reverse the charge on temporary basis. If on completion of subsequent investigations, it is found that the liability of such charge lies with the Cardholder account, the charge will be reinstated in a subsequent statement.
h) Customer Grievance Redressal: All grievance escalations should be marked to the Nodal Officer, at PO Bag 28 - GPO, New Delhi - 110001 or e-mail at Nodalofficer@sbicard.com
i) Contact Particulars: Dial 39 02 02 02 (prefix local STD code) or 1860 180 1290
For SBI Railway Credit Card - Contact SBI Railway Credit Card Helpline from anywhere in India
From All Phones : 39 02 12 12 ( Prefix STD code of your city while calling from mobile)
From BSNL/MTNL : 1860 180 1290
For SBI Railway Credit Card: Contact SBI Railway Credit Card Helpline from anywhere in India
From All Phones : 39 02 12 12 ( Prefix STD code of your city while calling from mobile)
From BSNL/MTNL : 1800 180 1295
Correspondence: Through mail, by writing to The Manager - Customer Services, SBI Cards & Payment Services Ltd., DLF Infinity Towers, Tower C, 12th Floor, Block 2, Building 3, DLF Cyber City Gurugram-122002 (Haryana) India www.sbicard.com or at PO Bag 28 - GPO, New Delhi - 110001
Through email by writing in at customercare@sbicard.com
j) Reversals initiated by SBI Card, including reversal of Fees and Charges, will not be adjusted against the payment due and will be treated as credit for the current billing cycle.
Any credit amount arising out of refund/failed/reversed transactions with an effective date of such transactions pertaining to previous billing cycle will be considered as payment if the amount is credited before the Payment Due Date of the previous billing cycle.
Any credit amount arising out of refund/failed/reversed transactions with an effective date of such transactions pertaining to the current billing cycle, will not be considered as payment even if the amount is credited before the Payment Due Date of the previous billing cycle.
K)SMA & NPA
(A) Special Mention Accounts (‘SMA’):
SMA Sub-categories |
Basis for classification [Principal or interest payment or any other amount wholly or partly overdue] |
SMA – 0 |
Upto 30 days from Payment Due Date (‘PDD’). |
SMA – 1 |
More than 30 days & upto 60 days from PDD |
SMA – 2 |
More than 60 days & upto 90 days from PDD |
Example regarding classification of SMA:
(B) Non-Performing Asset (NPA):
Example regarding classification of an account as NPA:
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 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.
Before reporting default status of a credit card holder 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 card holder.
It may further be noted, that if a card holder, 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 customer’s credit report.
Terms and Conditions Governing Credit Card facilities shall be applicable to the Supplementary /Add on Cardholder as well.
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.
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.
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. In case a Cardholder having negative Rewards Point Balance at the time of voluntary closure, then the equivalent value of such negative reward points will be automatically converted to statement debit and is required to be paid by the Cardholder along with any other dues. 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. Example – Negative Reward Point Balance at the time of voluntary closure : -1000 Upon voluntary closure, -1000 negative Reward Point balance will be automatically converted to statement debit of Rs 250 i.e. 1000 Negative Reward Points X Rs 0.25 per Reward Point (this conversion value may vary for different card variants). This amount will be charged to the Cardholder account and is required to be paid by the Cardholder along with any other dues.
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.
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.
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. 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 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, or the consent of an Additional Cardholder.
c)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.
d) 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.
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 including mobile number, 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 including mobile number updated in our records.
g) “SBI Card offers complimentary lost/stolen card insurance cover on certain cards. The said insurance is provided by ICICI Lombard General Insurance Company Limited or any other insurance Company as may be decided by SBI Card from time to time. ICICI Lombard General Insurance Company Limited is responsible for any claim settlement in this regard and SBI Card shall not be responsible for any dispute arising due to claim settlement. For further details on Insurance terms & conditions, Cardholders are advised to go through the brochure in the welcome kit or refer the www.sbicard.com.”
The Credit Information Company 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 acknowledges that SBICPSL is authorized to share cardholder information to a Credit Information Company (that has obtained Certificate of Registration from RBI).
SBICPSL shall provide information relating to repayment record of the cardholder to a Credit Information Company within a period of 45 – 60 days.
In the event of a dispute, SBICPSL will make suitable amends to the reporting procedure before reporting the card holder as defaulter. However it may also be noted that such disclosure/release of information would be contingent on time available to investigate and settle such disputes raised.
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
Payments received against the Cardholder’s card outstanding will be adjusted against GST, EMI amount, Fees/Charges, Finance charges, Retail Spends and Cash Advance in that order.
**All transactions towards payment of rent through any merchant will be levied Rs.199+Applicable Taxes as processing fee. All the transactions identified under Merchant Category Code (MCC) 6513 will be considered as rent payment transactions.
*** Utility payments shall be identified under Merchant Category Code (MCC) 4900, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.
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 information in this communication is correct as per 01st, November 2024 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 Cards and Payment Services Limited
Unit 401 & 402, 04th Floor, Aggarwal Millennium Tower,
E-1,2,3 Netaji Subhash Place,
Wazirpur, New Delhi 110034
CIN:U65999DL1998PTC093849
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Learn More"SBI Cards and Payment Services Limited” was formerly known as “SBI Cards and Payment Services Private Limited"
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