Terms & Conditions
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|Tenor||Easy Monthly Installment||Principal||Interest||Principal outstanding||# Applicable Taxes|
|Rate Of Interest (p.m.)||0.75% *|
"Applicable Taxes" means:
The cost of funds and other operational costs for the business also determine the rate of interest. Under this program the interest rate ranges from 11% - 22% p.a. The interest rate range may vary from the mentioned range and will be at sole discretion of SBI Card.
Changes in factors mentioned above may result in upward or downward revision of the interest applicable on the Flexipay facility from time to time / from offer to offer at the sole discretion of SBI Cards. All fees / charges applicable to the facility may or may not be dynamic and are subject to modifications based on SBI Cards periodic internal review.
|Sr.No.||Billing date||Installment (Rs.)||Interest (Rs.)||Principal (Rs.)||Balance (Rs.)||Applicable Taxes #|
"Applicable Taxes" means:
|Sr.No.||Billing date||Installment (Rs.)||Interest (Rs.)||Principal (Rs.)||Balance (Rs.)||Applicable Taxes #|
The SBI Card Shop & Smile Rewards Program allows eligible SBI to accumulate points from spending on their SBI credit card as determined by SBI Card from time to time. Points accumulated on SBI credit card can be used in the manner as explained below.
POINTS EARNED/ACCUMULATED UNDER THE PROGRAM :
SBI Prime/Platinum & Elite/Signature Cardholders will earn 2 Reward Points for every Rs. 100 spent and earn 10 Reward Points for every Rs. 100 spent on Dining, Groceries, Departmental Store & Movies (Prime/Platinum). Gold & More / SimplySAVE SBI Cardholders will earn 1 Reward Point for every Rs. 100 spent and earn 10 Reward Points for every Rs. 100 spent on Departmental Store, Grocery spends, Dining (SimplySAVE) & Movies (SimplySAVE).
SimplyCLICK SBI Cardholders will earn 1 Reward Point for every Rs. 100 spends 5 Reward Points for every Rs. 100 spent on online spends 10 Reward Points for every Rs. 100 spent for online spends with exclusive partners.
This Rewards Program is not applicable on SBI Railway Card, SBI Spice Jet Card and SBI Go Air Card.
Under the Rewards Program, following charges/ transactions / activities are not eligible for accruing Points:
The reward points awarded for the following transactions /activities, will be reversed:
All identification of eligible & non-eligible transactions regarding Rewards by SBICPSL are on a best effort basis & may be subject to technical glitches.
SBICPSL will mail the primary cardholder in the monthly statement of account in respect of the SBI card of the number of points accumulated immediately preceding the closing date for the said monthly statement.
The points do not constitute property of the cardholder and are not transferable by operation of law or otherwise to any person or entity.
Points can only be accumulated for a period of 24 months from the date of the accrual of reward point under the rewards program. Any points not used by the end of the stipulated 24 months shall lapse and be forfeited.
In the event the SBI Card is voluntarily closed by the cardholder, the points accumulated on his/her SBI card account can be redeemed within 30 days of closure, otherwise these will automatically lapse. In the event of cancellation of the SBI Card for any other reason, all the points accumulated will stand forfeited, but may be reinstated at the discretion of SBICPSL if the use of SBI Card is reinstated.
Air India SBI Signature & Platinum Credit Card – Redemption of Reward Points against Air India Air Miles must be redeemed before voluntary closure of the Credit Card. Air Miles redemption can be fulfilled only on active Credit Cards.
REWARD ACCRUAL CAPPING POLICY:
With effect from August 1, 2018, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:
SimplySAVE SBI CARD: Maximum Cap of 5,000 Reward Point/Month - Cumulative 10X Reward Points accrued on Dining, Movies, Departmental Store & Grocery spends for your SimplySAVE SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.
SBI CARD PRIME: Maximum Cap of 7,500 Reward Points/Month - Cumulative 10X Reward Points accrued per Rs. 100 spent on Dining, Movies, Departmental Store & Groceries for your SBI Card Prime will have a maximum cap of 7,500 Reward Points per month. After the cap limit of 7,500 Reward points is achieved,2 Reward Points for every Rs. 100 spent , as per the card policy, will continue to accrue.
SBI CARD ELITE: Maximum Cap of 10,000 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining, Departmental Store & Grocery spends for your SBI Card Elite will have a maximum cap of 10,000 Reward Points per month. After the cap limit of 10,000 Reward points is achieved, 2 Reward Points for every Rs. 100 spent, as per the card policy, will continue to accrue.
GOLD & MORE SBI CARD: Maximum Cap of 5,000 Reward Point/Month - Cumulative 10X Reward Points accrued on Departmental Store & Grocery spends for your Gold & More SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.
PLATINUM SBI CARD: Maximum Cap of 7,500 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining & Departmental Store spends for your Platinum SBI Card will have a maximum cap of 7,500 Reward Points per month. After the cap limit of 7500 Reward points is achieved, 2 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.
SIGNATURE SBI CARD: Maximum Cap of 10,000 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining, Departmental Store, Grocery & International spends for your Signature SBI Card will have a maximum cap of 10,000 Reward Points per month. After the cap limit of 10,000 Reward points is achieved, 2 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.
The above capping is also applicable on respective variants of Banking Cobrand cards.
With effect from August 01, 2018, the REWARD ACCRUAL CAPPING POLICY shall supersede any communication made by or on behalf of SBI CARD in relation to the Rewards Policy which is in conflict to the aforesaid, including but not limited to communication through any product brochure, websites, sales kit, SMS, email, digital kiosk or by telephone.
SBICPSL decision on the computation of points will be final, conclusive and binding on the cardholder.
A fee of Rs. 99 plus Applicable Taxes will be debited to the cardholders account per redemption request towards delivery and processing charges in case of gift redemption. The same will be charged to the Cardholder in his/her monthly statement. On redemption, the points would automatically be subtracted from points accumulated in the cardholder's account. The cardholder may choose any of the following methods for Redemption:
The SBI Card must not be overdue, suspended, blocked, canceled or terminated by SBICPSL at the time of redemption request.
The points accrued can only be redeemed by the Primary Cardholder and not by an Additional Cardholder.
Points accumulated by a cardholder on an SBI card cannot be combined or used in conjunction with points of his/her other SBI cards at the time of redemption or transferred to any other customer loyalty program unless otherwise notified by SBICPSL.
The Reward Points may be redeemed as following rewards:
In case of redemption as statement credit, Reward Points can only be redeemed in the multiple of 2,000 points unless or otherwise stated.
The points cannot be exchanged for cash or other form of credit other than statement credit.
Gift certificate/voucher/gift shall be delivered to cardholder within 15 Calendar days on a best-effort basis after receiving the redemption request from the Cardholder.
Redeemed Rewards are not exchangeable for other rewards or refundable. Once exchanged for any partner loyalty program, points cannot be transferred back. All Rewards are subject to availability and certain restrictions may apply. The redemption procedure and additional terms and conditions for each item are set forth in the redemption certificates/vouchers issued to the cardholder.
Other SBI Benefits which are activated by use of the SBI card do not apply to goods or services received as rewards under the program.
DELIVERY OF GIFTS:
SBICPSL reserves the right not to accept returns or change of correct and functional goods/services after a complete delivery has been made to the correct mailing address and accepted by the Cardholder. Any additional meals, transportation, accommodation arrangements, couriers or other costs incurred in connection with redemption of any reward will be the sole responsibility of the cardholder. Quality of goods/services is the sole responsibility of suppliers / manufacturers in accordance with their warranty and services terms and conditions if any .
The fulfillment agency will make such delivery within 15 Calendar days of receipt by SBICPSL of the redemption request on a best-effort basis. In case of goods shortage or upon expiration of the rewards catalogue, the delivery may be subjected to certain delay. All delivery disputes will be entertained within 30 days from the date the request has been made for the redemption.
SBICPSL is not liable for any delay or loss or damage of goods in delivery of redeemed Gifts.
The fulfillment agency will try to deliver your redeemed item/s as early as possible but in view of the COVID 19 pandemic outbreak , delivery may be delayed or impacted. Inconvenience is deeply regretted.
In case the gift received is damaged/incorrect/incomplete, the Cardholder shall get in touch with SBI Card Customer care at 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code) or 1800 180 1290 or click here to email us within 02 days of receipt of the same. In case the Cardholder fails to inform the issues within the given period of 2 days, then SBICPSL shall have the right to reject to entertain such grievances from the Cardholder.
E-GIFT VOUCHER USAGE:
Any additional costs incurred in connection with usage of e-Gift vouchers will be the sole responsibility of the cardholder.
Kindly note that Gift vouchers should be utilized within expiry dates mentioned on the voucher. Gift Vouchers will not be revalidated.
Issuance of e-gift voucher for dining, travel or hotel accommodation does not constitute a reservation. The Cardholder is responsible for making all reservations and notifying participating merchant establishments of the reward(s) he/she is going to redeem.
In case the e-gift voucher received is damaged/incorrect/incomplete, the cardholder to get in touch with SBI Card Customer care at 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code) or 1800 180 1290 or click here to email us within 02 days of receipt of the same. In case the Cardholder fails to inform the issues within the given period of 2 days, then SBICPSL shall have the right to reject to entertain such grievances from the Cardholder.
The Elite Book of Rewards Program allows SBI Card Elite/Signature cardholders to redeem points for exciting Gifts or Gifts Vouchers.
Fraud and abuse relating to earning and redemption of points in the program will result in the forfeiture of the points as well as termination of the SBI credit card account. SBICPSL or its merchant establishments for administrative and/or marketing purposes may use information supplied by a Cardholder on the redemption of rewards.
In case any reward points have been wrongfully availed or erroneously awarded and if the same have been redeemed against statement outstanding by Cardholder, then it can be adjusted back as statement debit on the card account.
The reward points that are accrued on your Card account shall be immediately forfeited on the occurrence of any of the following events:
In the event that the Cardholder does not initiate any transaction on his card for a period of 13 consecutive months, the reward point balance shall be forfeited at the end of the 13th month.
In the event that the Cardholder misses two consecutive payments, the rewards points that were accrued during the first cycle for which payment was not made will be forfeited.
In the event of a voluntary closure of the Card account by the Cardholder, the unutilized reward point balance shall be forfeited after a period of 30 days from the date of closure of the Card Account.
Any taxes or other liabilities or charges payable to the government or any other authority or any participating merchant establishment which may arise or accrue to a cardholder by redemption as aforesaid or otherwise as a result of the program shall be to the sole account of the cardholder.
SBICPSL reserves the right to cancel, change or substitute the rewards or the rewards conditions or the computations of points or terms and conditions of the program anytime. SBICPSL can suspend or terminate the program any time it deems necessary. In such a case SBICPSL will intimate the cardholder and give them an option to redeem the accumulated points.
Gifts/e-Gift Vouchers once redeemed by the cardholder, shall not be cancelled .
In the event of no availability of a Product, SBICPSL shall have right to send an alternate model offered by the brand which shall be of same or more value.
SBICPSL makes no warranties or representations either expressed or implied with regard to the type, quality or fitness of the goods and services provide by the participating merchant establishment under the program.
The Program does not in any way amend the Cardholder agreement between SBICPSL and the cardholder and any term referenced but not defined herein may be interpreted in accordance with the cardholder agreement.
In case of any dispute, decision of SBICPSL shall be final and binding.
Any disputes arising out of with respect to this Program shall be subject to arbitration under the Indian Arbitration and Conciliation Act, 1996 including any statutory amendments carried thereof. Arbitration shall be conducted by a sole arbitrator appointed by SBICPSL for this purpose and the award of the arbitrator shall be final and binding on the cardholder and SBICPSL. The place of arbitration shall be at New Delhi and the language of arbitration shall be English.
The Program shall be governed by and construed under the laws of India and the parties to a dispute shall subject themselves to the jurisdiction of courts of Delhi.
SBICPSL acts in good faith in response to any oral or electronic instruction or enquiry by the Cardholder in respect of any matter in relation to this program and fulfillment of any reward. The cardholder will not be entitled to claim or allege any loss, damage, liability, expense etc. attributable directly or indirectly, to any such good faith action of SBICPSL. All queries to the program may be addressed to:
The MANAGER Customer Services
SBI Cards and Payment Services Limited
P.O. Bag No 28
•If Referred cardholder is given a Signature card then 2000 bonus point worth cash value of about Rs.500/-
•If Referred cardholder is given a Platinum card 1500 bonus point worth cash value of about Rs.375/-
•If Referred cardholder is given a Gold and More card 1000 bonus point worth cash value of about Rs.250/-
Please visit the www.sbicard.com for details of terms and condition for Reward points redemption.