Central Bank Of India SimplySAVE SBI Card – Benefits, Fees & Eligibility

Introduction

The SimplySAVE SBI Card, issued by Central Bank of India in partnership with SBI Card, is positioned as a value-savings credit card designed to help users maximize savings on everyday spending. Its key differentiating benefits include accelerated reward points on popular categories like dining, movies, departmental stores, and groceries, a valuable welcome bonus, and a waiver on fuel surcharges.

Welcome Benefits

• Bonus Reward Points: Get 2,000 Bonus Reward Points (worth Rs. 500) when you spend Rs. 2,000 or more within the first 60 days of card issuance.

Fees

• Joining Fee: Rs. 499 + applicable taxes (one-time).
• Renewal Fee: Rs. 499 + applicable taxes (per annum, from the second year onwards).
• Spend-Based Waiver: The renewal fee is reversed if annual spends for the previous year are Rs. 1,00,000 or more.
• Add-on Card Fee: Nil.
• Fuel Surcharge: Enjoy a 1% fuel surcharge waiver on every transaction between Rs. 500 and Rs. 3,000 at all petrol pumps across India. The maximum waiver is Rs. 100 per statement cycle, per credit card account.

Rewards

• Accelerated Rewards: Earn 10X Reward Points per Rs. 150 spent on dining, movies, departmental stores, and grocery purchases.
• Standard Rewards: Earn 1 Reward Point per Rs. 150 spent on all other categories.

Rewards Redemption Guide

• Bill Payment: You can pay your outstanding card bill using your accumulated reward points.
• Redemption Value: 4 Reward Points are equivalent to Re. 1.
• Rewards Catalogue: Browse through the Rewards Catalogue to choose from a variety of gifts and vouchers.

Card Review

The SimplySAVE SBI Card is an excellent choice for individuals looking to maximize savings on their routine expenses, particularly those who frequently spend on dining, movies, groceries, and departmental stores. The 10X reward points on these categories offer significant value, making it a strong contender in the entry-to-mid-range segment. The welcome bonus and the annual fee waiver based on spending further enhance its appeal. While it doesn't offer premium benefits like lounge access, its focus on everyday spending rewards, coupled with a fuel surcharge waiver, makes it a practical and rewarding card for the average consumer.

Important Product Details

• High Reward Rate: Earn 10X Reward Points on dining, movies, departmental stores, and grocery spends.
• Welcome Bonus: Receive 2,000 Bonus Reward Points on meeting a minimal spend target within the first 60 days.
• Fuel Surcharge Waiver: Benefit from a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000, up to Rs. 100 per month.
• Renewal Fee Waiver: The annual renewal fee can be waived by achieving annual spends of Rs. 1,00,000 or more.
• Contactless Payments: Enjoy the convenience and security of tap-and-pay transactions.
• Global Acceptance: Accepted at over 24 million outlets worldwide, including 3,25,000 in India, wherever Visa/MasterCard is accepted.
• Cash Access: Withdraw cash from over 1 million Visa or MasterCard ATMs globally.
• EMI Conversion: Convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs with Flexipay.
• Add-on Cards: Provide add-on cards for family members (parents, spouse, children, or siblings above 18 years).
• Utility Bill Payments: Utilize the Easy Bill Pay facility for electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Transfer outstanding balances from other banks' credit cards to your SimplySAVE SBI Card at a lower interest rate and repay in easy EMIs.

Other Details

• Contactless Advantage:
  • Tap & Pay with Ease for effortless everyday payments.
  • Fast & Convenient for small, everyday payments in seconds.
  • Secure Transactions as the card stays in your hand, reducing fraud risk. Visa PayWave's unique security key ensures only one transaction is processed even if tapped multiple times.
• Global Acceptance: The card is accepted at over 24 million outlets across the globe, including 3,25,000 outlets in India, wherever Visa / Master Card is accepted.
• Cash Access Across the World: You can withdraw cash from over 1 million Visa or MasterCard ATMs across the globe.
• Flexipay EMI: Convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs.
• Add-on Cards: Empower your family members (parents, spouse, children, or siblings above 18) with add-on cards.
• Utility Bill Payment Facility: Pay your electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
• Balance Transfer on EMI: Save money on credit card repayments by transferring outstanding balances of other banks’ credit cards to your SimplySAVE SBI Card at a lower interest rate and repay in easy EMIs.
• Application Process: To apply for the CBI SimplySAVE SBI Card, visit the nearest Central Bank of India Branch.
• Terms & Conditions: For detailed information regarding fees, charges, and other terms, refer to the Most Important Terms & Conditions and other official documents provided by SBI Card.