Central Bank of IndiaCentral Bank Of India SimplySave SBI Card – Benefits, Fees & Eligibility
Is the Central Bank Of India SimplySave SBI Card Right for You?
The Central Bank Of India SimplySave SBI Card is best suited for users who prioritize Dining, Movies, Shopping. With a joining fee of ₹499 + GST and a renewal fee of ₹499 + GST, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Reward Points as its primary reward mechanism, with a rewards rate of 10 Reward Points per Rs. 150 on dining, movies, departmental stores & groceries; 1 RP per Rs. 150 on others..
Key Card Details
₹499 + GST
₹499 + GST
Reward Points
Not Applicable
Notable Perks
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Insurance Coverage
Not Applicable
Spend-Based Waiver
Renewal Fee reversed if annual spends exceed Rs. 1,00,000 in the preceding year.
Movie Benefits
Earn 10 Reward Points for every Rs. 150 spent on movie purchases.
Golf Benefits
Not Applicable
Things to Consider
Standard reward rate of 1 point per Rs. 150 on other categories is quite low.
Maximum fuel surcharge waiver is capped at Rs. 100 per statement cycle.
Welcome benefits are limited to a modest 2,000 bonus reward points.
Benefits & Features
Welcome Offer
Spend Rs. 2,000 within 60 days to receive 2,000 bonus Reward Points.
Rewards Rate
10 Reward Points per Rs. 150 on dining, movies, departmental stores & groceries; 1 RP per Rs. 150 on others.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points to pay outstanding balance or against gifts from the Rewards Catalogue.
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Earn 10 Reward Points for every Rs. 150 spent on movie purchases.
Dining Benefits
Earn 10 Reward Points for every Rs. 150 spent on dining expenses.
Travel Benefits
Not Applicable
Fees & Charges
Joining Fee
₹499 + GST
Renewal Fee
₹499 + GST
Spend-Based Waiver
Renewal Fee reversed if annual spends exceed Rs. 1,00,000 in the preceding year.
Foreign Currency Markup
Not Applicable
Interest Rates
Not Applicable
Fuel Surcharge Waiver
1% waiver on fuel transactions (Rs. 500-3,000), max Rs. 100 per statement cycle.
Cash Advance Charges
Not Applicable
Rewards Redemption Fee
Not Applicable
Pros & Cons
Pros
Key benefits and features of this card.
Earn 10x reward points on essential categories like dining, movies, and groceries.
Enjoy a 1% fuel surcharge waiver for transactions, saving on daily fuel costs.
Annual fee can be easily waived by spending Rs. 1,00,000 annually.
Worldwide acceptance and contactless payment feature for secure transactions.
Offers flexible payment options like balance transfers and converting purchases to EMIs.
Cons
Key drawbacks and limitations of this card.
Standard reward rate of 1 point per Rs. 150 on other categories is quite low.
Maximum fuel surcharge waiver is capped at Rs. 100 per statement cycle.
Welcome benefits are limited to a modest 2,000 bonus reward points.
Lack of premium benefits like complimentary lounge access or golf privileges.
The value of reward points is relatively low when redeemed against outstanding balance.
Product Details
Contactless payments for quick, secure, and convenient daily transactions.
Accepted at over 24 million outlets globally and 3,25,000 in India.
Add-on cards available for family members (above 18) at no additional fee.
Access cash from over 1 million VISA/RuPay ATMs worldwide.
Easy Bill Pay facility for convenient payment of utility bills.
Convert purchases of Rs. 2,500+ into easy monthly installments (Flexipay).
Transfer outstanding balances from other cards to EMIs at lower interest (Balance Transfer).
Benefits & Features
Welcome Offer
Spend Rs. 2,000 within 60 days to receive 2,000 bonus Reward Points.
Rewards Rate
10 Reward Points per Rs. 150 on dining, movies, departmental stores & groceries; 1 RP per Rs. 150 on others.
Reward Type
Reward Points
Reward Redemption
Redeem Reward Points to pay outstanding balance or against gifts from the Rewards Catalogue.
Domestic Lounge Access
Not Applicable
International Lounge Access
Not Applicable
Premium Benefits
Not Applicable
Insurance Coverage
Not Applicable
Movie Benefits
Earn 10 Reward Points for every Rs. 150 spent on movie purchases.
Dining Benefits
Earn 10 Reward Points for every Rs. 150 spent on dining expenses.
Travel Benefits
Not Applicable
What matters, explained clearly
Central Bank Of India SimplySave SBI Card
Introduction
The Central Bank Of India SimplySave SBI Card is designed to provide unlimited privileges, primarily focusing on enhanced reward earnings for everyday spending categories like dining, movies, departmental stores, and groceries, along with benefits such as fuel surcharge waivers and annual fee reversals based on spend.
Welcome Benefits
- Spend Rs. 2,000 or more within the first 60 days of card issuance to receive 2,000 bonus Reward Points.
Fees
- Annual Fee (one-time): Rs. 499 + Taxes
- Renewal Fee (per annum): Rs. 499 + Taxes, applicable from the second year onwards.
- Spend-Based Waiver: The Renewal Fee is reversed if your annual spends for the previous year amount to Rs. 1,00,000 or more.
- Add-on Fee: Nil
- Fuel Surcharge: Get a 1% fuel surcharge waiver for transactions between Rs. 500 and Rs. 3,000 at any petrol pump in India. The maximum surcharge waiver is Rs. 100 per statement cycle.
- Other Fees and Charges: For comprehensive details, refer to the Most Important Terms & Conditions.
- All taxes would be charged as applicable on all fees, interest, and charges.
Rewards
- Accelerated Rewards: Earn 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Grocery purchases.
- Standard Rewards: Earn 1 Reward Point for every Rs. 150 spent on all other categories.
- Reward Point Value: 4 Reward Points are equivalent to 1 (this implies a value of Rs. 0.25 per Reward Point if redeemed against outstanding balance).
- Bonus Reward Points: Receive 2,000 bonus Reward Points upon spending Rs. 2,000 or more within the first 60 days of card membership.
Rewards Redemption Guide
- Reward Points can be used to pay the outstanding balance on your credit card.
- Reward Points can also be redeemed against a wide array of gifts from the Rewards Catalogue.
Important Product Details
- Accelerated Rewards: High reward earning rate (10x) on essential categories like dining, movies, departmental stores, and groceries.
- Fuel Surcharge Waiver: Enjoy savings on fuel transactions, with a maximum waiver of Rs. 100 per statement cycle.
- Annual Fee Reversal: The annual fee can be reversed by achieving a spend of Rs. 1,00,000 or more in the preceding year.
- Contactless Payments: Facilitates quick, convenient, and secure daily transactions by simply waving the card at a secure reader. The card never leaves your hand, reducing fraud risk.
- Worldwide Acceptance: Accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever VISA/RuPay Cards are accepted.
- Add-on Cards: Provide add-on cards to family members (parents, spouse, children, or siblings above 18 years of age) at no additional fee.
- Cash Withdrawal: Access cash from over 1 million VISA/RuPay ATMs worldwide.
- Utility Bill Payment: Conveniently pay electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
- Balance Transfer on EMI: Transfer outstanding balances from other bank credit cards to your Central Bank Of India SimplySave SBI Card at a lower interest rate, payable in EMIs.
- Flexipay: Convert any purchase of Rs. 2,500 or more into easy monthly installments (EMIs) within 30 days of the transaction.
Other Details
- Co-brand Product: This is a co-brand product, and there may be fee and revenue sharing between SBI Card and the co-brand partner.
- Payment Settlement: The order of payment settlement for cardholder accounts is available on the SBI Card website.
- Cheque Payments: Submit account payee cheques following CTS 2010 standards for timely processing of payments.
- Terms and Conditions: Continued use of the card will be deemed acceptance of any amendments in the Terms and Conditions. The Most Important Terms and Conditions are available on the SBI Card website.
- Customer Assistance: For assistance, call the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
- All information provided is correct as of the date of publication and is subject to change at the discretion of SBICPSL.