Karnataka BankKarnataka Bank SimplySave SBI Credit Card – Benefits, Fees & Eligibility
Is the Karnataka Bank SimplySave SBI Credit Card Right for You?
The Karnataka Bank SimplySave SBI Credit 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 Earn 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Groceries..
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 waived if annual spends for previous year are Rs. 1,00,000 or more.
Movie Benefits
Earn 10 Reward Points for every Rs. 150 spent on Movies.
Golf Benefits
Not Applicable
Things to Consider
Lacks premium benefits such as lounge access, golf privileges, or travel insurance.
The reward point valuation is relatively low, at 4 Reward Points equating to Rs. 1.
Fuel surcharge waiver is capped at Rs. 100 per statement cycle, limiting maximum savings.
Benefits & Features
Welcome Offer
2,000 bonus Reward Points on Rs. 2,000 spend (60 days). Plus Rs. 100 cashback on 1st ATM withdrawal.
Rewards Rate
Earn 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Groceries.
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 Movies.
Dining Benefits
Earn 10 Reward Points for every Rs. 150 spent on Dining.
Travel Benefits
Not Applicable
Fees & Charges
Joining Fee
₹499 + GST
Renewal Fee
₹499 + GST
Spend-Based Waiver
Renewal fee waived if annual spends for previous year are Rs. 1,00,000 or more.
Foreign Currency Markup
Not Applicable
Interest Rates
Not Applicable
Fuel Surcharge Waiver
1% waiver at any petrol pump for transactions between Rs. 500-Rs. 3,000 (Max Rs. 100/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 everyday spends like dining, movies, and groceries for accelerated savings.
Benefit from a 1% fuel surcharge waiver at petrol pumps, saving on fuel expenses monthly.
Get a welcome bonus of 2,000 Reward Points and Rs. 100 cashback on your first ATM withdrawal.
Enjoy annual fee waiver upon spending Rs. 1,00,000 or more, making it cost-effective.
Cons
Key drawbacks and limitations of this card.
Lacks premium benefits such as lounge access, golf privileges, or travel insurance.
The reward point valuation is relatively low, at 4 Reward Points equating to Rs. 1.
Fuel surcharge waiver is capped at Rs. 100 per statement cycle, limiting maximum savings.
Specific foreign currency markup and interest rates are not explicitly detailed in the markdown.
Product Details
Enjoy fast, convenient, and secure contactless payments for daily purchases.
Accepted at over 24 million outlets globally and 3.25 lakh outlets in India.
Issue add-on cards to family members above 18 years of age with no annual fee.
Access cash conveniently from over 1 million VISA/RuPay ATMs worldwide.
Pay utility bills effortlessly using the Easy Bill Pay facility online.
Convert large purchases of Rs. 2,500+ into easy monthly EMIs with Flexipay.
Benefits & Features
Welcome Offer
2,000 bonus Reward Points on Rs. 2,000 spend (60 days). Plus Rs. 100 cashback on 1st ATM withdrawal.
Rewards Rate
Earn 10 Reward Points for every Rs. 150 spent on Dining, Movies, Departmental Stores, and Groceries.
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 Movies.
Dining Benefits
Earn 10 Reward Points for every Rs. 150 spent on Dining.
Travel Benefits
Not Applicable
What matters, explained clearly
Introduction
The Karnataka Bank SimplySAVE SBI Card is designed to offer significant savings on everyday spends like dining, movies, departmental stores, and groceries, providing 10x reward points on these categories. It also includes a valuable welcome bonus, a waiver on fuel surcharges, and an annual fee reversal upon achieving a certain spending milestone, making it a value-focused credit card for daily transactions.
Welcome Benefits
- Extravaganza Offer: Get 2,000 bonus Reward Points by spending Rs. 2,000 or more within the first 60 days of card issuance.
- Cashback on First ATM Withdrawal: Receive Rs. 100 cashback on your first ATM cash withdrawal, provided it is completed within 30 days of receiving your credit card.
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 the annual spends for the previous year are Rs. 1,00,000 or more.
- Add-on Fee (per annum): NIL
- Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver at any petrol pump across India for transactions between Rs. 500 and Rs. 3,000. The maximum surcharge waiver is limited to Rs. 100 per statement cycle.
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 Rs. 1.
Rewards Redemption Guide
- Reward Points can be used to pay the outstanding balance on your credit card.
- You can also redeem your accumulated Reward Points against a diverse range of gifts available in the Rewards Catalogue.
Important Product Details
- Contactless Payment: Make daily purchases easily by simply waving your card at a secure reader. This feature offers fast, convenient, and secure transactions, reducing the need for cash and minimizing card loss or skimming risks. The unique security key ensures that only one transaction is processed even if the card is waved multiple times.
- Worldwide Acceptance: The Karnataka Bank SimplySAVE SBI Card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever VISA/RuPay Cards are accepted.
- Add-on Cards: Empower your family members (parents, spouse, children, or siblings above 18 years of age) by issuing add-on cards.
- Cash on the Go: Access cash from over 1 million VISA/RuPay ATMs worldwide.
- Utility Bill Payment Facility: Conveniently pay your electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
- Flexipay: Convert transactions of Rs. 2,500 or more into easy monthly installments (EMIs). This facility must be availed online at sbicard.com within 30 days of the purchase.
- Balance Transfer on EMI: Save money while paying your credit card dues by transferring outstanding balances from other banks' credit cards to your Karnataka Bank SimplySAVE SBI Card. This allows you to benefit from lower interest rates and pay back in EMIs. This service is available through sbicard.com.
Other Details
- For detailed information on fees and other applicable charges, refer to the Most Important Terms & Conditions (MITC).
- All payments made for a cardholder account will be settled in a specific order, as detailed in the "Order of Payment Settlement" information.
- For timely processing of cheque payments, ensure you submit account payee cheques following CTS 2010 standards.
- All mentioned fees, interest, and charges are subject to applicable taxes.
- As this is a co-brand product, there may be fee and revenue sharing between SBI Card and the co-brand partner.
- Your continued use of the card will be deemed as acceptance of any amendments in the Terms and Conditions.
- For assistance, contact 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 communication and is subject to change at the discretion of SBICPSL.
- The SBI Card Most Important Terms and Conditions are also available on sbicard.com.