KVB SimplySAVE SBI Card – Benefits, Fees & Eligibility

Introduction

The KVB SimplySAVE SBI Card, offered in partnership with Karur Vysya Bank and SBI Card, is tailored for individuals seeking to maximize savings on their daily expenses. This value-packed credit card rewards users generously across common spending categories, making everyday purchases more rewarding. It stands out with its accelerated reward program on dining, movies, departmental stores, and groceries, coupled with a valuable welcome bonus and a convenient annual fee waiver.

Welcome Benefits

As a welcome gesture, spend ₹2,000 or more within the first 60 days of card issuance and receive 2,000 Bonus Reward Points, equivalent to ₹500.

Fees

• Joining Fee: ₹499 + GST
• Renewal Fee: ₹499 + GST (from second year onwards)
• Spend-Based Waiver: The renewal fee is reversed if your annual spends for the previous year are ₹1,00,000 or more.
• Add-on Card Fee: Nil
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at all petrol pumps across India, with a maximum waiver of ₹100 per statement cycle.

Rewards

• Accelerated Rewards: Earn 10X Reward Points for every ₹150 spent on dining, movies, departmental stores, and groceries.
• Standard Rewards: For all other retail spends, earn 1 Reward Point for every ₹150 spent.

Rewards Redemption Guide

• Bill Payment: Redeem your accumulated Reward Points to pay your outstanding credit card bill, with a conversion rate of 4 Reward Points = ₹1.
• Rewards Catalogue: Explore the SBI Card Rewards Catalogue to choose from a wide array of gifts and vouchers.

Card Review

• Pros:
  • Accelerated 10X Reward Points on popular spending categories like dining, movies, and groceries.
  • Attractive welcome bonus of 2,000 Reward Points on initial spend.
  • Benefit from a 1% fuel surcharge waiver, saving on fuel expenses.
  • Opportunity to waive the annual renewal fee by meeting a reasonable annual spend target.
  • Wide global acceptance and convenient cash access from ATMs worldwide.
• Cons:
  • Standard reward rate of 1 Reward Point per ₹150 on non-accelerated categories is relatively low.
  • The maximum fuel surcharge waiver is capped at ₹100 per statement cycle.
  • Lacks premium benefits such as complimentary lounge access or golf privileges.
  • No specific mention of foreign currency markup, which could be a hidden cost for international use.
  • Limited high-value benefits beyond everyday spending categories.
• Ideal User Profile: The KVB SimplySAVE SBI Card is ideal for individuals who frequently spend on dining, movies, groceries, and departmental stores and are looking for a value-for-money credit card that offers significant rewards on these everyday expenses. It's also suitable for those who can meet the annual spend target to avail the renewal fee waiver.
• Verdict: The KVB SimplySAVE SBI Card is a strong contender in the entry-level segment, offering excellent value for everyday spending. Its accelerated reward structure on common categories makes it a rewarding choice for budget-conscious consumers.

Important Product Details

• Contactless Advantage: Enjoy fast, convenient, and secure payments by simply tapping your card on a secure reader.
• Global Acceptance: The card is accepted at over 24 million outlets worldwide, including 3,25,000 outlets in India, supporting both Visa and MasterCard networks.
• Cash Access Across the World: Withdraw cash conveniently from over 1 million Visa or MasterCard ATMs globally.
• Flexipay EMI: Convert your eligible purchases of ₹2,500 or more into easy monthly installments.
• Add-on Cards: Extend the benefits of your card to your family members by applying for add-on cards for your parents, spouse, children, or siblings above 18 years of age.
• Utility Bill Payment Facility: Pay your electricity, telephone, mobile, and other utility bills effortlessly using the Easy Bill Pay facility.
• Balance Transfer on EMI: Transfer outstanding balances from other banks' credit cards to your KVB SimplySAVE SBI Card at a lower interest rate and repay in easy EMIs.

Other Details

• All applicable taxes will be charged on fees, interest, and other charges.
• This is a co-brand product, and there may be fee and revenue sharing between SBI Card and Karur Vysya Bank.
• Continued use of the card implies acceptance of amendments to the Terms and Conditions.
• For assistance, contact the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• Information provided is subject to change at the discretion of SBICPSL, and the Most Important Terms & Conditions are available on the SBI Card website.