OLA Money SBI Credit Card – Benefits, Fees & Eligibility

Introduction

The OLA Money SBI Credit Card, issued in partnership with OLAMoney by SBI, is a co-branded credit card primarily positioned for individuals who frequently use Ola rides. It stands out with a zero joining fee and offers accelerated rewards, providing 7% Reward Points on Ola rides and 1% on all other eligible spends. The card also features a spend-based waiver for its nominal renewal fee. Please note that this card has been discontinued effective December 2025 and will be replaced with the SimplyCLICK / SimplySAVE SBI Credit Card.

Welcome Benefits

• Zero Annual Fee for the first year.

Fees

• Joining Fee: Nil
• Renewal Fee: Rs. 499 + GST (from the second year onwards)
• Spend-Based Waiver: The renewal fee of Rs. 499 is waived if the cardholder spends Rs. 1 lakh or more in the previous year.
• Rewards Redemption Fee: Rs. 99
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates:
  • 3.75% Per Month (45% Per Annum)
  • Can be up to 3.5% per month.
• Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations in India, with a maximum surcharge benefit of Rs. 100 in a statement cycle.
• Cash Advance Charges: 2.5% of the withdrawn amount or Rs. 500, whichever is higher.
• Add-on Card Fee: Nil

Rewards

• Ola Spends: Earn 7% Reward Points on all Ola rides, capped at 500 Reward Points per month.
• Other Spends: Earn 1% Reward Points on all other eligible spending.
• Reward Point Value: 1 Reward Point = Re. 1.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver at all petrol pumps across India, with a maximum waiver of Rs. 100 per statement cycle.
• Global Acceptance: The card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever Visa or MasterCard are accepted.
• Flexipay EMI: Convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs.
• Add-on Cards: Provide add-on cards for family members including parents, spouse, children, or siblings above the age of 18.
• Easy Bill Pay Facility: Pay electricity, telephone, mobile, and other utility bills conveniently.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to your OLA Money SBI Card at a lower interest rate and repay in easy EMIs.
• Easy Money Facility: Get a draft or cheque against your cash limit delivered to your doorstep.

Rewards Redemption Guide

• The reward points earned through your OLA Money SBI Credit Card are automatically credited to your OLA Money wallet.
• To receive earned points, you need to activate your OLA Money wallet by completing KYC (uploading documents and physical verification) and entering your PAN number for final verification within the Ola app.

Card Eligibility Criteria

• Age:
  • Salaried individuals: 18 years to 65 years.
  • Self-employed individuals: 21 years to 60 years.
• Income: The applicant should have a stable source of income.
• Documents Required:
  • Identity Proof: Aadhaar Card, PAN Card, Voter ID, Passport, Driving Licence, etc.
  • Address Proof: Passport, utility bills, Voter ID, Aadhaar Card, Driving Licence, rent agreement, municipal or property tax receipt, and house allotment letter issued by the central or state government.
  • Income Proof:
    • For self-employed individuals: Latest ITR (Income Tax Return) / Form 16.
    • For salaried employees: Salary slip of the latest months.

Card Review

The OLA Money SBI Credit Card is an excellent choice for individuals who frequently use Ola rides, offering significant savings through its accelerated reward program. With a zero joining fee and a manageable renewal fee that can be waived based on annual spending, it provides a cost-effective way to earn rewards. While it excels in co-branded benefits, it lacks features like lounge access. Overall, it offers a decent value proposition for its target audience, allowing users to save on most of their spending, especially on Ola rides.

Important Product Details

• Discontinuation: The OLA Money SBI Credit Card has been discontinued effective December 2025 and will be replaced with the SimplyCLICK / SimplySAVE SBI Credit Card.
• Zero Joining Fee: No joining fee is charged for the card.
• Accelerated Rewards: Earn 7% Reward Points on Ola rides (capped at 500 points/month) and 1% on all other spending.
• Renewal Fee Waiver: The annual renewal fee of Rs. 499 is waived on spending Rs. 1 lakh or more in the previous year.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver up to Rs. 100 per statement cycle.
• Rewards Redemption Fee: A fee of Rs. 99 is charged for rewards redemption.
• High Interest Rates: Interest rates can be up to 3.75% per month (45% per annum).
• Foreign Currency Markup: A 3.5% foreign currency markup fee applies to international transactions.
• Cash Advance Charges: 2.5% or Rs. 500, whichever is higher.
• No Lounge Access: The card does not provide any lounge access benefits.

Other Details

• How to Apply:
  • Online: Apply through the SBI Card website by filling in the required details.
  • Offline: Visit the nearest SBI branch with all required documents and fill out a physical application form.
• Credit Limit: The credit limit is not disclosed by the card issuer and varies for each individual based on factors like income and credit score.
• Customer Support: For assistance, call SBI Card Helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• Terms & Conditions: All taxes would be charged as applicable on all fees, interest, and charges. Continued use of the card will be deemed acceptance of amendments in all Terms and Conditions.
• Payment Acceptance: The card can be used at any outlet that accepts Visa or MasterCard.