PSB SimplySAVE SBI Card – Benefits, Fees & Eligibility

Introduction

The PSB SimplySAVE SBI Card, issued by SBI Card in partnership with PSB, is positioned as a value-for-money credit card designed for everyday spending. It offers significant reward benefits, particularly for dining, movies, grocery, and departmental store purchases, along with a welcome bonus and a fuel surcharge waiver, making it suitable for individuals looking to maximize savings on routine expenses.

Welcome Benefits

• Receive 2,000 Bonus Reward Points upon spending Rs. 2,000 or more within the first 60 days of card issuance. These bonus points are worth Rs. 500.

Fees

• Joining Fee: 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 annual spends for the previous year are Rs. 1,00,000 or more.
• Add-on Card Fee (per annum): 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.
• All taxes would be charged as applicable on all fees, interest, and charges.

Rewards

• Earn 10X Reward Points for every Rs. 150 spent on dining, movies, departmental stores, and grocery purchases.
• Earn 1 Reward Point for every Rs. 150 spent on all other categories.
• Reward Point Value: 4 Reward Points are equivalent to Re. 1 when used to pay your outstanding card bill.
• Fuel Surcharge Waiver: A 1% fuel surcharge waiver is applicable on transactions between Rs. 500 and Rs. 3,000 at any petrol pump in 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/MasterCard is accepted.
• Cash Access: 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: Provide add-on cards for family members (parents, spouse, children, or siblings) above 18 years of age at no additional annual fee.
• Utility Bill Payment Facility: Utilize the Easy Bill Pay facility to pay 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.

Rewards Redemption Guide

• You can pay your outstanding card bill using your accumulated reward points, where 4 Reward Points equal Re. 1.
• Browse through the Rewards Catalogue to choose from a variety of gifts.

Important Product Details

• Positive Highlights:
  • Generous 10X Reward Points on high-frequency spending categories like dining, movies, grocery, and departmental stores.
  • Attractive welcome bonus of 2,000 Reward Points.
  • 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000.
  • Renewal fee waiver on annual spends of Rs. 1 lakh.
  • Nil add-on card fee.
  • Global acceptance and cash access.
  • Contactless payment feature for quick and secure transactions.
  • Options for Flexipay EMI and Balance Transfer on EMI.
• Considerations:
  • The maximum fuel surcharge waiver is capped at Rs. 100 per statement cycle.
  • The 10X reward points are limited to specific categories, with a lower earning rate on all other spends.

Other Details

• Contactless Advantage:
  • Tap & Pay with Ease: Make effortless everyday payments by simply tapping your card on a secure reader.
  • Fast & Convenient: Eliminates the need to hand over your card or use cash for small, everyday payments.
  • Secure Transactions: Your card remains in your hand, reducing fraud risk. Visa PayWave’s unique security key ensures only one transaction is processed even if tapped multiple times.
• This is a co-brand product, and there may be fee and revenue sharing between SBI Card and the co-brand partner.
• Your continued use of the card will be deemed acceptance of any amendments in the Terms and Conditions.
• For assistance, you can call the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• All information is subject to change at the discretion of SBICPSL.
• For detailed information regarding fees and other applicable charges, refer to the Most Important Terms & Conditions.
• To apply for the PSB SimplySAVE SBI Card, visit the nearest PSB Branch.