PSB SimplySAVE SBI Card – Benefits, Fees & Eligibility

Introduction

The PSB SimplySAVE SBI Card is designed to offer significant savings on everyday spending categories like dining, movies, departmental stores, and groceries. It provides accelerated reward points on these spends and a complete fuel surcharge waiver, making it a suitable choice for individuals looking to maximize savings on their regular purchases. Additionally, the card offers a welcome bonus and annual fee reversal based on annual spending.

Welcome Benefits

• Spend Rs. 2,000 or more within the first 60 days of card issuance to get 2,000 bonus Reward Points.

Fees

• Annual Fee (one-time): Rs. 499 + Taxes
• Renewal Fee (per annum): Rs. 499 + Taxes from the second year onwards.
  • Spend-Based Waiver: The renewal fee is reversed if annual spends in the previous year are Rs. 1,00,000 or more.
• Add-on Fee (per annum): NIL
• Fuel Surcharge: Get freedom from paying the 1% Fuel Surcharge at any Petrol pump.
  • This offer is valid for transactions between Rs. 500 to Rs. 3,000 at any Petrol pump in India.
  • Maximum surcharge waiver is up to Rs. 100 per statement cycle on your PSB SimplySAVE SBI Card.
• All applicable taxes would be charged on all fees, interest, and charges.
• For information regarding other applicable fees and charges, refer to the Most Important Terms & Conditions.

Rewards

• Accelerated Rewards: Enjoy 10 Reward Points per Rs. 150 spent on Dining, Movies, Departmental Stores, and Grocery Spends.
• Standard Rewards: Earn 1 Reward Point per Rs. 150 spent on all other spends.
• Reward Point Value: 4 Reward Points = Rs. 1.

Rewards Redemption Guide

• Use your Reward Points to pay the outstanding balance on your Credit Card.
• Redeem your Reward Points against a wide array of gifts available in the Rewards Catalogue.

Important Product Details

• Positive Highlights:
  • Receive 2,000 bonus Reward Points on spending Rs. 2,000 within the first 60 days.
  • Earn 10x Reward Points on popular spending categories: Dining, Movies, Departmental Stores, and Groceries.
  • Benefit from a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000, capped at Rs. 100 per statement cycle.
  • Annual membership fee reversal from the second year if you spend Rs. 1,00,000 or more in the previous year.
  • Add-on cards are available at NIL fee for eligible family members.
  • Features contactless payment technology for fast and secure daily purchases.
  • Accepted worldwide at over 24 million outlets.
  • Offers easy cash withdrawal from over 1 million VISA/RuPay ATMs globally.
  • Provides Utility Bill Payment facility for convenient bill management.
  • Allows conversion of transactions of Rs. 2,500 or more into Flexipay (easy monthly installments).
  • Offers Balance Transfer on EMI facility to save money on outstanding balances from other credit cards at a lower interest rate.
• Negative Highlights:
  • An annual fee of Rs. 499 + Taxes applies, with a similar renewal fee.
  • The fuel surcharge waiver has a cap of Rs. 100 per statement cycle.
  • Standard reward earning rate is 1 Reward Point per Rs. 150, which is relatively low compared to accelerated categories.
  • The reward point value of 4 Reward Points = Rs. 1 translates to a modest redemption value.

Other Details

• Contactless Advantage:
  • Daily purchases are made easy by simply waving your card at a secure reader.
  • Offers fast and convenient transactions, eliminating the need for cash/coins for small purchases.
  • Ensures security as the card never leaves your hand, reducing the risk of card loss and fraud due to skimming.
  • A unique security key feature (Visa PayWave/RuPay contactless) ensures only one transaction goes through even if the card is waved multiple times.
• Worldwide Acceptance:
  • The PSB SimplySAVE SBI Card can be used in over 24 million outlets across the globe, including 3,25,000 outlets in India.
  • Make payments at any outlet that accepts VISA/RuPay Card.
• Add-on Cards:
  • Empower your family members (parents, spouse, children, or siblings above 18 years of age) with add-on cards.
• Cash on the Go:
  • Withdraw cash from over 1 million VISA/RuPay ATMs across the globe.
• Utility Bill Payment Facility:
  • 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 (Flexipay).
  • To avail this, log onto sbicard.com within 30 days of purchase.
• Balance Transfer on EMI:
  • Transfer the outstanding balance of other banks’ credit cards to your PSB SimplySAVE SBI Card to avail a lower rate of interest and pay back in EMIs.
  • Log onto sbicard.com with your user ID and password to avail this service.
• Order of Payment Settlement:
  • All payments made for a cardholder account will be settled in a specific order, details available via a provided link.
• Important Information:
  • Submit account payee cheques following CTS 2010 standards for timely processing.
  • All taxes are applicable on fees, interest, and charges.
  • This is a co-brand product, and there may be fee and revenue sharing between SBI Card and the co-brand partner.
  • Continued use of the card will be deemed as acceptance of any amendments in the Terms and Conditions.
  • For assistance, call SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
  • All information provided is correct as on date and is subject to change at the discretion of SBICPSL.
  • The Most Important Terms and Conditions are available at www.sbicard.com.