SBI Corporate Utility Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI Corporate Utility Credit Card is designed to simplify and accelerate utility bill payments for organizations. This card offers businesses a convenient and secure way to manage their utility expenses, providing enhanced control and transparency over corporate spending. Key benefits include a consolidated organization-level statement, customized Management Information System (MIS) and analytics capabilities, multi-layer spend controls, and complimentary Fidelity Guarantee Insurance cover against employee fraud. With no joining or annual fees, it is a practical solution for corporates looking to streamline their operational payments.

Welcome Benefits

• N/A

Fees

• Joining Fee: Nil
• Annual Fee: Nil
• Spend-Based Waiver: Not Applicable
• Rewards Redemption Fee: Rs. 99
• Annual Reward Fee: Up to Rs. 300
• Foreign Currency Markup: Up to 3.5% of the transaction amount
• Interest Rates:
  • Interest-free credit period: 15-32 days (applicable only on retail purchases and if the previous month's outstanding balance is paid in full).
  • Finance charges on extended credit: Up to 3.35% per month (40.2% per annum from the transaction date).
  • Cash Advance Free Credit Period: Nil.
  • Finance charges on cash advance: Up to 3.35% per month (40.2% per annum from the date of withdrawal).
• Cash Advance Fee (If Applicable):
  • SBI ATMs / Other Domestic ATMs: Up to 2.5% of the withdrawal amount or Up to Rs. 450 per transaction, whichever is higher.
  • International ATMs: Up to 3% of the withdrawal amount or up to Rs. 450 per transaction, whichever is higher.
• Overlimit fees: Not Applicable on Corporate Cards.
• Late Payment Charges:
  • NIL for Total Amount due from Rs. 0 - Rs. 200.
  • Rs. 100 for Total Amount due greater than Rs. 200 & up to Rs. 500.
  • Rs. 400 for Total Amount due greater than Rs. 500 & up to Rs. 1000.
  • Rs. 500 for Total Amount due greater than Rs. 1000 & up to Rs. 10,000.
  • Rs. 750 for Total Amount due greater than Rs. 10,000.
• Emergency Card Replacement: Complimentary.
• Payment Dishonor Fee: 2% of the payment amount (subject to a minimum of Rs. 450).
• Cheque Pickup: Rs. 90.
• Statement Retrieval: Nil.
• Cheque Fee: Rs. 100 (for cheque payments up to Rs. 2000).
• Surcharge (If Applicable):
  • Railway tickets - Railway counters: Rs. 30 + 2.5% of the transaction amount.
  • Railway tickets - irctc.co.in: 1.8% of the transaction amount + service charge, as applicable.
  • Petrol & all products/services:
    • 1% of transactional value (excluding all applicable taxes wherever applicable + other charges) for single transaction spends between Rs. 500 and Rs. 4000 for Signature & Platinum Cards.
    • 1% of transactional value (excluding all applicable taxes wherever applicable + other charges) for single transaction spends between Rs. 500 and Rs. 3,000 for all other cards.
    • Maximum surcharge waiver of Rs. 250 per statement cycle per corporate card account for Signature & Platinum cards.
    • Maximum surcharge waiver of Rs. 100 per corporate card account for all other cards.

Rewards

• Reward Type: Not Applicable
• Rewards Rate: Not Applicable
• Movie & Dining: Not Applicable
• Travel: Not Applicable
• Domestic Lounge Access: Not Applicable
• International Lounge Access: Not Applicable
• Golf: Not Applicable

BillDesk BillPay - Corporate

• Offers total flexibility and ease of payments.
• Provides better convenience and control over utility bill payments.
• Allows 24x7 online access via www.payments.billdesk.com/corporate.
• Ensures transparency and compliance in payment processes.
• Offers enhanced security through approval flows for all biller additions and individual payments based on a predefined threshold.

Consolidated Payment Option

• Helps manage the organization's utility bills more efficiently.
• Enables making a single consolidated payment for bills towards a particular biller.

Insurance Benefits

• Fraud Related Insurance:
  • Individual cards: Cover equal to the credit limit of the card, subject to a maximum amount of Rs. 2 lakhs.
  • At a corporate level: The cover is limited to a maximum of Rs. 60 lakhs per corporate entity.
• Complimentary Fidelity Guarantee Insurance cover for the organization against employee fraud.

Spend Analysis / Smarter Expense Management

• Utilizes Visa Intellilink Spend Management to control and manage organizational spends more effectively.
• Visa Intellilink is a web-based interface that provides a dashboard for quick snapshots of key information without requiring any system changes.
• Enables spend category control, allowing limits to be set on categories such as mobile, landline, gas, and electricity payments.

24x7 Services

• Access to a dedicated team of Service Desk Executives and Relationship Managers for assistance and support.
• For assistance, call: 1860 180 1290 / 39 02 02 02 (prefix local STD code).

Chip and Pin Benefits

• Features Chip and Pin security for more secure transactions in India and abroad.
• Chip and Pin enabled cards carry an embedded EMV chip and require a secure Personal Identification Number (PIN) to be entered by the cardholder on the POS terminal.
• This feature helps protect against the threat of counterfeit, skimming, and lost and stolen card frauds.

Flexible Reporting / Customized Solution & Controls

• Offers round-the-clock availability of information and real-time access to expense management.
• Provides user-friendly reports with a complete history of transactions.
• Corporate will receive 2 e-statements for SBI Corporate Utility Card:
  • Corporate Utility Card Consolidated Statement: Generated on the 2nd of every month, including all details pertaining to all card accounts for the corporate.
  • Consolidated Corporate Utility Card Interim Statement: Generated on the 13th of every month, including all debit transactions of all card accounts for the corporate for the period of the 3rd to the 13th of the same month.

Fuel Surcharge Waiver

• 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 for "all other cards" category, with a maximum waiver capped at Rs. 100 per month.

Rewards Redemption Guide

• Not Applicable

Card Eligibility Criteria

Eligibility Rules

• The applicant’s age should be between 21 years to 70 years.
• The applicant should own a business with a stable income.
• The credit score of the applicant and the business credit score might also play an important role.

Documents Required

• Identity Proof: Aadhar Card, Voter’s Id, PAN Card, Driving License, or Passport.
• Address Proof: Utility bills of the latest months, Aadhar Card, Passport, or any other government-approved address proof.
• Income Proof: Latest audited ITR, a business registration certificate, a passport-sized photograph, etc.

Card Review

The SBI Corporate Utility Credit Card is a fundamental corporate card designed by SBI Bank, primarily focused on simplifying and expediting utility bill payments for businesses. It stands out for its instant and flexible utility bill payment capabilities, making it highly beneficial for organizations with substantial utility expenses by saving considerable time and effort. The card uniquely provides both consolidated organization-level statements and individual statements, along with customized MIS and analytics to facilitate better expense tracking and control. While it lacks traditional reward points or cashback on utility payments and extensive lifestyle or travel benefits common with personal credit cards, its core strengths lie in robust expense management features, multi-layer spend controls, and a complimentary Fidelity Guarantee Insurance cover against employee fraud, offering peace of mind to corporate users. The card has a rating of 4.5/5.

Important Product Details

• Nil Joining Fee and Annual Fee.
• Designed for simple, fast, and secure payment of corporate utility bills.
• Provides consolidated organization-level statements and individual statements for detailed tracking.
• Offers customized Management Information System (MIS) & Analytics capabilities.
• Features multi-layer spend controls and the ability to set category-based spending limits.
• Includes complimentary Fidelity Guarantee Insurance cover against employee fraud, with coverage up to Rs. 2 lakhs for individual cards and a maximum of Rs. 60 lakhs per corporate entity.
• Equipped with Chip and PIN security for enhanced transaction safety against various frauds.
• Offers 24x7 dedicated service desk support with Relationship Managers.
• Provides flexible reporting and real-time access to expense management.
• No reward points or cashback on utility payments.
• Offers a 1% fuel surcharge waiver for transactions between Rs. 500 and Rs. 3,000 (maximum waiver capped at Rs. 100 per month for "all other cards").
• High finance charges of up to 3.35% per month (40.2% per annum) are applicable if the total outstanding balance is not paid in full by the due date.

Other Details

• How to Apply: You can apply for the SBI Corporate Utility Credit Card either online via the SBI Card’s official website or offline by visiting your nearest SBI branch and filling out a physical application form.
• Applicable Taxes (for Statements issued on or after 1st July, 2017):
  • For cardholders with a state of residence recorded as "Haryana" on the statement date: Central Tax @ 9% and State Tax @ 9%.
  • For cardholders with a state of residence other than "Haryana": Integrated Tax @ 18%.
• Card Finance charges are dynamic and will be based on the cardholder's usage and payment patterns, subject to periodic review.
• Any changes in the schedule of charges will be communicated via email and will be available on sbicard.com. Continued use of the card will be deemed acceptance of these amendments.
• To contact SBI Card for assistance, please refer to the corporate contact us page on the website or call 1860 180 1290 / 39 02 02 02 (prefix local STD code).
• Total amount payable is the Total outstanding due (for consolidated Statement).
• Minimum amount due is the Total amount due.
• All payments made for a cardholder account will be settled in the order of Total Amount Due (inclusive of applicable taxes), followed by fees and other charges, Interest charges, retail outstanding, and cash advance.