SBI Shaurya Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI Shaurya Credit Card, issued by SBI, is specifically designed for individuals serving the nation, primarily Indian defense personnel. Positioned as an entry to mid-range offering, this card comes with a nominal joining fee that is effectively offset by welcome bonus Reward Points. Key differentiating benefits include a complimentary personal accident insurance cover, a rewarding points program with accelerated earnings on daily spends, and a 1% fuel surcharge waiver, making it a valuable tool for its target audience.

Welcome Benefits

• You receive 1,000 bonus Reward Points as a welcome gift.
• These bonus Reward Points are credited to your account within 15 days from the date of payment of the first year's annual fee.
• The 1,000 Reward Points are equivalent to Rs. 250, effectively covering the joining fee.

Fees

• Joining Fee: Rs. 250 + GST/taxes
• Annual Fee: Rs. 250 + GST/taxes
• Renewal Fee: Rs. 250 + GST/taxes (from the second year onwards)
• Spend-Based Waiver: The renewal fee is waived off if you spend Rs. 50,000 or more in the previous anniversary year.
• Rewards Redemption Fee: Rs. 99 + GST will be charged on each redemption request.
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 2.75% per month (equivalent to 33% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel transactions between Rs. 500 and Rs. 3,000. The maximum waiver per statement cycle is capped at Rs. 250.
• Cash Advance Charges: 2.5% of the withdrawn amount or Rs. 500, whichever is higher.
• Add-on Fee: Nil.

Rewards

Rewards Rate

• Earn 5 Reward Points on every spend of Rs. 100 on dining, groceries, movies, CSD (Canteen Stores Department), and departmental stores.
• Earn 1 Reward Point on every spend of Rs. 100 on all other categories.

Insurance Benefits

• Receive a complimentary Personal Accident Insurance Cover worth Rs. 2 lakhs.
• This insurance cover is applicable only on RuPay network cards.

Global Acceptance

• The card is accepted at over 44 million merchant locations in 190 countries globally and 3.7 million terminals in India.
• It is accepted internationally at ATMs displaying Pulse, Discover & Diners Club logos.

Cash on the Go

• Withdraw cash from over 2 million ATMs across 190 countries/territories, including 43,000+ SBI ATMs in India.
• Accepted internationally at ATMs displaying Pulse, Discover & Diners Club logos.

Flexipay EMI

• Convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs.

Add-on Cards

• Empower your family members (parents, spouse, children, or siblings above the age of 18) with add-on cards.

Easy Bill Pay Facility

• Pay your electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.

Balance Transfer on EMI

• Transfer outstanding balances from other banks’ credit cards to your Shaurya SBI Card at a lower interest rate and repay in easy EMIs.

Rewards Redemption Guide

• You can redeem your earned Reward Points against a wide array of products and gift vouchers from the SBI Rewards catalogue.
• You can also redeem your points to pay your card’s outstanding balance.
• The redemption rate is 1 Reward Point = Re. 0.25 (which means 4 Reward Points = Re. 1).
• A reward redemption fee of Rs. 99 + GST will be charged on every redemption request you make.

Card Eligibility Criteria

• The applicant should be an Indian Defense Personnel.
• The applicant’s age should be a minimum of 18 years.
• The applicant should either be self-employed or salaried, possessing a stable source of income.
• The applicant should have a decent credit history.

Documents Required

• Identity Proof: PAN Card, Ration Card, Aadhar Card, Voter’s Id, Passport, etc.
• Address Proof: Aadhar Card, Latest utility bills (no older than three months), Ration Card, any government-approved address proof, etc.
• Income Proof: Latest Bank statements/salary slips, or latest audited ITR.

Card Review

The SBI Shaurya Credit Card is a foundational credit card specifically tailored for Indian defense personnel. With a very nominal joining and annual fee of Rs. 250 + GST, the card offers a straightforward value proposition. The welcome benefit of 1,000 bonus points effectively offsets the joining fee, making the first year essentially free. Furthermore, the renewal fee can be waived annually by achieving a reasonable spend of Rs. 50,000, allowing cardholders to enjoy its benefits with minimal charges.

Pros:

• Low joining and annual fees, which can be waived.
• Welcome bonus points effectively cover the joining fee.
• Decent reward program with accelerated earnings on common spending categories like dining, groceries, and movies.
• Complimentary personal accident insurance cover.
• 1% fuel surcharge waiver.
• Global acceptance and cash withdrawal facilities.

Cons:

• A rewards redemption fee of Rs. 99 + GST is charged per request.
• The foreign currency markup of 3.5% is relatively high.
• While good for its segment, the reward rate might be considered basic compared to premium cards or even its superior variant, the Shaurya Select SBI Card.

Who should apply: This card is ideal for Indian defense personnel seeking a low-cost, value-driven credit card that offers essential benefits like insurance, fuel savings, and rewards on daily spends, especially if they can meet the annual spend target for fee waiver. Those looking for more extensive benefits or higher reward rates might consider upgrading to the Shaurya Select SBI Card or exploring other options.

Important Product Details

• 1,000 Reward Points as a welcome gift, equivalent to Rs. 250, effectively covering the joining fee.
• Earn up to 5 Reward Points on every spend of Rs. 100 on specific categories like dining, groceries, movies, CSD, and departmental stores.
• The renewal fee of Rs. 250 + GST is waived off on annual spends of Rs. 50,000 or more.
• Enjoy a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 250 per statement cycle.
• Includes a complimentary Personal Accident Insurance Cover of Rs. 2 lakhs.
• Reward Points can be redeemed against the card’s outstanding balance at a rate of 1 RP = Re. 0.25 or against products/vouchers from the SBI Rewards catalogue.
• A fee of Rs. 99 + GST is applicable on each reward redemption request.
• A foreign currency markup of 3.5% applies to all international spends.
• The interest rate is 2.75% per month (33% annually).

Other Details

• How to Apply:
  • Applicants can visit their nearest SBI branch with all required documents and fill out a physical application form.
  • Online application is available through the SBI Card website or via their Chatbot ILA.
  • Alternatively, you can apply by contacting the SBI Credit Cards customer care helpline (39 02 02 02, prefix your city STD code).
• Global Usage: The card offers global acceptance, usable at over 44 million merchant locations in 190 countries and 3.7 million terminals in India, as well as for cash withdrawals from over 2 million ATMs worldwide.
• Terms & Conditions: For comprehensive details regarding fees, charges, and other applicable terms, refer to the Digital Membership Kit, Order of Payment Settlement, Most Important Terms & Conditions, and other Terms & Conditions documents available on the SBI Card website.