SBI Shaurya Credit Card – Benefits, Fees & Eligibility

Shaurya SBI Credit Card

Introduction

The Shaurya SBI Credit Card is specifically designed for Indian defense personnel, having transitioned from the Defense Gold card on September 27, 2019. This card offers a practical array of benefits starting with a nominal joining fee of Rs. 250, which is effectively reimbursed through a welcome bonus of 1,000 Reward Points. Cardholders can enjoy accelerated reward points on daily essential spends like CSD, dining, movies, departmental stores, and groceries, alongside a 1% fuel surcharge waiver and a complimentary personal accidental insurance cover. The card also features an annual fee waiver linked to spending, enhancing its value as a cost-effective financial tool for its target segment.

Welcome Benefits

• Get 1,000 Reward Points as a welcome gift.
• These welcome points are credited upon payment of the first-year annual fee of Rs. 250.
• The welcome benefits are applicable for cards issued on or after May 1, 2021.
• Reward points will be credited to the account within 15 working days after the annual fee payment.
• The 1,000 bonus Reward Points are equivalent to Rs. 250, effectively returning the joining fee amount.

Fees

• Joining Fee: Rs. 250 + GST (one-time).
• Renewal Fee (per annum): Rs. 250 + GST from the second year onwards.
• Spend-Based Waiver: The renewal fee is waived off on annual spends of Rs. 50,000 or more in the previous anniversary year.
• Add-on Fee (per annum): Nil.
• Rewards Redemption Fee: Rs. 99 + GST on each redemption request.
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 2.75% per month (33% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel transactions.
  • This benefit is applicable on fuel purchases between Rs. 500 and Rs. 3,000.
  • The maximum surcharge waiver is capped at Rs. 100 per statement cycle per credit card account (as per one source).
  • The maximum waiver per month is capped at Rs. 250 (as per another source).
• Cash Advance Charges: 2.5% of the withdrawn amount or Rs. 500, whichever is higher.
• Taxes: All applicable taxes would be charged on all fees, interest, and charges.

Rewards

• Accelerated Reward Points: Earn 5X Reward Points on every Rs. 100 spent in the following categories:
  • CSD (Canteen Stores Department) spends
  • Dining
  • Movies
  • Departmental Stores
  • Grocery Spends
• Standard Reward Points: Earn 1 Reward Point per Rs. 100 spent on all other categories.
• Insurance Benefits: Avail a complimentary Personal Accidental Insurance Cover of Rs. 2 Lakh, offered by RuPay.

Rewards Redemption Guide

• Reward Point Value: 4 Reward Points are equivalent to Re. 1 (or 1 Reward Point = Re. 0.25).
• Redemption Options:
  • Redeem your earned Reward Points to pay your card's outstanding balance.
  • Redeem Reward Points against a variety of products and gift vouchers available in the SBI Rewards Catalogue.
• Redemption Fee: A fee of Rs. 99 + GST will be charged for every reward redemption request.

Card Eligibility Criteria

• Applicant Profession: Must be an Indian Defense Personnel.
• Minimum Age: The applicant's age should be a minimum of 18 years.
• Income Stability: The applicant should either be salaried or self-employed and possess a stable source of income.
• Credit History: A decent credit history is required.

Card Review

The Shaurya SBI Credit Card is positioned as a foundational credit card specifically for Indian defense personnel, offering a balanced mix of benefits. Its low joining and annual fees, coupled with a welcome bonus that effectively offsets the first year's fee, make it an attractive option. The annual fee waiver based on achieving a reasonable spending threshold provides a path to essentially free card usage. The accelerated reward structure on everyday purchases such as CSD, dining, and groceries is a significant advantage for its users. The inclusion of personal accidental insurance and a fuel surcharge waiver further adds to its utility. While providing solid value for a basic card, those looking for more extensive premium benefits or higher reward earning rates might consider the Shaurya Select SBI Card, which is a superior offering within the SBI Card portfolio. Overall, it's a practical and cost-effective choice for its target demographic, focusing on daily spend benefits and essential protections.

Important Product Details

• Welcome gift of 1,000 Reward Points.
• Earn 5X Reward Points on spends at CSD, Dining, Movies, Departmental Stores, and Groceries.
• Earn 1 Reward Point per Rs. 100 on all other spends.
• Reward Points can be redeemed to pay the card's outstanding balance (4 Reward Points = Re. 1).
• Renewal fee is waived on annual spends of Rs. 50,000 or more.
• 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 (with a maximum waiver per statement cycle of Rs. 100 or Rs. 250 depending on the source).
• Complimentary Personal Accidental Insurance Cover of Rs. 2 Lakh.
• No annual fee for Add-on Cards.
• The credit card is embossed with the cardholder's service branch (AIRFORCE, ARMY, NAVY & PARAMILITARY).

Other Details

• Worldwide Acceptance:
  • The Shaurya SBI Credit Card is accepted at over 44 million merchant locations in 190 countries globally.
  • It is accepted at 3.7 million terminals within India.
  • For international acceptance, look for Pulse, Discover, & Diners Plus signages.
• Add-on Cards: Cardholders can apply for add-on cards for their parents, spouse, children, or siblings, provided they are above 18 years of age.
• Cash on the Go: Cardholders can withdraw cash from over 2 million global ATMs in 190 countries/territories, including over 43,000 SBI ATMs in India. Look for Pulse, Discover & Diners Plus signages for international acceptance.
• Utility Bill Payment Facility: The card offers an Easy Bill Pay facility to conveniently pay electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Users can transfer outstanding balances from other banks’ credit cards to their Shaurya SBI Card to benefit from a lower interest rate and convert the balance into easy monthly installments (EMIs). This service can be accessed by logging into sbicard.com.
• Flexipay: Any single purchase of Rs. 2,500 or more made with the Shaurya SBI Card can be converted into Flexipay (easy monthly installments). This conversion must be initiated by logging into sbicard.com within 30 days of the purchase.
• How to Apply:
  • Offline: Visit your nearest SBI branch with all required documents (identity proof, address proof, income proof).
  • Online: Click the "Apply Now" option on the SBI Card website and fill out the application form.
  • Contact: Apply by contacting SBI Credit Cards customer care.
• Documents Required for Application:
  • Identity Proof: PAN Card, Ration Card, Aadhar Card, Voter’s ID, Passport.
  • Address Proof: Aadhar Card, Latest utility bills (not older than three months), Ration Card, or any government-approved address proof.
  • Income Proof: Latest Bank statements/salary slips, or latest audited Income Tax Returns (ITR).
• Payment Information:
  • Cheques payable outside clearing zones are not accepted. Only local cheques or drafts payable in Delhi are accepted.
  • Information regarding the order of payment settlement for cardholder accounts is available on the SBI Card website.
• Customer Assistance: For assistance, call the SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290.
• Terms and Conditions: Detailed terms and conditions for the Shaurya SBI Card are available via a PDF link on the SBI Card website.