SBI Signature Corporate Card – Benefits, Fees & Eligibility

Introduction

The SBI Signature Corporate Card, issued by SBI Card, is a business-oriented credit card designed to provide comprehensive expense management solutions for corporations. Positioned as a beneficial card for business expenses, it offers global acceptance, multilayer spend control, and robust insurance coverage. Key differentiating benefits include complimentary Priority Pass and Visa Lounge Access programs, extensive fraud and travel insurance, and advanced spend analysis tools for efficient corporate expense tracking.

Fees

• Joining Fee: Nil
• Annual Fee: Up to ₹499 per annum (plus applicable taxes)
• Interest Rates (Period Finance Charges): Up to 3.35% per month (40.2% per annum) from the date of transaction. This card is a charge card and does not offer a revolving facility. Finance charge is dynamic and based on cardholder's usage and payment patterns, subject to periodic review.
• Interest Free Credit Period: 20-50 days (applicable only on retail purchases and if previous month's outstanding balance is paid in full).
• Cash Advance Limit: Variable
• Cash Advance Free Credit Period: Nil
• Cash Advance Finance Charges: Up to 3.35% per month (40.2% per annum) from the date of withdrawal.
• Cash Advance Fee (Domestic ATMs - SBI ATMs / Other Domestic ATMs): Up to 2.5% of withdrawal amount or up to ₹450 per transaction, whichever is higher.
• Cash Advance Fee (International ATMs): Up to 3% of withdrawal amount or up to ₹450 per transaction, whichever is higher.
• Payment Dishonor Fee: 2% of payment amount (subject to a minimum of ₹450).
• Overlimit Fees: Not Applicable on Corporate Cards.
• Late Payment Fees:
  • Nil for Total Amount due from ₹0 and up to ₹200.
  • ₹100 for Total Amount due greater than ₹200 and up to ₹500.
  • ₹400 for Total Amount due greater than ₹500 and up to ₹1,000.
  • ₹500 for Total Amount due greater than ₹1,000 and up to ₹10,000.
  • ₹750 for Total Amount due greater than ₹10,000.
• Emergency Card Replacement: Complimentary.
• Foreign Currency Transaction (Conversion Mark-up): Up to 3.5% of the transaction amount.
• Rewards Redemption Fee: ₹99.
• Annual Priority Pass Fee: Nil (membership is complimentary).
• Annual Reward Fee: Up to ₹300.
• Cash Payment Fees: ₹100 + Applicable taxes.
• Cheque Pickup: ₹90.
• Statement Retrieval: Nil.
• Cheque Fee: ₹100 (for cheque payment up to ₹2000).
• Priority Pass Lounge Charges: All airport lounge visits within and outside India through the Priority Pass Program will be charged an usage fee of 27 per visit + applicable taxes. Guests accompanied by the SBI Cardholder with Priority Pass will also be charged 27 per visit + applicable taxes.
• Railway Tickets Surcharge (Railway Counters): ₹30 + 2.5% of transaction amount.
• Railway Tickets Surcharge (www.irctc.co.in): 1.8% of transaction amount + all applicable taxes.
• Petrol & all products/services Surcharge: 1% of transactional value. A 1% surcharge waiver (excluding applicable taxes and other charges) is provided for single transaction spends between ₹500 and ₹4000 for Signature Cards. Maximum surcharge waiver of ₹250 per statement cycle per corporate card account for Signature Cards.
• Payment of Custom Duty: 2.25% of transaction amount (subject to minimum of ₹75).

Rewards

The card does not offer a traditional points-based rewards program (Reward Type: N/A, Rewards Rate: N/A). However, it provides significant benefits in other categories:

Travel

• Complimentary Priority Pass Program Membership: Enjoy access to more than 600 international airport lounges worldwide. A usage fee of $27 plus applicable taxes will be charged per visit.
• Visa Lounge Access Program (Domestic): Complimentary access for Corporate Cardholders (maximum of 2 visits per quarter) at participating lounges within India. Unrestricted (chargeable) access is also available for cardholders and accompanying guests.

Insurance

• Fraud Related Insurance:
  • Individual Cards: Cover equal to the credit limit of the card, subject to a maximum of ₹2 lakhs.
  • Corporate Level: Per corporate entity, the cover is limited to a maximum of ₹60 lakhs.
  • Includes fraud add-on cover against Counterfeit, Skimming, and Online Frauds up to ₹2 lakhs.
  • Complimentary insurance cover against fraud by employees, exclusively for SBI Corporate Card clients.
  • Insurance will cover the organisation’s corporate card liability against fraud by employees.
  • Client-friendly claim settlement process.
• Travel Related Insurance:
  • Air Accidental Death: Sum assured is ₹1 crore if the ticket is purchased on the corporate card.
  • Lost Card Liability: For misuse of the lost card, with 48 hours prior notification and 7 days post notification, sum assured is up to ₹3 lakhs.
  • Baggage Loss: Sum assured is up to ₹75,000.
  • Baggage Delay: Sum assured is up to ₹7,500.
  • Loss of Passport (International only): Sum assured is up to ₹12,500.
  • Flight Delay: Sum assured is up to ₹15,000.
  • Avail up to ₹1 Crore of complimentary travel insurance cover for employees.

Lifestyle

• Concierge Service: Enjoy personalized customer service for reservations for airlines, hotels, car rentals, cruise lines, and more. Information, reservations, and referrals are available at no cost, while the cost of goods or services purchased are billed directly to the card.
• Bouquet of Offers: Enjoy a host of offers on the SBI Signature Corporate Card (details available in the Offers section of the SBI Card website).

Card Eligibility Criteria

• Age: The applicant’s age should be between 21 and 70 years.
• Business Ownership: The applicant should own a business with a stable income.
• Credit Score: The credit score of the applicant and the business credit score might 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. may be required.

Card Review

The SBI Signature Corporate Card is an excellent business card for corporations focused on efficient expense management and frequent business travel. It stands out with its global acceptance, robust multilayer spend control, and comprehensive insurance benefits covering both fraud and travel. The complimentary Priority Pass and Visa Lounge Access are significant perks for business travelers. While it does not offer a traditional rewards points program, its focus on corporate benefits, emergency services, and detailed spend analysis tools makes it highly effective for tracking and controlling business expenditures. The card offers a strong value proposition with no joining fees and a reasonable annual fee, making it a suitable choice for businesses looking for a powerful expense management tool with premium travel and security features.

Important Product Details

• Global Acceptance: Accepted at over 38 million outlets worldwide, including 3 million outlets in India, with a high international authorization approval rate.
• 24x7 Services: Dedicated Service Desk Executives and Relationship Managers for assistance.
  • Easily report or block lost or stolen cards anytime.
  • Card replacement within 48 to 72 hours from anywhere in the world.
  • Emergency cash access across the world.
• Multilayer Spend Control:
  • Category Control: Restrict non-permitted merchant categories (e.g., jewelry, casinos) to prevent inadvertent expenses.
  • Limit Control: Set daily, weekly, and monthly limits on card usage to keep within permitted entitlement limits.
• Chip and PIN Benefits: Enhanced security for transactions globally with an embedded EMV chip and required PIN entry at POS terminals, protecting against counterfeit, skimming, and lost/stolen card frauds.
• Emergency Cash Disbursement: Access cash in times of emergency within 24 hours.
• Emergency Card Replacement: Card can be replaced from anywhere in the world within 72 hours (or sooner) without delivery charges.
• Spend Analysis (Visa Intellilink Spend Management Tool):
  • Analyze organizational spending patterns and control expenses.
  • Web-based interface requiring no changes to the organization’s systems.
  • Easy access to cardholder expenses to check policy breaches and ensure compliance.
  • Category-wise tracking to leverage and negotiate better rates with vendors.
  • Dashboard for quick snapshots of key information.
  • Email alerts for key events like approvals, report/statement availability, and program thresholds.
  • Self-service interactive reports with multiple filters, sort options, and drill-down capability.
  • Sourcing tool to analyze cardholder spend, including import of non-card activity for a holistic view.
• Smarter Expense Management (Visa Intellilink Spend Management Tool):
  • Track and control organizational expenses.
  • Monthly corporate-level statement with Merchant Category Code-wise spend break-up for simpler payment and reconciliation.
  • Real-time transaction alerts via email and SMS with available credit limit.
  • Seamless daily transaction data with entity-specific setup, compatible with major global expense systems.
  • Cost center changes managed at the backend for transitioning employees.
  • Optimum utilization of credit line among employees through dynamic credit limit facility.
• Priority Servicing: Enjoy the highest servicing level across all SBI Card products, with connectivity via mails, calls, letters, SMS, or website.

Other Details

• Total Amount Payable: Total Outstanding Due.
• Order of Payment Settlement: Total amount due (inclusive of applicable taxes), followed by fees and other charges, interest charges, retail outstanding, and cash advance.
• Applicable Taxes: All taxes would be charged as applicable on all fees, interest, and charges.
  • For cardholders with state of residence as "Haryana" on the statement date: Central Tax @ 9% and State Tax @ 9%.
  • For cardholders with state of residence other than "Haryana" on the statement date: Integrated Tax @ 18%.
• Any changes in the schedule of charges will be communicated via email and made available on the sbicard.com website. Continued use of the card will be deemed acceptance of these amendments.
• For assistance, contact 1860 180 1290 or 39 02 02 02 (prefix local STD code), or email sbicorporate.services@sbicard.com.