SBI Signature Corporate Card – Benefits, Fees & Eligibility

SBI Signature Corporate Card

Introduction

The SBI Signature Corporate Card is a premium business card offered by SBI Card, designed to provide comprehensive expense management solutions and unmatched privileges for corporations. It is globally accepted at over 38 million outlets, including 3 million in India, and is recognized for its high international authorization approval rate. This card focuses on efficient business expense control through features like multilayer spend control, detailed spend analysis tools, and smart expense management systems. Cardholders also benefit from a complimentary Priority Pass Program, emergency cash and card replacement services, and extensive insurance coverage for fraud and travel. With no joining fee and an annual fee of up to Rs. 499, it offers significant value for businesses looking to streamline their expenditures and provide employees with enhanced travel benefits.

Welcome Benefits

• N/A

Fees

• Joining Fee: Nil
• Annual Fee (p.a.): Up to Rs. 499 + GST
• Interest Rates:
  • Interest Free Credit Period: 20-50 days (applicable only on retail purchases if previous month's outstanding balance is paid in full).
  • Period Finance Charges: Up to 3.35% per month (40.2% per annum) from the date of transaction.
  • Note: It is a charge card and does not offer a revolving facility.
• Cash Advance Charges (If Applicable):
  • Cash advance limit: Variable.
  • Free Credit Period: Nil.
  • Finance charges: Up to 3.35% per month (40.2% per annum) from the date of withdrawal.
  • For SBI ATMs / Other Domestic ATMs: Up to 2.5% of withdrawal amount or up to Rs. 450 per transaction, whichever is higher.
  • For International ATMs: Up to 3% of withdrawal amount or up to Rs. 450 per transaction, whichever is higher.
• Rewards Redemption Fee: Rs. 99 + GST
• Foreign Currency Markup: Up to 3.5% of the transaction amount.
• Fuel Surcharge:
  • 1% of transactional value.
  • 1% Surcharge Waiver (excluding applicable taxes and other charges) for single transaction spends between Rs. 500 and Rs. 4,000 for Signature Cards.
  • Maximum surcharge waiver of Rs. 250 per statement cycle per corporate card account.
• Other Charges:
  • Payment Dishonor Fee: 2% of payment amount (subject to a minimum of Rs. 450).
  • Overlimit fees: Not Applicable on Corporate Cards.
  • Late Payment:
    • Nil for Total Amount due from Rs. 0 and up to Rs. 200.
    • Rs. 100 for Total Amount due greater than Rs. 200 and up to Rs. 500.
    • Rs. 400 for Total Amount due greater than Rs. 500 and up to Rs. 1,000.
    • Rs. 500 for Total Amount due greater than Rs. 1,000 and up to Rs. 10,000.
    • Rs. 750 for Total Amount due greater than Rs. 10,000.
  • Emergency Card Replacement: Complimentary.
  • Annual Priority Pass Fee: Nil.
  • Annual Reward Fee: Up to Rs. 300.
  • Cash Payment Fees: Rs. 100 + Applicable taxes.
  • Cheque Pickup: Rs. 90.
  • Statement Retrieval: Nil.
  • Cheque Fee: Rs. 100 (for cheque payments up to Rs. 2,000).
  • Priority Pass Lounge Charges: An usage fee of 27 per visit + applicable taxes for all airport lounge visits within and outside India through the Priority Pass Program. An usage fee of 27 per visit + applicable taxes for all accompanying guests.
  • Railway Tickets - Railway Counters: Rs. 30 + 2.5% of transaction amount.
  • Railway Tickets (www.irctc.co.in): 1.8% of transaction amount + all applicable taxes.
  • Payment of Custom duty: 2.25% of transaction amount (subject to minimum of Rs. 75).

Rewards

Travel

• Priority Pass Program:
  • Complimentary Priority Pass Program membership (worth $99).
  • Enjoy access to more than 600 international airport lounges worldwide.
  • A usage fee of only $27 plus applicable taxes will be charged to your card per visit.
• Domestic Lounge Access Program:
  • Complimentary access for Corporate Cardholders (maximum of 2 visits per quarter) at all participating lounges at airports within India.
  • Paid Access: Cardholders are also entitled to unrestricted (chargeable) access for themselves and their accompanying guests.
• Concierge Service:
  • Personalized customer service for SBI Signature Corporate cardholders.
  • Make reservations for airlines, hotels, car rentals, cruise lines, and more.
  • Information, reservations, and referrals are available at no cost.
  • The cost of any goods or services purchased are billed directly to the SBI Signature Corporate card.

Insurance

• Fraud related insurance:
  • Individual cards: Cover equal to the credit limit of the card, subject to a maximum amount of Rs. 2 lakhs.
  • Corporate level: Per corporate entity, the cover is limited to a maximum of Rs. 60 lakhs.
  • Fraud add-on cover against Counterfeit, Skimming and Online Frauds: Sum assured is up to Rs. 2 lakhs.
  • Enjoy a client-friendly claim settlement process.
• Travel related insurance:
  • Air accidental death: Sum assured is Rs. 1 crore if the ticket is purchased on the corporate card.
  • Lost card liability: Up to Rs. 3 lakhs for misuse of the lost card (48 hours prior notification and 7 days post notification).
  • Travel insurance benefits:
    • For baggage loss, sum assured is up to Rs. 75,000.
    • For baggage delay, sum assured is up to Rs. 7,500.
    • For loss of passport (international only), sum assured is up to Rs. 12,500.
    • For flight delay, sum assured is up to Rs. 15,000.

Lifestyle

• Bouquet of Offers: Enjoy a host of offers available with the SBI Signature Corporate Card.

Other Benefits (Expense Management & Security)

• Global Acceptance: Accepted at over 38 million outlets across the globe, including 3 million outlets in India, and recognized for its highest international authorization approval rate.
• 24x7 Services:
  • Dedicated team of Service Desk Executives and Relationship Managers for assistance and support.
  • Easily report or block a lost or stolen card anytime.
  • Card can be replaced within 48 to 72 hours from anywhere in the world.
  • Avail emergency cash access across the world.
  • Priority Servicing: Enjoy the highest servicing level across all SBI Card products.
• Multilayer Spend Control:
  • Category control: Restrict non-permitted merchant categories like jewelry, casinos, etc., to prevent inadvertent expenses.
  • Limit control: Card usage can be kept within permitted entitlement limits by setting daily, weekly, and monthly limits on the corporate card.
• Chip and PIN Benefits:
  • Keeps transactions more secure across the world.
  • EMV chip enabled, requiring a secure personal identification number (PIN) at the POS terminal.
  • Helps protect against the threat of 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.
  • No delivery charges for SBI Signature Corporate Cardholders.
  • Get card replaced within 72 hours of request or even sooner.
  • Seamless and convenient process: Call Visa GCAS helpline/SBI Card helpline.
• Spend Analysis:
  • Utilize spend management tools like Visa Intellink (Visa) / SmartData Gen2 (Mastercard) to analyze the organization’s spending pattern and control expenses better.
  • Benefit from a web-based interface that requires no changes in the organization’s systems.
  • Easy access to SBI Signature Corporate Cardholder’s expenses to check policy breaches and ensure compliance.
  • Leverage category-wise tracking to negotiate better rates and terms with vendors and suppliers.
  • Dashboard for quick snapshots of key information.
  • Get email alerts to signal key events like approvals, availability of reports or statements, and program thresholds.
  • Use self-service interactive reports with multiple filters, sort options, and drill-down capability for accurate spending information.
  • Sourcing tool to analyze cardholder’s spend, including import of non-card activity for a holistic view.
• Smarter Expense Management:
  • Track and control the organization’s expenses with spend management tools.
  • Receive monthly statements at the corporate level in a single view showing key Merchant Category Code-wise spend breakup, simplifying payment and reconciliation.
  • Get real-time transaction alerts through email and SMS with available credit limit.
  • Access seamless daily transaction data with entity-specific set-up; data file format is fully compatible with all major global expense systems.
  • Cost center changes are managed at the backend for smooth transitions of employees carrying the corporate card across entities.
  • Optimum utilization of credit line among a large number of employees through a dynamic credit limit facility.

Rewards Redemption Guide

• N/A (No specific reward points or redemption mechanism detailed for this corporate card).

Card Eligibility Criteria

• Eligibility Rules:
  • The applicant’s age should be between 21 and 70 years.
  • The applicant should own a business with a stable income.
  • The credit score of the applicant and the business credit score might play an important role.
• Documents Required:
  • Identity Proof: Aadhaar Card, Voter’s ID, PAN Card, Driving License, or Passport.
  • Address Proof: Latest utility bills, Aadhaar 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 Signature Corporate Card stands out as an excellent business card, particularly beneficial for individuals who frequently travel for business. While it does not offer a traditional rewards rate on all purchases, it provides a robust suite of privileges across various categories crucial for corporate operations. Its strong points include comprehensive insurance coverage for both fraud and travel, dedicated Priority Servicing, and an exclusive Concierge Service. The card is highly effective for managing and tracking business-related expenditures, offering advanced spend control and analysis tools. Overall, it's a valuable tool for corporations seeking to streamline their expense management and provide employees with significant travel and security benefits.

Important Product Details

• Positive Highlights:
  • Global acceptance at over 38 million outlets.
  • Highest international authorization approval rate.
  • Complimentary Priority Pass Program membership for access to 600+ international airport lounges.
  • Complimentary domestic airport lounge access (2 visits per quarter).
  • Extensive fraud-related insurance cover up to Rs. 2 lakhs for individual cards and Rs. 60 lakhs at a corporate level.
  • Comprehensive travel insurance, including Rs. 1 crore for air accidental death and cover for lost baggage, flight delays, and passport loss.
  • Multilayer spend control with category and limit restrictions.
  • Chip and PIN security for enhanced transaction safety.
  • 24x7 emergency cash disbursement within 24 hours.
  • Complimentary emergency card replacement worldwide within 72 hours.
  • Advanced spend analysis tools (Visa Intellink/SmartData Gen2) for better expense control and negotiation.
  • Smarter expense management features like corporate-level statements, real-time alerts, and dynamic credit limits.
  • Personalized concierge service for travel and other reservations.
  • No joining fee.
• Negative Highlights:
  • Annual Fee of up to Rs. 499 + GST.
  • A usage fee of $27 + applicable taxes for each Priority Pass lounge visit for cardholders and guests.
  • Foreign currency markup of up to 3.5%.
  • Cash advance charges apply (up to 3% or Rs. 450, whichever is higher, for international ATMs).
  • No explicit reward points program or reward rate mentioned.
  • Rewards redemption fee of Rs. 99 + GST applies.

Other Details

• Customer Assistance: For any assistance, please call: 1860 180 1290 or 39 02 02 02 (prefix local STD code) or reach via email at sbicorporate.services@sbicard.com.
• Applicable Taxes: All taxes would be charged as applicable on all fees, interest, and charges.
  • For cardholders with a state of residence in Haryana: Central Tax @ 9% and State Tax @ 9%.
  • For cardholders with a state of residence other than Haryana: Integrated Tax @ 18%.
• Card Finance Charge: Dynamic and based on the cardholder's usage and payment patterns, subject to periodic review.
• Changes in Schedule of Charges: Any changes will be communicated via email and available on the official website. Continued use of the card will be deemed acceptance of these amendments.
• Order of Payment Settlement: Total amount due (inclusive of applicable taxes), followed by fees and other charges, interest charges, retail outstanding, and cash advance.
• Lost/Stolen Card Liability:
  • Cardholder should contact SBICPSL immediately via the SBI Card Helpline if the Corporate Card is misplaced, lost, stolen, mutilated, or not received.
  • SBICPSL is not liable for transactions prior to reporting the loss, and the Cardholder/Corporate will be wholly liable for the same.
  • The Corporate will not be liable for transactions made on the Card after SBICPSL receives written notice of the loss/theft/misuse.