SBI SimplySAVE UPI Rupay Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI SimplySAVE UPI Rupay Credit Card is an excellent entry-level credit card designed for individuals new to credit, seeking to save money on everyday expenses. It offers a nominal annual fee and provides accelerated reward points on essential spending categories like groceries, movies, dining, and departmental store purchases. A key highlight is its compatibility with UPI applications, allowing cardholders to link their card for seamless UPI payments and enjoy an interest-free credit period on daily needs. Additionally, the card offers an annual fee waiver upon achieving a reasonable spending milestone, making it potentially free from annual charges.

Welcome Benefits

• Receive 2,000 bonus Reward Points when you spend ₹2,000 or more within the first 60 days of card activation. These bonus points are worth ₹500.

Fees

• Joining Fee (one-time): ₹499 + GST
• Renewal Fee (per annum): ₹499 + GST, applicable from the second year onwards.
• Spend-Based Waiver: The renewal fee can be reversed if your annual spends in the preceding year are ₹1,00,000 or more.
• Add-on Fee (per annum): Nil
• Rewards Redemption Fee: ₹99 + GST per redemption.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% per month (equivalent to 45% annually).
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at any petrol pump in India.
• Fuel Surcharge Cap: Maximum surcharge waiver is capped at ₹100 per statement cycle.
• Cash Advance Charges: 2.5% of the amount withdrawn, subject to a minimum of ₹500 (whichever is higher).
• All fees, interest & charges: Would be charged as applicable, along with all relevant taxes.

Rewards

• Accelerated Reward Points: Earn 10 Reward Points for every ₹150 spent on Dining, Movies, Departmental Stores, and Grocery purchases. This translates to a reward rate of 1.7% in these categories.
• Accelerated Reward Points Cap: You can earn up to 5,000 accelerated Reward Points in a month. After reaching this cap, the normal reward rate will apply.
• Standard Reward Points: Earn 1 Reward Point for every ₹150 spent on all other purchases. This is a reward rate of 0.17%.
• Exclusions: No Reward Points are awarded for rent, government, and fuel transactions.

Rewards Redemption Guide

• Value of Reward Points: 1 Reward Point = ₹0.25 (which means 4 Reward Points = ₹1).
• Redemption Options:
  • Redeem points for gift vouchers by logging in to the SBI Card website or via the SBI mobile app.
  • Use Reward Points to pay the outstanding balance on your credit card through Internet Banking.
  • Redeem points against a wide array of gifts and products from the Rewards Catalogue on the SBI Card website.
• Redemption Fee: A fee of ₹99 + GST is applicable for reward redemptions.

Card Eligibility Criteria

• Age:
  • Salaried: 18 years - 65 years
  • Self-employed: 21 years - 65 years
• Income:
  • Salaried: Minimum ₹20,000 per month
  • Self-employed: Minimum ₹20,000 per month (as per ITR)

Card Review

The SBI SimplySAVE UPI Rupay Credit Card is considered an ideal card for first-time credit card users, offering significant savings opportunities on everyday spending. Its low annual fee of ₹499 is easily waived by spending ₹1 lakh annually. The card excels in providing accelerated rewards on common household and entertainment expenses like groceries, movies, dining, and departmental stores. However, it lacks advanced travel benefits, such as domestic or international lounge access, and does not provide insurance benefits. The ₹99 redemption fee for rewards is a minor drawback. For individuals primarily focused on saving on daily essentials and making UPI payments with a credit card, this card presents a strong value proposition. Those who prefer online shopping might find other SBI cards like SimplyCLICK more rewarding.

Important Product Details

• Welcome Benefit: Spend ₹2,000 within the first 60 days to get 2,000 bonus Reward Points (worth ₹500).
• UPI Enabled: Link your SimplySAVE UPI SBI Card to any UPI App to enjoy interest-free credit period on everyday UPI payments.
• Accelerated Rewards: Earn 10 Reward Points per ₹150 on dining, movies, departmental stores, and grocery spends.
• Standard Rewards: Earn 1 Reward Point per ₹150 on all other eligible spends.
• Annual Fee Reversal: Annual membership fee reversed from the second year if annual spends are ₹1,00,000 or more in the previous year.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000, capped at ₹100 per statement cycle.
• Worldwide Acceptance: The card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, supporting Visa or MasterCard networks.
• Contactless Advantage: Facilitates fast, convenient, and secure daily purchases by simply waving the card at a secure reader.
• Add-on Cards: Available at no additional cost for parents, spouse, children, or siblings above 18 years of age.
• No Lounge Access: The card does not offer domestic or international airport lounge access.
• No Insurance Benefits: There are no insurance benefits associated with this card.
• Reward Redemption Fee: A charge of ₹99 + GST applies to reward redemptions.

Other Details

• Cash on the Go: Withdraw cash from over 1 million Visa or MasterCard ATMs worldwide.
• Utility Bill Payment Facility: Pay electricity, telephone, mobile, and other utility bills easily using the Easy Bill Pay facility.
• Balance Transfer on EMI: Transfer outstanding balances from other banks' credit cards to your SimplySAVE UPI SBI Card to avail a lower interest rate and pay in EMIs. This service can be accessed via sbicard.com.
• Flexipay: Convert purchases of ₹2,500 or more into easy monthly installments. This can be done by logging into sbicard.com within 30 days of purchase.
• Order of Payment Settlement: All payments made for a cardholder account are settled in the following order: Minimum Amount Due (includes taxes, EMI on EMI based products, 5% of Total Outstanding), Fees & Other Charges, Interest charges, Balance Transfer Outstanding, Purchase Outstanding, and Cash Advance.
• Payment Methods for Bill Payment:
  • SBI Bill Desk (online).
  • NEFT payment from other bank accounts (using card number as account number and finding IFSC code online).
  • YONO app (register and link credit card).
  • Nearest SBI ATM (find the option to pay credit card bills).
  • Offline payment via cash or cheque at an SBI branch or ATM drop box. Cheques should be dropped at least a week before the due date. Cheques payable outside clearing zones are not accepted; only local cheques or drafts payable in Delhi are accepted.
• Card Activation & PIN Generation:
  • Generate PIN via a nearest SBI ATM using the OTP option.
  • Activate card/generate PIN through SBI Card Internet Banking account.
  • Contact customer care for assistance with PIN generation.
• Credit Limit: The credit limit varies for different cardholders based on past payment behavior and credit history and is not explicitly disclosed. For a higher limit, use the card responsibly for at least six months, then contact customer care or visit a branch, or send an SMS "INCR XXXX" (where XXXX is the last four digits of the card) to 5676791.
• Customer Assistance: For assistance, call SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290.
• Card Cancellation: To cancel or close the card, visit the closest SBI branch and fill out the physical form for account closure.