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

Introduction

The SBI SimplySAVE UPI Rupay Credit Card, issued by SBI Card, is positioned as an entry-level credit card designed for individuals new to credit, focusing on everyday savings. It offers a welcome benefit of 2,000 bonus reward points and accelerated 10X reward points on dining, movies, grocery, and departmental store purchases. A key differentiating feature is its RuPay network compatibility, allowing it to be linked to UPI applications. The card also provides an annual fee waiver on achieving a specified spend milestone.

Welcome Benefits

• 2,000 bonus Reward Points worth Rs. 500 on spending Rs. 2,000 or more within the first 60 days of card activation.

Fees

• Joining Fee: Rs. 499 + GST/taxes
• Renewal Fee: Rs. 499 + GST/taxes, applicable from the second year onwards.
• Spend-Based Waiver: The annual renewal fee can be waived by spending Rs. 1 lakh or more in the preceding card anniversary year.
• Rewards Redemption Fee: Rs. 99 + GST.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% per month (equivalent to 45% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps across India. This waiver is capped at a maximum of Rs. 100 per statement cycle, per credit card account.
• Cash Advance Charges: 2.5% of the amount withdrawn, subject to a minimum of Rs. 500, whichever is higher.
• Add-on Card Fee: Nil.

Rewards

• Reward Type: Reward Points.
• Accelerated Rewards: Earn 10X Reward Points (10 Points per Rs. 150 spent) on dining, movies, grocery categories, and departmental stores. This translates to a reward rate of 1.7%.
• Accelerated Rewards Cap: You can earn up to 5,000 accelerated points in a month; after reaching this cap, the normal reward rate shall be applicable.
• Standard Rewards: Earn 1 Reward Point for every Rs. 150 spent on all other purchases, which is a reward rate of 0.17%.
• Exclusions: No Reward Points shall be awarded for rent, government, and fuel transactions.

Rewards Redemption Guide

• Reward Points earned can be redeemed for gift vouchers, against the card’s outstanding statement balance, or for products from the rewards catalogue.
• Redemption can be done by logging in to the SBI Card website or via the SBI mobile app for gift vouchers and products.
• To redeem against the card’s outstanding amount, use Internet banking.
• The value of 1 Reward Point is Rs. 0.25, meaning 4 Reward Points equal Re. 1.
• Reward redemptions are subject to a charge of Rs. 99 + GST.

Card Eligibility Criteria

• Salaried Individuals:
  • Age: 18 years – 65 years
  • Income: Rs. 20,000 per month
• Self-employed Individuals:
  • Age: 21 years – 65 years
  • Income: Rs. 20,000 per month (as per ITR)

Card Review

• Overall Verdict: The SBI SimplySAVE UPI Rupay Credit Card is considered a well-suited card for first-time cardholders due to its nominal annual fee of Rs. 499 and attractive shopping benefits. It provides accelerated Reward Points on movie, dining, grocery, and departmental store spends, making it ideal for individuals focused on everyday savings and offline purchases.
• Pros:
  • Low joining fee of Rs. 499.
  • Offers significant reward points on essential everyday spending categories.
  • Available on the RuPay network, allowing linkage with UPI applications.
• Cons:
  • Does not provide international or domestic airport lounge access.
  • Lacks insurance benefits.
  • A fee of Rs. 99 + GST is charged for reward redemptions.
  • May be less suitable for individuals who primarily prefer online shopping, as other cards might offer better benefits for such spends.

Important Product Details

• Receive 2,000 bonus Reward Points worth Rs. 500 on spending Rs. 2,000 within the first 60 days of card activation.
• Earn 10X Reward Points (10 Points per Rs. 150) on spends across movies, dining, grocery, and departmental stores.
• Earn 1 Reward Point for every Rs. 150 spent on all other categories.
• The annual renewal fee is reversed upon achieving a minimum expenditure of Rs. 1 lakh in the preceding year.
• Benefit from a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000, with a monthly cap of Rs. 100.
• The card is RuPay network enabled, allowing seamless integration with UPI applications.
• Add-on SimplySAVE Credit Cards are available at no additional cost for eligible family members (parents, spouse, children, or siblings above 18 years of age).
• Features contactless payment technology for quick and secure "Tap & Pay" transactions.
• Globally accepted at over 24 million outlets, including 3,25,000 in India, wherever Visa/MasterCard is accepted.
• Allows cash withdrawals from over 1 million Visa or MasterCard ATMs worldwide.
• Offers Flexipay EMI option to convert eligible purchases of Rs. 2,500 or more into easy monthly installments.
• Provides an Easy Bill Pay facility for convenient payment of utility bills (electricity, telephone, mobile, etc.).
• Includes a Balance Transfer on EMI facility, enabling transfer of outstanding balances from other bank credit cards to the SimplySAVE SBI Card at a lower interest rate.
• No reward points are awarded for rent, government, and fuel transactions.
• The card does not offer any domestic or international lounge access.
• There are no insurance benefits associated with this card.
• A fee of Rs. 99 + GST is applicable for reward redemptions.

Other Details

• UPI Enabled: The SBI SimplySAVE Credit Card, being on the RuPay network, can be linked to popular UPI applications such as Google Pay, PhonePe, and Paytm for convenient payments.
• Add-On Cards: You can avail add-on SimplySAVE Credit Cards for your parents, spouse, children, or siblings above the age of 18 at no additional cost.
• Contactless Advantage: The card offers a contactless "Tap & Pay" feature for effortless everyday payments. It's fast, convenient, and secure, as your card remains in your hand, reducing fraud risk. Visa PayWave's unique security key ensures only one transaction is processed even if the card is tapped multiple times.
• Global Acceptance: The card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever Visa or MasterCard is accepted.
• Cash Access Across the World: Cardholders can withdraw cash from over 1 million Visa or MasterCard ATMs across the globe.
• Flexipay EMI: Eligible purchases of Rs. 2,500 or more can be converted into easy monthly EMIs.
• Utility Bill Payment Facility: The Easy Bill Pay facility allows cardholders to pay electricity, telephone, mobile, and other utility bills conveniently.
• Balance Transfer on EMI: You can transfer outstanding balances from other banks’ credit cards to your SimplySAVE SBI Card at a lower interest rate and repay them in easy EMIs. This facility can be availed by logging into your account.
• How to Apply: Applications can be submitted online via the SBI Card website, through the Chatbot ILA, or by clicking the "Apply Now" button. Offline applications can be made by visiting the nearest SBI branch. Assistance is also available through SBI Card customer care.
• Card Activation & PIN Generation: The card PIN can be generated via an SBI ATM using an OTP, through SBI Card Internet Banking, or by contacting customer care for assistance.
• Credit Limit: The credit limit for the SimplySAVE SBI Card is not publicly disclosed and varies for each cardholder based on their past payment behavior and credit history. If the initial limit is insufficient, it can be increased by contacting customer care or visiting a branch after responsible card usage for at least six months. An SMS "INCR XXXX" (where XXXX are the last four digits of your card) can also be sent to 5676791.
• SBI SimplySAVE Credit Card Bill Payment: Various methods are available for bill payment:
  • Through the SBI bill desk by entering card details, mobile number, email address, and amount.
  • Via NEFT, using the SBI SimplySAVE Card number as the account number and finding the IFSC code online.
  • Using the YONO app of SBI after registering and linking the credit card.
  • At the nearest SBI ATM by selecting the credit card bill payment option.
  • Offline payments can be made at any SBI branch via cash or cheque, or by dropping a cheque at an ATM dropbox (recommended at least a week before the due date for processing).
• How to Cancel/Close: To cancel or close the SBI SimplySAVE card, visit your closest SBI branch and fill out the physical account closure form.
• Legal Information: For comprehensive details regarding fees, charges, and other terms, cardholders should refer to the Most Important Terms & Conditions, Digital Membership Kit, Order of Payment Settlement, and other Terms & Conditions documents provided by SBI Card.