SBI Unnati Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI Unnati Credit Card is a secured credit card offered by SBI Card, positioned as an entry-level option for individuals looking to build their credit history. It is issued against a Fixed-term deposit of Rs 25,000 or above with the State Bank of India. Key differentiating benefits include an annual fee waiver for the first four years, a Rs 500 cashback on annual spends of Rs 50,000, and a consistent reward rate of 1 reward point for every Rs 100 spent. This card is designed to empower users to embrace digital payments and go completely cashless.

Welcome Benefits

• No specific welcome benefits are offered with this card.

Fees

• Joining Fee: Nil
• Annual Fee: Nil for the first four years from the date of card issuance. The annual fee of Rs. 499 + taxes is waived off for the first four years.
• Renewal Fee: Rs. 499 + taxes from the 5th year onwards.
• Spend-Based Waiver: The annual fee is waived for the first four years.
• Rewards Redemption Fee: Rs 99 per redemption request.
• Foreign Currency Markup: 3.5% on the conversion amount.
• Interest Rates: 3.5% per month (equivalent to 42% per annum).
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps across India. A maximum waiver of Rs. 100 is applicable per statement cycle.
• Cash Advance Charges: 2.5% on the amount withdrawn, subject to a minimum charge of Rs. 500.

Rewards

• Earn 1 Reward Point for every Rs. 100 spent on all categories.
• Milestone Benefit: Get Rs. 500 cashback on annual spends of Rs. 50,000 or more within a year. The cashback is provided within 15 days of reaching the milestone.
• Reward Points are not earned on Cash Advance, Balance Transfer, Flexipay, and Fuel transactions.

Rewards Redemption Guide

• Reward points earned using the SBI Unnati Credit Card are redeemable against a wide array of gifts and benefits available in the SBI Card rewards catalog.
• The redemption value is 1 Reward Point = Rs 0.25.

Card Eligibility Criteria

• The SBI Unnati Credit Card is issued against a lien on the cardholder’s SBI fixed deposit of Rs. 25,000 or more.
• How to Apply:
  • You can apply for an SBI Unnati Credit Card by visiting your nearest SBI branch and filling out the application form.
  • You can also apply online by visiting the SBI Card website (sbicard.com) or by interacting with the Chatbot ILA.
  • Alternatively, you can call the SBI Card Helpline at 39 02 02 02 (prefix your city STD code).

Card Review

The SBI Unnati Credit Card is a basic secured credit card, making it an excellent choice for individuals who are new to credit or wish to build their credit history. It is particularly well-suited for those who frequently make utility bill payments, EMI transactions, or other essential expenditures using a credit card. The card's appeal is further enhanced by the waiver of its annual fee for the first four years, positioning it as a zero-fee option during this period. It empowers users to transition to a completely cashless payment system.

Important Product Details

• Zero Annual Charges: The card offers no annual fee for the first four years from the date of card issuance.
• Reward Points: Earn 1 Reward Point for every Rs. 100 spent on all eligible transactions.
• Milestone Cashback: Receive Rs. 500 cashback upon achieving annual spending of Rs. 50,000 or more.
• Fuel Surcharge Waiver: A 1% waiver is applicable on fuel transactions between Rs. 500 and Rs. 3,000, with a maximum waiver of Rs. 100 per statement cycle.
• Contactless Advantage: Features Tap & Pay functionality for fast, convenient, and secure everyday payments using Visa PayWave technology.
• 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.
• Worldwide Cash Access: 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.
• Add-on Cards: Facility to issue add-on cards for family members including parents, spouse, children, or siblings above the age of 18.
• Easy Bill Pay Facility: Conveniently pay electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to your SBI Unnati Credit Card at a lower interest rate and repay in easy EMIs.

Other Details

• The card offers an interest-free period of up to 20 to 50 days.
• Some user feedback suggests that the card might have been discontinued, despite application methods being available on the official SBI Card website.
• For comprehensive information regarding fees and other applicable charges, cardholders should refer to the Most Important Terms & Conditions (MITC) document.