Getting a credit card in your hand requires no more effort these days but when State Bank of India covers up more of its customers under the digital space, brings out this new facility of offering a credit card that fulfills the people’s instant financial needs. SBI Unnati Credit is one such credit card which is all about these provisions. Even a person with no previous credit history can apply for this credit card which will be offered free from any annual fee for first four years.
Just by maintaining a minimum account balance of ₹ 25,000 in your SBI savings bank account; an SBI Unnati Credit Card will be offered at your doorstep.
With the launch of this card, SBI looks to make the application process simpler as ever before, thereby, making it possible for the convenience of the common man. Only KYC documents attached with your application form is sufficient for your application to get approved towards SBI Unnati Credit card. Now, a common man will get rid of endless documentation processes for getting a credit card as SBI Unnati card will cover them up under the wraps of SBI Unnati Credit Card.
SBI Unnati Credit Card Eligibility
A regular customer of SBI who maintains a minimum balance of ₹ 25,000 is eligible to apply for SBI Unnati Credit Card.
SBI Unnati Credit Card Features
- The users of SBI Unnati Credit Card can avail ₹ 500 cashback on spends of ₹ 50,000 or more in a year.
- The users can obtain one reward point per ₹ 100 spent on the card.
- Users can use their SBI Unnati Credit Card across 24 million outlets throughout the world, including 3,25,000 outlets in India.
- The payments can be made through SBI Unnati Credit Card at any outlet that accepts Visa or MasterCard.
- The users can encourage their family to access add-on cards which include usage by their parents, spouse, children or siblings over the age of 18.
- The users can withdraw cash from over one million Visa or MasterCard ATMs across the world.
- The payment for their electricity, telephone, mobile and other utility bills can be made by using the Easy Bill Pay facility on SBI Unnati Credit Card.
- The transfer of outstanding balance of other banks’ credit cards can be made to SBI Unnati Credit Card and obtain a lower interest rate and pay back in equated monthly installments(EMIs).
- The users of SBI Unnati Credit card can use the option like Flexipay for converting their transactions into easy monthly installments. They can also make purchases worth ₹ 2,500 or more using their SBI Unnati Credit Card and log in with their username and password on SBI Card website within 30 days of purchase in order to convert it into Flexipay.
- With an Easy Money option, users can obtain a draft or a cheque against their cash limit and obtain a delivery at their doorstep.
SBI Unnati Credit Card Charges
1. Extended Credit
- For retail purchases, you will be getting 20 to 50 days interest fee credit period and such periods will be applicable only, if you have paid off your previous months’ outstanding balance.
- The service charges would be applicable upto 2.50% per month which amounts to 30.0% per annum from the transaction. These charges are classified as finance charges.
- Under the minimum amount due, SBI Unnati Credit Card offers 5 % of the total outstanding (minimum ₹ 200 +all applicable taxes+EMI(in case of EMI based product)+overlimit amount(if any)).
2. Cash Advance Limit
- It provides up to 80% of credit limit with a maximum of ₹ 12,000 per day
- On withdrawing cash, 2.50% per month would be a chargeable amount, accounting to 30.0% per annum from the withdrawal date.
3. Cash Advance Fees
- 2.5% of the transaction amount is charged on SBI ATMs or other bank ATMs, subject to a minimum of ₹ 300.
- 3% of transaction amount is charged for using international ATMs, subject to a minimum of ₹ 300.
4. Other Charges
- ₹ 90 will be charges for cheque pick up for SBI Unnati Credit Card.
- 2% of the payment amount will be charged as a payment dishonour fees, subject to a minimum of ₹ 350.
- ₹ 100 per statement will be the charges which are two or three months old for retrieving your statements for SBI Unnati Credit Card.
- ₹ 225 per retrieval of the slip will be charged for SBI Unnati Credit Card.
5. Card Replacement
- ₹ 100 is charged for replacement of SBI Unnati Credit Card.