State Bank of India (SBI) is the largest bank in India which makes sure that each and every product offered by them is uniquely beneficial for the customers. SBI credit cards are among the top credit cards in India and have won many hearts. SBI Unnati Credit Card has recently been launched by the bank wherein there is no annual fee for 4 years.
Yes, the annual fee has been waived off on SBI Unnati Card for first four years. So, if you have not yet got the ideal credit card for yourself, have a look at the features of SBI Credit Card (Unnati), fees and charges, and the eligibility.
Features of SBI Unnati Card
Reward Points– On this card, you get one reward point on a spend of ₹100 which can be redeemed against an exclusive range of gifts from the reward catalog.
Milestone Rewards- There is a cashback of ₹500 against the spending of ₹50,000 and more in 1 year.
Interest-free credit period– A credit period of 20-50 days can be granted to individuals on their retail purchases within which there will be no interest charged. This interest-free period will also depend upon the payment of the outstanding balances of previous months.
Fuel Surcharge Waiver– You get 2.5% fuel surcharge waiver for each of transactions worth between ₹500-3,000 wherein the range does not involve GST, wherever applicable, along with other charges.
Pay Utility Bills– You can use SBI Unnati Credit Card to pay your electricity bill, mobile or telephone bill as per your comfort level.
Balance Transfer on EMI– There is a facility of balance transfer the outstanding balance of other bank credit card to SBI Unnati Credit card. This facility gives you the opportunity to save a lot as there is a lower interest rate to repay the EMIs. Having said that, you get the interest rate option of 0.50% for 3 months and 0.75% for 6 months can be availed for a BT to Unnati. Also, if you want to pre-close the balance transfer (BT) facility, a fee of 3% fee would be deducted from your account. In addition to this, if you transfer the balance from a Visa credit card to Unnati, then the amount of BT will get transferred within three working days. For this, you will get a cheque specifying the BT amount within five working days if the transfer is made from a credit card other than Visa.
Massive Acceptance– You can use this card in more than 24 million outlets worldwide, including 3,25,000 in India. In addition to this, you can also make payment at outlets that accept Visa or Master cards.
Cash Withdrawal Facility– You can withdraw cash from more than 1 million Visa or MasterCard ATMs worldwide and up to 80% of the credit limit. The maximum withdrawal limit under this card is ₹12,000 per day.
Fees & Charges on SBI Unnati Credit Card
The fees and charges on Unnati credit card are as follows:
- No annual fee for first 4 years
- From 5th year, a renewal fee of ₹499 would be charged
- No annual add-on fee
- Finance charges on both credit limit and cash advance amount to up to 2.5% per month, totaling to 30% in a year
- Minimum amount due-5% of total outstanding (Minimum of ₹200, plus applicable taxes, EMI (On EMI Product) and OVL
- Cash advance fee at 2.5% of the transaction amount, with a minimum of ₹300, on withdrawal of cash from SBI and other ATMs, will be charged. On withdrawal from international ATMs, a 3% of the transaction amount will be charged. Here also, the minimum fee is ₹300
- On due amount up to ₹200, there are no late payment charges. These charges range from 100-750 on a due amount of ₹200-10,000.
- Overlimit charges are calculated at 2.5% of the overlimit amount, subject to a minimum limit of ₹500.
- Cash payment fee amounts to ₹500
- Rewards redemption fee-₹99
- Card replacement fee-₹100
SBI Credit Card Eligibility (Unnati)
Just like any other card, SBI Unnati Card is also offered on the basis of the eligibility criterion. Having said that, any individual with a minimum fixed deposit of ₹25,000 can apply for SBI Unnati credit card. However, it is also important to note that the card will be issued to him even if he does not have a credit history. Hence, this card can be taken in a much smoother way and can be availed without any hassle.
How to Get SBI Unnati Credit Credit Card
As you can see there are so many attractive features on this credit card, everyone would want to apply for this card. So, if you want to apply for SBI credit cards online (Unnati), you can go to the bank’s official website. Once you have matched the eligibility criterion for Unnati Credit Card, you can get it delivered in just a few days.