State Bank of India (SBI) is the largest public sector bank in India which has lately been in news for many things. The bank has recently set a minimum balance limit for its savings account, merged with five of its associate banks namely State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH), State Bank of Travancore (SBT) and State Bank of Bikaner and Jaipur (SBBJ).
This merger is taken as a major step by the bank which will make SBI-one of the most powerful fund providers in the whole world. Not only this, the bank has also introduced a new credit card names SBI Unnati Credit Card.
SBI Unnati Card has no annual fee for 4 years and has many unique features that end up giving you the card you need instead of the one that is just there in the market. So, have a look at the features of this new SBI credit card and also the process for SBI credit card apply online.
Features of SBI Unnati Card
Reward Points– You get one reward point on a spend of ₹100 via this credit card. These points can be redeemed against an exclusive range of gifts from the reward catalog.
Milestone Rewards– You can receive a cashback of ₹500 against the spending of ₹50,000 and more in a year.
Interest-free credit period- An interest-free credit period of 20-50 days can be granted to individuals on their retail purchases. The interest-free period will also depend upon the payment of the outstanding balances of previous months.
Fuel Surcharge Waiver- The card comes with a 2.5% fuel surcharge waiver for each of transactions worth between ₹500-3,000. The said range does not involve GST, wherever applicable, along with other charges.
Payment of Utility Bills– Don’t have the cash to pay off your mounting electricity, mobile or telephone bills? Use Unnati card and pay all your utility bills seamlessly.
Balance Transfer on EMI- You can save a lot of money and transfer the outstanding balance of other bank credit card to SBI Unnati Credit card and avail the facility at a lower interest rate to repay the EMIs. The interest rate option of 0.50% for 3 months and 0.75% for 6 months can be availed by the customers looking for a BT to Unnati. If you want to pre-close the balance transfer (BT) facility, a fee of 3% fee would be deducted from your account. If you transfer the balance from a Visa credit card to Unnati, then the amount of BT will get transferred within three working days. 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-The card can be used in more than 24 million outlets worldwide, including 3,25,000 in India. You can make payment at outlets that accept Visa or Master cards.
Cash Withdrawal Facility–You can use the card to withdraw the cash from more than 1 million Visa or MasterCard ATMs worldwide. You can withdraw cash upto 80% of the credit limit. A maximum withdrawal of ₹12,000 per day can be granted
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)
Any individual with a minimum fixed deposit of ₹25,000 can apply for SBI Unnati credit card and get that issued to him even if he does not have a credit history.
How to Get SBI Unnati Credit Credit Card
With so many attractive features, who would want to apply for this unique credit card? Well, if you want to apply for SBI credit card online and make this Unnati Credit Card yours, go to the website and follow the steps. The process is simple and quick so it is now the time for you to make this credit card your own!