SBI SimplySAVE Rupay UPI Credit Card Review
- Updated on
- July 20, 2024
- By
- Card Review
SBI SimplySAVE UPI Rupay Credit Card Review: It is an excellent choice for newcomers in the credit card arena, requiring a nominal annual fee of Rs. 499 and offering a welcome bonus of 2000 reward points. It provides accelerated reward points on grocery shopping, movies, and purchases at departmental stores, catering perfectly to individuals looking to save on daily essentials. Moreover, this card can be seamlessly integrated with UPI applications.
In addition to its rewards program, the card offers an annual fee waiver upon spending Rs. 1 lakh or more, effectively nullifying any annual charges. While it lacks extensive travel, dining, or entertainment perks typically found in higher-tier cards, the SBI SimplySAVE card is tailored for beginners entering the world of credit cards.
For more details on its features, benefits, and associated fees, delve deeper into what the SBI SimplySAVE card has to offer.
SBI SimplySAVE Rupay UPI Credit Card Review
Card Details
- Upon spending Rs. 2,000 within the first 60 days of card activation, receive 2,000 bonus Reward Points valued at Rs. 500.
- Earn 1 Reward Point for every Rs. 150 spent.
- Enjoy 10 times Reward Points (10 Points per Rs. 150) on purchases in categories like movies, dining, groceries, and departmental stores.
- The annual renewal fee is waived upon spending at least Rs. 1 lakh in the previous year.
- Receive a waiver on 1% fuel surcharge on transactions.
Rewards & Benefits
Movies and Dining:
Earn 10 times Reward Points on movie and dining expenditures.
Redeeming Rewards:
Exchange accumulated points for gift vouchers via sbicard.com or the SBI mobile app. Alternatively, use points to settle outstanding balances (1 Reward Point = Rs. 0.25).
Domestic Lounge Access:
Not applicable.
Golf Benefits:
Not applicable.
Rewards Earning:
Accrue 1 Reward Point for every Rs. 150 spent (reward rate = 0.25%). Earn 10 times Reward Points on purchases made at movies, grocery, dining, and departmental stores (reward rate = 2.5%).
Travel Benefits:
Not applicable.
International Lounge Access:
Not applicable.
Insurance Coverage:
Not applicable.
Fees & Charges
Redemption Fee for Rewards:
There is a charge of Rs. 99 (plus applicable taxes) per request for redeeming rewards
Fuel Surcharge:
Enjoy a waiver of 1% fuel surcharge on transactions ranging from Rs. 500 to Rs. 3,000, capped at Rs. 100 per month.
Foreign Currency Transaction Fee:
A fee of 3.5% of the transaction amount is applicable for foreign currency transactions.
Cash Advance Charges:
Cash advances incur a fee of 2.5% of the amount withdrawn or Rs. 500, whichever is higher.
Waiver Based on Spending:
You can avoid the renewal fee by spending Rs. 1 lakh within a year from the card anniversary.
Interest Rates:
The monthly interest rate is 3.50%, which equates to an annual rate of 42%.
Pros & Cons
Advantages:
This card offers a budget-friendly joining fee of Rs. 499.
Earn generous reward points on your expenditures with this card.
Disadvantages:
No access to international or domestic lounges.
No insurance benefits are provided with this card.
A fee of Rs. 99 is applicable for reward redemptions.
SBI Simply SAVE RuPay Credit Card Features & Benefits
- Earn 10 times Reward Points for every Rs. 150 spent on dining, departmental stores, movies, and grocery shopping (equivalent to a 2.5% reward rate).
- For other purchases, earn 1 Reward Point per Rs. 150 spent (0.25% reward rate).
Reward Points Redemption:
- Redeem Reward Points from your SimplySave card for categories like shopping and gift vouchers.
- Offset your card balance using accumulated Reward Points.
- Each Reward Point holds a value of Rs. 0.25, making 4 Reward Points equivalent to Re. 1.
SBI SimplySAVE Credit Card Fees & Charges
Before applying for a credit card, it’s crucial to understand its associated charges beyond just the annual fee. Here are the fees applicable to the SBI SimplySave Card:
- Joining & Annual Fee: Rs. 499 + GST
- Interest Rates: 3.5% per month (42% annually)
- Cash Advance Fee: 2.5% of the amount withdrawn, with a minimum of Rs. 500
- Foreign Currency Mark-up: 3.5% of the transaction amount
SBI SimplySAVE Credit Card Eligibility Criteria
Obtaining a credit card involves meeting specific eligibility criteria set by banks or card issuers, which varies for each card. Factors such as age, income, and credit history significantly impact approval. Before applying for the Simply SAVE SBI Card, ensure you meet the following eligibility criteria:
| Criteria | Age | Income |
|---|---|---|
| Salaried | 18 years – 65 years | Rs. 20,000 per month |
| Self-employed | 21 years – 65 years | Rs. 20,000 per month (as per ITR) |
How to Apply for SBI SimplySAVE RuPay UPI Card?
You have two options to apply for the Simply Save Card: offline or online. For offline application, visit your nearest SBI branch, request a physical application form from branch executives, fill it out carefully, and submit it. To apply online via SBI Card’s official credit card application page where you need to enter your details and submit your application.
For assistance with applying for the SBI SimplySave Card, contact SBI Card customer care for support.
SBI SimplySave Credit Card Activation & PIN Generation
To set your SimplySave SBI Card PIN, visit the nearest SBI ATM and select the option to generate a PIN using OTP from the main menu. Alternatively, use Internet Banking: log in or sign up to your SBI Card account and navigate to the credit card activation/PIN generation section. For assistance, contact customer care and request help with PIN generation.
SBI SimplySAVE Credit Card Limit
SBI Card does not disclose specific credit limits for the Simply Save Credit Card, as they vary based on individual payment history and credit profiles. Your assigned limit could be lower or higher than anticipated. If you find your current limit insufficient, contact customer care or visit a branch to request an increase. It’s advisable to demonstrate responsible card usage for at least six months before requesting a higher limit, as this builds trust with your issuer. You can also send an SMS with “INCR XXXX” to 5676791 (XXXX being the last four digits of your card) to explore limit increase options.
SBI SimplySAVE Credit Card Bill Payment
Ensuring timely payment of your SimplySave SBI Card statement is crucial when using a credit card. Here are various methods to make your bill payments:
- Use the SBI Bill Desk for quick transactions by entering your card details, mobile number, email, and payment amount.
- Pay via NEFT from another bank account by using your SBI SimplySave Card number as the account number and finding the IFSC code online.
- Utilize the YONO app to register and link your card for easy payments.
- Visit a nearby SBI ATM to pay your bill; select the option from the main menu and complete the transaction with necessary details.
- For offline options, visit an SBI branch to pay by cash or cheque, or drop a cheque at your branch’s ATM dropbox. Ensure payment is made at least a week before the due date to allow for processing time.
SBI SimplySave RuPay UPI Credit Card Review
The SimplySAVE SBI Card, with its modest annual fee of Rs. 499, offers excellent shopping benefits, making it ideal for first-time cardholders. In addition to shopping, it provides accelerated Reward Points on dining and movie expenditures. However, if online shopping is your preference, consider the SBI SimplyCLICK Credit Card instead. Analyze your spending patterns to determine if this card aligns with your needs. For newcomers seeking a basic card with rewards, the SimplySAVE SBI Card is a solid choice.
We’ve reviewed the features of the SBI Simply Save Credit Card. Share your thoughts on this entry-level shopping card in the comments. If you’ve used the Simply Save card, we’d love to hear about your experience.
SBI SimplySave RuPay Credit Card FAQ
Earn accelerated Reward Points on dining, movies, groceries, and departmental store purchases.
Enjoy a waiver on fuel surcharge and annual fee upon meeting spending thresholds.
You can apply online through the SBI Card website or visit the nearest SBI branch for offline application.
The annual fee is Rs. 499 plus applicable taxes.
Yes, you can check your Reward Points balance through the SBI Card website or mobile app.
Redeem your Reward Points for a variety of options including shopping vouchers, gift cards, and statement credit.
Yes, applicants must meet the minimum income criteria specified by the SBI Card.
The foreign currency markup fee is 3.5% of the transaction amount.
You can reach SBI Card customer service through their helpline or visit an SBI branch for support.
Yes, a grace period is provided for bill payments, typically ranging from 20 to 50 days depending on the billing cycle.
Enjoy exclusive offers on dining, shopping, and entertainment with partner merchants.
Avail of insurance coverage and access to SBI Card's 24x7 customer support services.