You will get complete information about SBI Credit Card Kya Hai in Hindi and all 6 cards of SBI in this article. It can be said that the bank allows the consumer to spend money on credit. In each SBI credit card, the bank also sets a limit for the consumer to spend credit money on the basis of his profession and monthly income.
Usually, the money spent by credit card has to be paid within the next 20 days from the end of each month. During this time period, the bank charges the least interest on the credit money from the consumer.
What are all credit cards
If the consumer does not pay the credit money by the bank within the time limit, then the bank adds additional interest and penalty charges on the total outstanding amount. As a result the interest rate increases to a great extent.
What is all credit card full details
SBI Credit Card is a plastic card. SBI Credit Card provides the facility of Offline & Online Shopping, Online Payment, EMI, Money Credit, etc. to the user. Through SBI Credit Card, the bank provides the facility of money credit to the consumer.
In this way, it can be said that SBI Credit Card is a boon as well as a curse for the consumers. Friends, in this article, we will know further about SBI Credit Card Kya Hai in Hindi and 6 types of SBI Credit Card.
Types Of SBI Credit Card
SBI Bank offers a variety of SBI Credit Cards to its customers. Consumers often get confused in choosing SBI credit card.
Keeping this in mind, we are going to tell you about some of the major credit cards issued by SBI. This information will be more and more beneficial for you.
Credit cards provided by SBI Bank based on the needs of the users are mainly kept in 6 categories. These 6 categories are as follows-
- Shopping Credit Card. Credit card for shopping.
- Rewards Credit Card. Rewards Credit Card.
- Fuel Credit Card. Fuel Credit Card.
- Lifestyle Credit Card. Lifestyle Credit Card.
- Travel Credit Card. Travel Credit Card.
- Banking Partnership Credit Card. Banking Partnership Credit Card.
Let us now understand all these 6 types of SBI Credit Cards in detail.
SBI Lifestyle Credit Card
1. Eligibility for SBI Credit Cards.
Any consumer is eligible for SBI Credit Card only after fulfilling the criteria set by the bank. The applicant has to fulfill the following eligibility conditions for SBI credit card-
- At least Rs. Monthly income up to 8500/-.
- Account with SBI Bank for credit card on account basis.
- Valid bank account.
- Age between 21 to 60 years.
- Good credit score.
- Indian citizenship.
- Identity card like driving license, pan card, voter ID or aadhar card, etc.
- Bank account statement of last 3 months.
- Last 3 months salary slip.
2. Bank Charges on SBI Credit Cards. credit card charges
Most of the banks charge Open Charges from the customers in lieu of credit card facility, but Hidden Charges are also taken from the consumers by the bank. The charges levied by the bank on credit cards are as follows-
- Annual Charges. annual charges
- Renewal Charges. renewal charges
- Cash Advance Charges. cash advance charges
- Cash Payment Charges. cash payment charges
- Tax Free Grese Period Charges. interest free grace period charges
- Charges After Deadline. Charges after the deadline
- Limit Overdraft Charges. Charges for exceeding the overdraft limit
- Late Payment Charges. late payment charges
- Service Charges on Outstation Check. Service Charges on Outstation Check
- Charges on Duplicate Statement. Charges for issue of duplicate statement
- Charges on Foreign Exchange. Charges on foreign currency transactions
- Railway Ticket & Petrol Purchasing Charge. Charges on Railway Ticket and Petrol Purchasing
- Additional 18% GST Charges. Apart from all this, 18 percent GST
Read more : How To Transfer Money From Mobile
SBI Credit Card Charges in Details
SBI credit card user has to pay many types of charges. If you have an account with the bank, these charges are deducted from your account itself. Let’s try to know some charges from a cursory glance- For more information you can check SBI Credit Card Charges in Hindi. SBI Credit Card Charges in 2021 can read this article
1. Annual Charges
The bank charges a substantial amount on the credit card as annual charges. This amount depends on the credit card being used by the consumer. It may be different from one bank to another.
2. Interest Free Credit Time Period
Free credit time period of 20 to 50 days is provided by banks on any credit card. This time period is applicable for retail purchases only.
The facility of interest free credit time period is given to those consumers by whom the credit card bills are paid on time.
3. Interest Rate
Generally, interest is charged from 3 to 3.30% per month on credit cards, but on annual transactions also interest is charged from the consumer at the rate of 40 to 40.50% per annum.
4. Cash Advance Limit
Cash advance limit up to 80% of the credit amount limit is provided to the credit card user. The cash advance limit can generally be up to a maximum limit of ₹ 12000/- per day.
5. Cash Advance Fees
The credit card provides the facility of online payment, but if the cash is withdrawn through the credit card by the user, then the bank charges the amount of fees up to 3.35% monthly under Cash Advance Fees.
For Cash Advance Fees, a fee is also charged from the credit card user at the rate of 40.2% per annum.
6. Cash Advance Fees From SBI or Other ATM
If cash is withdrawn from SBI ATM or any other domestic ATM by the customer from Credit Card, then the bank charges 2.5% Transaction Charges on that withdrawal as well. The minimum amount can be up to ₹ 300/-.
Precautionary Measures for Credit Card
1. Cash Withdrawal Policy
If the consumer has withdrawn cash from the ATM through his credit card, then he has to pay extra interest on this transaction. Therefore, withdrawing cash through credit cards should be avoided.
2. Minimum Payment
In case the consumer does not pay the bill on time, the minimum amount must be paid. By paying the minimum amount, the consumer can avoid Late Payment Charges.
3. Reward Points Redeem
Any credit card holder is given 2 to 3 years time to redeem the reward points.
These Reward Points cannot be redeemed after this time period. Therefore, the consumer should redeem the reward points on time.
The credit card holder is given an interest free period. During this time period, no charge is taken on any type of bill payment.
That is, during a certain time period, any SBI Credit Card user can transact his bill, on which no charge will have to be paid.
Benefits of SBI Credit Card
SBI Bank SBI Credit Card offers a wide range of benefits to the consumers. These benefits are applicable on almost all types of SBI credit cards, let us know-
- The facility of online shopping for more than the amount deposited in the account to the credit card user.
- In addition to the amount available in the account for online shopping, credit money facility from the bank.
- Ease of Credit Score Build up by timely repaying the amount used from the credit card.
- The possibility of getting a loan from the bank easily if the credit score is good.
- Facility to get reward point & cash back from credit card shopping.
- The more shopping you do with a credit card, the more likely you are to increase your reward point & cash back.
- To use the accumulated reward points again in the next shopping.
- The bank will not charge you anything for fraud on credit card shopping.
- Exemption from the annual charge is provided in many credit cards.
- SBI Credit Card and other credit cards provide the facility of EMI.
- A monthly bank statement is issued on shopping with a credit card, in which complete details of the shopping done by you are present.
Demerit of SBI Credit Card
Although credit cards have their own advantages, anything has its advantages and disadvantages. Let us know, what are the disadvantages of credit cards-
- Hidden Charges & Fees are levied on credit cards by most of the banks.
- Banks charge you a separate fee in case of late payment.
- The longer the time taken for payment, the more interest the bank charges you along with.
- The bank does not keep your payment information while making payment on the international website.
- Banks only keep data of transactions done by you within the country.
- Additional charges and interest are also charged by banks for spending more than the limit in shopping with credit cards.
- If the credit card bill is not paid within the time limit, interest is charged daily on the total amount of the bill, which keeps on increasing every day.
How to Control Hidden Charges of Credit Card
Often, in the name of service, unwanted hidden charges are taken by the banks from the people. Let us know, how these charges can be avoided-
1. Know All About Credit Card Before Applying
Before taking SBI Credit Card or any other bank’s credit card, complete details regarding the said credit card should be known. Under this it is necessary to know the following things-
- Get credit card information of various banks.
- Selecting a credit card that works for you.
- Be aware of all types of charges before taking a credit card.
- Thorough knowledge of the instructions and rules included with the card.
2. Beware While Shopping
While making a purchase, a credit card holder needs to take care of some special things, such as-
- Avoid buying unnecessary items.
- Timely payment of interest and charges contained in the bill.
- Understanding Monthly Statements closely.
- Compliance of additional charges with the bank.
- Avoid spending more than the credit card limit.
Documents for SBI Credit Card
Before applying for SBI Credit Card or any other bank credit card, you should mainly keep the necessary original documents and their photocopy with you. The documents required for credit card are as follows-
- Pan Card. pan card
- ID Proof like-Aadhar Card, Voter ID, etc. Identity Proof such as Aadhar Card, Voter Card, etc.
- Passport Photograph. passport photograph
- Income Tax Return Slip. income tax return slip
How to Apply for SBI Credit Card
Any consumer can apply for SBI credit card through two means. Both these methods are as follows-
- offline medium.
- online media.
To apply for a credit card through offline, you have to go to any bank branch, after that follow the following steps-
- Contact the credit card seller or agent in the bank.
- Understand all the plans related to credit cards thoroughly.
- Choose the right plan based on your requirement.
- Collect the application form for the credit card from the agent concerned.
- Fill the application form completely and attach photocopies and photographs of the required documents.
- Submit this filled application form to the bank.
After doing this, the consumer will get his credit card within a few days after fulfilling the terms and conditions set by the bank.
To apply for credit card through online medium, you have to first go to the onlinesbi.com site. After that follow the following steps-
- Click on SBI Card given on the home page.
- In front of you sbicard.com/en/reapply. The page will open up.
- A total of 33 chords will appear in front of you on this page.
- Select any one as per your convenience and click on Apply button.
- In the front open form, submit your name by filling residential city mobile number, E-mail ID etc.
- Your mobile number will receive OTP for verification, enter it.
- In the next step, you fill your complete professional details.
- In the third step, you have to fill the current residential address.
- At last submit the application form.
- Once the credit card request is approved by the customer, all the relevant documents have to be uploaded by visiting the web page.
Thus, after the completion of the process, the credit card can be taken at the concerned consumer’s home or through the bank.
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