Consumers should note that SBI SimplySAVE is an entry-level card. While it is comparatively easy to get approved for this card, it offers a lower value-back in comparison to some cashback cards and mid-range cards that offer category-focused benefits. Before choosing, you must check the cards that you may be eligible for and select the one that could offer the highest value-back on your preferred spending categories.
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SBI SimplySAVE Credit Card
Dining
Reward Points
1st Year Fee: ₹499* Plus Applicable Taxes
Reward Points
10X rewards on dining, movies & grocery
Entry-level
Low annual fee & easy approval
Welcome Benefit
2,000 Bonus Reward Points worth Rs. 500
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About SBI SimplySAVE Credit Card
SBI SimplySAVE Credit Card is one of the most popular entry-level credit cards from the issuer. Consumers can get accelerated rewards on some everyday spend categories like grocery and departmental store spends, dining and movies. Those who regularly spend a considerable amount on these categories can easily accumulate substantial reward points, which can later be redeemed against vouchers.
SBI SimplySAVE Credit Card Rewards Program
With SimplySAVE, you can earn up to 10X reward points on your purchases at selected categories. Below mentioned are the details of its rewards program:
- 10 reward points on every Rs. 150 spent on dining, movies, grocery and departmental store purchases
- 1 reward point per Rs. 150 spent on other categories1
- 4 reward points = Rs. 1
So, if you spend Rs. 3,000 on grocery purchase, you will earn 200 reward points, which will be equal to Rs. 50. However, if you spend the same amount on travel, base rate will be applicable. This means on Rs. 3,000, you will earn 20 reward points, which will only amount to Rs. 5.
Hence, cardholders who primarily use SimplySAVE for groceries, dining and movie spends will be able to maximize the benefits.
Other Features & Benefits
SBI SimplySAVE Credit Card also offers other benefits, such as bonus reward points, fuel surcharge waiver and annual fee waiver. Here are all the details regarding the same:
Welcome Benefit: 2,000 reward points on spending Rs. 2,000 within 60 days of credit card issuance.
Fuel Surcharge Waiver: 1% fuel surcharge waiver on your transactions between Rs. 500 to Rs. 3,000 at any petrol pump in India. You can avail a maximum waiver of Rs. 100 per statement cycle.
Annual Fee Reversal: Annual membership fee reversal from the second year on spending Rs. 1 lakh in the previous year.
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₹499 Plus Applicable Taxes
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SBI SimplySAVE Credit Card Fees and Charges
| Fee Type | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 499 | ||||||||||||||
| Annual Fee | Rs. 499 | ||||||||||||||
| Finance Charges | 3.50% p.m. | 42% p.a. | ||||||||||||||
| Late Payment Charges |
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Things to Know Before you apply
Get this card if:
You frequently make grocery and departmental store purchases
You want to earn reward points on your transactions
You can spend Rs. 1 lakh in a year
You do not want to pay a high annual fee
Eligibility Criteria
Age: 21 to 70 years
Occupation: Salaried or Self-employed
Documents Required: PAN, Aadhaar or any other government approved photo ID and address proof, along with last 3-month’s salary slip or bank statement as proof of income
Paisabazaar Review
What do we like about this card?
SBI Simply SAVE Credit Card is a good option for people who are looking for a basic card with a low annual fee. The card comes with an annual fee of Rs. 499, which can be reversed on spending Rs. 1 lakh in a year, which is an easily achievable number for most users. The card covers quite practical everyday spending categories like grocery and dining. SimplySAVE can also be a worthy upgrade for someone with a basic credit card without accelerated earnings on select categories.
Pros
- 10X reward points on dining, movies, grocery and departmental store spends
- Entry-level credit card with low annual fee and easier eligibility terms
- Annual fee waiver condition of Rs. 1 Lakh in a year
Cons
- Reward redemption options are limited to select brand vouchers only
- No significant benefits other than the rewards program
- Low reward rate as compared to some entry-level cashback cards
Conclusion
While SBI SimplySAVE Credit Card is a decent entry-level card, its reward rate is lower in comparison to several entry-level cashback cards like YES Bank Paisabazaar PaisaSave Credit Card or Amazon Pay ICICI Credit Card. With YES Bank Paisabazaar PaisaSave Credit Card, consumers can get 5% cashback on all online spends without any merchant restrictions, whereas the Amazon Pay ICICI Credit Card offers up to 5% cashback on Amazon spends. Those who are eligible for better cards and are ready to pay a higher annual fee in exchange for better benefits should explore more mid-range and premium cards.
Frequently Asked Questions
Everything you need to know about this credit card
You can apply for SBI SimplySAVE Credit Card through Paisabazaar. Enter your mobile number and other required information to check eligibility for this card and proceed to fill out a detailed application form, if eligible.
You can redeem SBI Credit Card reward points through online and offline modes. To redeem your reward points online, you can download the SBI Card mobile app or visit the internet banking portal of the bank. Apart from this, you can also call on the customer care number and the executive will help you with the redemption process.
No, you can avail fuel surcharge waiver on your transactions between Rs. 500 to Rs 3,000 across any petrol pump in India. Also, you can avail a maximum waiver of Rs. 100 per statement cycle.
Yes, the bank charges a cash advance fee of 2.5% of the withdrawn amount or a minimum of Rs. 500 for withdrawing cash via credit card. Therefore, it is advisable not to withdraw cash through a credit card as it comes with higher charges and can also negatively impact your credit score.
The interest-free credit period offered on SBI SimplySAVE Credit Card ranges from 20 to 50 days, depending on claims submitted by the merchant.
You can pay your credit card bill through online as well as offline methods. The online payment options include NEFT, electronic bill payment, National Automated Clearing House (NACH), Visa credit card pay, pay via debit card etc. You can pay the credit card bill offline by cash, cheque, demand draft and SBI ATM.
No, SBI SimplySAVE Credit Card does not offer any airport lounge access facility to the cardholders.
The current finance charges are up to 3.50% p.m i.e 42% annually. The charges are applicable from the transaction date and are subject to change as per the discretion of SBI Card.
Both total credit limit and available credit limit can be seen via the SBI Card app and on your monthly credit card statement.
Footnotes
- Reward points will not be accrued on fuel, rent payment, wallet reload, government transactions and cash advances.
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Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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