State Bank of India (SBI) is the largest and most trusted bank of India. Even in credit cards, customers prefer a SBI card as compared to others and there are many reasons behind the same.
One of the main reasons is that the reward points that you get on a SBI card can be used as money. That is, the reward points are just like money and 1 Reward point is equal to ₹0.25. Also, with SBI unnati credit card where there is no annual fee for first 4 years, people are so eager to own it.
Here are all the attractive features that make this card unique and also you can check the fees & charges associated with this card.
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
- 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
Eligibility Criteria for SBI Unnati Card
Just like any other credit card, there is a special eligibility criteria required for the Unnati Credit Card. If a person want to enjoy the privileges of this SBI credit card, he has to have a minimum fixed deposit of ₹25,000. It is also important to note that if an individual matches this criterion, his credit history will not be considered. So, apply now for this flexible credit card and enjoy shopping without paying any annual fee!