INDEPENDENT PUBLIC DIRECTORY: Eligo does not issue credit cards, collect customer applications, or earn affiliate referral commissions. All terms, fees, and interest charges below are sourced directly from the official sbicard.com (SBI Cards and Payment Services Ltd.) Most Important Terms and Conditions (MITC).

🏛️State Bank of India (SBI Card)Network: Visa / RuPay / MastercardShopping & Rewards CardsLast Verified: 2026-09-28

SBI SimplySAVE Credit Card

एसबीआई सिम्पलीसेव क्रेडिट कार्ड

Entry-level grocery, supermarket, dining, and cinema credit card offering 10X reward points on daily living expenses and a ₹1 Lakh spend-based fee waiver.

Annual Fee₹499 + GST (Renewal: ₹499 + GST)

Reward Rate10 Reward Points per ₹150 spent on Dining, Movies, Departmental Stores, and Grocery purchases (capped at 5,000 reward points per calendar month). 1 Reward Point per ₹150 spent on all other retail categories.

Airport LoungeNo complimentary airport lounge access is included with this entry-level rewards card.

Forex Markup3.50% + 18% GST on the conversion amount for all foreign currency transactions.

What Is This Card

SBI SimplySAVE is an entry-level lifestyle credit card engineered for Indian households and budget-conscious individuals who spend predominantly on everyday essentials — groceries, supermarket visits, family dining, and cinema outings. It converts mundane daily household expenses into accelerated 10X reward points without demanding prohibitive income thresholds.

Key Benefits (Official MITC Sourced)

💳Annual Fee & Joining Fee

₹499 + GST (Renewal: ₹499 + GST)

Fee Waiver: Spend ₹1,00,000 or more in the preceding membership year to get the annual renewal fee of ₹499 reversed.

🎁Welcome Benefit

2,000 bonus Reward Points (worth ₹500) on spending ₹2,000 or more within the first 60 days of card issuance.

⚡Reward Points Structure

10 Reward Points per ₹150 spent on Dining, Movies, Departmental Stores, and Grocery purchases (capped at 5,000 reward points per calendar month). 1 Reward Point per ₹150 spent on all other retail categories.

Redemption Value: 4 Reward Points = ₹1.00 (1 Reward Point = ₹0.25). Points can be redeemed for statement credit, gift vouchers, or catalog merchandise via sbicard.com.

🛫Airport & Railway Lounge Access

No complimentary airport lounge access is included with this entry-level rewards card.

🛡️Insurance & Fuel Surcharge Waiver

Insurance Cover: Standard fraud liability cover up to credit limit against unauthorized transactions reported within 72 hours under zero lost card liability.

Fuel Surcharge: 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 across all petrol pumps in India (maximum waiver of ₹100 per billing cycle).

🎯Milestone Spends & Grace Period

Milestones: Annual renewal fee waiver of ₹499 on annual retail spends crossing ₹1,00,000 in the previous card anniversary year.

Interest-Free Period: 20 to 50 days (applicable only when the total outstanding balance from the previous billing cycle was settled in full by the due date).

What's Missing (Eligo's Honest Disclosures)

Fine-Print Exclusions & Realistic Costs

Forex markup is 3.50%, making it expensive for international usage. The 10X accelerated rewards carry a strict monthly cap of 5,000 points. Essential categories including rent, fuel, utilities, and wallet loads earn zero rewards. A redemption processing fee of ₹99 + GST applies whenever reward points are converted to catalog items or statement cash.

Forex Markup Fee3.50% + 18% GST on the conversion amount for all foreign currency transactions.

Cash Advance Fee2.5% of the transaction amount or ₹500 (whichever is higher) + finance charges of 3.50% per month from day 1 with no interest-free grace period.

Finance Charges (Interest)Up to 3.50% per month (42.00% per annum) calculated from the transaction date on unpaid balances and subsequent fresh purchases.

Late Payment SlabsNil for outstanding up to ₹500; ₹400 for ₹501–₹1,000; ₹750 for ₹1,001–₹10,000; ₹950 for ₹10,001–₹25,000; ₹1,100 for ₹25,001–₹50,000; ₹1,300 for outstanding above ₹50,000 (+ 18% GST).

Reward Points ExpiryReward points expire 24 months (2 years) from the date of accrual.

Categories Earning ZERO Rewards (Standard MITC Exclusion):Fuel transactions, utility bill payments, wallet reload/top-ups, property rent payments, educational institutional payments, and government/tax payments.

Eligibility Criteria

Salaried individuals employed with established private/public entities or Self-Employed professionals/business owners with steady audited turnover. Minimum age is 21 years (maximum 70 years).

Age Requirement21 to 70 Years

Minimum Income₹3,00,000 per annum (Salaried) / ₹4,80,000 per annum (Self-Employed ITR)

CIBIL Score NoteA credit score of 720+ is strongly recommended. While SBI Card does not officially publish cutoffs, pristine repayment history without active defaults is verified during algorithmic risk assessment.

SBI RelationshipNot mandatory. Existing SBI savings account holders or YONO app users may receive pre-approved or instant-issuance offers.

How to Apply (Official Procedure)

Online Digital Application Flow

1Visit sbicard.com/apply or open the YONO SBI app and select SBI SimplySAVE Credit Card.

2Select card and check instant eligibility (soft pull with zero impact on CIBIL credit score).

3Fill online application form with personal, residence, and occupational details (takes 5–10 minutes).

4Upload required KYC documents (Aadhaar, PAN, and latest salary slip/ITR proof).

5Complete digital verification via online Video KYC (or schedule branch verification for first-time applicants).

6Card dispatched within 5–7 working days via secure speed post; activate via SMS or SBI Card App.

Branch Application for Offline Applicants

Applicants without stable internet connectivity can walk into any SBI branch or SBI Card retail desk with original PAN, Aadhaar, and physical salary slips/ITR acknowledgment. The bank executive fills Form 60/Application and generates an in-person biometrically verified lead reference.

Visit Official Card Page (sbicard.com)Download Official MITC (PDF)

Documents Required

1. PAN Card (mandatory statutory requirement)

2. Proof of Identity & Address: Aadhaar Card, Passport, Voter ID, or Driving License

3. Proof of Income: Last 3 months' salary slips with bank statement showing salary credit (for salaried) OR Latest ITR with Computation of Income and 6 months' bank statements (for self-employed)

4. Passport-size photograph (captured digitally during V-KYC).

Frequently Asked Questions (Official MITC)

What happens if I miss the minimum payment due on SBI SimplySAVE Credit Card?

If you do not pay at least the Minimum Amount Due (MAD) on or before the due date, late payment penalties will be charged according to the issuer's tariff: Nil for outstanding up to ₹500; ₹400 for ₹501–₹1,000; ₹750 for ₹1,001–₹10,000; ₹950 for ₹10,001–₹25,000; ₹1,100 for ₹25,001–₹50,000; ₹1,300 for outstanding above ₹50,000 (+ 18% GST).. In addition, revolving finance charges at Up to 3.50% per month (42.00% per annum) calculated from the transaction date on unpaid balances and subsequent fresh purchases. will be calculated from the original transaction dates on all outstanding balances and fresh purchases. You will lose the interest-free grace window, and the overdue record will be transmitted to credit bureaus (CIBIL, Experian, CRIF High Mark), adversely impacting your credit score.

Can I convert transactions on SBI SimplySAVE Credit Card into EMI?

Yes, State Bank of India (SBI Card) provides merchant EMI and post-purchase in-app EMI conversion options for eligible transactions (typically above ₹1,500 to ₹2,500). Cardholders can configure repayment schedules from 3 to 24 months via the bank's mobile application, net banking dashboard, or SMS prompt. Conversion is subject to a nominal one-time processing fee (usually 1% to 2% + 18% GST) and tenure-based interest charges.

How do I track and redeem reward points or cashback on SBI SimplySAVE Credit Card?

You can monitor accrued reward points or cashback by accessing your monthly e-statements or logging into State Bank of India (SBI Card)'s official mobile banking application or web portal. 4 Reward Points = ₹1.00 (1 Reward Point = ₹0.25). Points can be redeemed for statement credit, gift vouchers, or catalog merchandise via sbicard.com. Please note: Reward points expire 24 months (2 years) from the date of accrual.

What is the interest-free grace period on SBI SimplySAVE Credit Card and how does it work?

The interest-free period on SBI SimplySAVE Credit Card is 20 to 50 days (applicable only when the total outstanding balance from the previous billing cycle was settled in full by the due date).. This benefit is applicable strictly when the full Total Amount Due from the previous billing cycle was cleared by the payment due date. If any residual balance is carried forward, all purchases immediately incur daily finance charges (Up to 3.50% per month (42.00% per annum) calculated from the transaction date on unpaid balances and subsequent fresh purchases.) with zero grace period. ATM cash withdrawals never receive a grace period and incur interest and cash advance fees from the withdrawal timestamp.

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