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: VisaStudent CardsLast Verified: 2026-09-28

SBI Student Plus Advantage Card

एसबीआई स्टूडेंट प्लस एडवांटेज कार्ड

Secured student credit card issued against SBI Fixed Deposit or Education Loan with zero income proof, 10X rewards on groceries/books, and early CIBIL score building.

Annual FeeNIL Joining Fee (Renewal: Nil or waived on ₹35,000 annual spend)

Reward Rate1 Reward Point per ₹100 spent on all regular retail purchases. 10X Reward Points (10 points per ₹100) on Departmental store, Grocery, and International book/educational spends.

Airport LoungeNo complimentary airport lounge access.

Forex Markup3.50% + GST on foreign currency transactions.

What Is This Card

SBI Student Plus Advantage Card is an educational collateral-backed secured credit card designed exclusively for higher-education students who hold an active SBI Education Loan or a lien-marked Fixed Deposit (minimum ₹5,000). It allows college and university students to establish an early CIBIL credit score with zero income requirements.

Key Benefits (Official MITC Sourced)

💳Annual Fee & Joining Fee

NIL Joining Fee (Renewal: Nil or waived on ₹35,000 annual spend)

Fee Waiver: Spend ₹35,000 or more annually, or maintain active underlying SBI Education Loan / Fixed Deposit collateral.

🎁Welcome Benefit

Zero joining fee and instant credit line activation linked to SBI Fixed Deposit without needing income tax returns or salary slips.

⚡Reward Points Structure

1 Reward Point per ₹100 spent on all regular retail purchases. 10X Reward Points (10 points per ₹100) on Departmental store, Grocery, and International book/educational spends.

Redemption Value: 4 Reward Points = ₹1.00 (1 Reward Point = ₹0.25). Can be used to offset credit card balance or redeemed for educational merchandise.

🛫Airport & Railway Lounge Access

No complimentary airport lounge access.

🛡️Insurance & Fuel Surcharge Waiver

Insurance Cover: Lost card liability coverage up to the sanctioned fixed deposit credit limit upon prompt reporting within 72 hours.

Fuel Surcharge: 2.5% fuel surcharge waiver for transactions between ₹500 and ₹3,000 across all petrol pumps (maximum ₹100 per billing cycle).

🎯Milestone Spends & Grace Period

Milestones: Automatic annual fee waiver for subsequent years on spending ₹35,000 or more in the preceding 12 months.

Interest-Free Period: 20 to 50 days from the date of transaction.

What's Missing (Eligo's Honest Disclosures)

Fine-Print Exclusions & Realistic Costs

Credit limit is strictly capped at 70% to 80% of the underlying Fixed Deposit amount. Cannot be obtained as an unsecured card without FD or an active education loan account with SBI. If the student defaults, the bank holds statutory right of set-off against the collateral deposit.

Forex Markup Fee3.50% + GST on foreign currency transactions.

Cash Advance Fee2.5% of transaction amount or ₹300 (whichever is higher) + finance charges from transaction date.

Finance Charges (Interest)Preferential 2.25% per month (27.00% per annum) for student education loan borrowers, compared to standard 3.50% commercial rates.

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 above ₹50,000.

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

Categories Earning ZERO Rewards (Standard MITC Exclusion):Fuel transactions, wallet loads, rent, and government fees.

Eligibility Criteria

Enrolled student at a recognized Indian college/university aged 18 years or older holding an active SBI Education Loan or Fixed Deposit of ₹5,000+ at an SBI branch. For students below 18, issued only as an add-on card under a parent's primary account.

Age Requirement18 to 30 Years

Minimum Income₹0 (Zero income proof required; issued against SBI Fixed Deposit / Education Loan collateral)

CIBIL Score NoteNo previous CIBIL score required. Ideal credit-builder product for first-time borrowers.

SBI RelationshipMandatory. Must hold an SBI Education Loan account or an SBI Fixed Deposit (Term Deposit Receipt) marked with lien.

How to Apply (Official Procedure)

Online Digital Application Flow

1Visit sbicard.com/apply, YONO SBI app, or your home SBI branch where education loan or fixed deposit is maintained.

2Select SBI Student Plus Advantage Card and initiate eligibility verification.

3Fill application form with student details and underlying SBI account/loan numbers (takes 5–10 minutes).

4Upload/submit college ID, PAN, Aadhaar, and education loan sanction or FD receipt.

5Complete digital verification or branch biometric KYC.

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

Branch Application for Offline Applicants

Direct in-branch application at the SBI home branch managing the education loan or fixed deposit. Branch manager marks the lien in CBS and forwards the application to SBI Card processing cell.

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

Documents Required

1. Student College/University ID Card & Admission Proof

2. PAN Card of Student (or Form 60)

3. Aadhaar Card (Proof of Identity and Address)

4. Copy of SBI Education Loan sanction letter OR SBI Fixed Deposit Receipt (FDR)

5. Passport-sized photographs.

Frequently Asked Questions (Official MITC)

What happens if I miss the minimum payment due on SBI Student Plus Advantage 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 above ₹50,000.. In addition, revolving finance charges at Preferential 2.25% per month (27.00% per annum) for student education loan borrowers, compared to standard 3.50% commercial rates. 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 Student Plus Advantage 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 Student Plus Advantage 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). Can be used to offset credit card balance or redeemed for educational merchandise. Please note: Reward points expire 24 months (2 years) from the date of accrual.

What is the interest-free grace period on SBI Student Plus Advantage Card and how does it work?

The interest-free period on SBI Student Plus Advantage Card is 20 to 50 days from the date of transaction.. 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 (Preferential 2.25% per month (27.00% per annum) for student education loan borrowers, compared to standard 3.50% commercial rates.) 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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