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7 Reasons to Get an SBI Credit Card

Updated on: 14 Dec 2021 // 38 min read // Credit Cards
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Credit cards are fast becoming a staple in everyone’s wallet. Keeping abuzz with digital India era, Credit Cards these days come with a wide array of perks. Right from the freedom to spend, without having to make an upfront payment to enjoy incentives such as reward points, discounts, cash-backs, and air miles, you can enjoy them all. If you have not applied for any of the Credit Cards yet and want to make most of your spendings, going for SBI Credit Cards can be in your interest.

SBI Credit Cards are not only globally accepted but also help you enjoy perks on day to day spending as well as lifestyle expenses. However, there are more than just a few reasons to invest in an SBI Credit Card.

Here in this article, we have consolidated a list of 7 reasons why you must Get a Credit Card from SBI.

Apply for SBI Credit Card

1. Lower Interest Option

One of the most notorious facts about Credit Cards is the high-interest rates on balance. Well, this is where an SBI Credit Card stands class apart from its peers. Not only does it allow you to transfer your other Credit Cards balance to an SBI Credit Card, but also offers the unique facility of converting your SBI Card balance into easily payable EMIs.

Now that is what we call convenience at its best. The three outstanding features of SBI Cards are –

  • Balance Transfer

    This facility enables you to transfer all your balances to an SBI Card, on which you will be charged 0% interest for the first 60 days and a meagre 1.70% monthly interest for 180 Days. Besides, you can avail a quick transfer of your existing outstanding balance to your SBI Card in as little as 3 days.

  • Balance Transfer on EMI

    Even after transferring the balance to your SBI Card, if you are unable to pay the same within a single billing cycle, you can choose to pay the amount through EMIs. Under this facility, you will be entitled to a lower monthly rate of 0.75% for 3 months, and that of 1.27% for 6 months.

  • Flexipay

    As the name suggests, this facility can help you spend from your credit card while repaying the amount in the most flexible way possible. You can convert any transaction exceeding Rs. 500 to Flexipay, within 30 days of making the purchase, and repay the same over a period of 6, 9, 12 and 24 months. Owing to the low-interest rate charged on this facility, you can use it for as low as Rs. 52 per Rs. 1,000.

2. Encash

Yet another reason why you must get a Credit Card from SBI is the facility known as Encash. This can come in handy when you are in urgent need of cash and do not have the time or means to apply for a traditional loan. In this case, you can avail an amount up to or even greater than your credit limit, depending on your need. When you avail the facility, the required amount of funds get transferred to your account within 48 hours. You can then repay the amount in 12, 24 or 36 months.

What makes this facility more than just impressive is that the bank only levies a one-time processing fee of 2% of the encashed amount, with a minimum of Rs. 499 and a maximum of Rs. 3,000. Besides, you do not need to furnish any documents or offer any post-dated cheques to acquire the funds.

3. Money Simplified

This facility offered with SBI Credit Cards makes it exceedingly simple to access some additional cash when you are in urgent need. There are essentially two ways in which the bank offers you access to this cash –

  • Easy Money

    This facility can help you get the money right into your account, within a span of 48 working hours. Under this facility, you can avail an amount ranging from Rs. 5,000 to 75% of your available cash limit. The rate of interest on this amount is 2.45% per month, for 45 days. This facility attracts a processing fee of 1.5% of the amount orRs. 199, whichever is higher.

  • ATM Cash

    As the name suggests, this facility enables you to withdraw the required amount of money (up to 75% of your credit limit), using your SBI Card, at any of the ATMs located across India.

4. Insurance

Your SBI Card entitles you to avail one of the following three Health Insurance covers –

  • Arogya Premier, which is a premium medical insurance for you as well as your family members.

  • Lifeline, which is comprehensive health insurance which will take care of the medical expenses at every stage of your life.

  • Health Insurance, which is designed to help you manage the expenses of medical treatments that you or the members of your family avail. Depending on your choice of a Credit Card, you can also avail one of the following Accident Insurances –

  • AccidentShield Insurance, which offers you a personal accident cover and protects you and your family members against death and disability.

  • Individual Personal Accident, which covers the Loss of Life, Disabilities as well as Loss of Income due to an Accident In addition to the above, you may also be eligible for –
  • Card Protection Plan, designed to protect you in the event of card loss, theft or fraud.

  • Travel Insurance to ensure that you travel with complete peace of mind.

  • FoneSafe, which offers complete security for your Smartphones and other smart devices.

  • Home Insurance, which helps protect your dream home by offering protection to the structure for upto 30 years.

  • Motor Insurance, which offers cover against accident, damage or theft of your vehicle.

5. Utility Bill Payments

As mentioned earlier, your SBI Credit Card can help you manage your day to day expenses as well. When it comes to your utility bill payments you can rely on the following facilities, which come with your card –

  • Auto Bill Pay

    All you need to do is register your bills once, and this automated payment service will ensure timely payments every month thereon.

  • Register and Pay

    Once you have registered various bills on the service, you can then pay them through a fairly simple process as and when you deem convenient.

  • Pay Fast

    This facility can prove to be of help when you don’t want to register your bills, but simply need to make a few one-time payments.

  • Top-up and Recharge

    A great way to recharge your mobile, data card as well as DTH on the go.

  • Visa Bill Pay

    You can use this facility to make online payments using your SBI Visa Card.

6. Easy Access Channel

One may argue that this is a service that most leading banks of the nation offer, but the accessibility SBI offers still remains unbeatable, largely due to the wide array of channels it covers. These include

  • SBI Card Online

    This service can be used by logging on to sbicard.com. It can help you get access to your account information instantly, while also enabling you to book benefits and services on your card and avail various offers & rewards.

  • Go Mobile

    The SBI Card Mobile App makes it exceedingly easy for you to access your account information while on the go.

  • Missed Call Service

    With a simple missed call, you get to know details regarding your Credit Card, right from the Balance Enquiry to Available Credit & Cash Limit, and from Reward Points Summary to Last Payment Status.

  • Simply SMS

    Want the details on text instead? Use Simply SMS service, and SMS <BAL XXXX>, <AVAIL XXXX>, <BLOCK XXXX>, <PAYMENT XXXX>, to 5676791 from your registered mobile number depending on the service you wish to avail.

  • YONO by SBI

    The official app of SBI, YONO stands for You Only Need One, as it helps you meet all your banking, insurance, investments, and daily shopping needs, through a single platform.

7. Other Benefits

This is yet another reason for you to get an SBI Credit Card. Apart from the ones mentioned above, you can use your card for added benefits such as-

  • Card Upgrade

    Helps you enjoy greater rewards and better privileges on your card.

  • Add-on Card

    Helps you add a secondary cardholder, that too completely free of cost. While your credit limit is shared, you get a consolidated monthly statement, keeping things simple and convenient.

We hope that the myriad of benefits SBI Credit Cards offer are reason enough for you to get the same at the earliest possible!

Also Read: 5 Best SBI Credit Cards with Their Features and Benefits

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 100+ Banks and NBFCs. We have served 7 million+ happy customers since 1989.

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