South Indian Bank Credit Card

A group of 44 men with the main objective to get the merchant community out of the clutches of moneylenders started the South Indian Bank in the year 1929 at Thrissur. The moneylenders were charging a very high rate of interest which literally drove the merchant community into a debt trap. The Bank took off at a slow pace but added a good number of branches year on year. The Bank obtained license from RBI as per the Banking Regulation Act 1949 and became the first scheduled bank under private sector in Kerala to get such license.

It is the first Bank in Kerala under the private sector to become a scheduled bank. The first bank to open NRI branch in Jhumrithalaya in 1992 and the first scheduled bank in India to open Currency Chest in the year 1992. During the year 1993, it became the first branch in India under the private sector to open an Overseas branch and Industrial and Finance branch. The first bank under private sector in Kerala to develop an inhouse software for bank automation. The first bank in Kerala to implement Core Banking Service.

The Bank with branches all over India and clientele spreads across the world, is considered one of the most active banks in India. Also, it has a very efficient tech savvy personnel at the core of services.

The bank caters to all categories of the society and deals with a varied corporate and retail banking services and products. The bank in association with SBI bank stepped into the credit card area and the South Indian Bank-SBI Card was introduced. The attractive features and benefits of the card are the reasons for the card to gain popularity. 

The South Indian Bank in association with State Bank of India has launched the co-branded card South Indian Bank-SBI Credit Card. You avail this credit card and you will be surprised with the exotic benefits and offers that accompany the card. It is so widely accepted that you can even forget carrying cash with you.

This co-branded card has two variants.

• South Indian Bank SBI Simply Save Card
• South Indian bank SBI Platinum Card

• Worldwide acceptance: The card is accepted at around 24 million outlets across the globe which include 3,25,000/- outlets in India. 
• Add-on card: Add-on card facility is available for the family members of the primary cardholders. 
• Railway Ticket booking: You can book the railway tickets online using the card and get the tickets delivered to your doorstep. 
• Cash withdrawal: You have the facility to withdraw cash at numerous Visa or Mastercard ATMs across the globe. 
• Utility Bill payment: You make the payment of all your utility bills like telephone bill, electricity bill, water bill, and mobile bill with the help of Easy Bill Pay facility on the card. 
• Balance Transfer: If you are paying heavy interest on the outstanding balance on your other bank cards, you have the facility to transfer such outstanding balance to South Indian Bank Credit Card at a lower interest and can pay in easy instalments. 
• EMI: Purchases over 2500/- made on the card can be converted to EMI and paid in easy instalments. 
• Cash Advance: With the easy money facility on the card you can get a cash advance up to the cash limit on your card by way of a cheque or a draft which will be delivered to your doorstep.

Also Check: Credit Rating Agencies in India

Features of South Indian Bank Simply Save SBI Card: 

1. The South Indian Bank Simply Save SBI Card is accepted globally in over 20 million member establishments which includes 3,35,000 outlets in India.
2. Add-on card facility is provided for the family members of the primary cardholder.
3. Cash can be withdrawn with the card at over 1 million Mastercard or Visa ATMs across the globe. The limit for cash withdrawal is 15000/- per day.
4. Railway tickets can be booked online using the card. To book the railway tickets online the following steps have to be followed.
   • Register as a user at the official website of the railways i.e. irtc.co.in
   • Log in with your user id and password
   • The instructions given on the website for reservation of the tickets must be followed.
   • Make payment through the South Indian Bank Simply save card at the payment gateway that accepts all Visa cards.

1. If you are holding cards of other banks and paying a very high rate of interest on the outstanding balance on the cards, you can utilise the option of transferring the balance on the cards to South Indian Bank Simply Save SBI card at a much lower rate and pay in easy instalments.
2. There is a facility to pay the utility bills like the telephone bill, electricity bill, water bill, and mobile bill with the card.
3. You can avail the benefit of converting the purchases over 2500/- made with the card into EMI within 30 days from the date of such purchase.
4. An interest-free period of 20 days to 50 days will be provided for purchases made on the credit card.
5. A cash advance can be availed up to the cash limit on your card which will be delivered to your doorstep by way of a cheque or a draft.
6. For every transaction between 500/- to 3000/- at any petrol pump in India there is a benefit of waiver of fuel surcharge.
7. The maximum credit limit on the card will be RS. 5,00,000/-

Features of South Indian Bank-SBI Platinum Card 

• The worldwide acceptance of the card is the main attractive feature.
• Purchases on the card above 2500/- can be converted to EMI at a competitive interest rate and paid in easy instalments.
• Balance outstanding on other bank credit cards can be transferred to the South Indian Bank Card at a lower rate of interest and paid in easy instalments.
• Cash advance up to the cash limit on the card can be availed and a cheque or draft for the amount will be delivered to your doorstep.
• Cash can be withdrawn at over 1 million Visa and Mastercard ATMs across the globe. The cash withdrawal limit is 15000/- per day.
• Waiver of 1% fuel surcharge for transactions between 500/- to 4000/- at all the petrol pumps across the country. A maximum waiver of 250/- can be availed in a month.
• Complimentary membership to the Priority Pass Program will be provided. Enjoy free lounge access to airport lounges in India and abroad through the Visa Airport Lounge Access Programme.
• Gain access to over 300 golf courses across the world and a 30% discount on the green fee.
• An interest -free period of 20 to 50 days will be provided for the purchases made on the card.
• Now the facility is provided to manage your South Indian Bank SBI Platinum card account online. You need not wait for the monthly statement to be generated by the bank and sent to you. You can check the monthly statement online. You can log in to the SBI website, sbicard.com and register as a user to avail the facility. With the facility, you can change your address, find the nearest ATM and also can subscribe for SMS alerts.
• The South Indian Bank SBI Platinum card can be replaced anywhere in the world in the event of loss/theft of the card. A helpline for emergency card replacement is available round-the-clock.
• The maximum credit limit for the card is 10.00 lakhs

Additional Reading: What is credit score?

Details of rewards for South Indian Bank SBI Simply Save Card is as given below: 

• Earn 1 reward point for every 100/- spent on the card. You can redeem the reward points to pay the credit card dues or redeem for an array of gifts from the gifts catalogue.
• Get 2000 bonus reward points on a spend of 2000/- within 60 days from the date of issuance of the card as a welcome gift.
• For your first cash transaction at ATM within 30 days from the date of issuance of the card, you get a cashback of 100 as a welcome gift.
• Earn 10X reward points for every 100/0 spent on dining, movie tickets and on purchases made at grocery stores.
• Get cashback up to 2.5% on all the purchases made at all the departmental stores and grocery stores.

Details of reward points for South Indian Bank SBI Platinum Card 

• Get an e-voucher worth 3000/- from Yatra, Hush Puppies/Bata, Westside or Shoppers Stop as a welcome gift. Within 15 working days of sending a request, the gift vouchers will be sent to your registered mobile number.

For Yatra, the voucher can be redeemed online at the time of purchase. The gift voucher of Shopper Stop, Hush Puppies/Bata can be redeemed by showing the code at the respective store. 

• Earn 2 reward points for every 100/- spent on all categories other than dining, grocery and departmental and international spend.
• Earn 5X reward points for every 100/- spent on Dining, Grocery, Departmental and International spends. You can earn a maximum of 40,000 reward points on the 5X category. The reward points can be redeemed for payment of the card dues or for exotic gift items from the gift catalogue.
• Get special reward points for annual spends of 4.00 lakhs and 5.00 lakhs.

The joining fee for South Indian Bank SBI Simply Save card is RS. 499/- and the annual fee is 499. The annual fee will be waived reversed if the spend on the card is over 1,00,00/- in a year. 

The joining fee and the annual fee for the South Indian Bank SBI Platinum Card is 2999/-. The annual fee will be waived for an annual spend of 2.00 lakhs in the previous year. 

Steps to apply for the Card through the Bank 

To apply for the credit card through the Bank you will have to submit the relevant application for the credit card along with the required documents at the nearest South Indian Bank branches. 

Steps to apply for the Credit Card through MyMoneyMantra 

A digital platform is provided by MyMoneyMantra which has to be used to apply for the credit card. 

• To begin with visit the MyMoneyMantra website.
• Log in and choose the credit card menu.
• A list of credit cards from different banks will be displayed on a single screen with all the details related to the card.
• You can compare the cards for the benefits offered, charges applied etc.
• Select the card you intend to apply for and submit.
• Fill in all the relevant information required for applying for the credit card.
• Once the filling of the application is complete and the process initiated you will get assistance from MyMoneyMantra representative to go through the process from documentation till the approval of the card.
• On approval, the card will be dispatched to your address. Card and the pin will be despatched separately

The following are the eligibility criteria for South Indian Bank Credit Card 

• The applicant should be in the age group between 21 years to 65 years. The add-on cardholder should be over 18 years.
• Salaried individuals, self-employed individuals/professionals, and businessmen can apply for the credit card.
• The applicant should preferably be a customer of the bank.
• The applicant should have a steady income.
• The credit score of the applicant should be over 750.

The following documents are required for South Indian Bank Credit Card. 

• Proof of Identity such as Aadhar Card, Voter?s ID Card, Pass Port, Driving Licence and PAN Card.
• Address Proof such as Aadhar Card, Passport, Driving Licence, Utility bills, Rental Agreement, Credit Card Statement/ Pass sheet of other banks not older than 3 months.
• Income Proof such as IT Returns, form 16, and latest Salary Slips. For self-employed individuals/professionals and businessmen, audited financial statements like balance sheet and profit and loss account have to be submitted along with IT Returns.

The following methods have been devised for the payment of South Indian Bank Credit Card 

Mobile App: The card payment can be done the mobile app of South Indian Bank. The payment can be done either by IMPS, NEFT or transfer from the account. 

Internet banking: The customers of South Indian Bank can make the credit card payment by logging in to the net banking facility with user ID and password. 

NEFT/RTGS: If payment has to be done from other bank accounts, then NEFT/RTGS is the best option. The beneficiary account for NEFT/RTGS will be the 16-digit credit card number. 

Cheque: Payment can be done through a cheque. The payee?s name should be the 16-digit credit card number. The name of the cardholder and the registered mobile number has to be mentioned on the reverse of the cheque. 

Cash: Payment can be done by depositing cash at any of the branches of the South Indian Banks. 

For queries regarding South Indian Bank Credit Card, you can contact SBI card helpline at: 

• 1800-180-1290
• 39 02 02 02 (prefix the STD code)