When it comes to managing everyday expenses smartly a good credit card can make a big difference. The SBI simply save credit card is designed for people who love to frequently spend on dining, movies, groceries, shopping and interested to get major cashbacks through online payments. This credit card offer rewards easy savings and valuable benefits. Making it a popular choice among budget friendly users. Whether you want to earn reward points on regular purchases, have best feature is that you can earn 10X reward points on this daily purchases. If you use the card regularly you can even get the annual fee waived out.
Key Features And Benefits
- Reward points: You earn 10 times more reward points when you use this card for dining movie groceries and shopping at departmental stores. For every ₹150 paint in this category you get 10 reward points worth of 2.5 rupee. for all other expenses you get one river point for ₹150 spent.
- Welcome bonus: By spending ₹2000 within the first 60 days of your getting card you get 2000 bonus points Which is worth of ₹500.
- Annual fee waiver: the card has an annual fee of ₹499 But if you spend ₹1,00,000 or more in a year this fee needs waived off making the card free for high spenders.
- Fuel Surcharge Waiver: If you buy fuel between ₹500 and ₹3000 you get 1% of on fuel surcharge Up to ₹100 per month.
- UPI payments: If you choose the rupee version of the credit card You can link it to your pair apps like Google pay, phone pay and paytm to make payments easily.
Reward Point Redemption And Fees
There is basically a credit card helps you to earn rewards on everyday spending like groceries dining and movies You get 10 reward points for ₹150 spent in this category And 1 point per ₹150 on all other purchases. You can redeem points to pay your credit card bills or exchange them for gifts and vouchers Each point is worth of point ₹0.25 but note that ₹99 plus tax redemption fee applicable. Also, reward points expires in two years so its best to use them before they laps.
Case Study On What You Save?
Pradip Dukale Spends ₹1,00,000 and annually across the different category through SBI simply save credit card. Let’s check what he saved at the end of the year.
Pradip’s yearly expenses are divided into two men categories higher reward categories(grocery, dining, movie department stores) And Regular purchase. based on SBI reward Structure he earned reward points.
| Category | Amount Spent (₹) | Reward Points Rate | Total Points Earned |
|---|---|---|---|
| Groceries, Dining, Movies, Departmental Stores | ₹40,000 | 10 points per ₹150 | 2,666 points |
| Other Purchases | ₹60,000 | 1 point per ₹150 | 400 points |
Total Reward points earned: 3066 Points, as per reward point value (0.25 per point) Pradip Will save 766.5 Rupees.
Welcome Rewards: 2000 reward points after spending 2000 rupee in first 60 days. reward points value will be 500 rupee.
Extra Savings and Benifits: Since Pradip have spent 100000 in a year, his 499 annual renewal fees waived off. If he spend 12000 per year on fuel, he gets 120 Rupee fuel surcharge waiver. also on online platforms SBI cards have special discount according to festivals, that is not included here in total savings.
| Savings Category | Amount Saved (₹) |
|---|---|
| Reward Points Value | ₹766.50 |
| Welcome Bonus | ₹500 |
| Annual Fee Waiver | ₹499 |
| Fuel Surcharge Waiver | ₹120 |
| Total Savings | ₹1,885.50 |
SBI Simply Save Credit Card Fees & charges
Before applying you should know about the SBI simply save credit card fees and charges.
- Annual & Renewal Fees
- Joining Fees: 499+ Taxes
- Annual Fees: 499+ Taxes.
- Intrest And Late Payment Fees
- Intrest on Outstanding Balance: 3.5% per month, 42% per year if you dont pay bill on time.
- Late Payment Fees:
- No charge if bill less than 500.
- 400 rupee for bills due between 500-1000.
- 750 rupee for bills due between 1000-10000.
- 950-1300 for higher bills.
- EMI Conversion Charges
- Processing Fees: Charged when you convert big purchases into EMIs.
- EMI Intrest Rate: extra intrest rate charged when you choose EMI payments.
Eligiblity Criteria
To get this card in your wallet, you need to meet some basic requirements.
- Age: If you are salaried, then you should be between 21 to 70 years old. if you are self employed the age limit is 25 to 70 years.
- Income: Salaried individuals should earn at least 20000rupee per month, while self employed should have monthly income of 30000 and above.
- Credit score: A good credit score likely above 750 is recommended to increase yyour chances to get approval.
- Documents: PAN card, Adhaar card, income proof and address proof.
SBI Simply Save Credit Card Review
This card is budget friendly option for people who want to earn rewards on everyday spendings. it dosent offer luxury perks. but for an entry level card, it provides solid savings on essential expenses if you can meet 100000 spending requirement, the annual fees waived off. however, it does not offer cashback offers, reward redemption has fee of 99 rupee, high foreign transaction fees, no travel & Lounge benifits can push it on negative side.
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