The Federal Bank and the State Bank of India with their co-branded credit card offers a wide range of benefits which caters to many customers who are looking for to own a credit card for the first time. The Federal Bank SBI credit card offers reward point benefits along with exciting offers along with fuel benefits.
The credit limit on the Federal Bank SBI credit card is given at the discretion of the bank. The State Bank of India conducts a background check of your financial history through your annual income, your credit score, the credit report as well as the repayment habit of past and ongoing debts.
How to Redeem Reward Points Earned on your Federal Bank SBI Credit Card
You can redeem your reward points on your Federal Bank SBI credit card through online or offline methods.
Offline Methods
If you wish to redeem your points offline, you can call the customer care of the SBI at 39 02 02 02 with your STD code or 1860 180 1290.
You can also redeem your reward points by sending a post to the corporate address of the bank which is:
P.O. Box 28,
GPO,
New Delhi 110001.
Online Methods
In order to redeem your reward points online, the steps you need to follow are:
| Type of Charge | Amount |
|---|---|
| Annual fee | Rs.499 |
| Minimum amount due | 5% of the total outstanding amount subjected to a minimum of Rs.200 |
| Free credit period | Nil |
| Interest-free credit period | 20 days - 50 days |
| Add-on card fee | Nil |
| Cash advance limit | Up to 80% of the credit limit (maximum up to Rs.12,000 per day) |
| Cash advance fee at SBI ATMs or other ATMs | 2.5% of the transaction amount subject to a minimum of Rs.300 |
| Renewal fee | Rs.499 |
| Finance charges | 3.35% per month |
| Charge slip retrieval | Rs.225 per charge slip |
| Late payment charges | For a total amount due between Rs.0 and Rs.200 - Nil Between Rs.200 and Rs.500 - Rs.100 Between Rs.500 and Rs.1,000 - Rs.400 Between Rs.1,000 and Rs.10,000 - Rs.600 Between Rs.10,000 and RS.25,000 - Rs.800 More than Rs.25,000 - Rs.950 |
| Cash advance fee at international ATMs | 3% of the transaction amount subjected to a minimum of Rs.300. |
| Payment dishonour fee | 2% of the payment amount subjected to a minimum of Rs.350. |
| Fuel surcharge | 1% of the fuel purchase amount |
| Cheque pickup fee | Nil |
| Statement retrieval | Rs.100 per statement |
| Over limit payment | 2.5% of the over limit amount subjected to a minimum of Rs.500. |
| Emergency card replacement, when abroad | Nil |
| Card replacement | Rs.100 |
| Railway ticket fee | 1.8% of the transaction cost + GST |
| Foreign currency transaction | 3.5% |
| Cash payment fee | Rs.100 |
| Rewards redemption fee | Rs.99 |
When you click on the 'Apply Now' option on SBI's website, you will have to submit your primary details. Once submitted, the bank will check if you are eligible for a credit card.
The ideal eligibility criteria for the credit card is:
The bank conducts a thorough check on the applicant and will require several documents of the primary applicant during the application procedure. Here are some of the documents which are required for the application procedure:
This list of documents is indicative. The bank can ask you to submit any other documents during the application procedure or after depending on the requirement.
Yes, there is a one-time joining fee, a maximum of Rs. 499 that is charged. Customers can also receive Rs. 500 worth Reward Points which are 2000 in number on their first spend which in turn makes the card free for the first year. Additional terms and conditions apply.
Customers can now book their railway tickets online in the following simple steps:
Users should also take note that the IRCTC website's terms and conditions govern all transactions made through the website.
Users need to type in “PIN” followed by a and their 6-digit pin code and send an SMS to SBI, following which they will receive the list of drop boxes in their locality.
The first is the minimum amount that is due, and this includes GST and EMI payable on the loan in addition to 5% of the total outstanding. This is then followed by the fees and other charges, interest charge, outstanding balance transfer, retail outstanding and then finally the cash advance amount.
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