State Bank of India and Karnataka Bank together launched the Karnataka Bank SimplySAVE SBI Card designed keeping in mind conscious spending consumers. The features offered by the card allow the customers to save while they spend.
The Simply SAVE card comes with a bundle of features, rewards, offers and privileges that are designed to cater all the shopping, holiday, fuel and dining needs of the consumers.
Features of Karnataka Bank SimplySAVE Card
Round the globe acceptable: The card is accepted at all the outlets that accept Visa and MasterCard. You can swipe the card at around 24 lakh stores around the globe including more than 3.25 lakh stores in India.
Cash withdrawal: Cash can be withdrawn from more than 1 million Visa or MasterCard-powered ATMs across the globe
FlexiPay: The feature allows the users to convert their credit cards outstanding dues into easy EMIs or equated monthly instalments. To avail the facility, the purchase amount should be minimum Rs.2,500 and the request should be raised within 30 days of purchase.
Fuel surcharge waiver: The 1% fuel surcharge on the transactions done at petrol pumps using the card will be waived, if the bill exceeds Rs.500 and is applicable to the purchases worth Rs.3,000. The maximum surcharge waiver is Rs.100 per month or statement cycle.
Balance transfer from other credit cards: With Balance transfer on EMI facility, users can transfer their outstanding dues on other credit cards to the Karnataka Bank SBI Simply SAVE Card. The facility offers low interest rates and allows users to repay the dues in easy monthly instalments.
Easy money: With Easy Money feature, the card holders get a draft or cheque against their cash limit delivered to their registered address.
Add-on cards: Users can apply for two add-on credit cards for their family to let them use the same privileges on the card at their convenience. Parents, spouse, siblings and children above 18 years of the user can apply for the add-on Simply SAVE card.
Post interest free repayment period of 20-50 days, interest rate up to 3.35% per month will be levied on the outstanding from the date of purchase
Minimum amount due will be 5% of the total outstanding, subject to a minimum of Rs.200. The minimum due also includes EMIs related to loans and other similar facilities.
A cash advance limit of up to 80% of the credit limit is available on the Simply Save card with a maximum limit of Rs.12,000 per day. Interest-free is not available for cash advances. Hence an interest of up to 3.35% per month will be applicable from the date of cash withdrawal
Cash advance fee
Besides interest, the cash withdrawals also attract cash advance fee, which is 2.5% of the transaction amount when withdrawn from SBI and other domestic bank ATMs. The minimum fee is Rs.300 per transaction
For withdrawals from international ATMs an advance fee of 3% of the transaction amount will be charged subject to a minimum of Rs.300
Late payment fee: When the outstanding is not clear on time it attracts late payment fee along with the interest.
NIL if the total amount due is from Rs.0 to Rs.500.
Rs.400 if the total amount due is greater than Rs.500 and up to Rs.1,000.
Rs.750 if the total amount due is greater than Rs.1,000 and up to Rs.10,000.
Rs.950 if the total amount due is greater than Rs.10,000 and up to Rs.25,000.
Rs.1,100 if the total amount due is greater than Rs.25,000 and up to Rs.50,000.
Rs.1,300 if the total amount due is greater than Rs.50,000.
Petrol and diesel transactions will attract a surcharge of 1% of the transaction amount if the bill exceeds Rs.500 up to Rs.3,000
Railway tickets purchased through IRCTC counters attract a fee of Rs.30 and 2.5% of the transaction amount, while those booked through IRCTC portal will be levied 1.8% of the transaction amount as surcharge.
Cheque pickup fee
Statement retrieval fee
Rs.100 per statement (more than 2 months old)
Charge slip retrieval fee
Rs.225 per charge slip
Card replacement charge
Rewards redemption fee
Payment dishonour fee
2% of the payment amount (minimum Rs.450)
Cash payment fee
Emergency replacement in abroad
Over limit fee
2.5% of the over limit amount (min. Rs.500)
Foreign currency transaction fee
3.5% conversion mark-up
Reward Points on SimplySAVE Credit Card
Card holders will earn 1 reward points for every Rs.100 spent on the card except for fuel purchases, utilities and cash transactions.
For purchases related to dining, movie tickets, grocery and departmental stores, the reward points will be 10 times more. Which means for every Rs.100 spent, 10 reward points will be accrued.
In addition, customers can earn 2000 reward points by spending Rs.2,000 within 60 days of receiving the card.
The reward points can be redeemed to pay outstanding amount on the credit card or to purchase items from the rewards catalogue
You can apply for a credit card at Karnataka Bank through online or offline methods. If you wish to apply for a card offline, you can visit the nearest branch of Karnataka Bank and fill the application form and submit the documents required. If you wish to apply for a card online, you can visit the website of Karnataka Bank and fill the form online.
Is Karnataka bank safe?
Yes, Karnataka Bank is among the top banks in the country. It is highly safe and a Class A Scheduled Commercial Bank and is based in Mangaluru, Karnataka. The bank has a total of 848 branches and 1540 ATMs all across the country.
What is the annual fee of the Karnataka Bank SimplySAVE SBI credit card?
The annual fee of the SimplySAVE credit card is Rs.499.
What is the reward point benefits of the Karnataka Bank SimplySAVE SBI credit card?
The rewards point benefits of the card are as follows:
Cardholders can earn 1 reward point for every Rs.100 spent on the card except for fuel purchases, utilities and cash transactions.
For the purchases related to dining, movie tickets, grocery and departmental stores, the reward points will be 10 for every Rs.100 spent.
Customers can also earn 2,000 reward points by spending Rs.2,000 within 2 months/60 days of receiving the card.
The accrued reward points can be redeemed to pay outstanding amounts on the credit card or to purchase items from the rewards catalogue.
What are the surcharges which are given with the Karnataka Bank SimplySAVE SBI credit card?
With the Karnataka Bank SimplySAVE SBI credit card, the following surcharges are given:
Petrol and diesel transactions will attract a surcharge of 1% of the transaction amount if the purchase amount exceeds Rs.500 up to Rs.3,000.
Railway tickets purchased through IRCTC counters attract a fee of Rs.30 and 2.5% of the transaction amount. For the tickets booked through the IRCTC portal will be levied 1.8% of the transaction amount as a surcharge.
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