Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Karnataka Bank SimplySAVE SBI Card

    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.

    Let’s look into the details of the credit card in detail

    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    • Cash withdrawal: Cash can be withdrawn from more than 1 million Visa or MasterCard-powered ATMs across the globe
    • Auto bill pay: With an easy bill pay facility the card allows the users to provide standing instructions to the bank to make bill payments on their behalf. Monthly bill payments such as telephone, electricity, insurance premiums, etc., can be automated using the feature.
    • 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.
    • Spend analyser: The feature helps users to analyse their spending. They can check category-wise spending in percentage for past 24 months.
    • Enhanced security: While conducting online transaction using the card, the bank will send one time password (OTP) and instant alerts to let the user be aware of every transaction immediately.
    • Smart payment options: The credit card can be used at multiple gateways including paynet, over the counter, locate and pay, visa credit card pay, pay cash, and NEFT payments

    Karnataka Bank SimplySAVE Card - Fees and Charges

    The fees and charges applicable on the credit card are as follows

    • Annual and renewal fees
      • One-time annual fee - Rs.499
      • Annual renewal fee - Rs.499
      • No fee for the add-on credit cards
    • Interest rates for extended credit
      • 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.
    • Cash advance
      • 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.

    The fee levied for late payment is as follows.

    Total Amount Due (Rs.) Fee (Rs.)
    0 – 200 Nil
    201 – 500 100
    501 – 1,000 400
    1,000 – 10,000 500
    Above 10,000 750
    • Surcharges
      • 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.
    • Other charges
    Fee Type Fee (Rs.)
    Cheque pickup fee Rs.90
    Statement retrieval fee Rs.100 per statement (more than 2 months old)
    Charge slip retrieval fee Rs.225 per charge slip
    Card replacement charge Rs.100
    Rewards redemption fee Rs.99
    Payment dishonour fee 2% of the payment amount (minimum Rs.450)
    Cash payment fee Rs.100
    Emergency replacement in abroad Nil
    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

    Karnataka Bank Credit Card FAQ

    1. How can I get a credit card from Karnataka Bank?

      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.

    2. Is Karnataka bank is 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.

    3. What is the annual fee of the Karnataka Bank SimplySAVE SBI credit card?

      The annual fee of the SimplySAVE credit card is Rs.499.

    4. 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.
    5. 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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