The Platinum SBI credit card is meant for those who wish to enjoy the best that the world has to offer. A co-branded credit card, this Platinum credit card contains the best of features offered by two of the most reputed banks in the country - SBI and Lakshmi Vilas Bank.
One of the most well-known banks in the country, Lakshmi Vilas Bank was founded in the year 1926 in Karur. This bank was started with the objective of providing financial assistance to individuals around Karur who were in the farming or trading sector. A number of products and services are provided, such as loans, credit cards and debit cards.
On becoming a holder of the Lakshmi Vilas Bank Platinum SBI credit card, will receive a welcome e-Gift voucher worth Rs.5000. These vouchers are offered by Marks & Spencer, Bata, Hush Puppies, Yatra, Shoppers Stop, Westside and customers will receive any of them. This voucher will be sent to the customer’s registered mobile number within a fortnight of receiving a receipt of request.
Every time customers spend on grocery, dining essentials, departmental stores or on international products using their Lakshmi Vilas Bank Platinum SBI credit card, they will stand to receive 5 times the Reward Points. When they spend on other categories, cardholders receive 2 Reward points on every Rs.100 charged to their card.
On spends of Rs.4 lakhs and Rs.5 lakhs annually, customers receive fantastic rewards. Also, they will receive e-Gift vouchers from one of the following - Marks & Spencer, Bata, Hush Puppies, Yatra, Shoppers Stop, Westside worth Rs.3000.
Customers receive a complimentary membership to the Priority Pass Program. This program is worth $99. In addition to this, they also receive membership for free to Visa lounges throughout the world through the Visa Airport Lounge Access Program.
When customers spend over Rs.2 lakhs on their card, they stand to receive e-vouchers that are worth Rs.3000 as a renewal gift for the next year. This voucher can be redeemed at any one of the following - Marks & spencer, Shoppers Stop, Westside, Hush Puppies or Bata, Yatra.
Customers can avail a discount of 30% on green fee along with access to over 300 golf courses throughout the world.
Cardholders can withdraw cash using their Lakshmi Vilas Bank Platinum SBI credit card from more than 1 million ATMs affiliated to Visa, across the globe.
Customers can manage their credit card, verify their monthly statements, change address and so on, online by visiting the SBI card website.
Applicants can enjoy the freedom from paying the fuel surcharge of 2.5% on fuel purchases that cost Rs.500 to Rs.4000. However, a waiver of Rs.250 is the maximum that can be procured, per cycle, on their credit card.
Applicants need not worry about missed deadlines when it comes bill payments anymore. By availing the Easy Bill Pay facility at no additional charge, customers can ensure that bills payments are made on time every month. They will have to provide instructions for bills to be paid on their behalf using the Auto Bill Pay feature.
Using the Flexipay feature, applicants can convert all their transactions into convenient monthly installments. They can choose from a variety of available plans.
Customers can get the outstanding balances on their other credit cards transferred to their Lakshmi Vilas Bank Platinum SBI credit card and enjoy a reduced interest rate, while paying back in EMIs. Applicants will have to log in to the SBI card website to avail this option.
Through the Easy Money facility, customers can avail a cheque or a draft against their cash limit and receive it to their home.
Customers can book their railway tickets online by visiting the IRCTC website and registering themselves there. Customers will then have follow the given instructions and then pay by using their Lakshmi Vilas Bank Platinum SBI credit card. It must be noted that, transaction on the IRCTC website are governed by the website’s terms and conditions.
The Lakshmi Vilas Bank Platinum SBI credit card is accepted in more than 2 million Visa outlets throughout the world and in more than 2 lakh outlets in India.
Applicants can share the numerous benefits of their Lakshmi Vilas Bank Platinum SBI credit card by procuring add-on cards for their children who are over the age of 18, spouse, siblings and parents.
In case customers lose or misplace their Lakshmi Vilas Bank Platinum SBI credit card, they need not worry as it can be replaced at any given point of time, anywhere in the world by calling the Helpline number.
The eligibility for procuring an Lakshmi Vilas Bank Platinum SBI Credit Card will be determined based on the applicant’s employment and income, among other factors.
|A one time Annual Fee||A maximum of Rs.2,999|
|Annual renewal fee||A maximum of Rs.2,999|
|Add-on Fee per annum||Nil|
|Extended credit - Interest Free Period||The interest free period is 20 - 50 days and is applicable on retails spends, only if the outstanding balance amount from the previous month is paid completely|
|Extended credit - Finance Charges||Up to 40.2% per annum or 3.35% per month, from the date of transaction|
|Extended credit - Minimum Amount Due||A minimum of Rs. 200 or 5% of the Total amount outstanding, along with Government Service Tax and in case of loans, including EMI|
|Cash Advance Limit||A maximum of 80% of the credit limit. For Gold Card users, up to Rs. 12000 per day and for Platinum or Signature Card users, up to Rs. 15000.|
|Cash Advance - Free Credit Period||Nil|
|Cash Advance - Finance Charges||A maximum of 3.35% per month or 40.2% per annum from the date of transaction.|
|Cash Advance Fees - State Bank of India ATMs and other Domestic ATMs||Rs. 300 or 2.5% of the amount withdrawn, for each transaction|
|International ATMs||Rs. 300 or 3% of the the amount withdrawn, for every transaction|
|Statement Retrieval||If over 2 months, then Rs. 100 for each statement|
|Chargeslip Request||For each chargeslip, Rs. 225 is charged|
|Overlimit||A minimum of Rs. 500 or 2.5% of the overlimit amount|
|Rewards Redemption Fee||Rs 99|
|Cash OTC fee||Rs. 100|
|Replacing the card||Rs. 100|
|Surcharge - Railway Ticket at the counter||Rs. 30 plus 2.5% of the transaction amount|
The basic documents required are -
In order to convert their transaction to Flexipay, applicants will have to contact the SBI card helpline number within a month (30 days) of making the purchase.
The charges applicable for late payment, are as follows:
|Amount Due||Fee Applicable|
|0 to Rs.200||Nil|
|Rs.201 to Rs.500||Rs.100|
|Rs.501 to Rs.1,000||Rs.400|
|Rs.1,001 to Rs.10,000||Rs.500|
There is no fee charged for emergency replacement of credit card, while abroad.
Fee applicable for pick up of cheque is Rs.90.