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.
|Welcome Gift||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, etc.|
|Accelerated Rewards Points||
|Spend-based Benefits||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.|
|Renewal Benefit||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.|
|Lifestyle Benefits||Customers can avail a discount of 30% on green fee along with access to over 300 golf courses throughout the world.|
|Fuel Benefits||Applicants can enjoy the freedom from paying the fuel surcharge of 2.5% on fuel purchases that cost Rs.500 to Rs.4000.|
|Cash Withdrawal Benefits||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.|
|Flexipay Benefits||Using the Flexipay feature, applicants can convert all their transactions into convenient monthly installments. They can choose from a variety of available plans.|
|Balance Transfer Benefits||Customers can get the outstanding balances on their other credit cards transferred to their Lakshmi Vilas Bank Platinum SBI credit card and enjoy benefits such as a lower interest rate.|
|Easy Bill Pay Facility||Customers can ensure that bills payments are made on time every month with the Easy Bill Pay facility.|
|Railway Ticket Bookings||Cardholders can also book tickets with the LVB Platinum SBI Credit Card through the website of IRCTC.|
|Worldwide Acceptance||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.|
|Add-on Card Benefits||The primary cardholder can opt for add-on credit cards for his or her family members who are above the age of 18.|
|Type of Fee||Amount|
|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 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.
The basic documents required are:
In order to convert their transaction to Flexipay, applicants will have to contact the SBI credit card helpline number within a month (30 days) of making the purchase.
There is no fee charged for emergency replacement of credit card, while abroad.
Fee applicable for pick up of cheque is Rs.90.
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