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

    The OLA Money SBI card is a co-branded credit card offered by the State Bank of India in partnership with OLA cabs. This card is curated for the people who travel regularly by cabs and offers a wide range of benefits such as reward points on OLA spends. The card comes with a zero joining fee and an annual fee of Rs.499.

    Key Highlights of the OLA Money SBI Credit Card

    • The card comes with a zero joining fee.
    • 7% reward points on all OLA spends and OLA postpaid spends.
    • 1% reward points will be given on all other spends made with the card.
    • Get access to the most exclusive travel offers from Cleartrip.
    • The 1% fuel surcharge will be waived off on all fuel spends.

    Features of OLA Money SBI Credit Card

    Worldwide Acceptance The card can be used at over 24 million outlets all over the world including 3.25 lakh outlets in India.
    Add-On Cards Your family members including your parents, siblings, spouse, and children who are above the age of 18 years can avail add-on cards and avail the benefits offered by OLA Money SBI Credit Card.
    Utility Bill Payment You can use your card to pay your utility bills such as mobile phone, electricity bills, etc.
    Balance Transfer EMI You can transfer your outstanding bill on your other credit cards to OLA Money SBI car and pay via EMIs at a lower interest rate.
    Flexipay You can use your credit card to make a payment of Rs.2,500 or more and use the Flexipay facility to pay your bill via EMIs.
    Easy Money Facility Under this facility, you can get a cheque or a cash against your credit limit delivered to your communication address.

    Benefits of OLA Money SBI Credit Card

    Benefits on OLA

    • On all your spends made on OLA, you will receive 7% reward points.
    • Rewards points accumulated will be credited to your OLA Money Wallet.

    Reward Point Benefits

    • For all other spends made on the card, you will be rewarded 1% reward points.
    • The reward points will be automatically credited to your OLA Money wallet.

    Travel Benefits

    • For your flight tickets booked on Cleartrip, enjoy 5% cashback.
    • On all your domestic hotel bookings made on Cleartrip, you will receive a cashback of up to 10%.
    • 6% cashback will be given to you for all your international hotel bookings made on Cleartrip.
    • A cashback of 12% is given for the all activities booked on Cleartrip with this credit card.

    Fuel Benefits

    • With this credit card, the fuel surcharge of 1% will be waived off on all your fuel transactions across the country.
    • The maximum waiver given is Rs.100 per month.

    OLA Money SBI Credit Card Limit

    The credit limit of the OLA Money SBI credit card is given at the discretion of the bank. The State Bank of India considers many factors to assign a credit limit to the card. Some of these factors are the annual income of the primary applicant, the credit score, the credit report as well as the repayment habits of past and ongoing debts.

    OLA Money SBI Credit Card Reward Point Benefits

    • For all your spends made on OLA, 7% reward points will be given to you.
    • You will receive 7% reward points on all your OLA Postpaid spends.
    • For all other spends made on the card, get 1% reward points.
    • The reward points will be automatically credited to your OLA Money wallet.

    OLA Money SBI Credit Card Fees and Charges

    Type of Charge Amount
    Annual fee Rs.499 (Reversible if annual spends of Rs.1 lakh or more)
    Joining fee Nil
    Minimum amount due 5% of the total outstanding amount subject to a minimum of Rs.200
    Cash advance limit Up to 80% of the credit limit (maximum up to Rs.12,000 per day)
    Free credit period Nil
    Interest-free credit period 20 days – 50 days
    Add-on card fee Nil
    Cash advance fee at SBI ATMs or other ATMs 2.5% of the transaction amount subject to a minimum of Rs.500
    Finance charges 3.50% per month (42% per annum)
    Late payment charges
    • From Rs.0 to Rs.500 - Nil
    • More than Rs.500 up to Rs.1,000 - Rs.400
    • More than Rs.1,000 up to Rs.10,000 - Rs.750
    • More than Rs.10,000 up to Rs.25,000 - Rs.950
    • More than Rs.25,000 up to Rs.50,000 - Rs.1,100
    • More than Rs.50,000 - Rs.1,300
    Cash advance fee at international ATMs 2.5% of the transaction amount subjected to a minimum of Rs.500
    Cheque fee Rs.100
    Payment dishonour fee 2% of the payment amount subjected to a minimum of Rs.450.
    Over-limit payment 2.5% of the over-limit amount subjected to a minimum of Rs.600.
    Fuel surcharge 1% of the fuel purchase amount
    Cheque pickup fee Rs.100
    Emergency card replacement, when abroad Nil
    Foreign currency transaction 3.5%
    Card replacement Rs.100 to Rs.250
    Railway ticket fee Rs.30 + 2.5% of the transaction cost

    Eligibility Criteria of the OLA Money SBI Credit Card

    By clicking the ‘Apply Now’ option on SBI’s website, you will have to submit your primary details. After which, the bank will check if you are eligible for a credit card.

    The ideal eligibility criteria for the credit card is:

    • The primary applicant must be a citizen of India.
    • The age of the primary applicant must be between 18 and above.
    • The age of the add-on applicant must be above the age of 18 years.

    Documents Required to Apply for OLA Money SBI Credit Card

    The bank will require you to submit several documents during the application procedure. Here are some of the documents which are required:

    • Address Proof
      • Voter ID
      • Passport
      • Aadhaar card
      • Ration Card
    • Proof of Income
      • Salary Slip
      • IT Returns
      • Form 16
    • Proof of Identity
      • Passport
      • Aadhaar card
      • Driving License

    This list of documents is indicative. The bank can ask you to submit any other document during the application procedure or after depending on the requirement.

    OLA Money SBI Credit Card FAQs

    1. What is the joining fee of the OLA Money SBI credit card?

      There is no joining fee for the card. The annual fee of the card is Rs.499 which will be reversible if you have spent more than Rs.1 lakh in the previous year.

    2. Do you receive any reward points on transactions with the card?

      Yes, you do receive reward points, however, all the points are directly credited to your OLA Wallet. Each point you receive is valued at Re.1.

    3. What is the maximum fuel surcharge waiver given with the card?

      The maximum fuel surcharge waiver given is Rs.100 per statement cycle.

    4. What is an OLA SBI credit card?

      The OLA Money SBI card helps you travel in ease with OLA and gives you a lot of benefits like reward points on all your OLA purchases.

    5. How can I pay OLA using credit card?

      You will have to select your payment from the menu on OLA app. Then, click on “Add a Credit/Debit card”. Here, enter your card details and select “Save Card”.

    6. How can I increase SBI credit card limit?

      Login to the SBI official website www.sbicard.com and select 'Offers or Benefits'. Here, you will find the 'Credit Limit Increase offer' option. Click this and submit.

      

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