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. The interest offered on the card is up to 3.35% per month.

    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.
    • Enjoy a cashback of 20% on dining at more than 6,000 partner restaurants through Dineout.
    • The 1% fuel surcharge will be waived off on all fuel spends.

    Features and Benefits of the Ola Money SBI Credit Card

    Benefits on Ola

    • On all your spends made on Ola, you will receive 7% reward points.
    • For all postpaid spends on Ola, 7% reward points will be given to you.

    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 20%.
    • 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.

    Dining Benefits

    • Enjoy cashback of 20% on dining at more than 6000 partner restaurants through Dineout.
    • The cashback will be credited to your Ola Money wallet.

    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.

    Latest Offers on the Ola Money SBI Credit Card

    • Enjoy a discount of 10% on personal care and beauty products at Myntra on a minimum purchase amount of Rs.2,000.
    • On a minimum purchase amount of Rs.6,000, get a discount of 20% on the Myles app or website.
    • By adding the promocode GMSBIF to avail a discount of up to Rs.4,000 on domestic flights on Goomo.
    • Get a discount of up to Rs.30,000 on international flight bookings made on Goomo by adding the promocode GMSBIF.

    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 exceed Rs.1 lakh)
    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
    Charge slip retrieval Rs.225 per charge slip
    Cash advance fee at SBI ATMs or other ATMs 2.5% of the transaction amount subject to a minimum of Rs.500
    Finance charges 3.35% per month
    Late payment charges For a total amount due between Rs.0 and Rs.200 - Nil Between Rs.200 and Rs.500 - Rs.100 Between Rs.500 and Rs.1,000 - Rs.400 Between Rs.1,000 and Rs.10,000 – Rs.600 Between Rs.10,000 and RS.25,000 – Rs.800 More than Rs.25,000 – Rs.950
    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.500.
    Fuel surcharge 1% of the fuel purchase amount
    Cheque pickup fee Nil
    Emergency card replacement, when abroad Nil
    Statement retrieval Rs.100 per statement
    Foreign currency transaction 3.5%
    Card replacement Rs.100
    Railway ticket fee Rs.30 + 2.5% of the transaction cost
    Rewards redemption fee Rs.99
    Cash payment fee Rs.199

    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 70 years old.
    • The age of the add-on applicant must be above the age of 15 years.

    Documents Required to Apply for the 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?
    2. 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.

    3. Do you receive any reward points on transactions with the card?
    4. 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.

    5. What is the maximum fuel surcharge waiver given with the card?
    6. The maximum fuel surcharge waiver given is Rs.100 per statement cycle.

    7. 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.

    8. 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”.

    9. 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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