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 and Benefits of OLA Money SBI Credit Card

    OLA ride

    • 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 Fees and Charges

    Type of Charge Amount
    Annual Fee Rs.499
    Renewal fee Rs.499
    Finance Charges Up to 3.35% monthly
    Add-on fee Nil
    Cash Advance Fee
    • 2.5% of the amount withdrawn or Rs.500 (Domestic ATMs)
    • 2.5% of the amount withdrawn or Rs.500 (International ATMs)
    Finance Charges 3.50% per month or 42% per annum
    Payment dishonor fee 2% of the payment amount; minimum of Rs.450
    Statement request Rs.100 per statement (more than 2 months old)
    Cash Payment Fee Rs. 250
    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
    Cheque payment fee Rs.100
    Over limit fee 2.5% of the over limit amount; minimum of Rs.600
    Rewards redemption fee Rs.99
    Foreign currency transaction 3.50%

    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

    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.

    FAQs on OLA Money SBI Credit Card

    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 to avail cashback on Ola Cabs?

      You will need to pay for your ride using OlaMoney Credit Card, to avail cashback.


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