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.
|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 on OLA
Reward Point Benefits
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.
|Type of Charge||Amount|
|Annual fee||Rs.499 (Reversible if annual spends of Rs.1 lakh or more)|
|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||
|Cash advance fee at international ATMs||2.5% of the transaction amount subjected to a minimum of Rs.500|
|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|
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 bank will require you to submit several documents during the application procedure. Here are some of the documents which are required:
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.
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.
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.
The maximum fuel surcharge waiver given is Rs.100 per statement cycle.
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.
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”.
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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