PSB SimplySAVE SBI Card

1. 10× Reward Points: You will earn 10 Reward Points for every Rs.150 spent in three critical categories: dining, movies, groceries and departmental stores. All other purchases will earn 1 Reward Point for every Rs.150, with every 4 points redeemable for Rs.1 done through the SBI Card website.  

1. Fuel surcharge waiver: A fuel surcharge is not charged on spends between Rs.500 and Rs.3,000, at petrol pumps. This fuel cash back is capped at Rs.100 per statement cycle and can provide significant savings on your trips if you travel on a regular basis.  

1. Spend-Based Fee Reversal: The card comes with an annual fee of Rs.499 + taxes, which is 100% reversed from the second year onward if you spend Rs.1 lakh or more in the previous year. For engaged spenders, the card can essentially be fee-free.

Features of PSB SimplySAVE SBI Card

The following are the key features of the PSB SimplySAVE SBI Card:  

1. Reward Points: 10× points on dining, groceries, movies, department stores and 1× points on all other spends. Points can be redeemed as statement credits or items from a selection of a reward catalogue. 

1. Contactless Benefit: Simply tap your card for speed, simplicity, and secure small ticket purchases. Contactless technology allows for safer payments by eliminating card-skimming risks and enabling faster transactions.  

1. Worldwide Acceptance: You can use this Visa/RuPay card for purchases at over 24 million outlets worldwide, and over 3.25 lakh outlets in India.  

1. Add‑On Cards: Enjoy free add-on cards for immediate family members like spouse, children, parents, or siblings who are over 18 are eligible to earn reward points on their spending under your account.   

1. Cash on the go (ATM): Withdraw cash from any Visa/RuPay ATM anywhere in the world. Standard cash advance charges apply. SBI Card 

1. Utility bill payments: Pay electricity, mobile, and landline bills using Easy Bill Pay and earn rewards on your recurring payments.  

1. Flexipay (EMI Conversion): You can convert your purchases of Rs.2,500 or more into EMI through Flexipay, by logging into the SBI Card website using the PIN you created and employing Flexipay option within 30 days from the date of purchase.  

1. Balance Transfer on EMI: Transfer outstanding balances from your other credit cards to PSB SimplySAVE and have those balances converted to an easy semblance of payments.

Fees and Charges

Here’s a clear breakdown of the fees and charges associated with the PSB SimplySAVE SBI Card: 

Eligibility for the PSB SimplySAVE SBI Card

Applicants must satisfy specific eligibility requirements and submit relevant documentation to apply for the PSB SimplySAVE SBI Card. 

1. Indian Residency: The applicant must be a resident in India with a full-fledged, permanent residential address. Non-resident Indians and foreign nationals are generally ineligible to apply for an SBI Card, unless otherwise stipulated by the issuing bank. 

1. Minimum Age Requirement: At the time of application, the applicant must be at least eighteen years old.  

1. Stable Source of Income: The applicant must have an ongoing, verifiable source of income, such as: 

 1) Salaried person with a registered company 

2) Validated self-employed with credentials and audited financials 

3) Employed in government or public sector 

The above shows that the higher your income, the more likelihood of approval, and the type of income may influence your credit limit as well.

1. Good Credit Score: Most banks prefer to deal with a healthy credit history and a CIBIL Score of over 750. Applicants with no credit are typically looked at but can expect lower limits at startup. 

1. No Recent Defaults: No recent defaults, settlements or delinquencies on existing credit obligations. If you can show good repayment behaviour, this can be very helpful in getting approval.

Documents Required for the PSB SimplySAVE SBI Card

Applicants are required to submit standard KYC documents for identity, address, income and verification. These documents should consist of: 

Proof of Identity (any one of the following): 

1. PAN Card (mandatory) 

1. Aadhaar Card 

1. Passport 

1. Voter ID 

1. Driving Licence 

Proof of Address (any one of the following): 

1. Aadhaar Card 

1. Passport 

1. Utility Bill (Electricity, Water or Landline Bill - not older than 3 months) 

1. Registered Rental Agreement 

Proof of income: 

1. Salaried - latest salary slips (last 2-3 months), Form 16 or bank statements  

1. Self-employed - ITR documents, financials certified by CA or business bank statement 

1. Passport Size Photograph 

1. Recent coloured photograph with white background. 

Note: Make sure that the copies are self-attested and readable. The bank may ask for more documents based on your profile, employment type, or City.

How to Apply for PSB SimplySAVE SBI Card 

There are two ways to apply for the PSB SimplySAVE SBI Card, namely, online or offline. Both can be done easily by the applicants, who can choose which method is most suitable for them. 

Online Application Process

The online application process is a simplistic, paperless process, and is convenient for candidates who have access to the Internet and electronic documentation. 

1. Visit the SBI Card Website: Head over to the PSB SimplySAVE SBI Card home on the SBI Card website.  

1. Click 'Apply Now': You will be prompted to fill in an application form, where you fill in your personal details along with employment and financial details. 

1. Enter Your Details: You will be asked to fill in your full name, date of birth, and your phone number, email ID, your current address, your income information, and PAN. 

1. Upload KYC Documents: You will be required to scan and upload documentation required for KYC, which would include PAN card, Aadhaar, proof of income, and a photograph. You should check that all file sizes and formats are in line with the requirements of the portal. 

1. Complete e-KYC Verification: You may be asked to also go through e-KYC using Aadhaar OTP verification, or through Video KYC, if necessary. 

1. Submit the Application: Once all details have been provided, and the KYC documents uploaded, click submit. You will be given a reference number that you can use to check your application status. 

1. Wait for verification and approval: Once you've submitted your application, the SBI Card team will assess your application. If it is found to be correct, approval will be processed, and the card will then be sent to the address on record within 7-10 working days.

Offline Application Process

If you would like to apply in person, or if you need assistance, you always apply through Punjab & Sind Bank branches. 

1. Visit a PSB branch: Go to your nearest Punjab & Sind Bank branch and ask for an application form for the PSB SimplySAVE SBI Card (it will be a standard SBI form). 

1. Manually fill in the form: Fill in the form with your required personal, employment, and financial information. 

1. Attach KYC documents: Enclose photocopies of the below (self-attested), including a PAN card, address proof, proof of income, and a passport sized photo. 

1. Submit to a bank executive: Give the application form as well as KYC documents to the bank officer. They may wish to see the original documents to verify and will keep photocopies. 

1. Application Approval: The bank officer will then send the application to SBI Card for processing and approval. 

1. Card Dispatch: Once the application is approved, the card will then be sent to your address (if all your information is verified). You will also receive SMS/email messages concerning your application status. 

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