Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Advantage Plus credit card by the State Bank of India is a basic card offered to the customers who are looking to get their first SBI credit card. This card comes at a minimum annual fee and joining fee and is specially curated for all your shopping needs. The card is accepted worldwide and offers several other benefits as well.
The credit limit for the SBI Advantage Plus card is given at the discretion of the bank. The State Bank of India assesses a number of factors before assigning the credit limit such as the credit score of the primary applicant, the credit report, the annual income along with the repayment habits of any past and ongoing debts.
| Type of Charge | Amount |
|---|---|
| Annual fee | Rs.500 |
| Minimum amount due | 5% of the total outstanding amount subjected to a minimum of Rs.200 |
| Add-on card fee | Nil |
| Finance charges | 2.25% per month |
| Interest-free credit period | 20-50 days |
| Cash advance fee at SBI ATMs or other ATMs | 2.5% of the transaction amount subject to a minimum of Rs.300 |
| Payment dishonour fee | 2% of the payment amount subjected to a minimum of Rs.350. |
| Renewal fee | Rs.500 |
| Cash advance limit | Up to 80% of the credit limit |
| Charge slip retrieval | Rs.225 per charge slip |
| Cheque pickup fee | Rs.90 |
| 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.500 More than Rs.10,000 - Rs.750 |
| Statement retrieval | Rs.100 per statement |
| Foreign currency transaction | 3.5% |
| Cash advance fee at international ATMs | 3% of the transaction amount subjected to a minimum of Rs.300. |
| Card replacement | Rs.100 |
| Cash payment fee | Rs.100 |
| Railway ticket fee | 1.8% of the transaction cost + GST |
| Fuel surcharge | 2.5% of the fuel purchase amount |
| Rewards redemption fee | Rs.99 |
| Emergency card replacement, when abroad | $175 |
You can apply for the SBI Advantage Plus credit card through online or offline methods. To apply for the card offline, you can either contact the SBI customer care or visit the nearest branch of SBI
However, if you wish to apply for a credit card online, you must visit the website of the State Bank of India and click on the option of 'Apply'.
You will then have to fill a form with your details such as:
SBI will get in touch with you regarding further formalities for the procedure of application once you submit the required documents.
Balance Transfer facility can be availed for all the different credit cards offered by various banks in India.
You will be billed for your Flexipay as a part of your monthly statements. The first installment that you must pay for availing Flexipay facility will be there on your card statement after you book the facility.
No, add-on cardholders cannot use the Easy Money Facility. Only the primary cardholder can avail Easy Money.
No, you can avail Balance Transfer facility will only one SBI card that you own.
Encash can be booked by you in two different ways. These are as follows:
Yes, a penalty of 2% of Cheque dishonour amount is charged for a Cheque Bounce.
Minimum amount due includes the following:
5% of Total Outstanding balance or a minimum amount of Rs. 200 (whichever is higher) + GST + EMI on loans (if any).
The steps to be followed to apply for an SBI Advantage Plus Credit Card are:
The cardholder will have to pay EMI for 11 consecutive months and will be billed according to the amount he/she has used through the Encash facility. The customer will have to pay a monthly EMI of Rs. 2,500 EMI for Rs. 25,000 encashed as FD or pay an EMI of Rs. 5,000 per month for Rs. 50,000 encashed on the card.
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