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  • Credit Card BYTES FROM OUR KITCHEN

    SBI Lifetime Free Credit Card

    There are many companies and banks in India who offer credit cards without an annual fee (or popularly known as the lifetime free cards). But picking the right card based on your lifestyle needs turns out to be a daunting task. However, talking about SBI (State Bank of India) in specific, they not only have a set of categories to match the lifestyle needs of different individualities but also offer a few credit cards that are free for life.

    Note: Understand that the option of “lifetime free” scheme on any SBI credit card does have an annual fee. The annual charge is generally Rs.499, which can be reversed if you spend a particular amount within the course year. When this happens, they usually say that there is no annual fee. However, the fact is that the card does have an annual charge and can only be reversed if you meet the requirements as stated by the bank.

    So, let’s see in detail what credit cards are offered as lifetime free by the SBI.

    SBI Lifetime Free Credit Cards

    SBI currently offers 3 credit cards that are free for a lifetime (or no annual fee credit cards). These include:

    SBI Simply Save Credit Card

    The SBI Simply Save Credit Card is designed for users who are looking for good deals on entertainment, fuel, dining, and grocery. Make a note that this credit card does not earn high points with online purchases. Therefore, use this card mostly when you are dining out, watching movies, and purchasing groceries.

    Features & Benefits of Lifetime Free SBI Simply Save Credit Card

    • It offers a cashback of Rs.100 when you withdraw the amount from an ATM for the first time. However, this has to be done within 30 days of receiving the card.
    • It offers a fuel surcharge of 1% at any petrol pump in India, given that the transaction amount is between Rs.500 and Rs.3,000.
    • The card can be used at 24+ million outlets in the world and 3,25,000+ outlets within India.
    • With the option of FlexiPay, the transactions can be converted to EMIs.
    • With EasyMoney, you can easily receive a cheque or draft against the cash limit and have it delivered to your doorstep.
    • The utility bills can be paid in no time.

    Rewards of Lifetime Free SBI Simply Save Credit Card

    • You get 2,000 reward points as a bonus if you spend Rs.2,000 in the first 60 days of the credit card purchase.
    • You get a value back of upto 2.5%.
    • You get 10× accelerated reward program for every Rs.100 that is spent on movies, dining, departmental and grocery stores.
    • You will earn 1 reward point for every Rs.100 that is spent on the card.
    • The accrued reward points can be redeemed for various gifts.

    Fees and Charges of Lifetime Free SBI Simply Save Credit Card

    Type of fee Charge
    Joining fee Rs.499
    Annual fee Rs.499, which is reversible from the second year onwards
    Add-on charges Free
    Interest-free period 20 to 50 days
    Finance charges 2.5% per month (30% per year)
    Cash advance limit 80% of the credit limit (Rs.12,000 maximum per day)
    Cash advance fee 2.5% of the total transaction amount (Rs.300 minimum)
    Fee for cheque pickup Rs.90
    Statement retrieval fee Rs.100 for each statement
    Charge slip retrieval fee Rs.225
    Late payment charges
    • If the total credit card bill is from Rs.0 to Rs.200, there is no penalty.
    • If the bill amount is from Rs.200 to Rs.500, the penalty is Rs.100.
    • If the bill amount is from Rs.501 to Rs.1000, the penalty is Rs.400.
    • If the bill amount is from Rs.1,001 to Rs.10,000, the penalty is Rs.500.
    • If the bill amount exceeds Rs.10,000, the penalty is Rs.750.
    Over limit fee 2.5% of the over limit amount (minimum Rs.500)
    Card replacement fee Rs.100
    FTF (Foreign Transaction Fee) 3.5%
    Cash payment charge Rs.100

    Note: To ensure that you get the “no annual fee/lifetime free” offer, you should spend Rs.90,000 on the card in the previous year. If this requirement is not met, the bank will charge Rs.499 annually.

    SBI Unnati Credit Card

    The SBI Unnati Credit Card is a great option for beginners or first-time users. Though the annual fee is Rs.499, it is free for the first four years. This means that it is a Zero Fee Credit Card for the initial 4 years. However, the reward rates are low when compared to its variants.

    Features & Benefits of Lifetime Free SBI Unnati Credit Card

    • The SBI Unnati Credit Card can be used at 24+ million outlets in the world.
    • It can be used at more than 3,25,000 stores in India.
    • It offers 1% fuel surcharge waiver, given that the transaction amount is between Rs.500 and Rs.3,000.
    • It offers the option of transferring any other credit card outstanding balance to this card for a low interest rate, which can be paid in EMIs.
    • It helps you save a good amount of money while paying off the credit card dues.
    • With the help of EasyMoney, you can easily receive a cheque or draft against the cash limit and have it delivered to your doorstep.
    • The utility bills can be paid in no time.

    Rewards of Lifetime Free SBI Unnati Credit Card

    • You can earn 1 reward point for every Rs.100 that is spent with the card.
    • The accumulated reward points can be redeemed for exciting gift vouchers that are mentioned in their official catalog.
    • It offers milestone rewards too. It gives you a cashback of Rs.500 if you spend Rs.50,000 in a year.

    Fees and Charges of Lifetime Free SBI Unnati Credit Card

    Type of fee Charges
    Annual fee Free for the first four years
    Renewal fee Rs.499 from the fifth year onwards
    Add-on card charges Nil
    Interest-free period 20-50 days
    Finance charges 2.5% per month (30.0% per year)
    Cheque pickup fee Rs.90
    Statement retrieval fee Rs.100 for each statement
    Charge slip fee Rs.225
    Late payment charges
    • If the total credit card bill is from Rs.0 to Rs.200, there is no penalty.
    • If the bill amount is from Rs.200 to Rs.500, the penalty is Rs.100.
    • If the bill amount is from Rs.501 to Rs.1000, the penalty is Rs.400.
    • If the bill amount is from Rs.1001 to Rs.10,000, the penalty is Rs.500.
    • If the bill amount exceeds Rs.10,000, the penalty is Rs.750.
    Over limit fee 2.5% of the actual over limit amount
    Card replacement fee Rs.100
    FTF (Foreign Transaction Fee) 3.5% of the transaction amount
    Fee to redeem the rewards Rs.99
    Fee for cash payment Rs.100

    SBI Simply Click Credit Card

    The SBI Simply Click Credit Card is exclusively designed for users who love to shop at both online and physical stores. Though the annual fee is Rs.499, it is reversible from the second year, given that you have spent Rs.1 lakh in the last year. Besides this, the card also offers multiple features, benefits, and other attractive deals at various online stores like Amazon, MakeMyTrip, Flipkart, ClearTrip, etc.

    Features and Benefits of Lifetime Free SBI Simply Click Credit Card

    • There are special gift vouchers at the time of joining.
    • The offers and rewards are decent.
    • The fee is low.
    • There is a waiver on fuel surcharge.
    • It comes with contactless technology.
    • It offers Rs.500 worth Amazon Gift Card at the time of joining.
    • It offers 40% discount on UrbanClap if you are using it for the first time.
    • It offers Rs.600 off when booking with Zoomcar on bookings made over Rs.2,500.
    • The card can be used at 24+ million outlets in the world and 3,25,000+ outlets within India.
    • With the option of FlexiPay, the transactions can be converted to EMIs.
    • With EasyMoney, you can easily receive a cheque or draft against the cash limit and have it delivered to your doorstep.
    • The utility bills can be paid in no time.
    • The card has an inbuilt feature of contactless technology, meaning that you just have to wave your credit card at the reader and the transaction is done in seconds.

    Rewards of Lifetime Free SBI Simply Click Credit Card

    • The reward rate varies from 0.25% to 2.5%.
    • It offers 5× accelerated reward program for every Rs.100 that is spent on e-commerce platforms.
    • It offers 10× accelerated reward program when the card is used for Amazon, ZoomCar, BookMyShow, etc.
    • You get an e-voucher that is worth Rs.2,000 for bookings above Rs.1 lakh made via ClearTrip.
    • You will earn 1 reward point for every 100 rupees that are spent through the card.
    • The accrued reward points can be redeemed for various gifts.

    Fees and Charges of Lifetime Free SBI Simply Click Credit Card

    Type of Fee Charges
    Joining/annual fee Rs.499 for the first year
    Add-on card charges Nil
    Interest-free duration 20 to 50 days
    Finance charges 3.35% per month (40.2% per year)
    Cash advance limit 80% of the credit limit (Maximum Rs.12,000 per day)
    Cash advance fee 2.5% of the total transaction amount (Rs.300 minimum)
    Fee for cheque pickup Rs.90
    Statement retrieval fee Rs.100 for each statement
    Charge slip retrieval fee Rs.225
    Late payment charges
    • If the total credit card bill is from Rs.0 to Rs.200, there is no penalty.
    • If the bill amount is from Rs.200 to Rs.500, the penalty is Rs.100.
    • If the bill amount is from Rs.501 to Rs.1000, the penalty is Rs.400.
    • If the bill amount is from Rs.1001 to Rs.10,000, the penalty is Rs.500.
    • If the bill amount exceeds Rs.10,000, the penalty is Rs.750.
    Over limit fee 2.5% of the over limit amount (minimum Rs.500)
    Fee for card replacement Rs.100
    FTF (Foreign Transaction Fee) 3.5% of the transaction amount
    Fee for reward redemption Rs.99
    Cash payment charge Rs.100

    Note: The annual fee from the second year onwards is reversible, provided that you have spent Rs.1,00,000 in the previous year. Else, you have to pay the annual fee of Rs.499.

    How To Apply For Lifetime Free SBI Credit Cards Online?

    • Step 1: Go to the official website of the SBI (https://www.sbicard.com/).
    • Step 2: From the menu, choose Credit Cards. Under that click the button Apply Now.
    • Step 3: From the list of credit cards, choose the one suiting your lifestyle needs.
    • Step 4: Fill all the required information. Click submit.
    • Step 5: Once the details are verified, a representative from the bank will call you and assist you with the further process.

    Important FAQS On SBI Credit Cards

    1. What are the options for redeeming the rewards?

    The accrued reward points can be easily redeemed for:

    • Gift vouchers
    • Cashback

    2. Is there a charge for redeeming the reward points?

    Yes. The fee for redeeming the reward points is Rs.99 + taxes.

    3. How long are the reward points valid?

    The accumulated reward points are valid only for 24 months. The rewards that are not redeemed within this duration will expire.

    4. Can you redeem the rewards once the SBI Credit Card is closed?

    There is no way that you can redeem the reward points once the card card account is closed.

    5. How is the interest rate calculated?

    It depends on the finance charge and total due amount.

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