State Bank of India (SBI) offers the SBI Platinum Corporate Card that provides exclusive privileges to its customers. Individuals will be able to organise as well as track their expenses with the help of the spend management tool.
The user-friendly dashboard also helps individuals to access various details of the card easily and helps in saving time. The card comes with an insurance cover that is complementary and covers the organisation's liability in case of any frauds.
Features and Benefits of SBI Platinum Corporate Credit Card
The spend management tool, known as Visa Intellilink, allows the organisation to analyse the spending pattern and helps in controlling the expenses in a better way. This will also help in avoiding budget cuts.
The SBI cardholder has easy access to his/her expenses. This can help in avoiding breaches as well as to ensure that compliance is followed.
Snapshots of key information can be taken with the help of the dashboard facility.
Tracking facility is provided on a category-wise basis so that organisations can negotiate better terms and rates with suppliers and vendors.
Replacement of card on an emergency basis
The card can be replaced from anywhere in the world.
The card will be replaced within 72 hours or sooner sometimes.
No charges are levied for delivering the card.
The process to receive the card is very convenient and simple. Individuals will need to call the SBI Card helpline or Visa GCAS helpline to replace the card.
Cash disbursement on an emergency
Within 24 hours, individuals will have access to cash in case of any emergencies.
PIN and Chip benefits
The security features that are provided with the card ensures that all transactions made abroad or in India are secure.
The cards come with an embedded EMV chip and a personal identification number that must be entered by the cardholder for any transactions.
Protection against counterfeit and frauds are provided by this feature.
Priority Pass Program
Individuals can easily become a part of the priority pass program by paying an annual fee of Rs.180 plus any taxes that are applicable.
$27 plus applicable charges will be the usage fee that will be charged.
Access is provided to over 600 airport lounges all over the world.
Services on a 24X7 basis
In case of any support or assistance, a dedicated team of Relationship Managers and Service Desk Executives are present.
Emergency cash can be accessed all around the world.
In case the card is stolen, it is very easy to block the card.
Limit Control: Monthly, weekly, or daily limits can be set so that any spending can be within the prescribed limits.
Category control: Individuals can restrict the usage of the card for the purposes of buying jewellery, spending in casinos, etc. This way, individuals can restrict card access to such merchants.
Visa Lounge Access Program
SBI Platinum Corporate Card customers will have lounge access at all airports that come under the Visa Lounge Access program. However, individuals will need to provide the card as well as the boarding pass to access these facilities.
A maximum of 2 visits in a quarter is allowed for SBI cardholders.
Apart from the 2 complimentary visits, unrestricted access is provided to the cardholder and any guests they are accompanied with. However, these visits will be chargeable.
The two types of insurance covers that are provided by SBI Platinum Credit Card are mentioned in the tables below:
The sum assured is Rs.50 lakhs in case baggage is lost.
In case of loss of passport, the sum assured will be up to Rs.12,500.
The sum assured will be up to Rs.7,500, in case there is a delay in baggage.
The sum assured will be up to Rs.15,000 in case there is a flight delay.
Lost card liability
The sum assured will be up to Rs.3 lakh in case of any misuse of the card 48 hours before notification and 7 days after notification.
Sum assured will be up to Rs.2 lakh in case of any fraud such as online frauds, skimming, and counterfeit.
Air accidental death
In case the ticket is purchased by using the SBI Platinum Corporate Credit Card, the sum assured will be Rs.50 lakh.
Fraud Related Insurance
Corporate level cards
Will be equal to the credit limit that is offered by the card. However, the maximum amount can be Rs.2 lakh.
Individual level cards
The cover can be a maximum of Rs.60 lakh as per corporate entity.
Various factors such as the credit score, credit report, and annual income are considered by the bank when determining whether the individual is eligible for the credit card. The company the individual works for also plays an important role in determining whether the individual is eligible for a credit card. The ideal eligibility criteria for the credit card is mentioned below:
The primary applicant's age must be between 18 years and 70 years, respectively.
The individual must be an Indian citizen.
In case there is an add-on applicant, he/she must be above 15 years old.
Documents Required for SBI Platinum Corporate Card
The documents that must be submitted when applying for an SBI Platinum Credit Card are mentioned below:
Permanent Account Number (PAN) Card
Identity Poof: Any of the below mentioned documents can be submitted as a proof of identity:
Income Proof: Any of the below documents can be submitted as a proof of income:
Latest Income Tax Return Form
Address Proof: Any of the below documents can be submitted as an address proof:
Procedure to Apply for SBI Platinum Corporate Credit Card
Individuals will be able to enquire about the SBI Platinum Corporate Credit Card on the official website of SBI. Various company details such as the name of the company, the company's turnover, the city, and the annual living and travel expenses of the individual must be entered.
The individual must provide his/her contact details as well. Once all the details are submitted, the individual will be contacted by an SBI representative.
SBI Corporate Platinum Credit Card FAQs
Does the SBI Corporate Platinum Card offer any surcharge waiver for fuel transactions?
SBI Corporate Platinum Card holders can get a maximum waiver of 2.5% on surcharge or a minimum amount of Rs 10, when they make fuel purchases for any amount ranging between Rs 500 and Rs 4000. The maximum surcharge waiver permitted for a single credit card account is Rs 250.
What is the order of payment settlements done for a SBI Corporate Platinum Card?
SBI follows the below given order while accepting payment settlements for a SBI Corporate Platinum Card:
Total Amount Due
Other Fees and charges
Outstanding retail amounts
Can rewards points accrued on a SBI Corporate Platinum Card be converted to cash, credit or for paying any charges?
No, accumulated rewards points cannot be converted into cash, credit and cannot be used to make payments towards transactions done using the SBI Corporate Platinum Card.
What are the exclusions under the Employee Fraud Insurance Cover?
The following transactions are excluded under the Employee Fraud Insurance Cover:
Purchase transactions done using a lost or stolen card will be excluded.
Credit Card transactions done without a second level of authentication as mandated by The Reserve Bank of India, inclusive of online and IVR transactions are not covered.
What should I do in case my SBI Corporate Platinum Card is stolen or lost?
Customers should immediately contact the 24/7 SBI Credit Card Customer Care and report the loss of card. SBI would instantly block the card account to prevent any fraudulent usage.
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