Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • SBI Signature Contactless Credit Card

    The SBI Signature Contactless Credit Card is a premium lifestyle credit card brought to you by the State Bank of India (SBI). The one-time annual fee for the card is Rs.4,999 and it has a renewal fee of Rs.4,999 per annum.

    Key Highlights of the SBI Signature Contactless Credit Card

    • Get a welcome gift of worth Rs.5,000 with the SBI Signature Contactless Credit Card.
    • Avail Complimentary movie tickets through Book My Show.
    • Enjoy the benefits of exclusive concierge services.
    • Complimentary Elite Priority Pass program worth $99 available with the SBI Signature Contactless Credit Card.

    Features and Benefits of the SBI Signature Contactless Credit Card

    Welcome Benefits

    • Avail a welcome gift worth Rs.5,000 with your SBI Signature Contactless Credit Card. You can avail the vouchers from any one of these brands: Yatra.com, Hush Puppies or Bata, Marks and Spencer, Westside, or Shoppers Stop.

    Spending-based Benefits

    • Earn 2 reward points for every Rs.100 spent on the SBI Signature Contactless Credit Card.
    • Earn 5x reward points on using the SBI Signature Contactless Credit Card for Dining, Grocery, Departmental Stores, Grocery, and International transactions.

    Reward Benefits

    Earn additional Bonus Reward Points on spending as per the bank’s prescribed margins:

    • Earn 10,000 bonus points on spending Rs.3 lakh and Rs.4 lakh annually.
    • Earn 50,000 bonus points worth Rs.12,500 per year.
    • Earn 15,000 bonus points on spending Rs.5 lakh and Rs.8 lakh annually.

    Lifestyle Benefits

    • Get a discount of Rs.500 per month on Book My Show.
    • Emergency Card Replacement benefits available with the SBI Signature Contactless Credit Card
    • Avail the benefits of 24x7 Concierge services with the SBI Signature Contactless Credit Card.
    • Avail exclusive benefits at more than 900 luxury hotels across the world

    Travel Benefits

    • Avail the benefits of complimentary airport lounge access at airport lounges across the country through the Visa Lounge Program
    • Get access to more than 600 airport lounges across the world with the Priority Pass Program
    • Avail the Priority Pass Program as a complement along with the SBI Signature Contactless Credit Card

    SBI Signature Contactless Credit Card Limit

    The credit limit on credit cards is decided by the bank and may vary from applicant to applicant. The banks take a number of factors into consideration before dispatching a credit card for an applicant. The major factors which are considered in this case are the credit score, repayment history, existing loans, etc. The credit limit for a credit card is subject to the discretion of the bank.

    Fees and Charges of the SBI Signature Contactless Credit Card

    Type of Charge Fee
    Joining Fee Rs.4,999
    Annual Fee Rs.4,999
    Credit card finance charge 3.5% on all unsecured SBI Credit Cards (except Shaurya)
    Minimum amount due each month 5% of total outstanding amount or Rs.200 + taxes, whichever is higher
    Interest fee period 20 to 50 days
    Finance charge on cash advance For domestic cash withdrawal, a fee of 2.5% or Rs.500 (whichever is higher)
    Statement retrieval Rs.100 per statement – for statements more than 2 months old
    Late Payment Fee
    • Up to Rs.500 Nil
    • Rs.501 to Rs.1,000-400
    • Rs.1001 to Rs.10,000-750
    • Rs.10,001 to Rs.25,000-950
    • Rs.25,001 to Rs.50,000-1,100
    • More than Rs.50,000-1,300
    Over limit fee 2.5%
    Card replacement fee – domestic Rs.100 to Rs.250

    SBI Signature Contactless Credit Card Eligibility

    • As per the requirement of State Bank of India (SBI).

    Documents Required to Apply for the SBI Signature Contactless Credit Card

    Once you have checked your eligibility for the SBI Signature Contactless Credit Card, the credit application is generated. The documents required for the application for the credit card application are subject to the requirement of State Bank of India (SBI). However, there are some documents which are to be produced in general for the application of a credit card. These may be summed up as follows:

    • Proof of Address
      • Ration Card
      • Passport
      • Voter ID
      • Aadhaar card
    • Identity Proof
      • Driving Licence
      • Passport
      • Aadhaar card
    • Income Proof
      • Form 16
      • IT Returns
      • Salary Slip

    As mentioned earlier, the document requirement will be subject to the bank’s discretion. The documents mentioned above are indicative and an applicant might be required to provide other documents as well, as per the requirement of the bank.

    SBI Signature Contactless Credit Card FAQs

    1. If I have two contactless credit cards in my wallet and wave or dip it over a POS terminal, will I be charged on both the cards?

      No, you will not be charged on both the cards. The payWave feature allows you to establish a contact between the POS terminal and only one card at a time. Since the terminals cannot establish more than one contact at a time, if you have 2 or more cards with the contactless feature, the terminal will ask you to choose the credit card that you want to use to make the payment.

    2. Can I withdraw cash using my SBI Signature Contactless Credit Card?

      Yes, you can withdraw cash using your SBI Signature Contactless Credit Card from an ATM. However, the bank will charge a fee for the same.

    3. How many times can I use my SBI Signature Contactless Credit Card for a contactless payment?

      You can use the SBI Signature Contactless Credit Card to make as many contactless payments as you want. However, it should be kept in mind that the limit for the payment is capped at Rs.2,000 per transaction.

    4. What happens if I try to use the contactless feature on my SBI Signature Contactless Credit Card for an amount of more than Rs.2,000?

      If you try to make a payment of more than Rs.2,000 using the contactless feature of the SBI Signature Contactless Credit Card, the POS terminal will ask for the PIN.

    5. Can I change the limit of the maximum transaction limit for the payWave feature on my SBI Signature Contactless Credit Card?

      No, the contactless or the tap and pay feature of the Visa payWave cards is set in general. It is set at the rate of Rs.2,000 per transaction and cannot be altered by the users.

      

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