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

    You can get the SBI Student Plus Advantage Card which is a credit card issued by the State Bank of India (SBI) to you if you have availed an education loan from the lender. You do not have to pay any annual or joining fee in order to get this credit card issued.

    Some of the privileges you can enjoy on SBI Student Plus Advantage Card

    • The bank will issue this card to you only if you have availed an education loan from them.
    • You can get this credit card against a fixed deposit at any SBI branch.
    • For every Rs.100 spent by you, you will earn one reward point.
    • You can use the reward points to pay your outstanding credit card bill.
    • You will enjoy 2.5% fuel surcharge waiver at any petrol pump.
    • You must make a make a transaction between Rs.500 and Rs.3,000 in order to enjoy the fuel surcharge waiver.
    • You do not have to pay any annual fee for the second year if you spend above Rs.35,000 using your card in your first calendar year.

    Features of SBI Student Plus Advantage Card

    Some of the features of this credit card are:

    • You can enjoy up to 2.5% cash back as you will get 10X reward points if you use credit card for grocery and departmental store purchases.
    • You will get 10X reward points for every purchase made abroad.
    • You can withdraw cash from over 1 million Visa and MasterCard ATMs.
    • You can withdraw up to 80% of your cash withdrawal limit.
    • Your credit card can be used for making international purchases and can be used in over 24 million outlets all over the globe including 3,25,000 Indian outlets.
    • If you are aged 18 years and above and have availed an education loan from SBI, then you can also get the SBI Student Plus Advantage cards issued for other members of your family.
    • If you are below the age of 18 years, then you will be provided with an add-on credit cards and the primary credit card will be issued in the name of one of your parents.
    • You can book your rail tickets online from IRCTC website and get the tickets delivered to your home.
    • You can use the credit card to pay your utility bills.
    • You can transfer the outstanding bills of your other credit cards to your SBI Student Plus Advantage Credit Card and pay the amount at a lower interest rate and pay the amount in EMIs.
    • You can use the Flexipay facility to convert your spending into EMIs. If you have carried out a transaction worth Rs.2,500 or more using this credit card, log on to sbicard.com within 30 days of the transaction and convert the same to Flexipay.
    • You can use the EasyMoney facility where you can get a cheque or draft against your cash limit and get it delivered to your home.

    Fees and Charges

    Extended Credit

    • You can enjoy an interest-free credit period ranging between 20 and 50 days applicable on making retail purchases and if the previous month’s credit card bills are paid.
    • Finance charges up to 2.25% per month which amount to a total of 27% p.a. + EMIs in case you have availed a loan from the bank.
    • Minimum amount due can be 5% of the total outstanding amount (minimum of Rs.200 + taxes + EMI (in case if you have availed an EMI based product) + OVL amount (if any)).

    Cash Advance

    • Cash advance limit of up to 80% of the credit limit and a maximum of Rs.12,000 per day.
    • There will be no free credit period.
    • Finance charges up to 2.25% per month which amount to a total of 27% p.a. from the withdrawal date.

    Cash advance fee

    • In case of a withdrawal from an SBI ATM or other ATMs, you will be charged 2.5% of the transacted amount subject to a minimum of Rs.300.
    • In case of a withdrawal from international ATMs, you will be charged 3% of the transacted amount subject to a minimum of Rs.300.

    Surcharge

    • In case of railway tickets booked from the counter using the credit card, a surcharge of Rs.30 + 2.5% of the transaction amount will be charged.
    • If you book your railway tickets from the IRCTC website using the credit card, then a surcharge of 1.8% of transaction amount + service charge will be applicable.
    • In case of custom duty payments, you will be charged 2.25% of transaction amount, subject to a minimum of Rs.75.

    Other charges

    Type of Fee Amount
    Annual Fee Nil
    Joining Fee Nil
    Renewal Fee Rs.500 applicable only if the total spending is below Rs.35,000 in the previous calendar year
    Cheque pick-up Rs.90
    Payment Dishonor fee 2% of the payment amount, subject to a minimum of Rs.350
    Statement retrieval Rs.100 per statement
    Charge slip retrieval Rs.225 per charge slip
    Late payment
    • Nil for total amount due from Rs.0 to Rs.200.
    • Rs.100 for amount more than Rs.200 and up to Rs.500.
    • Rs.400 for amount more than Rs.500 and up to Rs.1,000.
    • Rs.500 for total amount more than Rs.1,000 and up to Rs.10,000.
    • Rs.750 for total amount more than Rs.10,000.
    Overlimit 2.5% of overlimit amount subject to a minimum of Rs.500
    Card replacement Rs.100
    Emergency card replacement, when abroad Minimum $175
    Foreign currency transaction 3.5%
    Rewards redemption fee Rs.99
    Cash Payment fee Rs.100

    How to apply for an SBI Student Plus Advantage Card

    You will have to visit the nearest SBI branch along with all the relevant documents in order to apply for this credit card. You are eligible for this credit card if you have availed an education loan from the bank.

    SBI Student Plus Advantage Card FAQs

    1. What is a cash point?

      Cash point is a point you will earn as a reward every time you use the SBI Student Plus Advantage Card. You can use the points as rewards for various purposes including clearing your outstanding credit card bills.

    2. How can I encash my credit card cash points?

      You can encash your credit card cash points by calling the SBI helpline number and getting in touch with a SBI Credit Card customer care executive. Simply request for encashing your cash points and it will be credited to your card.

    3. What is the minimum number of cash points I must accumulate before encashing it?

      You must accumulate at least 2,000 cash points before encashing them.

    4. I did not avail an education loan from SBI. Can I still avail this credit card?

      No, you cannot avail this credit card if you have not avail an education loan from the bank.

    5. How can I get information about my credit card through SMS?

      You can get information related to your credit card by simply sending an SMS to 5676791 from your registered mobile number. There is a pre-format SMS you will have to send depending on the type of inquiry you have. The format in which you will have to send the SMS for different inquiries are given in the table below:

      Kind of information needed Send an SMS to 5676791
      Balance enquiry BAL XXXX
      Available credit and cash limit AVAIL XXXX
      Block your stolen or lost card BLOCK XXXX
      Status of your last payment PAYMENT XXXX
      Summary of your reward point REWARD XXXX
      Subscribe to e-statement ESTMT XXXX
      Request for duplicate statement DSTMT XXXX MM (Statement Month in MM)

    Note: Here XXXX is the last 4 digits of your credit card

      

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