SBI Unnati Credit Card

State Bank of India (SBI) has launched a new credit card called the Unnati card. The Unnati card is provided to an account holder who holds an account balance of Rs.25,000 or more. SBI is not planning to charge any annual card fee for the first four years. Additionally, the card offers a host of benefits. From using the card at over 24 million outlets to attractive reward points, Unnati card can be the perfect solution to individuals who wish to use a credit card for basic necessities such as paying utility bills, making payments, shopping, etc. SBI is looking at making the application process as simple as possible for the convenience of the common man. If an application has been received for a Unnati card, the bank will use the KYC documents for approving the application, the bank won't require any underwriting or history of bank balance.

How Does SBI Unnati Credit Card Works

SBI will issue the Unnati card backed by bank deposits for the first 12 months. Once the period is over, the bank will free the deposit. This initiative will promote financial inclusion and let the middle, as well as lower income account holders, to build their credit score. Once the account holder completes the first four-year waiver, the card will have an annual fee of Rs.499. The cardholder can avoid the annual fee by meeting the minimum required amount of transaction applicable for each year. The card has been designed and targeted to meet basic credit needs. Upon usage, the card owner will get one point per Rs.100 spent across various outlets, however, there are no reward points for fuel transactions, cash advance, encash, balance transfer, etc. The cardholder is also entitled to a maximum surcharge waiver of Rs.100 per statement cycle.

Benefits of SBI Unnati Credit Card:

• The card offers cardholders 1% fuel surcharge waiver on fuel spends between Rs.500 and Rs.3,000.
• Attractive rewards program where you can earn 1 Reward Point for Rs.100 spent on the card.
• Receive cashback of Rs.500 if spending crosses Rs.50,000 per year on the card.
• No annual fee for the first 4 years.
• The card is free for the first four years as the annual fee is waived off.
• Eligible for reward points when the card is used. The rewards can be redeemed later against a wide range of gifts.
• 1 percent of fuel surcharge fee waived for each fuel purchases transaction between Rs.500 and Rs.3000.
• Issued to individuals based on the fixed deposit with SBI which can be in the range from Rs.25,000 to Rs.5 lakh.

Additional Benefits of SBI Unnati Credit Card

There are over 3,25,000 outlets in India that will accept the Unnati card. The cardholder can also request for an add-on card for his/her family members. When an individual applies for a credit card or a loan, most banks will be looking into the credit report or the credit score, however, SBI is all set to change the trend in the credit market. With a diverse range of benefits, Unnati card will be one of the ideal credit cards that be easily obtained without any hassle.

Features of SBI Unnati Credit Card:

The SBI Unnati credit card offers cardholders the following features:

• Accepted across over 24 million merchant outlets across the world.
• Avail add-on cards for family members such as parents, children over the age of 18 years, siblings or a spouse.
• Convert expenses charged to your card into Flexipay to ease repayment for spends above Rs.2,500. Simply convert your outstanding payments above Rs.2,500 into EMI’s to make paying off your dues more manageable.
• Can be used to withdraw cash from over 1 million Visa or MasterCard ATMs.
• Pay utility bills using the card.
• Enables the user to transfer the outstanding balance of other credit cards to SBI card Unnati.
• Allows the users to convert transactions into easy EMIs.
• Users can get a draft or cheque against the cash limit.

How to Apply for SBI Unnati Credit Card Online?

If you wish to apply for an SBI Unnati credit card, you can do so in the following ways:

• Visit the nearest SBI branch and fill out an application form and provide the required documents.
• Call the SBI helpline for assistance on the application process.

Fees and Charges of Sbi Unnati Credit Card

Eligibility Criteria for SBI Unnati Credit Card:

The eligibility criteria for the SBI Unnati credit card are based on the applicant’s age, employment and other factors. Please contact the bank for eligibility criteria specific to the credit card.

SBI Offers Credit Card For Individuals Without Credit History

We all know that while applying for a credit card an individual needs to have a good credit history without which it becomes difficult to get one. In a bid to address this issue, the country’s largest public sector bank has come up with an initiative under which individuals without any credit history or those new to the credit will be provided with ‘SBI Unnati’ credit card provided they have a minimum fixed deposit of Rs.25,000 with the bank.