Overview of State Bank of India Premium Debit Card
The State Bank Premium is tailor made to meet all the financial demands of a business and personal expenses. The Debit Card offers great control over expenses and attractive features. Features include high transaction limits, SMS Alerts, complimentary insurance and much more. Card holders can also take part in the State Bank Debit Card Loyalty Program and avail FreedomRewardz.
Features and Benefits of SBI Premium
|State Bank Premium||Domestic (in Rs)||International (USD or Equivalent)|
|Daily Cash Deposit Limit at Cash Deposit Machine||Rs. 49,900||Not applicable|
|Daily PoS/ e-Commerce Limit||Rs. 5,00,000||Varies from country to country, subject to a maximum of the foreign currency equivalent of the Domestic limit.|
|Daily Cash Limit at ATMs||Rs. 2,00,000||Varies from country to country, subject to a maximum of the foreign currency equivalent of the Domestic limit.|
All State Bank Premium cardholders will be provided with free insurance (accidental death only) worth Rs. 2 Lacs. Purchase protection for damage/theft for an amount of up to Rs. 5,000 is also provided with this card. The purchase protection is valid for 90 days from the date that the product was purchased.
State Bank Debit Card Loyalty Program
For every Rs. 200/ that you spend on dining out, buying travel tickets, shopping, filling petrol or shopping online, you will earn 1 Reward Point (FreedomRewardz point).
For the first three purchase transactions done on the State Bank Premium, you will receive Bonus Points:
- For the first purchase transaction, cardholders will earn 50 Bonus FreedomRewardz points. To avail this offer, the purchase must be done within one calendar month of the card being issued.
- If a second purchase transaction is done within one month of the card being issued, the cardholder will receive 50 additional Bonus FreedomRewardz points.
- If a third purchase transaction is done within one month of the card being issued, the cardholder will receive 100 additional Bonus FreedomRewardz points.
- What’s more, if at least three more purchase transactions are done on the card in a quarter, card holder will be able to earn double the points earned for the quarter.
The collected FreedomRewardz Points can be redeemed for a variety of gifts. Visit the official website for more details regarding this.
Every time Purchase transactions/ Cash withdrawal/ online transactions are made on the State Bank Premium, you will receive SMS alerts instantaneously so that you can keep a track on your expenses easily.
The following charges are subject to revision. Please contact the bank for any changes in current charges.
|Card Replacement Charges||Fee plus GST|
|Annual Maintenance Charges||Fee plus GST per annum from the second year of issue.|
Eligibility for State Bank Premium Debit Card
Only State bank of India account holders can get a State Bank Premium Debit Card. You must also fulfil the criteria as required by the bank.
Applying for SBI Premium Debit Card
To apply for a State Bank Premium Debit Card, one needs to just walk into any of the State Bank of India branches, fill up an application form and provide the relevant documents. The second option is to apply online. If you happen not to be a State Bank of India account holder, you can visit a branch of the bank and apply for an account as well as a State Bank Premium card.
State Bank Premium card FAQs
1. What are the annual charges associated with the State Bank Premium card?
The card will be issued free of cost. The Annual Maintenance Charge for the card is Rs.300.
2. Will I get any SMS alert if I make online purchases?
Every time Cash withdrawal/ Purchase transactions/ online transactions are made on the State Bank Premium card, you will receiver SMS alerts instantaneously.
3. What is the Daily Cash Limit at ATMs with card?
Rs. 2,00,000 is the domestic Daily Cash Limit at ATMs. If you are withdrawing outside India, the limit varies from country to country and is subject to a maximum of the foreign currency equivalent of the domestic limit.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.