SBI SimplySAVE is an entry-level credit card offering from SBI Card. The SBI SimplySAVE UPI credit card is now issued only on the RuPay payment network and can be used for UPI spends too. It has a joining fee and annual fee of Rs 499. The annual fee is waived on spends of Rs 1 Lakh in a membership year. The joining fee is compensated with equivalent worth of reward points too making it effectively free for the first year. The card offers accelerated rewards on select categories of spends like dining, departmental stores and groceries.
Overview
Fees
Joining Fee: Rs 999+GST
Annual Fee: Rs 999+GST
Reward Type
Rewards
Return
0.17% to 1.7%
Rating
Benefits
Fuel Surcharge Waiver
Table Of Content
Eligibility
| Credit Score | 750+ |
| Occupation | Salaried and Self Employed |
| Income for Salaried | Above 20K per month |
| Income for Self Employed | Above 30K per month |
SBI Card does not state the eligibility criteria on the application page for the SimplySAVE card. But, below is a general guideline of what to expect if you are applying for this card.
Fees
| Joining Fee | Rs 499+GST ~Rs 589 |
| Welcome Benefit | Spend Rs 2000 in first 60 days and get 2000 RP ~Rs 500 Value |
| Annual Fee | Rs 499+GST ~Rs 589 |
| Annual Fee Waiver | None |
| Renewal Benefit | On annual spends of Rs 1 Lakh |
The annual fee and required spending for waiver are in line with other entry-level credit cards.
Rewards
| Type of Spend | Reward Points | Return Rate @0.25 per RP |
| Dining, Movies, Departmental Stores, Grocery Spends | 10 RP/Rs 150 | 1.7% |
| Fuel, Rent and Wallet Spends | 1 RP/Rs 150 | 0.17% |
| Other Spends | No Rewards | NIL |
The reward rates above are also applicable for UPI spends as per the spend category.
Milestone
No Milestone Benefits.
Rewards Redemption
SBI SimplySAVE credit card has multiple redemption options. We can get e-vouchers or products from the catalog over here. The best option however is to get a statement credit by calling SBI Card team. For statement credit cards, we get a 25 paise per reward point. We cannot redeem reward points for cash in the online redemption portal. You need a minimum of 2000 points for any redemption option.
Other Key Benefits and Charges
- Fuel Surcharge Waiver: 1% surcharge waiver for transactions between Rs 500 and Rs 3000. Maximum waiver of Rs 100 per statement cycle.
- Foreign Currency Markup: 3.5%+GST ~4.1%
- Interest Rates: 3.5% per month
Complimentary Airport Lounge Access
We do not get any complimentary airport lounge access on the SBI SimplySAVE credit card.
- Domestic Airport Lounge Access: Not Available
- International Airport Lounge Access: Not Available
Pros and Cons
Pros
- This card comes at a low joining fee of 499.
- You can earn great reward points on Shopping spends with this card.
- It offers a complimentary add-on card.
Cons
- This card doesn’t provide international or domestic lounge access.
- There aren’t any insurance benefits with this card.
- Reward redemptions will be chargeable at Rs. 99
My Experience
I’ve been using this card for almost 2.5 years. You get 10X RPs for spending on Dining, Movies, Grocery and Departmental Stores. This is the biggest benefit of the card. If you are among the people who have the habit of purchasing stuff from local marts like Big Bazar, you’ll love this card for getting you flat 2.5% CB. And this is huge as no card with such low joining and annual fees allows such CB. One of the biggest advantages of holding an SBI Credit Card is that SBI runs 10-15% off campaigns on websites like Flipkart, Amazon, Snapdeal, etc. throughout the year during many sales. This kind of discount warrants the need to keep an SBI Credit Card in the wallet. I am sure many of us have used these discounts in the past.
Final Thoughts
SBI SimplySAVE can be considered the offline cousin of the SimplyCLICK card. But, the SimplySAVE card misses out on the good rewards offered by SimplyCLICK. The 0.17% reward rate on the other spending categories is redundant in today’s credit card offerings. But if you want Rupay card and you’re most spent is on Dining, Grocery , Movies then you can go for this card.
SBI SimplySAVE Credit Card
FAQ
Will the SBI SimplySAVE Credit Card reward points expire?
Yes, the reward points you earn on the SBI SimplySAVE Credit Card will expire after two years.
Does the SBI SimplySAVE credit card get airport or railway lounge access?
No, there is no railway or airport lounge access on the SimplySAVE.
How to apply?
You can apply online using the below link to get the SBI SimplySAVE credit card in the RuPay variant.
