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Karnataka Bank SimplySAVE SBI Card

Product Details
Credit Card Name : 

Karnataka Bank SimplySAVE SBI Card

Bank Name :

Karnataka Bank

Type :

Lifestyle Credit Card

Interest Rate : 

3.50% per month [42% per
annum]

Eligibility :

resident of India.
minimum age of 21 years.
minimum annual income of Rs. 3 lakhs.
must have a good credit history.

Karnataka Bank SimplySAVE SBI Card
Pros

1. Customers can Enjoy convenience, exclusive benefits, assistance at any hour, and much more with this card. 

2. Customers can enjoy flexibility and convenience to pay their Credit Card bill, fully or partially. 

3. Customers can also convert their spending into easy monthly installments with the Flexi pay privilege. 

4. Services available on Card: Spends Based Reversals of Annual Fee [On annual spends of ₹90,000]. Dispute Resolution Card Protection Plan Emergency Card Replacement 2 add-on cards at no additional cost. Balance Transfer on EMI 1% Fuel Surcharge waiver at all petrol pump Assuming fuel spends of ₹4000 9 am to 6 pm Card Related Assistance.

Cons
  • No welcome benefit is provided to the users.

Pros & Cons
Welcome Benefits
None
Rewards System

1.Earn One Rewards Point for every ₹150 spent except for spends at Fuel, Insurance, Utilities and Cash Transactions. (Each reward point will worth ₹0.25).

2-Accelerated Reward Points-10 Reward points for every ₹150 spent on Movies, Dining, Grocery & Departmental Stores.

3- Effective Cashback Rate: 2.5%

International Forex Markup
International Forex Markup: Upto 3.5%
Welcome Benefits and Reward System
Special Features
  • Simply SMS Service provided to know about the details of the card Like Balance enquiry Available credit and cash limit Block lost or stolen cards Last payment status Reward points summary Subscribe to e-statements

Eligibility Criteria

resident of India.
minimum age of 21 years.
minimum annual income of Rs. 3 lakhs.
must have a good credit history.

Benefits

Reward Points:

  • Accelerated Rewards: Earn 10 reward points for every Rs. 150 spent on Movies, Dining, Grocery & Departmental Stores. This translates to 2.5% value back on these categories.

  • Standard Rewards: Earn 1 reward point for every Rs. 100 spent on other categories.

  • Welcome Benefit: Get 2000 reward points (equivalent to Rs. 500) on your first spend of Rs. 2000 within 60 days of card issuance.

Fuel Surcharge Waiver: Enjoy complete freedom from paying the 1% fuel surcharge at any petrol pump. This can save you a significant amount of money, especially if you fuel up frequently.

Balance Transfer: Transfer outstanding balances from other credit cards to your Karnataka Bank SimplySAVE SBI Card at a lower interest rate and pay back in convenient EMIs. This can help you consolidate your debt and save on interest charges.

Other Benefits:

  • Free accident insurance cover of Rs. 1 lakh on accidental death or disability.

  • Free lost card liability cover of Rs. 2 lakh for 60 days from the date of reporting.

  • Access to exclusive deals and discounts from SBI Card partners.

  • Convenient online and mobile account management through the SBI Card website and app.

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  • To apply for a Karnataka Bank SimplySAVE SBI Card, you can follow these steps: 

  • Online Visit the Karnataka Bank website or the SBI Card website. Click on the "Apply Now" button for the Karnataka Bank SimplySAVE SBI Card. 

  • Fill in the online application form and submit it. 

  • A bank representative will contact you to complete the process. 

  • Documents required KYC documents (proof of identity, proof of address, and proof of signature) Income proof (such as income tax returns, Form 16, or bank statements)

Contact Details

Customer Care Number. ‌ 1800 425 1444 (Toll free). ‌ 1800 572 8031 (Toll free).

Account Opening and Procedure
Karnataka Bank SimplySAVE SBI Card

The Karnataka Bank SimplySAVE SBI Card is a decent option for value-conscious individuals who primarily spend on dining, movies, groceries, and occasional fuel transactions. It offers a welcome gift, decent reward rates on these categories, fuel surcharge waiver, and basic card benefits. However, the average reward rate, limited redemption options, and low fuel waiver cap might not be suitable for high spenders or those seeking maximum value and flexibility.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Fees & Charges
  • Joining Fee-0 , 

  • Annual Fee- 499+ taxes 

  • Cash advance fee: 2.5% per month from date of withdrawal 

  • Interest Rates: 3.50% per month [42% per annum] 

  • Late Payment Charges: NIL foe Rs.0-Rs.500 Rs.400 for Rs.500 & up to Rs.1,000 Rs.750 for Rs.1,000 & upto Rs.10,000 Rs.950 for Rs.10,000 & upto Rs.25,000 Rs.1,100 for Rs.25,000 upto Rs.50,000 

  • Foreign Currency Transactions Fees: 3.5%. 

  • Reward Redemption Fees: NIL

Fuel Surcharge
1% of transaction amount + all applicable taxes. However, 1% Fuel Surcharge waiver at all petrol pump Assuming fuel spends of ₹4000 is available for customers.
Billing Cycle

30 days

Fees & Charges
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