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Ola Money SBI Card

Product Details
Credit Card Name : 

Ola Money SBI Card

Bank Name :

State Bank Of India

Type :

Rewards Credit Card

Interest Rate : 

3.50% per month (42% per annum) from the transaction date. 

Eligibility :

Basic Requirements:

Age: 18 years to 60 years old
Occupation: Salaried or self-employed
Credit Score: Good credit history is preferred.
City of Residence: Specific income requirements may vary depending on your city of residence.
Employment Stability: Stable employment history is required.

Ola Money SBI Card
Pros
  • 0 annual fee for the first year.

  • Rewards System: Get 7% reward points on all Ola rides. 1 reward point = INR 1. Earn 1% Reward Points on all other spends. General cashback rate = 1%.

  • 5% cashback on flight tickets booked through Cleartrip.

  • 10% cashback on domestic hotels booked through Cleartrip.

  • 6% cashback on international hotels booked through Cleartrip

  • 12% cashback on Activities booked through Cleartrip

Cons
  • Low general cashback rate. 

  • No free airport lounge visits. 

  • No free movie tickets. 

Pros & Cons
Welcome Benefits

None.

Rewards System

Rewards System: Get 7% reward points on all Ola rides. 1 reward point = INR 1. Earn 1% Reward Points on all other spends. General cashback rate = 1%.

International Forex Markup

3.5%.

Welcome Benefits and Reward System
Special Features

7% cashback on all ola rides.

Eligibility Criteria

Basic Requirements:

Age: 18 years to 60 years old
Occupation: Salaried or self-employed
Credit Score: Good credit history is preferred.
City of Residence: Specific income requirements may vary depending on your city of residence.
Employment Stability: Stable employment history is required.

Benefits

The Ola Money SBI Credit Card offers various benefits below is a non-exhaustive list:

Rewards:

  • 7 pecent reward points on all Ola and Ola Postpaid spends: Earn 7 points for every INR 100 spent on Ola rides or Ola Postpaid transactions. These points will be credited to your Ola Money wallet.

  • 1 reward point on all other spends: Even on non-Ola transactions, you get 1 point per INR 100 spent.

Discounts and Cashback:

  • Welcome gift: Up to INR 10,000 worth of benefits upon card approval, including Ola cashback, flight vouchers, and shopping vouchers (specific offers may vary).

  • Fuel surcharge waiver: Get the 1 percent  fuel surcharge waived off on transactions between INR 500 and INR 4,000 at fuel stations, up to a maximum of INR 100 per statement cycle.

  • Discounts on movie tickets and dining: Enjoy exclusive discounts and offers on movie tickets and dining through partner merchants.

Travel and Lifestyle Privileges:

  • Cleartrip benefits: Access exclusive discounts and offers on Cleartrip flight and hotel bookings.

  • Balance transfer: Transfer your outstanding balance from other credit cards to the Ola Money SBI Card at a lower interest rate and pay back in convenient EMIs.

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?

There are three major ways to apply for the Ola Money SBI Credit Card:

1. Online:

  • This is a quick and easy method.

  • Visit the SBI Card website:

  • Choose the "Credit Cards" button and go to the "Ola Money SBI Card" page.

  • Click on "Apply Now" and fill the online application form with all of your details.

  • Upload requisite documents, such as proof of identity, proof of address, and proof of income (latest salary slips or ITRs).

  • Submit the application form.

2. Offline:

  • Visit any SBI branch.

  • Ask for the Ola Money SBI Credit Card application form.

  • Fill out the application form with your details.

  • Attach the requisite documents.

  • Submit the application form to the bank representative.

3. By Phone:

  • Contact the SBI Card helpline at 1860-180-1290 or 3902-0202.

  • Request for an Ola Money SBI Credit Card application form.

  • The bank will send you the form by courier.

  • Fill out the form with all of your details.

  • Attach the requisite documents.

  • Send the completed application form back to the bank.

Contact Details

l 1860 500 1290, 1860 180 1290, 39 02 02 02(Prefix local the STD code) or 1800 180 1290 (Toll Free)

Account Opening and Procedure
Ola Money SBI Card Review

The card is loaded with various discounts offers, USP of the card is 7% off on all OLA rides. This card is a must have for individuals who do not have their own vehicle.

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
  • Annual Fee (one time): INR 0

  • Renewal Fee (per annum): INR 499 + Taxes from second year onwards. 

  • Cash Advance fees: 2.5% or Rs. 500 whichever is higher at domestic ATMs and 2.5% or Rs. 500, whichever is higher at international ATMs

  • Interest Rate: Up to 3.50% per month (42% per annum) from the transaction date. 

  • Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date. NIL for Outstanding Amount on payment date from Rs.0-Rs.500, Rs. 400 for Outstanding Amount greater than Rs. 500 & up to Rs. 1000; Rs. 750 for Outstanding Amount greater than Rs. 1000 & up to Rs. 10,000; Rs. 950 for Outstanding Amount greater than Rs. 10,000  up to Rs. 25,000; Rs. 1100 for Outstanding Amount greater than Rs. 25,000 & up to Rs. 50,000; Rs. 1300 for Outstanding Amount greater than Rs. 50,000. 

  • Reward Redemption Fees: INR 99/- per redemption. 

Fuel Surcharge

1% Fuel Surcharge waiver for each transaction between Rs.500 and Rs.4,000. Maximum Surcharge waiver of INR 100 per statement cycle, per credit card account.

Billing Cycle

30 Days.

Fees & Charges
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