top of page

PSB SimplySAVE SBI Card

Product Details
Credit Card Name : 

PSB SimplySAVE SBI Card

Bank Name :

Punjab and Sindh Bank

Type :

Rewards Credit Card

Interest Rate : 

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

Eligibility :

Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.

PSB SimplySAVE SBI Card
Pros
  • Welecome Benefit: Spend INR 2,000 or more in first sixty days and get 2,000 reward points

  • Reward System: 10 point on spend of every INR 150 on dining, movies, departmental stores and grocery spends. Value of 1 point = INR 0.25. Effective cashback rate: 1.6%. Get 1 reward points on all other  spends per INR 150. Effective general cashback rate: 1.25%. Get 1 reward point on INR 100 on all other spends. Effective general cashback rate: 0.16%

  • Annual fee reversal on spending INR 1,00,000 on the card.

Cons
  • Low general cashback rate.

  • No free movies. 

  • No free airport lounge visits.

Pros & Cons
Welcome Benefits

Welecome Benefit: Spend INR 2,000 or more in first sixty days and get 2,000 reward points

Rewards System

Reward System: 10 point on spend of every INR 150 on dining, movies, departmental stores and grocery spends. Value of 1 point = INR 0.25. Effective cashback rate: 1.6%. Get 1 reward points on all other  spends per INR 150. Effective general cashback rate: 1.25%. Get 1 reward point on INR 100 on all other spends. Effective general cashback rate: 0.16%

International Forex Markup

3.5%.

Welcome Benefits and Reward System
Special Features

Reward System: 10 point on spend of every INR 100 on Apollo 24x7/BookMyShow/ Cleartrip/ Dominos/ Myntra/ Netmeds/ Swiggy/ Yatra. Value of 1 point = INR 0.25. Effective cashback rate: 2.5%. 

Eligibility Criteria

Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.

Benefits

Card gives cashback on dining, movies, departmental stores and grocery spends.

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

1. Online: This is the faster and more convenient method:

  • Visit the SBI Card website: Head to the official SBI Card website.

  • Navigate to the SimplySave SBI Card page: Find the "Personal" category and choose "Shopping" as the sub-category. 

  • Click "Apply Now": Look for the prominent "Apply Now" button on the card page.

  • Fill out the application form: Provide your personal details, income information, and KYC documents like PAN, etc.

  • Review and submit: Carefully review the application details.

  • Await decision: You'll receive an instant preliminary decision based on the information provided.

2. Offline: This method involves visiting a Punjab and Sindh Bank branch and completing the application process:

  • Visit an  Punjab and Sindh Bank branch: Find a nearby  Punjab and Sindh Bank branch and express your interest in applying for the SimplySave SBI Card.

  • Fill out the application form: A bank representative will assist you with the form and guide you through the process.

  • Submit the form and documents: Provide all requisite documents such as PAN, Aadhaar, and income proof along with the completed application.

  • Await decision: The bank will process your application and inform you about the final decision through your preferred communication channel.

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
PSB SimplySAVE SBI Card

Card has low cashback rate and does not offer good value add benefits. Overall this card is suited only for individuals who have a low cibil score and are not eligible for other credit cards.

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 499 + Taxes.

  • Renewal Fee (per annum): INR 499 + Taxes.

  • 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 INR 500 and INR 4,000. Maximum Surcharge waiver of INR 100 per statement cycle, per credit card account.

Billing Cycle

30 days.

Fees & Charges
bottom of page