SIB-OneCard Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
SIB-OneCard Credit Card
Bank Name :
South Indian Bank
Type :
Regular Credit Card
Interest Rate :
41.88% per annum, or 3.49% per month
Eligibility :
As per the bank approved policy
Pros
Lifetime-free Credit Card with zero joining and annual fees
Premium metal-based card on the Visa Signature platform
100% digital customer on-boarding process
Instant virtual card issuance
Fully controllable from the OneCard app
Among the lowest Forex fees in the market at just 1%
Easy management of EMIs from the EMI Dashboard in the app
Instant issuance of Reward Points and easy redemption within the app
Tap your card at an NFC PoS terminal to make contactless payments of up to Rs. 5,000 per day without PIN
Cons
Limited reward redemption options: You can only redeem your reward points for gift vouchers or statement credits. There are no other redemption options, such as travel or merchandise.
No welcome bonus: The SIB-OneCard does not offer any welcome bonus, which is a common feature of many other credit cards.
Lower reward rate compared to some cards: While the 5X rewards on top 2 spend categories is good, some other cards offer even higher reward rates on certain categories.
Pre-approved only: Currently, the SIB-OneCard is only available to pre-approved customers of South Indian Bank. This means that not everyone will be able to apply for the card.
Limited customer reviews: As the SIB-OneCard is a relatively new card, there are not many customer reviews available yet. This makes it difficult to get a sense of what other people's experiences have been with the card.
Pros & Cons
Welcome Benefits
None
Rewards System
1 point per Rs. 50 on all purchases (no exclusions).
5 points per Rs. 50 on your top 2 spend categories (automatically chosen each month based on highest spend).
1 RP = 0.10 Paisa
Effective Cashback Rate: 0.6%
International Forex Markup
Welcome Benefits and Reward System
Special Features
Fully controllable from the OneCard app
Among the lowest Forex fees in the market at just 1%
Eligibility Criteria
As per the bank approved policy
Benefits
Lifetime Free: No joining fees or annual fees, making it a budget-friendly choice.
Rewards on All Spends: Earn 1 reward point for every Rs. 50 spent on all categories, no exceptions.
5X Rewards on Top 2 Spends: Maximize rewards on your 2 highest spending categories (groceries, dining, fuel, etc.) every month. Earn 5 points per Rs. 50 spent in these categories.
Low Forex Fee: Enjoy a competitive 1% fee on overseas transactions.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Currently Pre-Approved Only: Currently available only to pre-approved customers of South Indian Bank.
Check for Eligibility: You can check your pre-approval status on the OneCard website or mobile app.
Digital Onboarding: If pre-approved, complete the application online with minimal documentation.
Instant Approval: Upon successful application, receive instant approval and start using your virtual card.
Contact Details
18602661111 ;
help@getonecard.app
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Lifetime-free Credit Card with zero joining and annual fees
Premium metal-based card on the Visa Signature platform
100% digital customer on-boarding process
Instant virtual card issuance
Fully controllable from the OneCard app
Among the lowest Forex fees in the market at just 1%
Easy management of EMIs from the EMI Dashboard in the app
Instant issuance of Reward Points and easy redemption within the app
Tap your card at an NFC PoS terminal to make contactless payments of up to Rs. 5,000 per day without PIN
Limited reward redemption options: You can only redeem your reward points for gift vouchers or statement credits. There are no other redemption options, such as travel or merchandise.
No welcome bonus: The SIB-OneCard does not offer any welcome bonus, which is a common feature of many other credit cards.
Lower reward rate compared to some cards: While the 5X rewards on top 2 spend categories is good, some other cards offer even higher reward rates on certain categories.
Pre-approved only: Currently, the SIB-OneCard is only available to pre-approved customers of South Indian Bank. This means that not everyone will be able to apply for the card.
Limited customer reviews: As the SIB-OneCard is a relatively new card, there are not many customer reviews available yet. This makes it difficult to get a sense of what other people's experiences have been with the card.
HDFC Bank Biz Power Credit Card
The card is a premium credit card with a number of value add features. This card offers cashback on even tax and GST payment. Overall it is a must have card for small business owners/ freelancers.
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: Nil
Annual fee - Nil
Cash advance fee -2.50% of amount withdrawn (Min. Rs.300)
Late Payment charges- 2.50% of the total amount due( Max. Rs.1000) Card Cancellation Fee: Rs 3000
Interest Rate- 41.88% per annum, or 3.49% per month
Foreign Transaction Markup Fees- 1% of the Transaction amount
Fuel Surcharge
INR 400 per month, per account.
Billing Cycle
30 Days