SBI SimplySAVE Credit Card Review

SBI Card offers a variety of basic credit cards. The eligibility criteria for such credit cards are relatively relaxed. Some SBI Credit Cards with basic benefits are SimplySAVE and SimplyCLICK. Among these, the SBI SimplySAVE Card is best suited for those customers who prefer retail POS (Point Of Sale) shopping.

Do note that this card does not offer benefits like lounge access, golf, or even a discount on movie tickets.

Welcome Benefits

As a sign-up bonus, you will get 2,000 bonus points worth Rs. 500, on spending Rs. 2,000 via the credit card within 60 days of card issuance. The bonus points will be credited to your account within 60 days after you spend Rs. 2,000. You can also get Rs. 100 cashback on your first ATM cash withdrawal within 30 days of card issuance.

Rewards Program on SBI SimplySAVE Credit Card

SBI SimplySAVE credit card offers reward points in the following manner:

• 10 Reward Points are earned per Rs. 150 spent on Dining, Departmental Store spends, Movies, and Grocery spends
• 1 Reward Point is earned per Rs. 150 spent on other categories
• 4 Reward Points are worth Rs. 1 i.e. 1 Reward Point is worth Rs. 0.25

Though SBI Card claims that the rewards can be redeemed against a variety of vouchers and merchandise, a lot of SimplySAVE credit card users complain about limited options of redemption. This is because the reward redemption options also vary on the basis of the card you own. Regular cards like SimplyCLICK and SimplySAVE only have limited choices as compared to premium cards like SBI ELITE and SBI PRIME.

Also Read: SBI SimplyCLICK Review

Fuel Surcharge Waiver on SBI SimplySAVE Credit Card

You can use your SimplySAVE SBI Card to buy fuel without having to pay 1% of the fuel surcharge. The waiver on fuel surcharge is provided to the user as long as they spend between Rs. 500 and Rs. 3,000 at the fuel station. The offer is valid only at Indian fuel stations and the maximum surcharge waiver is capped at Rs. 100 per statement cycle. Fuel surcharge waiver has become quite a common feature on credit cards, nowadays and a waiver of only Rs. 100 in a month is not very impressive.

Annual Fee Reversal

SimplySAVE SBI credit card charges only Rs. 499 as their annual fee. The fee is waived if you spend Rs. 1 lakh in an anniversary year. For a regular card like SBI SimplySAVE, the fee is comparatively high. But because of relaxed eligibility criteria and an affordable annual fee, a lot of people choose the SBI SimplySAVE credit card.

Suggested Read: Cards with an Annual Fee up to Rs. 1,000

Other Benefits of SimplySAVE SBI Card

There are many benefits that SBI Card offers across all of its credit cards. Some of these are:

• Get an add-on credit card for immediate family members
• Transfer balance from any other credit card to SimplySAVE SBI Card
• Convert transactions worth over Rs. 2,500 into EMIs via the Flexipay facility
• Using the Easy Money feature you can get a draft or cheque drawn against the cash limit and have it delivered to your doorstep

Drawbacks of SimplySAVE SBI Card

While no card offers you all the benefits you want, you should still be aware of all the things you might miss out on with SimplySAVE SBI Card.

• No travel, dining, movie, or golf-focused benefits
• No additional benefits for online shoppers
• Reward Points expire after 2 years
• Spend milestone for an annual fee waiver is quite high, 1 lakh
• There are other credit cards that have zero annual fees and offer better benefits

Should you get this Credit Card?

If you are looking for a basic credit card with a low annual fee, then SBI SimplySAVE is a good option to consider. Unlike other cards, the regular renewal fee is only INR 499, which can be deferred if you spend1 lakh rupees during the subscription year. This card is suitable for those who put most of their grocery purchases and departmental store purchases on credit cards, dine out or go to the movies often. For every Rs.100 spent, you can earn one reward point (0.25%) as the base reward. This would not benefit those who spend on other categories and online shopping.

Hence, if you wish to own an entry-level credit card to earn rewards on every transaction and not pay a hefty annual fee, then SimplySAVE can be your pick.

Bottom Line

SBI SimplySAVE credit card is quite a basic credit card that is good for customers looking for a card with a low annual fee and decent rewards. The card offers an annual fee waiver but only if you spend Rs. 1 lakh or more which is a high milestone for an entry-level card. Since it does not provide benefits or bonus reward points on other categories you might fail to reach the spending milestone and thus might end up paying the annual fee. A major drawback of this card is that it doesn’t provide adequate benefits to online shoppers. We suggest you only get SBI SimplySAVE if most of your purchases are at retail stores.