Karur Vysya Bank SBI Credit Card

Welcome Benefits- Get the following benefits:

•  2,000 bonus Reward points on spending Rs. 2,000 or more in first 60 days of receiving your card
• Rs. 100 cashback on your first ATM cash withdrawal, if done within 30 days of receiving your card

Reward Points- 1 Reward Point for every Rs. 100 spent.

Accelerated Rewards- 10X Reward Points per Rs. 100 spent at all Departmental and Grocery stores (4 Reward points = Re. 1).

Annual Fee Waiver- To avail fee reversal, you need to have spent more than Rs. 1 lakh on your Karur Vysya Bank SBI Card in the previous year.

Fuel Surcharge Waiver- 1% fuel surcharge waiver at any petrol pump.

Global Acceptance- You can use your Karur Vysya Bank – SBI Card in over 24 million outlets across the globe, including 3,25,000 outlets in India. 

Flexipay Option- With Flexipay, you can convert your transactions in easy monthly installments.

Please Note: Karur Vysya Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only. 

Following are the fees and charges associated with the card:

Fees / Charges	Amount
Annual / Renewal Fee	Rs.499
Add-On Fee	Nil
Interest free credit period	20-50 days, applicable only on retail purchases and if previous months’ outstanding balance is paid
Finance charges	Up to 3.35% per month, accounting to 40.2% per annum from the transaction
Minimum amount due	5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)
Cash Advance Limit	Up to 80% of credit limit, with a maximum of Rs. 12,000 per day
Cash Advance Fee	SBI or other ATMs: 2.5% of transaction amount, subject to a minimum of Rs. 500 International ATM: 2.5% of transaction amount, subject to a minimum of Rs. 500
Late Payment Fee	For Statement Balance Less than Rs. 500 – Nil Rs. 500 up to Rs. 1,000 – Rs. 400 Rs. 1,000 up to Rs. 10,000 – Rs. 750 Rs. 10,000 up to Rs. 25,000 – Rs. 950 Rs. 25,000 up to Rs. 50,000 – Rs. 1,100 Amount over Rs. 50,000 – Rs. 1,300
Overlimit Fee	2.5% of overlimit amount subject to a minimum of Rs. 500
Foreign currency transaction	Conversion mark up to 3.5%

Eligibility Criteria- Applicants should meet the following eligibility criteria in order to be eligible for this credit card:

• Should be salaried or self-employed
• Should fall in the age bracket of 18 to 65 years
• Should be a resident of India

Documents Required- The following documents are required to be submitted:

Proof of Identity	PAN Card, Aadhar Card, Voter ID Card, Passport, Driving License, Any other government-approved photo ID
Proof of Address	Aadhar Card, Passport, Utility Bills (not more than 3 months old), Any other government approved ID
Proof of Income	Bank statement for the last 3 months, Salary slips for the last 3 months, Audited financials for the last two years (for self-employed), Form 16

To apply for your Karur Vysya Bank – SBI Card, visit the nearest Karur Vysya Bank branch. The bank executive will assist you regarding the further application process.

Does the State Bank of India charge any interest for balance transfers?

No, if you select the 60-day plan, then the interest rate is 0%. For the 6-months plan, the interest rate charged for a balance transfer is 1.7% per month.

Can I convert the outstanding balance from other credit cards to my Karur Vysya Bank SBI Credit Card?

Yes, you can convert your high-value purchases into monthly installments at an interest rate of 0.5% per month for 3 months and at 0.75% per month for 6 months.

Can I avail the Encash facility on my Karur Vysya Bank SBI Credit Card?

Yes, you can avail this facility to fulfil family commitments and SBI delivers a cheque within 3 to 5 working days. No documentation is required to be submitted and this facility comes pre-approved to all the card holders.

What is the interest rate charged under the Easy Money plan?

You can avail this facility at an interest rate of 2.45% per month and a processing fee of 1.5% or Rs 199, whichever is higher. The tenure given under this plan is for 45 days.