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SBI Loan on credit card is a facility which is offered by the bank to SBI Card holders. With different types of loan on credit cards, you can avail loan amount more than your credit limit in emergency cases. Below, we have explained SBI Loan on credit card, the features and benefits that come with it:
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There are 3 different types of SBI Loan on credit card that you can opt for in case of an emergency:
Transfer high-rate credit card balance of other accounts to your SBI credit card to get best repayment deals in the form of EMI.
| Particulars | SBI Balance Transfer on EMI Details |
| Eligibility | Only Pre-approved cardholders can apply. The bank informs the customers via SMS or call |
| Documents Required | No additional documents are needed for pre-approval |
| Loan Amount | Rs.5000 to a maximum of 75% of the available credit limit |
| Loan Tenure | 3 months or 6 months |
| Interest Rate | Varies from customer to customer |
| Processing Fee | 1.5% or Rs.199, whichever is higher |
| Loan Disbursal Time | The amount will be transferred in 48-72 hours with NEFT facility |
Your SBI credit card allows you to convert your big-ticket purchases into easy instalments. Enjoy doing flexible payments with SBI’s Flexipay option. Flexipay enables SBI credit cardholders to convert their transaction greater than Rs. 2,500 into easy instalments within 30 days. Delinquent or blocked cardholders won’t be able to avail this service.
| Particulars | SBI FlexiPay Details |
| Eligibility | Only Pre-approved cardholders can apply. The bank informs the customers via SMS or call |
| Documents Required | No additional documents are needed for pre-approval |
| Loan Amount | Minimum amount Rs.2,500. The maximum amount varies case to case |
| Loan Tenure | The loan tenures are from 6, 9, 12, 24 or even 36 months for loan amount more than Rs.30,000 |
| Interest Rate | Varies from customer to customer |
| Processing Fee | 2% of the loan amount converted to FlexiPay with a minimum of Rs.199 and maximum of Rs.1,000 along with applicable taxes |
| Loan Disbursal Time | The amount will be transferred in 48-72 hours with NEFT facility |
It allows you to buy anything from a holiday trip to a mobile phone by delivering money at your doorstep in the form of cheque or draft.
| Particulars | SBI Easy Money Details |
| Eligibility | Only Pre-approved cardholders can apply. The bank informs the customers via SMS or call |
| Documents Required | No additional documents are needed for pre-approval |
| Loan Amount | Rs.5000 to a maximum of 75% of the available credit limit |
| Loan Tenure | 45 days |
| Interest Rate | 2.45% p.m for 45 days |
| Processing Fee | 1.5% or Rs.199, whichever is higher |
| Loan Disbursal Time | The amount will be transferred in 48-72 hours with NEFT facility |
Get cash on call for a holiday, education or marriage etc. over and above your credit limit. Avail flexible repayment tenure of 12, 24 and 36 months.
SBI Encash is a pre-approved loan or we can say money on-demand facility which is given to SBI credit cardholders. You can get an encash amount over and above the existing credit limit or within the existing credit limit on the card. The desired amount can be disbursed through a payable cheque.
| Particulars | SBI EnCash Details |
| Eligibility | Only Pre-approved cardholders can apply. The bank informs the customers via SMS or call |
| Documents Required | No additional documents are needed for pre-approval |
| Loan Amount | Rs.5000 to a maximum of 75% of the available credit limit |
| Loan Tenure | 12, 24, 36 or 48 months |
| Interest Rate | Communicated by the bank |
| Processing Fee | 2% of the loan amount, minimum of Rs.499 and maximum of Rs.3,000 will be levied |
| Loan Disbursal Time | The amount will be transferred in 48-72 hours with NEFT facility |
The Minimum Amount Due will be mentioned in the SBI credit card statement that you will receive every month. The statement will include billing of EMI amount, education CESS and service tax beginning from the immediate billing cycle date. For unrestricted use of the card, deposit the minimum amount due regularly. Interest and other charges are calculated on the outstanding balance.
To apply for SBI Loan on credit card, you can log in to your internet banking account. If you are pre-approved, you can check for the loan on credit card facility under the ‘Benefits’ section on the left-hand side of Balance Transfer. Alternatively, you can SMS BT to 56767 or call the SBI helpline number at 39 02 02 02 (prefix local STD code) / 1860 180 1290 (from BSNL/MTNL lines)
I have been using SBI Credit Card since 2019. I like the shopping and travel benefits a lot, but the rewards rate is unsatisfactory. With a high annual fee, it is expected that the credit card will offer decent rewards. The customer care service is also very good. Overall, it is good.
No extra rewards or benefits. Only basic features. Could have been better.
SBI Simply Click is a good card for online shopping. I get a lot of rewards. Recommended!
Wonderful credit card for travellers. Free membership helps a lot. Fee is high.
I got this card when I had to travel a lot for work every month and it gave me good benefits. But the annual fee is high; it would have been better if I could get similar features for a lower fee. Other features are also good.
This is a great card for me as I shop at Big Bazaar and FBB frequently. The annual fee is also very less. I recommend this for regular shoppers.
