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    SBI Cards

    Ola Money SBI Credit Card

    cat name Travel
    cat name Rewards
    3.0/5.0

    Rewards3.0/5

    Co-branded Benefits3.5/5

    Rewards Redemption Options2.5/5

    Know More
    Paisabazaar Review

    1st Year Fee: ₹ 0

    Co-branded

    Co-branded

    7% reward points on Ola ride bookings

    Rewards

    Rewards

    Earned reward points redeemable in 1:1 ratio

    Fee Waiver

    Fee Waiver

    On spending a min. of Rs. 1 lakh in the year

    Updated on October 31, 2025 12:11 pm

    Author: Lepakshi Phogat

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    About The CardBenefits & PrivilegesFees & ChargesThings to KnowCard ReviewFAQs

    About Ola Money SBI Credit Card

    Ola Money SBI Card is co-branded card with the collaboration of SBI Card and Ola. It offers accelerated savings as 7% reward points on Ola ride spends and a base value-back rate of 1% on other card spends. While the accelerated rewards come with a monthly capping, you can earn unlimited reward points on other card spends. Further adding to the co-branded benefits, the card allows the card users to utilise the earned reward points in 1:1 ratio against future Ola ride bookings by paying through Ola Money wallet.

    Suitable for Ola loyalists who spend a considerable amount on these cab services for their everyday commute or other travels, this SBI credit card comes at zero joining fee. The annual fee charged from second year onwards is low as well. This fee comes with an easily achievable waiver spending condition which helps eliminate the annual charges you would otherwise incur.

    Note: This Card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit SBI Card website.

    Ola SBI Card Features & Benefits

    Given below are the details regarding the rewards program:

    Reward Rate

    • 7% reward points on spends made on Ola rides, capped at 500 points per month
    • 1% reward points on all other spends1

    Rewards Redemption

    • The accrued reward points are auto-credited to your Ola Money Wallet

    Redemption Value

    • 1 Reward Point = Rs. 1

    Other features and benefits of Ola Money SBI Card are as follows:

    • Fee Waiver: Annual fee is waived off on spending a minimum of Rs. 1 lakh during the previous year
    • Fuel Benefit: 1% fuel surcharge waiver of up to 100 per month on fuel purchases made across India

    Suggested Read: Best Travel Credit Cards

    The rewards program and consequently this card can be quite beneficial for frequent Ola users with 7% value-back and rewards redemption in 1:1 ratio against Ola Money wallet. When it comes to savings on such online cab services like Ola and Uber, this card tops the list. Though there are other strong credit card competitors in this segment as well, including Flipkart Axis, HDFC Millennia, Axis Ace and HDFC Pixel Play, which provide accelerated savings of 4% to 5% on Ola or Uber. However, these cards not only cover this spending category, but also offer accelerated savings on other popular platforms like Myntra, Swiggy, and many others. This makes them a better choice for those who not only wish to save on cab fares, but on other lifestyle spends too, thus offering a higher overall savings. But if Ola spends are your main focus to save on, then SBI Ola Money Credit Card would offer the highest value-back.

    Ola Money SBI Credit Card: Fees & Charges

    Particulars Amount
    Joining Fee Nil
    Annual Fee Rs. 499 + Applicable Taxes
    Finance Charges 3.75% p.m. (45% p.a.)
    Late Payment Charges
    On outstanding balance of –
    Up to Rs. 500 Nil
    More than Rs. 500 to Rs. 1,000 Rs. 400
    More than Rs. 1,000 to Rs. 10,000 Rs. 750
    More than Rs. 10,000 to Rs. 25,000 Rs. 950
    More than Rs. 25,000 to Rs. 50,000 Rs. 1,100
    More than Rs. 50,000 Rs. 1,300

    Things to Know Before you apply

    Get This Card If:

    You commute quite often which takes a sizable portion of your budget and prefer to use Ola services for such everyday rides

    You are a low to average spender and looking for a low annual fee credit card

    You can utiltise the reward points well as Ola Money wallet balance and will be able to maximise your savings

    Similar Cards:

    Paisabazaar Review

    Overall Rating

    3.0/5

    Rewards3.0/5

    Co-branded Benefits3.5/5

    Rewards Redemption Options2.5/5

    What do we like about this card?

    SBI Ola Money Credit Card is a low annual fee entry-level card with basic hassle-free rewards program with the accrued reward points auto-credited to the Ola Money wallet. This SBI Card comes with high co-branded savings of 7% on Ola spends and reward redemption against Ola Money in 1:1 ratio. In addition to this, you get 1% savings on all other card spends. Moreover, the low annual fee of Rs. 499 can also be waived by reaching the annual spending threshold of just Rs. 1 lakh - an amount that even low spenders can meet easily.

    Pros

    • 7% savings on co-branded spends on Ola
    • Unlimited 1% savings on other card spends
    • 1:1 rewards redemption ratio
    • Quite low annual spending requirement to waive off annual fee

    Cons

    • Capping on accelerated reward earnings
    • Rewards redemption limited to just Ola Money wallet
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    Frequently Asked Questions

    Everything you need to know about this credit card

    Ola Money SBI Card is a beginner-level co-branded credit card that comes with a renewal fee of Rs. 499 and it is ideal for cardholders who are looking for discounts or value-back on Ola rides.

    The rewards earned on your credit card are credited to your OlaMoney Wallet. So, it is recommended to complete KYC to avail full benefits of the OlaMoney Wallet.

    The reward points earned through Ola Money SBI Card are credited to your Ola Money wallet in 1:1 redemption ratio from where you can use them for future Ola ride bookings.

    You can save 7% on every Ola ride you pay for using Ola Money Credit Card. This value-back is capped at Rs. 500 per month.

    You can apply for Ola Money SBI Credit Card online through the official SBI Card website or Ola app. Simply fill in your details, and submit the required documents. If you meet the eligibility criteria, the card will be issued after approval.

    Ola Money SBI Credit Card comes with no joining fee. However, second year onwards, the card charges an annual/ renewal fee of Rs. 499 plus applicable taxes.

    If your Ola Money SBI Credit Card is lost or stolen, you can immediately block it by calling SBI Credit Card customer service at 1860 180 1290 or logging into your SBI Card account. You can also report the loss through the SBI Card mobile app for instant blocking and replacement.

    You can reach SBI Card customer support by calling 1860 180 1290 or 39 02 02 02 (prefix your local STD code). Alternatively, you can raise a query via the SBI Card website or mobile app under the “Contact Us” section for assistance.

    To cancel your Ola Money SBI Credit Card, you can call SBI Card customer care and request card closure. Ensure that all outstanding dues are cleared before making the cancellation request. Once processed, you’ll receive a confirmation message or email regarding the closure.

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    Footnotes

    1. Exclusions include fuel, rent, transactions on Cleartrip, cash advances, balance transfers, financial charges, disputed transactions, Flexipay and EMI spends

    Click here to know More Terms and Conditions

    Lepakshi Phogat linkedIn icon

    Content Writer

    Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.

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