SBI Virtual Credit Card

SBI Virtual Card Features and Benefits Eligibility for SBI Virtual Card SBI Virtual Card Fee and Charges How to generate SBI Virtual Card? Virtual Credit Card vs. Physical Credit Card Compare Similar Virtual Cards SBI Virtual Card FAQs

Features & Benefits of SBI Virtual Card

No plastic card is issued and the primary account number and credit limit is not exposed to the suppliers The card provides configuration controls for each transaction You have the option of generating a unique virtual card number for every payment The card is valid for single / multi use Generation of unique virtual accounts on demand Privilege of accelerating payments to your suppliers Get monthly e-statements delivered to your inbox

For the ease and convenience of the people, the State Bank of India has set the following eligibility criteria to avail the virtual credit card facility-

1. You should have an existing SBI Credit Card
2. You should have your PAN registered with the bank
3. There should be sufficient credit for the online transaction to take place

The below mentioned table contains the relevant fees and charges associated with the card:

Primary Features	Fees / Charges
Joining Fee	Nil
Annual Fee	Nil
Finance Charges	Up to 3.35% p.m. (40.2% p.a.) from the date of transaction
Interest-Free Credit	20-50 days
Cash Advance Limit	Variable
Foreign Currency Markup	Up to 3.50%
Statement Retrieval	Rs.100 `per statement (>2 months)

All the customers of State Bank of India having internet banking facility with transaction rights can create the virtual credit card online. Follow the below listed steps to create your SBI Virtual Credit Card-

Step 1- Log into your internet banking account using your Login ID and Password

Step 2- Go to the “Requests or e-Cards” tab and click on ‘State Bank Virtual Card’ option.

Step 3- Enter the amount and select your preferred account

Step 4- Enter the OTP received on your registered mobile number

Step 5- After successful verification, your card number and all other details will be displayed on the screen. You can now use the card to facilitate online transactions

Before opting for a virtual credit card, it is important to understand the difference between virtual and physical credit cards.

Difference between Virtual and Physical Credit Card
Virtual Credit Card	Physical Credit Card
Can only be used to facilitate online transactions	Can be used for both online and offline transactions
Usually valid for a shorter time period (24-48 hours)	Generally expire after a few years from the date of issuance
Majority of cards do not offer avail reward points or cashback	Reward points or cashback can be earned using physical credit cards
The card does not contribute in building your credit score	Physical Credit Cards help in building your credit score and history

The virtual credit cards provide excellent data management with the association of a unique account number to a unique payment. Below given is the comparison of the primary feature of other virtual credit cards from different banks.

Virtual Credit Card	Annual Fee	Primary Feature
HDFC NetSafe	Nil	You can use it on any merchant website that accepts Visa / Mastercard Credit Cards
Kotak Mahindra Bank Netc@rd	Nil	It is universally accepted and you can shop on any website that accepts Visa Cards
ICICI Bank Virtual Credit Card	Nil	You can change the maximum limit on your VCC within overall limit of your primary card
Axis Bank FreeCharge Credit Card	Rs.250 + taxes	Exceptional virtual credit card where you can earn reward points on your purchase
HSBC Advantage Virtual Card	Nil	You can set your card’s limit on the purchase you wish to do and reset it again

Can I unblock my Virtual Credit Card?

No, once the card is blocked you cannot unblock or reuse the card.

Do I require separate registration to avail the Virtual Credit Card facility?

No, there is no separate registration or enrollment required to avail this facility.

What would happen if I entered the wrong OTP 3 times?

You are given maximum 3 attempts to enter the correct OTP. The bank will block your card in the 4th incorrect attempt and you will further not be allowed to do any transaction using the card.

Can I create more than 1 virtual credit card?

Yes, you can create many virtual cards subject to enough balance in the underlying account.

Can I do multiple transactions with my virtual credit card before it expires?

No, the card is for one-time use and will get deactivated once the transaction is done successfully.