Velocity SBM Commercial Credit Card – For Emerging Indian Digital Businesses

Following are the features and benefits of availing a Velocity SBM Commercial Credit Card for your business:

• Zero joining fee
• 0.5% cashback on all marketing and online spends
• Completely digital application process
• Up to Rs. 2 crores of dilution fee funding within months

Velocity SBM Commercial Credit Card is a lifetime free credit card but only for the first 500 applicants. Other applicants will be required to pay the joining and annual fee. Fees and charges associated with this credit card are as follows:

Type of Fee or Charge	Amount
Joining Fee	Rs. 500 (Nil for first 500 applicants)
Annual/ Renewal Fee	Up to 3% of credit limit + Taxes
Interest-free Period	37 days
Finance Charges	3.6% per month (43.2% Annual)
Forex Chargers	2% plus applicable taxes

Note: SBM Bank can decide to waive off Joining Fee or Annual/Renewal Fee at its own discretion.

Particulars	Details
Occupation	Self-Employed
Minimum Age Requirement	18 years
Documents Required	On Bank’s discretion

eCommerce Companies usually have huge marketing and operational expenses and often the personal or corporate cards they use run out of funds. Since Velocity SBM Commercial Credit Card claims to offer up to Rs. 2 Cr of funding, this can be a big help for organizations looking to expand.

So, if you are looking for a credit card that can help you scale your business, this could be the right choice for you.

People, who are looking for other credit cards with similar benefits, can refer to the credit cards mentioned in the table below:

Business Credit Card	Annual Fee	Key Feature
SBI Platinum Corporate Credit Card	Nil	Zero joining and annual fee
ICICI Bank Business Advantage Black Credit Card	Rs.1,000	Cashback on your business expenses
Axis Bank My Business Credit Card	Rs. 499	eDGE loyalty reward points for transactions and 500+ rewards and offers to redeem points
Citi® Corporate Credit Card	Communicated at the time of sourcing	Evergreen reward points
Yes Prosperity Business Credit Card	Rs.2,499	10,000 Reward Points on your first transaction done within 30 days
Kotak Corporate Gold Credit Card	Rs.1,000	Higher reward point earnings (points can be redeemed every quarter)

*Terms and conditions applicable.

How can I apply for the Velocity SBM Commercial Credit Card?

You can apply for Velocity SBM Commercial Credit Card by filling out the online application on Velocity’s official website. 

What are the prerequisites to get a Velocity SBM Commercial Credit Card?

In order to get a Velocity SBM Commercial Credit Card, you must fall into the eligibility criteria set by the bank. Also, a corporate KYC will be conducted in a quick 5 minutes process, where the applicant will need to submit his/her documents. Depending upon the factors such as credit score, marketing spends and bank balance of the customer, a 3-6 months credit line and credit limit will be offered.

Is Velocity SBM Commercial Credit Card a prepaid card or a credit card?

It’s a prepaid/credit card. There is no credit limit for the first six months and the card functions similarly to a prepaid card. Velocity thereafter undertakes a credit underwriting after 6 months and allocates a credit line, but you can opt not to utilize it.