Velocity SBM Commercial Credit Card is a card specially designed for emerging digital organizations in India. eCommerce companies can use the card to automate their marketing expenses and, at the same time, earn cashback. It is a prepaid-cum-credit card. For the first 6 months, the card will function as a prepaid card and after 6 months of responsible usage, a credit line will be issued to the user. This card is free for the first 500 applicants. Read below to know more about the Velocity SBM Commercial Credit Card.
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Key Highlights of Velocity SBM Commercial Credit Card |
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| Card Type | Corporate Credit Card |
| Best Suited For | Cashback |
| Joining Fee | Rs. 500 (free for first 500 applicants) |
| Renewal Fee | Nil |
| Best Feature | 0.5% cashback on all transactions |
| Paisabazaar Rating | ★★★ (3/5) |
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 the SBM’s official website
| On this page |
Following are the features and benefits of availing a Velocity SBM Commercial Credit Card for your business:
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.
