The SBI Student Plus Advantage Credit Card is a specially crafted financial tool designed to cater to the unique needs of students. This intelligent card rewards users with discounts and points for every purchase they make.
Notably, it offers rewards for both everyday essentials like groceries and indulgent items. Moreover, it extends these rewards to fuel purchases.
Before you consider applying for this feature-rich credit card, let’s delve into the enticing offers, rewards, and benefits it has in store for you.
SBI Student Plus Advantage Credit Card features
The SBI Student Plus Advantage Credit Card is exclusively available to education loan customers of State Bank of India (SBI). It stands out with its attractive features and benefits, including a nil annual fee and joining fee.
Cardholders earn 1 reward point for every Rs. 100 spent on the card and enjoy a fuel surcharge waiver of 2.5% on all fuel transactions within the range of Rs. 500 to Rs. 3,000.
Furthermore, on spending Rs. 35,000 or more in a year, the annual fee of Rs. 500 is completely waived. This card also provides the flexibility of cash withdrawal from over 1 million Visa and MasterCard ATMs, making it a versatile financial tool.
Its international acceptance allows it to be used for purchases worldwide at over 24 million outlets, including 3,25,000 in India.
The Flexipay facility enables the conversion of purchases exceeding Rs. 2,500 into convenient EMIs, while the balance transfer feature allows cardholders to transfer outstanding bills from other credit cards to the SBI Student Plus Advantage Credit Card at a lower interest rate.
Additionally, cardholders can book rail tickets online via the IRCTC website and have the tickets delivered to their doorstep. Utility bills can also be conveniently paid using this credit card.
SBI Student Plus Advantage Card Offers:
- Earn up to 2.5% value back as Accelerated Cash Points (10 cash points on every ₹100 spent) when shopping for groceries at departmental stores.
- This card is designed to reward you with 1 Cash Point on every ₹100 spent across various categories.
- Enjoy the freedom of not paying the 2.5% fuel surcharge at petrol pumps throughout India.
- Unlike some other credit cards, where reward points are limited to a rewards catalogue, SBI Advantage Cash Points can be redeemed to pay your outstanding balance or exchanged for gifts from the Rewards Catalogue.
SBI Student Plus Advantage Card Add-On Benefits:
- Cash Withdrawal Facility: You have the convenience of withdrawing cash up to 80% of your credit limit.
- Global Acceptance: The SBI Advantage Card is accepted at over 24 million outlets worldwide, including 3,25,000 outlets within India.
- IRCTC Booking: Use this credit card on the IRCTC website to book train tickets and have them delivered to your doorstep.
- Balance Transfer: Transfer the balance from another bank’s credit card to your SBI Student Plus Advantage Credit Card at lower interest rates.
- Bill Payments: Simplify your financial life by paying bills, from electricity to insurance premiums, using this versatile credit card.
- Flexipay: Convert transactions over ₹2,500 into monthly installments (EMIs) for easier repayment.
- Online Management: Manage your card online through the SBI website and mobile banking app.
- Secure Transactions: Benefit from a highly protected payment gateway for safe and secure online transactions.
SBI Student Plus Advantage Card Fees & Charges
- Annual Fee: Zero annual fee.
- Renewal Fee: ₹500 from the second year onwards. This fee is waived if your annual spending exceeds ₹35,000.
- Late Payment Charges: Range from ₹100 to ₹750.
- Rewards Redemption Fee: ₹99.
- Cash Payment Fee: ₹100.
- Overlimit Charges: 2.5% of the overlimit amount, with a minimum of ₹500.
- Cash Advance Fee: 2.5% of the transaction amount for SBI ATMs, with a minimum of ₹300. For international ATMs, the fee is also 2.5% of the transaction amount.
The SBI Student Plus Advantage Credit Card offers a competitive fee structure. It has a nil annual fee and joining fee, making it accessible to students.
The renewal fee of Rs. 500 is applicable only if the total spending on the card falls below Rs. 35,000 in the previous calendar year.
Additional charges include a Rs. 90 fee for cheque pick-up services, a payment dishonor fee of 2% of the payment amount (minimum Rs. 350), and a Rs. 100 fee for statement retrieval.
For charge slip retrieval, a fee of Rs. 225 per charge slip applies. Late payment charges vary based on the outstanding amount, ranging from nil for amounts due from Rs. 0 to Rs. 200 to Rs. 750 for total amounts exceeding Rs. 10,000.
Overlimit charges amount to 2.5% of the overlimit amount, subject to a minimum of Rs. 500. Card replacement costs Rs. 100, while emergency card replacement, particularly when abroad, has a minimum charge of $175.
Foreign currency transactions incur a 3.5% fee. A rewards redemption fee of Rs. 99 and a cash payment fee of Rs. 100 apply as well.
These fees and charges are essential to consider while managing the SBI Student Plus Advantage Credit Card.
SBI Student Plus Advantage Card Eligibility Criteria:
- This credit card is exclusively for education loan customers of State Bank of India.
- It’s a secured credit card, available against a Fixed Deposit opened with SBI.
- The primary cardholder must be a minimum of 18 years old. For those under 18, an add-on card is issued, while the primary card goes to the parents.
- Identification Proof: PAN Card, Aadhaar Card, Passport, Driving License.
- Residence Proof: Aadhaar Card, Passport, Driving License, Electricity Bill, Telephone Bill.
- Education Loan Account Statement.
- Fixed Deposit Account Receipt.
- Passport-Sized Photograph.
- Student ID Card.
How to Apply for the SBI Student Plus Advantage Card?
To apply for the SBI Student Plus Advantage card, visit the nearest branch of State Bank of India.
Bring all the required documents to complete the application process efficiently and have your credit card application approved on the same day.
Payment Options for SBI Student Plus Advantage Card Bill Amount:
SBI offers various payment options, both online and offline:
Online Payment Options:
- NEFT Payment: Transfer funds via NEFT from any bank account to your SBI Credit Card Account.
- Paynet-Pay Online: Log in to sbicard.com, select “Pay Now,” enter the payment amount, and choose the bank and payment mode.
- SBI Auto Debit: Set up auto-debit to have your credit card bill deducted automatically on the due date.
- UPI Payment: Make payments using UPI on your smartphone.
Offline Payment Options:
- Over the Counter Payment: Visit an SBI branch, fill out a pay-in-slip, and deposit the bill amount with the teller.
- SBI ATM: Use the nearest SBI ATM to pay your credit card bill by selecting the ‘Bill Pay’ option and entering your credit card number and payment amount.
Can I withdraw cash using this credit card?
Yes, you can withdraw cash from over 1 million Visa and MasterCard ATMs using your SBI Student Plus Advantage Credit Card. However, please note that cash withdrawals may be subject to fees.
Are there any foreign transaction fees with this card?
Yes, there is a foreign currency transaction fee of 3.5% for transactions made in currencies other than the Indian Rupee.
How can I pay my SBI Student Plus Advantage Credit Card bill?
SBI offers various payment options, including NEFT payments, online payments through the SBI website, auto-debit facility, and payments via UPI. You can also make payments over the counter at an SBI branch or at an SBI ATM.
Can I convert my purchases into EMIs with this card?
Yes, the Flexipay facility allows you to convert purchases exceeding Rs. 2,500 into convenient EMIs.
Is there a charge for rewards redemption?
Yes, there is a rewards redemption fee of Rs. 99 associated with this credit card.
What happens if I lose my card while abroad?
If you lose your card abroad, you may incur a minimum charge of $175 for emergency card replacement. It’s essential to report the loss immediately to the bank.
The content presented in this article is of a general nature and is intended solely for informational purposes.
Hello, I’m Ratiranjan Singha, the creator of myworldstuffs.com. I love sharing helpful information and tips to make your life better. On website, we explore a variety of interesting subjects to help you learn and grow.