SBI Student Plus Advantage Credit Card: State Bank of India (SBI), the largest bank in India, boasts a rich legacy of offering comprehensive banking services through its extensive network of branches spread across the nation. Among the wide array of financial services provided by SBI, credit cards designed for different needs, including shopping, travel, and lifestyle, stand out. Among these diverse credit card options, the SBI Student Plus Advantage Credit Card is specifically tailored to cater to the unique preferences and requirements of the student community.
- 1 SBI Student Plus Advantage Credit Card Eligibility
- 1.1 SBI Student Plus Advantage Credit Card Features
- 1.2 Cash Withdrawal and Global Acceptance:
- 1.3 Flexi Pay Option For SBI Student Plus Advantage Credit Card
- 1.4 SBI Extended Credit
- 1.5 SBI Exclusive Card
- 1.6 Advantages of the SBI Student Credit Card:
- 1.7 Applying for an SBI Student Credit Card:
- 1.8 Booking Railway Tickets Online
- 2 FAQ?: SBI Student Plus Advantage
SBI Student Plus Advantage Credit Card Eligibility
|1||Age||Should not be a minor, i.e. at least 18 years|
|2||Nationality||Must be Indian|
SBI Student Plus Advantage Credit Card Features
1. Enrollment and Yearly Upkeep Charge:
|S.no||Type of fee||Amount|
|1||Annual fee – One time||Nil|
|2||Renewal fee||Free – If the total purchases on the card are Rs. 35,000 or more in the preceding year|
|Rs. 500 – If the total purchases on the card are less than Rs. 35,000 in the preceding year|
2. Add On Card
If you are over 18 years of age and have a positive credit history as an existing education loan customer with SBI, you have the option to acquire an additional add-on card for a family member at no additional expense.
However, if you are under 18 years old, a primary card will be issued in your parent’s name, and an add-on card will be provided under your name.
3. 2.5% cashback offer:
When you use your SBI Student Plus Advantage Card for shopping at department stores and grocery stores, you can earn a cashback of up to 2.5% of your total expenditure (equivalent to receiving 10 Cash Points for every Rs. 100 spent). Please note that this cashback scheme does not apply to fuel purchases.
What is the value of a cash point?
Each cash point holds a value of Rs. 0.25, which translates to a 2.5% benefit. You can begin redeeming your accumulated cash points once you have earned a minimum of 2000 points.
Cash Withdrawal and Global Acceptance:
Cardholders have the convenience of cash withdrawals at more than 1 million Visa and MasterCard ATMs, allowing them to access up to 80% of their specified cash withdrawal limit. The SBI Student Plus Advantage Card is an internationally accepted credit card, and it can be utilized at a vast network of over 24 million establishments worldwide, with a notable presence of 3,25,000 outlets within India.
Flexi Pay Option For SBI Student Plus Advantage Credit Card
Should you find it challenging to make a full repayment in a month after making a purchase exceeding Rs. 2500, you have the option to utilize the Flexi Pay feature, allowing you to convert the transaction into convenient EMIs that can extend over periods of 6, 12, or 24 months.
SBI Extended Credit
- Interest-free credit period: When the outstanding balance from the previous month is settled, an interest-free credit period of 20-25 days is provided for retail purchases.
- Finance charges: For loans, the finance charges can go up to 2.25% per month, equivalent to 27% per annum, calculated from the transaction date plus the EMI, if applicable.
- Minimum amount due: The minimum amount due is 5% of the total outstanding, with a minimum of Rs. 200, in addition to all relevant taxes, EMI for EMI-based products, and any Over Limit (OVL) amount, if applicable.
SBI Exclusive Card
- Exclusive Eligibility:
- The SBI Student Plus Advantage Card is specifically reserved for State Bank of India’s education loan customers.
- Card Acquisition:
- Obtain your SBI Student Plus Advantage Card by pledging a fixed deposit at any State Bank of India branch.
Advantages of the SBI Student Credit Card:
Now, let’s explore the benefits of the credit card:
- Global Acceptance:
- Accepted worldwide at 24 million outlets, including 3,25,000 in India.
- Reward Points:
- Earn reward points with card usage, redeemable for various purposes.
- Generous Cash Withdrawal Limits:
- Enjoy high cash withdrawal limits, up to 80% of your total assigned limit.
- Balance Transfer:
- Facilitates the transfer of outstanding bill balances to other credit cards, offering lower interest rates for payment.
Applying for an SBI Student Credit Card:
You can submit your credit card application online by following these steps:
- Visit the official SBI website and navigate to the “credit cards” section, selecting the appropriate category.
- Click on the “Apply Now” option and complete the application form.
- Upload the necessary documents and click “Submit.”
- Receive an instant decision on your application after submission.
- If your application is approved, you’ll be contacted by the SBI team for verification.
- Upon successful verification, the bank will issue you a credit card.
Booking Railway Tickets Online
To book railway tickets online and have them delivered to your doorstep, simply follow these steps on irctc.co.in:
- Register for free.
- Log in using your username and password.
- Follow the website’s instructions to make your reservations.
- Complete your payment using your SBI Card at the payment gateways that accept Visa Cards.
FAQ?: SBI Student Plus Advantage
You will have to meet the eligibility criteria to be able to apply for it:
You must have previously availed of an education loan from SBI.
You should possess a fixed deposit with the State Bank of India.
The minimum age requirement for application is 18 years.
The card enjoys worldwide acceptance at 24 million establishments across the globe, including 325,000 within India.
Using the card allows you to accumulate reward points, which can be redeemed for various purposes at a later time.