What is SBI Cards? Check Eligibility & Features

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SBI cards created by SBI in 1988, provide easier payment transactions. SBI cards give access to anywhere in the world. SBI cards is made for everyone, depending on their needs.

SBI Cards History

SBI Cards: SBI Cards & Payment Services Ltd., formerly known as SBI Cards & Payment Services Private Limited, is an Indian credit card organisation and payment solutions provider. SBI Card was established in October 1998 by State Bank of India and GE Capital.

The State Bank of India is the country’s largest bank. In December 2017, the State Bank of India and The Carlyle Group acquired GE Capital’s stake in the company. SBI Card has approximately 100 branches in India, with its headquarters in Gurugram, Haryana/Delhi NCR.

The company is India’s first publicly traded pure-play credit card provider.

SBI Cards provides a broad selection of credit cards that are tailored to numerous lifestyle segments. From shopping to vacation, and from professionals to students, SBI has a credit card for everyone.

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The basic eligibility requirements for every SBI Credit Card application are as follows:

1. The principal applicant’s age must be between 21 and 60 years old.

2. The applicant’s age must be at least 18 years old.

3. Must be salaried, self-employed, a student, or a pensioner in retirement.

4. The primary applicant must have a consistent annual gross income of up to Rs.3 lakh.

State Bank of India credit cards are available to both salaried personnel and students. Those who match the bank’s eligibility requirements may apply for an SBI Credit Card to receive its perks.

SBI offers a variety of credit cards designed to meet the needs of both those with a consistent income and students applying for higher education/education loans.

The eligibility requirements for salaried employees and students without a fixed source of income are listed below.

Eligibility Criteria for Salaried Employees

Salaried employees can apply for an SBI credit if the following conditions are met:

1. The applicant for an SBI credit card is an Indian citizen or permanent resident.

2. The applicant’s age does not fall below the minimum of 18 years or exceed the maximum of 65 years.

3. The individual’s CIBIL score is greater than 750.

4. The applicant has a consistent source of income.

5. The minimum annual income is Rs. 2 lakh.

6. In addition to proper identity and proof of age, the applicant can produce at least three months’ worth of pay stubs and a bank statement demonstrating salary deposits for three consecutive months.

Student Admission Requirements

Even students can benefit from the State Bank of India’s credit cards, which have several useful benefits. A student can receive an SBI student credit card if they are eligible.

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1. The applicant is a resident of India.

2. The candidate is over the age of 18.

3. The individual may present a PAN card, proof of age, evidence of college enrolment, and other KYC-compliant documents.

4. The applicant has a fixed deposit account with a minimum amount of Rs.25,000, on which banks base their credit limits.

Types of SBI Cards

SBI offers a vast selection of credit cards that appeal to a wide range of customers. SBI has a card built exclusively for each of the following: persons with minimum income, business executives, and students. Under the following categories does SBI offer its credit cards:

  • Lifestyle Cards
  • Reward Cards
  • Shopping Cards
  • Banking partnership Cards
  • Miscellaneous Cards
  • Travel Cards

How to apply for SBI credit cards?

The application process for an SBI Credit Card is simple and may be started by going to the SBI Card website. Once there, you can choose the card you want to own from the various alternatives.

When you click the “Apply” button, you will be taken to a form where you will be asked to provide your name, occupation, annual income, PAN number, and mobile phone number, among other information.

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Following submission of the form, an OTP will be given to your mobile number, which you must input to complete the transaction. You will receive a phone call from someone who will ask you to submit the necessary papers.