SBI Student plus Advantage Credit Card: Eligibility, Features, Fees
SBI Student plus Advantage Credit Card: State Bank of India (SBI), India’s largest bank has a long history of providing banking services through its branches situated at every nook and corner of the country. One of the services provided by SBI is credit cards for various purposes such as shopping, travel, lifestyle etc. Among such diverse credit card plans, SBI Student plus Advantage Credit Card has its own features to grab the attention of student sections of its customers.
Eligibility for SBI Student plus Advantage Credit Card:
|1||Age||Should not be a minor i.e. Applicant should be at least of 18 years old|
|2||Nationality||Should be Indian|
Features of SBI Student plus Advantage Credit Card:
1. Joining & Annual maintenance fee:
|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:
Being more than 18 years of age, If you are an existing education loan customer of SBI having good credit history, you can get an extra add on card for your family member at no cost.
And if you are below 18 years old, then primary card will be given on your parent’s name and add-on card will be issued on your name.
3. 2.5% value back:
Every time you make departmental store and grocery purchases with your SBI Student plus Advantage Card, you will get up to 2.5% of value back (10 Cash Points on every Rs. 100 spent). Under this reward scheme, fuel purchases are not eligible for cash points.
How much a cash point worth?
Each cash point is worth Rs.0.25.i.e. the benefit is 2.5%. One can start encashing the cash points
after earning at least 2000 points
4. Cash withdrawal & World wide acceptance:
Card holder can withdraw cash from over 1 million Visa and Master Card ATMs up to 80% of his cash withdrawal limit. SBI Student plus Advantage Card is an international credit card and can be used in over 24 million outlets across the globe, including 3, 25,000 outlets in India.
5. Flexi-pay option:
If you make any purchase over Rs.2500 in any month and full repayment is difficult, using flexi pay option, you can convert transaction into EMIs spanning over 6, 12 or 24 months.
6. Extended credit:
- Interest free credit period: If previous months’ outstanding balance is paid, an interest free credit will be available for a period of 20-25 days on retail purchases
- Finance charges: In case of loans, Up to 2.25% per month that could amount to 27% per annum from the transaction date + EMI.
- Minimum amount due: 5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)
- This is an exclusive credit card, given only to the education loan customers of State Bank of India
- You can get your SBI Student Plus Advantage Card against a fixed deposit at any State Bank of India branch
Online Booking of Railway Tickets
- You can book your railway tickets online and get them delivered at doorstep
- Go to irctc.co.in and follow the below steps:
- Register free of cost
- Log in with your user name and password
- Follow instructions on the website to make your reservations
- Make payments through your SBI Card at the payment gateways that accept a Visa Card