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Details about SBI 's Unnati Credit Card




On 28th March, 2017 State Bank of India (SBI) was introduced a new Credit Card named “Unnati” in New Delhi by Minister of State (Independent Charge) for Power, Coal, New and Renewable Energy and Mines Piyush Goyal. ‘Unnati’ means ‘Progress’. SBI has made an offer to issue credit cards to all of its account holders who have a minimum account balance of Rs.20000 without considering their credit history.
State Bank of India’s (SBI’s) Unnati Credit Card is a credit card offered those SBI customers who have a minimum account balance of Rs. 25,000 in their accounts. The annual fee of Rs. 499 is waived off for the first four years.
SBI felt the need to encourage the adoption of credit cards culture and facilitation of expansion in the digitalized payments in tune with the Prime Minister Narendra Modi’s initiative of “Cashless” India as the nation progresses on the path to digitization. The idea is thus to spread credit inclusion among the masses. This move of SBI Card is a big step forward in that direction.

Features of UCCs:

  1. Zero Annual Fee (Rs. 499, waived off for first 4 years);
  2. Rs 500 cashback on spends of Rs 50,000 or more in a year;
  3. Free for 4 years;
  4. 2.5% fuel surcharge waiver for each transaction between Rs 500 & Rs 3000 (exclusive of GST, wherever applicable, & all other charges);
  5. Easy Approval, No Civil history checking;
  6. Get 1 Reward Point per Rs 100 spent;
  7. Free of Cost;
  8. Applicable for all membership years;

Others features is –

  1. Easy Money
  2. Worldwide Acceptance – You can use your SBI Card Unnati in over 24 million outlets across the globe, including Rs. 3, 25,000 outlets in India. You can use your card to make payments at any outward that accepts Visa or MasterCard.
  3. Balance Transfer on EMI
  4. Utility Bill Payment Facility
  5. Add on Cards – With SBI Card Unnati, you can empower your family with add-on cards for your parents, spouse, children or siblings above the age of 18.
  6. Extended Credit – Its interest-free credit period (20-50 days), it applicable only on casual purchases and if previous months’ unaccomplished balance is paid;

Surcharge of SBI’s UCCs:

  • Fuel and all products and services sold at petrol pumps- 2.5% fuel surcharge waiver for each transaction between Rs. 500 and Rs. 3,000, monopolistic of applicable taxes, wherever applicable and all other charges. Maximum surcharge waiver of Rs. 100 per statement cycle, per credit card accounts.
  • Rs. 500 cashback on spends of Rs. 50,000 or more in a year
  • Railway Ticket through IRCTC- 1.8% of transaction amount + service charge as applicable
  • Railway tickets through Railway counters - Rs. 30 + 2.5% of transaction amount.
  • Cash Advance Limit - Up to 80% of credit limit, with a maximum of Rs. 12,000 per day.
  • Finance charges - Up to 2.50% per month, accounting for 30% per annum from the date of withdrawal.

Cash Advance Fee:

  • For SBI ATMs or other ATMs 2.5% of transaction amount, subject to a minimum of Rs. 300;
  • For International ATMs 3% of transaction amount, subject to a minimum of Rs. 300;

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