SBI Simply Save Credit Card

About SBI Simply Save Credit Card

Are you still paying full price for your weekend movies and dinner dates? If you are spending thousands every month on groceries and dining out without getting anything back, you are leaving money on the table. The SBI Simply Save Credit Card is built to fix that by turning your basic daily expenses into meaningful savings.

This card works best for people who want a straightforward way to save on "offline" lifestyle spending. While many cards today focus only on online shopping, Simply Save gives you 10X rewards on dining and movies, which are often the biggest part of a social lifestyle. You can realistically save over ₹4,000 annually if you use this card for your regular monthly shopping and entertainment.

Targeted at early-career professionals and families earning at least ₹20,000 per month, this card bridges the gap between high-end lifestyle cards and basic entry-level options. It is especially useful for those who prefer physical store shopping over digital apps.

What makes this card stand out:

• High Reward Multiplier: Get 10 reward points for every ₹150 spent on dining and movies, compared to just 1 point on other categories.
• Effective Zero Joining Fee: Spend just ₹2,000 in your first 60 days to get 2,000 bonus points, which covers the ₹499 joining fee entirely.
• Low Maintenance: The annual fee is waived off if you spend more than ₹1,00,000 in a year, which is less than ₹8,500 per month.

Quick Eligibility Check: To get this card, you need a minimum income of ₹3 Lakh per year (salaried) and a credit score (CRIF) of 720 or higher. Let us dive into the details of how this card actually puts money back in your pocket.

Key Benefits and Features of the SBI Simply Save Credit Card

The SBI Simply Save Credit Card is designed to be a "daily driver" for your wallet. It does not distract you with complex travel perks you might never use; instead, it focuses on the things you actually spend money on every week.

Welcome Bonus that Covers Your Costs

When you sign up, you do not have to worry about the ₹499 joining fee. If you use the card to spend ₹2,000 or more within the first 60 days of getting it, SBI credits your account with 2,000 bonus reward points. Since 1 reward point is worth ₹0.25, these 2,000 points are worth exactly ₹500. This effectively makes the card free for the first year.

10X Reward Points on Daily Essentials

The core strength of this card is the 10X reward structure. While standard spends earn you 1 reward point per ₹150, you earn 10 reward points for every ₹150 spent on dining and movie tickets. These points are capped at 5,000 bonus points per month, which is quite generous for a card at this price point. Whether you are catching a blockbuster at the cinema or taking the family out for dinner, you are earning a 1.67% value back on every swipe.

Annual Fee and Waiver Conditions

The card comes with a renewal fee of ₹499. However, you can make this card free for life by simply using it. If your total spends in the previous year exceed ₹1,00,000, SBI waives the ₹499 annual fee for the next year. If you use this card for your monthly groceries and utility bills, hitting that ₹8,333 monthly target is quite simple for most households.

Fuel Surcharge Waiver

To help you save at the pump, this card offers a 1% fuel surcharge waiver. This applies to transactions between ₹500 and ₹3,000 at any petrol pump in India. You can save up to ₹100 per statement cycle, which adds another ₹1,200 to your potential annual savings.

Reward Redemption Made Simple

You do not have to jump through hoops to use your points. You can redeem them for e-vouchers from popular brands, book flights through travel partners like Cleartrip or Yatra, or choose products from the SBI Card rewards catalogue. With 1 point equaling ₹0.25, your savings grow steadily with every purchase.

How to Apply for SBI Simply Save Credit Card

The application process is straightforward and can be completed online or offline. Follow these steps to get your card:

1. Visit the official SBI Card website or a partner platform to start your application.
2. Ensure you meet the minimum age of 21 and the income requirement of ₹20,000 per month.
3. Fill in your personal details, including your full name, mobile number, and city of residence.
4. Provide your employment details. Remember, salaried individuals need an annual income of ₹3 Lakh, while self-employed individuals should have ₹4.2 Lakh.
5. Input your PAN card number and Aadhaar details for digital verification.
6. Verify your credit score. A CRIF score of 720 or above significantly improves your chances of approval.
7. Submit the application and wait for a call from an SBI representative to schedule document collection or complete Video KYC.

Credit Limit: What to Expect

Credit limits for the SBI Simply Save Credit Card are not fixed. They are assigned based on your specific financial profile. The bank looks at your monthly income, your existing debt-to-income ratio, and your credit history. For an entry-level card like this, starting limits range between ₹30,000 and ₹75,000 for new-to-credit users. If you have a high income or a long relationship with SBI, you might receive a much higher limit. Your specific credit limit is determined during the underwriting process based on your verified income documents and credit score.

Comparison Table: SBI Simply Save vs. Competitors

Before choosing the Simply Save card, it is helpful to see how it stacks up against other popular entry-level credit cards in India.

Expert Opinion: Choose SBI Simply Save if your spending happens in physical stores, restaurants, and movie theaters. However, if you do 90% of your shopping on Amazon or Flipkart, the HDFC MoneyBack+ might offer better value for your specific habits.

Documents Required for SBI Simply Save Credit Card Application

You'll need to submit the following documents when applying:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), Rent Agreement, or Property Tax Receipt
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements
• Employment Proof: Office ID card or employment letter

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving License
• Address Proof: Aadhaar Card, Passport, Utility Bills (not older than 2 months), or Property Documents
• Income Proof: Latest 2 years' ITR with computation of income, 6 months' bank statements, and CA-certified financials
• Business Proof: Business registration certificate, GST registration (if applicable), or Shop Act License

Note: All documents must be self-attested. The bank will request these documents via Video KYC or physical collection to complete verification.

Who Should Get This Card?

Should you get the SBI Simply Save Card? Here's who benefits most:

The Weekend Socializer: If you are someone who heads to the mall every weekend for a movie and a meal, this card is a perfect fit. If you spend ₹5,000 monthly on these outings, you would earn 4,000 points annually just from this category, plus your regular shopping points. This easily covers the annual fee and gives you extra to spend on vouchers.

The Grocery Planner: Families spending ₹10,000 a month on groceries and departmental stores can use this card to hit the ₹1 Lakh fee waiver target effortlessly. By consolidating your household expenses on this one card, you ensure it stays free of cost while accumulating points for your year-end holiday bookings.

The First-Time Card User: If you have just started your career with a salary of ₹25,000 and have a decent credit score of 720, this is one of the easiest cards to get approved for. It helps you build a credit history without overwhelming you with complex reward rules.

You might want to skip this card if: You spend most of your money on rent, insurance, or online-only brands. These categories are excluded from reward earnings, making other cards like the SBI Cashback card a better choice for digital-heavy spenders.

BankKaro Expert Review

Based on the card's features, the SBI Simply Save Credit Card excels at rewarding the "traditional" spender. In an era where every card is chasing online shoppers, it is refreshing to see a card that offers high value for eating out and going to the cinema. The 10X reward rate on these categories is surprisingly high for a card with a ₹499 fee.

The biggest limitation of this card is the extensive list of exclusions. You will not earn rewards on rent, insurance, utilities, or school fees. This means you cannot just put "every" expense on this card and expect points. Furthermore, the base reward rate of 1 point per ₹150 (0.16% value back) is quite low compared to competitors who offer 1% on all spends.

Our verdict: Choose this card if you want a reliable, low-cost entry into the SBI ecosystem and your lifestyle involves frequent dining and offline shopping. It is a solid "starter" card that pays for itself if you spend just ₹8,500 monthly. If you are a heavy traveler or a hardcore online shopper, look elsewhere.

Terms and Conditions

When using your SBI Simply Save Credit Card, please note that the following transactions do not earn reward points or count toward certain benefit thresholds:

• Cash Advances and ATM Cash Withdrawals
• EMI Spends (including purchases converted to EMI)
• Bank Charges, Fees, and Late Payment Fees
• Processing Fees and Financial Charges
• Interest Charges and Payment Returned Charges
• Service or Transaction Charges
• Fuel Spends and Toll Payments
• Government-related Transactions and Taxes
• Utility Bill Payments and Telecom Expenses
• Insurance Payments and Rent Payments

Refer to the comprehensive Cardholder Agreement included in your welcome kit for the official legal terms and conditions.