- Detailed feature of SBI OLA Money Credit Card like Cashback on OLA Rides and Discounts on Dineout.
- Know the fees and charges of the SBI Credit Card.
Good news for frequent and regular travellers. SBI has launched a credit card with interesting cashback and discounts on OLA rides. The card’s name is SBI OLA Money Credit Card that can be applied without any charge or fees. There are no charges for the card in the first year. You can earn a lot of Reward Points on OLA rides and bookings on Clear trip. Explore all the features of the credit card and then apply for it.
Quotes from 11 banks | Best Offers and Rewards
Table of Contents
- 1 All the Features of SBI OLA Money Credit Card
- 2 Other Benefits of the SBI OLA Money Credit Card
All the Features of SBI OLA Money Credit Card
Rewards on OLA Rides and other Transaction
- 7% Reward points on all the OLA Rides.
- Additional 8% Reward on OLA Rides for the first year.
- Get a Reward Point of 1% on all the other transactions.
Terms and Conditions
- An Additional 8% Reward will be given on OLA Rides in the first year only if you apply for the credit card before the 31st of December 2019.
- 1 Reward Point is equal to 1 Rupee.
- Earned Reward Points will be credited into your OLA wallet.
Offers on Cleartrip
- Earn a Cashback of 5% on domestic flight bookings using Cleartrip with a maximum cashback of ₹5000 per transaction.
- 5% Cashback on booking international flights using Cleartrip with a maximum cashback of ₹15000 per transaction.
- Get a Cashback of 20% on booking hotels from Cleartrip.
- 6% Cashback on booking international hotels via Cleartrip.
- Get 12% Cashback on all the booking activities on Cleartrip.
Terms and Conditions
- All the cashback will be credited in OLA Money Wallet.
- Apply the Coupon Code OLACC to get the cashback.
- This offer is valid up to 30th April 2020.
Exclusive offers on Dineout
- Get a Cashback of 20% on Payments done on Dineout with a maximum cashback of ₹200 of the bill amount.
- Make payments in 6000+ restaurants through Dineout.
Terms and Conditions
- All the Cashback will be credited in the OLA Money wallet.
- The maximum cashback that can be earned is ₹3000 per year.
- Maximum 5 Cashback can be earned in a month and 3 Cashback from the same restaurant.
- Get Fuel Surcharge Waiver of 1% at fuel stations across India.
- Get a maximum surcharge waiver of ₹100 per statement cycle.
Other Benefits of the SBI OLA Money Credit Card
Globally Accepted – You can use the OLA Money Credit Card over 24 million outlets present across the world. There are 325000 outlets in India. You can easily make payments through this card at any outlet that is comfortable in accepting Visa or MasterCard.
Add more Cards – There is a facility to add more cards to your family. You can get a card for your parents, spouse, children, and siblings qualifying the age of 18 years.
Bill Payments – You can also pay your mobile, electricity, telephone, and other utility bills through the SBI OLA money Credit card.
Balance Transfer – You can transfer your outstanding bill of other bank’s credit card to your OLA Money card. This facility will help you to pay the pending amount in EMIs and at a lower rate of interest. You can save your money on the credit card bill payment.
– For 3 Months EMI- ROI will be 0.75% per month and processing fee of 1.5% or ₹199 whichever is higher.
– For 6 Months EMI- ROI will be 1.27% per month and processing fee of 1.5% or ₹199 whichever is higher.
Flexipay – Now, you can convert your transactions into monthly installments. Use the credit card to make a purchase worth ₹2500 and log in to the SBI Card website within 30 days from the date of purchase in order to convert the transaction into Flexipay.
Convenient Money Facility – You can take a draft or cheques from the bank on the behalf of your credit card limit. Log on to the official website of SBICard and use the easy money facility.
Rates and Charges of the Credit Card
Fee of the Card
|Renewal Fee||₹499 per year|
|Add on Fee||NIL|
|Make a Transaction of more than 1 lac in a year||Renewal Fee - NIL|
|Credit Period without any interest||20-50 Days (Applicable on Retail Purchases and outstanding bill of the previous month is fully paid))|
|Interest Rate for the Credit||Up to 3.35% Per Month or 40.2 per annum|
|Minimum Amount Due Charges||5% of the Outstanding Balance|
Cash Advance Charges and Fee
- The Cash Advance Limit is up to 80% with a maximum amount of ₹12000 per day.
- There is no interest-free credit period.
- The monthly rate of interest is 3.35% that means 40.2% per annum.
- Withdrawal from SBI or Other Domestic ATMs- 2.5% per transaction with a minimum of ₹500.
- Withdrawal from International ATMs- 2.5% per transaction with a minimum of ₹500.
Other Charges of SBI OLA Money Credit Card
|Statement Retrieval Charges||₹100 per Statement|
|Cheque Pickup Charges||₹100|
|Cheque Fees for Credit Card Payment||₹100 up to the payment of ₹10000|
|Cheque Dishonour Fees||2% of the Amount or a minimum of ₹450|
|Over limit Charges||2.5% of the over-limit amount with a minimum of ₹500|
|Card Replacement Fees (when abroad)||NIL|
|Foreign Currency transactions||Conversion Mark up 3.5%|
|Reward Points Redemption Fee||₹99|
|Cash Payment of Credit Card Bill||₹199|
|Railway Ticket Booking through counters||₹30 + 2.5% of the transaction amount|
Late Payment Charges
|Amount Due ₹0 - ₹200||NIL|
|Amount Due ₹201 - ₹500||₹100|
|Amount Due ₹501 - ₹1000||₹400|
|Amount Due ₹1001 - ₹10000||₹600|
|Amount Due ₹10001 - ₹25000||₹800|
|Amount Due above ₹25000||₹950|
SBI OLA Money Credit Card Payment Options
You can make the SBI credit card online payment to clear all your dues. The various payment option for paying the SBI OLA Money Credit Card bills are as follows:-
- National Electronic Fund Transfer
- Pay online through Paynet
- Clear Dues through Visa Credit Card
- Use SBI Online to Make Payments
- Electronic Bill Payment
- National Automated Clearing House
- Auto Debit Payment
- Pay Bills through Debit Card
- Use SBI Mobile App for Credit Card Payments
- Pay through UPI
- Use YONO for fast payment