SBI Lifetime Free Credit Cards: An Overview of Features and Benefits 2023

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SBI Lifetime Free Credit Card
SBI Lifetime Free Credit Card

 

Introduction to SBI Lifetime Free Credit Cards

If you are new to the credit industry and lack a satisfactory credit history or score, a lifetime free credit card is an ideal option to commence your credit journey. SBI Lifetime Free credit cards do not impose any joining or renewal fees on the cardholder, enabling them to avail of its features and benefits without incurring any financial burden.

Credit cards are designed to cater to diverse segments of society, ranging from affluent individuals to novices in the credit domain. While premium and mid-range cards offer many advantages, they have higher joining and renewal charges. Lifetime-free credit cards may provide fewer privileges than their superior counterparts, but they still offer many benefits and perks.

SBI offers a selection of credit cards available on a lifetime-free basis and other viable options that require a nominal joining fee and provide supplementary benefits. These cards can be availed without charge by fulfilling the spend-based renewal fee waiver or meeting other specified criteria. We shall examine the most advantageous SBI lifetime-free credit cards and other reasonably priced alternatives.

SBI Lifetime Free Credit Cards

The subsequent credit cards from SBI are deemed the most superior options that can be obtained without incurring any joining or annual fees.

OLA Money SBI Credit Card

OLA Money SBI Credit Card
OLA Money SBI Credit Card

The credit card offered by OLA Money in collaboration with the State Bank of India is the OLA Money SBI Credit Card. The Ola Money SBI credit card is a co-branded credit card that offers a range of benefits to its users. With no joining fees, this card provides up to 7% reward points on OLA rides and 1% on other spends. These points are automatically credited to the OlaMoney wallet, allowing easy redemption. Additionally, the card offers cashback on bookings made through Cleartrip for hotels, flights, and other activities. The cashback rates are 5% for flights, 10% for domestic hotels, 6% for international hotels, and 12% for activities. Furthermore, the card provides a 1% fuel surcharge waiver and a spend-based renewal fee waiver. The renewal fee of Rs. 499 can be reversed by spending Rs. 1 Lakh or above in the previous year.

  • There are no joining fees associated with the card.
  •  Customers can receive up to 7% reward points on their OLA rides and up to 1% on other expenditures.
  • Furthermore, a cashback of 5% is available for flights, 10% for domestic hotels, 6% for international hotels, and 12% for activities booked through Cleartrip. 
  • The card also offers a 1% fuel surcharge waiver and a renewal fee waiver based on spending.

Joining FeeNil
Renewal Fee1% Reward Points on all spends
Best SuitedTravel
Reward TypeReward Points
Welcome BenefitsYou get a flight voucher worth Rs. 300 and an EaseMyTrip voucher worth Rs. 2000.

Other Features of OLA Money SBI Credit Card

The OLA Credit Card offers many exciting benefits and rewards to enhance your travel experience. With attractive rewards points, travel benefits, and fuel benefits, this credit card is designed to provide convenience and savings to cardholders.

Reward Point Benefits

With the OLA Credit Card, you can earn reward points on all your spending made on OLA rides. You will receive 7% reward points for every spend, which will be accumulated in your OLA Money Wallet. These reward points can be redeemed for various OLA services, providing you with savings and additional benefits.

Additionally, you will be rewarded with 1% reward points for all other spending made on the card. These points will also be automatically credited to your OLA Money wallet, allowing you to accumulate rewards even on non-OLA transactions.

Travel Benefits

The OLA Credit Card offers attractive travel benefits for bookings made on Cleartrip, one of India’s leading travel platforms. When you book flight tickets on Cleartrip using the OLA Credit Card, you can enjoy a cashback of 5%. This cashback saves your air travel expenses, making your journeys more affordable.

For domestic hotel bookings made on Cleartrip, you can receive up to 10% cashback. This allows you to enjoy discounted rates on your accommodation, whether you’re planning a business trip or a leisurely getaway within India.

Furthermore, for international hotel bookings made on Cleartrip using the OLA Credit Card, you can avail a cashback of 6%. This cashback feature is designed to make your international travel more cost-effective, providing substantial savings on your hotel expenses.

Moreover, the OLA Credit Card offers a generous cashback of 12% on all activities booked on Cleartrip. Whether exploring local attractions or planning exciting adventures during your travels, this cashback benefit allows you to enjoy more memorable experiences while keeping your budget in check.

Fuel Benefits

The OLA Credit Card understands the importance of fuel savings and offers attractive benefits in this area. With this OLA Credit Card, you can enjoy a waiver of the fuel surcharge, typically 1%, on all your fuel transactions across the country. This benefit applies to fuel purchases made at any fuel station in India.

The maximum waiver provided for fuel transactions is Rs. 100 per month. By utilizing this benefit, you can save on fuel expenses and have more disposable income for other essential needs.

SBI Unnati Credit Card

SBI Unnati Credit Card
SBI Unnati Credit Card

The State Bank of India offers a secured credit card known as the SBI Unnati credit card. To be eligible for this card, a fixed deposit of at least Rs. 25,000 with SBI is required. This fundamental card does not entail a joining fee and does not levy any annual fee for the initial four years. The Unnati credit card provides one reward point for every Rs. 100 spent and offers cashback worth Rs. 500 on spending Rs. 50,000 or more within a year. Additionally, the card provides a 1% fuel surcharge waiver.

Joining FeeNil
Renewal Fee1 reward point per Rs 100 you spend
Best SuitedShopping
Reward TypeReward Points
Welcome BenefitsNA

Other Features of SBI Unnati Credit Card

Add-on Cards for Family Members

SBI Unnati Credit Card understands the importance of shared finances and offers the convenience of add-on cards. Parents, spouses, children, or siblings above 18 can be eligible for add-on cards. This feature allows cardholders to extend their credit card benefits to their loved ones, making it an ideal choice for family-oriented individuals.

Balance Transfer on EMI

One key feature that sets the SBI Unnati Credit Card apart is its balance transfer facility. Cardholders can transfer their outstanding credit card balances from other banks to their SBI Card Unnati. This can be done at a lower interest rate, and the outstanding amount can be repaid in convenient EMIs. To avail of this facility, cardholders can simply log on to sbicard.com with their user ID and password, making the process hassle-free and user-friendly.

Flexipay: Convert Purchases into Monthly Installments

The Flexipay facility SBI Unnati Credit Card provides allows users to convert their transactions into manageable monthly instalments. Cardholders can log in to sbicard.com within 30 days of their purchase, using their username and password, to convert their purchases into Flexipay. This feature benefits high-value purchases, allowing individuals to spread the cost over time. The minimum purchase requirement for Flexipay is Rs. 2,500 using the SBI Card Unnati.

Book an FD and Get a Step Up Credit Card

Obtaining a credit card can be challenging for individuals with no credit score or limited credit history. However, SBI Unnati Credit Card provides a unique solution. By booking a Fixed Deposit (FD) with SBI, applicants can secure a Step Up Credit Card without needing a credit score check. This feature opens credit card access to a broader range of individuals, making it an inclusive and user-friendly offering.

Easy Money: Convenient Cash Withdrawals

Emergencies can strike anytime, and quick access to cash becomes crucial. SBI Unnati Credit Card offers the Easy Money facility, allowing cardholders to obtain a draft or cheque against their cash limit. These drafts or cheques can be delivered directly to their doorsteps, ensuring convenience and peace of mind.

Utility Bill Payment Facility

Paying utility bills can often be a cumbersome task. However, with the SBI Unnati Credit Card, this process becomes hassle-free. Cardholders can quickly pay electricity, telephone, mobile, and other utility bills through the Easy Bill Pay facility. This convenient feature saves time and effort, allowing users to manage their bills efficiently and effectively.

Cash on the Go: Global ATM Access

In today’s interconnected world, access to cash on the go is essential domestically and internationally. SBI Unnati Credit Card provides cardholders with the convenience of cash withdrawals from over 1 million Visa or MasterCard ATMs worldwide. This extensive network ensures that users can access cash whenever and wherever they need it, offering peace of mind and financial security.

SBI Shaurya Select Credit Card

SBI Shaurya Select Credit Card
SBI Shaurya Select Credit Card

As indicated by its vocabulary, the Shaurya Select card is specifically designed for individuals actively serving the nation in the army, navy, air force, and paramilitary. The card is exempt from any joining fee, and the renewal fee of Rs. 1499 can be waived upon expenditure of Rs. 1.5 Lakhs or more during the card anniversary year. The card offers the opportunity to earn 1500 bonus RPs upon renewal and up to 10 RPs per Rs. 100 spent.

  • This offer is exclusively available to defence personnel employed by the army, paramilitary, navy, and air force. 
  • Customers can earn 10 reward points for every Rs. 100 spent on movies, dining, grocery, and departmental stores, and 2 rewards for every Rs. 100 spent elsewhere. 
  • Additionally, customers will receive a bonus of 1500 reward points upon card renewal.
  •  Upon achieving the quarterly spend milestone, customers will receive a Pizza Hut voucher, and upon achieving the annual spend milestone, customers will receive a Pantaloons/Yatra voucher. 
  • This offer includes personal accident insurance coverage, a 1% fuel surcharge waiver, and a spend-based renewal fee waiver.

Joining FeeNil
Renewal Fee2 Reward Points on every spend of Rs. 100, 5x Reward Points on dining, groceries, departmental stores, and movies
Best Suited ForShopping
Reward TypeReward Points
Welcome BenefitsNA

Advantages of SBI Lifetime Free Credit Cards

The advantages of SBI lifetime free credit cards, as well as other low joining fee credit cards, are as follows:

  • These cards do not levy any joining or annual fees on the cardholders. 
  • One must undergo a straightforward and convenient process to apply for these cards.
  •  Ensuring that the eligibility criteria are met and the necessary documents are provided during the application process is imperative. 
  • While mid-range and premium credit cards cater to high net-worth individuals, lifetime free cards cannot compete with them.
  • Nevertheless, lifetime free cards still provide numerous enticing offers and discounts to customers.
  • One can derive various benefits across a range of domains, such as travel, entertainment, lifestyle, shopping, movies, and dining, among others, by using these cards. 
  • Additionally, using the card can enhance one’s credit score and establish a respectable credit history and profile. 
  • The reward rate offered by these cards is noteworthy, and one can redeem their accumulated points for a diverse array of products or vouchers, offset their card statement balance, transfer to Airmiles, and more. 
  • These credit cards facilitate the execution of multiple tasks, and upgrading to superior, premium cards in the future is a hassle-free process.

What are the Eligibility Criteria to apply for SBI Lifetime Free Credit Cards?

To apply for lifetime free credit cards, you must satisfy the prescribed eligibility criteria and furnish the requisite documentation along with your application.

  • It is required that the applicant falls within the age range of 21 to 70 years. 
  • Additionally, the applicant must possess Indian citizenship and maintain a respectable credit score.
  •  Furthermore, the applicant should either be self-employed or salaried with a consistent and reliable source of income.

What are the Documents Required to apply for SBI Lifetime free Credit Cards?

The submission of certain documents is mandatory when seeking to obtain lifetime free and other credit cards. 

These documents include: 

  • Identification Proof – Aadhar Card, PAN Card, Driver’s License, Passport, and other relevant documents. 
  • Address Proof – Aadhar Card, Rent Agreement, Ration Card, Passport, Latest Utility Bills, and other relevant documents. 
  • Income Proof – Salaried individuals must furnish their latest two months’ salary slips and bank statements. 
  • Self-employed individuals must provide the previous year’s audited Income Tax Return (ITR).

How to Apply for SBI Lifetime Free Credit Cards

To apply for SBI lifetime free and other credit cards, kindly adhere to the following steps: 

  1. Firstly, visit the official SBI Card website
  2. Secondly, locate the Credit Cards button at the page’s top. 
  3. Thirdly, you may search for credit cards based on income and card categories. 
  4. Fourthly, click Learn More beneath your credit card to obtain comprehensive information regarding its details, features, and offerings. 
  5. Lastly, click on Apply Now to submit your application for the credit card you desire to acquire.

Executive Summary

Generally, a card designated as a lifetime free card does not impose any annual, renewal, or joining fees upon the cardholder. Among such cards, those offered by SBI are among the most favourable. While it is true that LTF cards do not offer the same level of elite benefits and privileges as certain super-premium and mid-range cards, they nonetheless provide significant advantages to their holders.

SBI lifetime free credit cards are ideal for novice credit users, particularly young professionals. Individuals can use the card judiciously and responsibly to enhance their credit history and score. These lifetime free credit cards serve as a valuable tool for establishing a favourable credit profile, enabling individuals to apply for superior, premium credit cards and loans.

The article above discussed the most optimal SBI lifetime free credit cards and other cost-effective and budget-friendly cards the bank provides. We kindly request that you share your intentions of applying for any of these credit cards or your experience utilizing one in the comments section below.

FAQs: SBI Lifetime Free Credit Cards

Q1: What are lifetime free credit cards?

A: Lifetime-free credit cards are credit cards that do not charge any joining or annual fees to the cardholder.

Q2: Why should I consider SBI Lifetime Free credit cards?

A: SBI Lifetime Free credit cards are a good option for beginners in the credit industry who don’t have a strong credit history. These cards allow you to enjoy credit card benefits without any financial burden.

Q3: What are the advantages of SBI Lifetime Free credit cards?

A: The advantages of SBI Lifetime Free credit cards include no joining or annual fees, various offers and discounts, the ability to improve your credit score, and easy upgrade options to premium cards in the future.

Q4: Which are the most advantageous SBI Lifetime Free credit cards?

A: The most advantageous SBI Lifetime Free credit cards are the OLA Money SBI Credit Card, SBI Unnati Credit Card, and SBI Shaurya Select Credit Card.

Q5: How can I apply for SBI Lifetime Free credit cards?

A: To apply for SBI Lifetime Free credit cards, visit the official SBI Card website, choose the desired card, and click “Apply Now” to submit your application.

Q6: What are the eligibility criteria for SBI Lifetime Free credit cards?

A: The eligibility criteria for SBI Lifetime Free credit cards include being aged between 21 to 70 years, having Indian citizenship, maintaining a good credit score, and having a reliable source of income.

Q7: What documents do I need to apply for SBI Lifetime Free credit cards?

A: You will need identification proof (such as Aadhar Card or PAN Card), address proof (such as Aadhar Card or utility bills), and income proof (salary slips or audited Income Tax Returns for self-employed individuals).

Q8: How can I earn rewards with SBI Lifetime Free credit cards?

A: With SBI Lifetime Free credit cards, you can earn reward points on your spending, which can be redeemed for various benefits like discounts on OLA rides, cashback on travel bookings, and more.

Disclaimer

The information provided in this credit card review is for general purposes only. It is not financial advice or a recommendation to apply for any specific credit card. We strive to provide accurate and up-to-date information, but the credit card terms and conditions may change without notice. Please consult with a financial professional or do your own research before making any decisions. We are not responsible for any actions you take based on the information provided in this review. Use your own judgment and consider your personal financial situation before applying for a credit card.

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