SBI Credit Card Eligibility

From travel rewards and shopping benefits to fuel surcharge waivers and contactless payment perks, SBI credit cards offer a cross-section of benefits to cardholders. However, to apply for an SBI credit card, you must meet the eligibility criteria set by the bank. 

While your SBI credit card’s eligibility is based on several aspects like the applicant type and card variant, here’s a quick overview of the general checklist:

• Age: You must be between the ages of 21-70 years

• Residency: You must be an Indian resident

• Employment: You must be a self-employed or salaried individual

• Income: You must have a stable and regular source of income

• Credit Score: You must have a good credit score - preferably above 700

 

Note: The minimum salary eligibility criteria to apply for the SBI credit card will vary depending on the selected card variant.

To complete the application process, you will also have to keep a few KYC documents handy for the video KYC process. These include:

• AADHAR Card (or any other valid address proof document)

• PAN Card

 

Apart from these identity and address proof documents, your latest payslips and ITR copies may be included in the SBI credit card documents required list. These documents might be listed to verify your income eligibility for the card. 

While the eligibility parameters for different SBI credit cards differ, the following common factors play a crucial role in determining your chances of approval.

1. CIBIL Score

Your credit score directly impacts your chances of securing an SBI credit card. It’s essentially a condensed representation of your credit and repayment track record.

2. Employment Stability 

While meeting SBI credit card eligibility and minimum salary requirements is important, it is equally important to demonstrate a stable employment trajectory. Lenders interpret a stable employment history as a positive sign since those with regular monthly incomes are likely to repay dues on time.

3. Past Credit Enquiries 

Each time you apply for a line of credit - be it a loan or credit card - the lender initiates a hard enquiry into your credit score. Multiple enquiries within a short time span can negatively impact your score since lenders can perceive them as financial instability.

4. Residency 

To apply for an SBI credit card, your location must fall within the serviceable areas listed by the bank. If you live in an area blacklisted by the bank, you might not qualify for the card. However, since SBI is a leading public sector bank, its serviceability radar covers most Indian cities and locations.