SBI Credit Card Documents and Eligibility

SBI Credit Card Documents and Eligibility

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SBI Documents and Eligibility

A credit card has long been a financial tool that is ideal for making purchases that are slightly more expensive than the products you usually buy for sustenance. With a credit card, premium products can be yours when you wish to purchase them.

SBI Credit Cards

Credit cards offered by State Bank of India (SBI) are universally acknowledged to be one among the best credit cards that anybody residing in India can avail. The rates are significantly more reasonable than those offered by any other company. SBI offers cards that are suited for a range of lifestyle requirements. SBI also offers credit cards for students with low interest rates & exciting offers.

SBI Credit Card Eligibility

Any SBI card’s eligibility needs to be checked before you begin the process of credit card application. Do your SBI credit card eligibility check from the points listed below to get started on the process.

  • The foremost point in checking SBI bank credit card eligibility is that you must be aged between 21 to 60 years.

  • When you do the SBI credit card eligibility check online, you will be notified that your add-on applicant also needs to be aged over 18 years.

  • The applicant can be either a self-employed or salaried professional, student or a retired pensioner.

  • The primary applicant is required to incur a gross annual income amounting to up to Rs. 3 lakh.

If you are a student or a salaried professional, and you have wondered: what is the eligibility for an SBI credit card, you can find the answers below.

Eligibility Criteria for Salaried Professionals:

  • Applicant needs to be a resident Indian

  • Applicant must be aged between 18 to 65 years

  • Applicant’s CIBIL score needs to be above 750

  • Applicant needs to be able to demonstrate a regular source of income, with a minimum income of Rs. 2 lakh annually

  • For an SBI credit card, documents such as salary slips from the last 3 months and bank statements need to be provided by the applicant along with proof of identity, age and address

Eligibility Criteria for Self-Employed Professionals:

  • Applicant must be aged between 21 to 65 years

  • Applicant can be either a resident Indian or a Non-Resident Indian (NRI)

  • Applicant’s CIBIL score must be ideally above 750

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    Applicant’s credit history must not include credit card payment defaults

     

  • Applicant must have a regular monthly income of above INR 18,000

Eligibility Criteria for Students:

If you are wondering how to check SBI credit card eligibility as a student, read on to know more.

  • Applicant must be a resident Indian

  • Applicant needs to be aged more than 18 years

  • The major SBI card eligibility check is whether you can furnish KYC-compliant documents including proof of your age and college enrollment along with a PAN Card

  • Applicant must have a fixed deposit account with a minimum amount of Rs. 25,000

Once you have done your SBI Card eligibility check, you need to understand the factors that affect the SBI credit card eligibility details.

Factors Affecting SBI Credit Card Eligibility Criteria

While age and income are the major determinants of whether you can avail a SBI credit card, there are some other factors that affect your chances. For an SBI credit card, documents required will always be proof of your income, identity and age. Read on to learn about which other factors determine your eligibility.

  • Credit Profile:

Your credit score as determined by your financial activities and credit history is a major determinant behind whether you can avail a SBI credit card. Requirements for SBI credit card include a high credit score and a good credit profile which is only possible if you have maintained a healthy credit score in the past. 

  • Stability of Job:

For availing a SBI bank credit card, documents required include proof of your employment and income. This will include details of how long you have held the job and how stable your income stream is. 

  • Number of Enquiries Raised for Credit:

While this is related to your overall credit score and profile, availing a SBI card requirements include the bank checking how frequently you have raised queries for availing credit. This will further determine your reliability as a borrower. 

  • Location:

SBI bank credit card requirements include the applicant residing in an area not blacklisted by SBI. Since most areas in the country are serviced by SBI, this will hardly be a problem.

Despite the range of factors affecting your SBI credit card eligibility, there are ways you can improve your chances too. Read on to learn more about how for an SBI credit card you apply, eligibility can be enhanced.

Improving your SBI Credit Card Eligibility

  1. Work on your credit score and improve it by closing non-functional bank accounts, repaying previous loans and making necessary repayments on existing credit cards

  2. Ensure your outstanding loans are paid off, and thereby increase your Debt-to-Income ratio

  3. While applying for SBI credit card, avoid making too many other enquiries for credit as this will lower your overall score

  4. On active credit lines, avoid making late payments, fees or fines related to delayed payments and bounced cheques

SBI Credit Card Documents Required

While applying for a SBI credit card, you will be required to submit several documents, which have been listed below for your easy reference.

  • Proof of Identity:

This is the most important document you are required to furnish while applying for an SBI credit card. This could include your Aadhaar card, PAN Card, passport, voter’s ID, driver’s license, Person of Indian Origin card, Overseas Citizen of India card, a letter issued by UIDAI, a NREGA issued job card, etc.

  • Proof of Residence:

While the Aadhaar Card is the most commonly used document used for demonstrating proof of residence, you could also furnish your passport, driver’s license, ration card, a utility bill from the last 3 months, bank account statements, property registration documents, job card issued by NREGA, Person of Indian Origin card.

  • Proof of Regular Source of Income:

These documents could include your bank statements from over the last 3 months, payslips issued by your employer over the last 3 months, filings of ITR or Form 16. card.

FAQs

  • ✔️Who is eligible for an SBI Credit Card?

    SBI Credit Cards can be availed by students, professionals who are salaried or self-employed as well as retired pensioners.

  • ✔️What is the minimum salary requirement for availing a SBI Credit Card?

    The minimum salary requirement for you to avail a SBI Credit Card is Rs. 2 lakh per year.

  • ✔️Can a student apply for a SBI Credit Card?

    Yes, students can easily apply for a SBI Credit Card.

  • ✔️How does my SBI Credit Card get activated?

    Once you have received details of your card, head to the website and login with your credentials. Go to the ‘Requests’ tab and click on ‘Card Activation’. Authorise the activation by clicking ‘Activate’.

  • ✔️Can money be withdrawn from my SBI Credit Card?

    Yes, you can withdraw money from your SBI Credit Card but the limit will be lesser than your credit limit. You will be intimated of the withdrawal limit once you have received the card.