SBI Student Plus Advantage Credit Card – Benefits & Eligibility

Students who take education loans may also need a simple way to manage everyday expenses during their study period. The State Bank of India offers the SBI Student Plus Advantage Credit Card, specifically designed for its education loan borrowers and issued against a fixed deposit maintained with the bank. It allows students to access limited credit for daily purchases and digital payments while studying. Knowing the card’s features, charges, and eligibility conditions can help students understand how it fits their financial needs.

The SBI Student Plus Advantage Credit Card is a specialised credit card offered by the State Bank of India for customers who have taken an education loan from the bank. It is issued against a fixed deposit maintained with SBI, making it a secured credit card for students who may not have a regular income. The credit limit on the card is generally provided up to 70% of the fixed deposit amount, allowing students to access controlled credit for purchases while keeping the card backed by their deposit.

Disclaimer: SBI Student Plus Advantage Credit Card is not a Bajaj Markets partner product. Offers would be from partner Banks/NBFCs only.

The State Bank of India Student Credit Card is designed for students who have opted for its education loan. It is a secured credit card issued against a fixed deposit with SBI, with a minimum deposit of ₹5,000. Based on the deposit, the credit limit is generally up to 70% of the fixed deposit amount, giving students controlled access to credit even without a regular income.

This card is available only to SBI education loan customers, ensuring it serves the intended audience of students. It works like a standard credit card for transactions at retail outlets, online merchants, and ATMs that accept Visa or Mastercard. Cardholders can easily view statements and manage payments online through SBI Card’s platforms. Its secured nature makes it accessible to students who may not qualify for regular unsecured cards, while still offering the usual credit card features.

The SBI student card benefits are tailored to student spending patterns and everyday needs. With this card, you earn 1 reward point for every ₹100 you spend, which can be redeemed later for gifts or to pay towards your outstanding balance. There’s also a fuel surcharge waiver on fuel transactions between ₹500 and ₹3,000, helping lower everyday costs. For larger purchases, the card offers the Flexipay facility, allowing transactions above ₹2,500 to be converted into EMIs.  

The card also lets you use the balance transfer facility, which means you can transfer outstanding bills from other credit cards and repay them at a lower interest rate. Along with these, the card gives students access to cash withdrawals from ATMs and usage across millions of outlets worldwide, making it a flexible and accessible tool while studying. Lastly, an important point to note is that the annual fee of ₹500 is waived if you spend ₹35,000 or more in a year, making the card even more cost-effective for active users.

To qualify for the SBI Student Plus Advantage Credit Card, you must meet specific eligibility conditions:

• The applicant must be an education loan customer from the State Bank of India

• The card is issued against a fixed deposit held with SBI (minimum deposit typically ₹5,000)

• The student’s age at the time of applying must be at least 18 years. Students under 18 will be issued an add-on card, while the primary card will be issued to their parents.

When applying for the SBI Student Plus Advantage Credit Card, students need to submit the following documents to complete their application:

• Identity proof such as PAN, Aadhaar, Passport, Voter ID, or Driving Licence

• Address proof such as Aadhaar, Passport, utility bill, or driving licence

• Fixed deposit receipt with SBI

• Passport-size photograph

• Education loan account statement from SBI

• Student ID card

If you satisfy the eligibility criteria and have all of the documents listed above with you, you can proceed to apply for the SBI Student Plus Advantage card. As this credit card is not available on the Bajaj Markets website, the application needs to be completed through the official SBI Card website. The entire SBI Student Plus Advantage Credit Card application process can be done online.

Alternatively, you can also physically visit any one of the branches of SBI, fill in the SBI credit card application manually, attach all the necessary documents and submit the same to the bank officials as well.