Credit cards make life easier for a lot of reasons. They have emerged as one of the best payment methods today, owing to the ease and convenience they bring in terms of transactions both online and offline. When you apply for Credit Card, you need never worry about being unable to afford that new smartphone you have been eyeing or being unable to buy your family those expensive gifts as the festival season approaches.
While the Indian market is saturated by the sheer number of credit cards offered by banks and non-banking financial entities, South Indian Bank’s credit cards have distinguished themselves. The South Indian Bank credit card features are unparalleled and its benefits go over and above anything else offered by other banking institutions.
Most credit card features and benefits enable customers to get reward points on usage of the credit card. The reward points thus earned can be used to avail discounts on a range of premium products and services. For instance, credit card reward points earned through can often be used to avail lounge access across airports, to avail discounts on film tickets or even flight tickets, and even avail waivers on the surcharge applicable while refilling your vehicle’s fuel.
SIB credit card benefits can differ even on the basis of the card you opt for. The same bank offers different credit cards, each of which cater to individual preferences. Regardless of the kind of benefits you are looking to avail, SIB credit card features have you covered through one or the other of their offerings.
South Indian Bank, in association with State Bank of India (SBI) credit cards, recently launched a co-branded credit card. These cards are now available to customers with two variants. While one is the South Indian Bank SimplySAVE SBI credit card, the other is the South Indian Bank SBI Platinum Card. Though both of these cards can prove to be extremely handy tools for the next time you are embarking on a shopping binge, it is important to assess the different features and benefits available with both and see which one seems most appealing to you.
While you already know that you are in for a treat with South Indian Bank credit card features, knowing what each of them offers the customer can help you quickly identify how best to use your new credit card.
Read on to learn the different South Indian credit card features and benefits available with the South Indian Bank SimplySAVE SBI card.
Annual Fee or Joining Fee: Every customer opting for the South Indian Bank SimplySAVE SBI card is required to pay a joining fee of Rs. 499. The same amount needs to be paid by the consumer for every consequent year of holding the car as an annual fee for using the card. While credit card joining or annual fees are usually higher, the fees associated with the South Indian Bank SimplySAVE SBI card has been kept minimal to ensure it remains affordable.
Maximum Credit Limit: The maximum credit card limit that you can avail through the South Indian Bank SimplySAVE SBI card can go up to Rs. 5 lakhs. While you might start off your journey with a credit card with a lower credit limit, it is always possible to increase the line of credit available to you by maintaining good credit repayment habits. Repaying your credit card bills on time and ensuring you don’t have multiple lines of credit are some of the ways to increase the maximum credit limit available to you.
Welcome Benefit: While most credit cards will offer their customers a one-time benefit for availing the car, none of them are quite as generous as the welcome benefit available with the South Indian Bank SimpleSAVE SBI card. The welcome benefit offers you 2,000 reward points if you spend Rs. 2,000 within 60 days of the card being activated.
Benefits with Reward Points: Reward points can be availed through using a credit card, which can then be used to reduce your expenditure elsewhere. From discounts on movie tickets to fine dining to flight tickets, reward points can offer a range of benefits to the cardholder. With the South Indian Bank SimplySAVE SBI card, you can earn 1 reward point with every Rs. 100 you spend. Additionally, this card offers cardholders the exclusive benefit of earning accelerated reward points and getting 10 reward points for every Rs. 100 spent towards dining, movies, and even grocery store expenses.
Other Benefits: Other South Indian Bank credit card benefits available with the SimplySAVE SBI card include 1% waiver on fuel surcharge across all petrol pumps and the opportunity to reverse your annual fees by spending more than Rs. 1 lakh through your card annually.
SIB credit card benefits, which seem appealing enough after you read about the South Indian Bank SimplySAVE SBI card, are enhanced further with the South Indian Bank-SBI Platinum Card. The SIB credit card features offered by this card enable cardholders to live a luxurious life and avail rewards simply by using their card.
Joining or Annual Fee: Owing to the plethora of benefits and rewards applicable once you start using the South Indian Bank - SBI Platinum Card, it is also significantly more expensive to avail. The joining fee on this premium credit card is Rs. 2,999 which later doubles as the annual fee for the cardholder.
Maximum Credit Limit: With the South Indian Bank - SBI Platinum Card, the maximum credit line available to you is up to Rs. 10 lakhs.
Welcome Benefit: Once you have completed the first transaction through this credit card, you get access to the welcome benefit with this card, which includes gift vouchers worth Rs. 3,000 from any SBI vendor partner.
Reward Points: The reward points available to you as part of the SIB credit card benefits are higher as well through the South Indian Bank - SBI Platinum Card. Through this card, you can avail 2 reward points each time you spend Rs. 100. Cardholders can earn accelerated reward points by using this card, wherein they earn 10 reward points each time they spend Rs. 100 as part of grocery, dining, movie or departmental store expenses.
Other Benefits: The other South Indian Bank credit card benefits and rewards available with the South Indian Bank - Platinum Card include 1% fuel surcharge waiver on any fuel-related transactions made across petrol pumps. Additionally, you can avail complimentary membership of the Priority Pass Programme, otherwise worth USD 99.
As you scroll through the South Indian Bank website or find out more about their credit cards, it might feel difficult to choose the most suitable option. However, it is important to remember that you need to pick a credit card that’s appropriate for your needs and suits your requirements.
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There are several benefits on offer with your South Indian Bank credit card, including reward points that enable you to avail enormous discounts on flight tickets, dining and other expenditure.
Your SIB credit card features are numerous and include a high credit limit and waiver of fuel surcharge across petrol pumps.