Paytm SBI Credit Card -10 Steps To Financial Odyssey
Introduction
Paytm SBI Credit Card is a co-branded card launched in co-partnership with Paytm by SBI cards. My Blog post on Paytm SBI Credit Card -10 Steps to Financial Odyssey delves into the features, benefits, and other aspects of this revolutionary entry-level Credit Card that brings forth a product that seamlessly blends the convenience of Paytm’s digital transactions with the robust financial backing of State Bank of India.
Table of Contents
Paytm SBI Credit Card Features
Paytm SBI Credit Card comes with great features and great rewards that never expire.
- Cashback and Membership Rewards: Paytm SBI Credit Card offers unlimited Cashback ranging from 1% to 5%. This Cashback is added to your Paytm Gift voucher balance and is redeemable on the Paytm App and millions of online and offline stores. It also offers free Paytm First Membership with exclusive privileges up to Rs 75,000 on card activation.
- Worldwide Acceptance & Add-on Cards: This Credit Card is an international card acceptable at over 24 million outlets worldwide including 3,25,000 outlets in India. It also offers Add-on cards to your parents, spouse, children, and siblings who are 18 years and above.
- Utility Bill Payments: This Credit Card offers payment of utility bills like, electricity, telephone, mobile, etc using the “Easy Bill Payment Facility
- Complimentary Airport Lounge Access: This Card offers 4 Domestic airport lounge visits every year(max 1 per quarter)
- Flexipay and Balance Transfer on EMI: This Credit Card offers ” Flexipay” option whereby you can convert transactions into equated monthly installments. You can log onto sbicard.com with your user ID and password to benefit from this service. It also offers a “Balance transfers on EMI facility” whereby you can transfer the outstanding balance of other banks’ credit cards and pay in EMIs.
Note : For more details log on to https://paytm.com/loans-credit-cards/credit-cards/sbi/ or https://www.sbicard.com/en/personal/credit-cards/travel/paytm-sbi-card.page
Paytm SBI Credit Card Benefits
Paytm SBI Credit Card is your basic entry-level credit card that comes with a host of Cashback and Complimentary Coverage and Membership benefits.
Paytm SBI Credit Card Apply
- You can apply for the Paytm SBI Credit Card online through the Paytm App by following the steps as illustrated :
- Open the Paytm app: Make sure you have the latest version of the app installed.
- Access the ‘Loans and Credit Card’ section: You’ll see two variants: “Paytm SBI Card” and “Paytm SBI Card SELECT”. Choose the one that suits your needs and budget.
- Click “Apply Now”: This will initiate the application process.
- Fill in your details: The application form will ask for basic information like your name, PAN number, date of birth, income details, and employment status. Always ensure you provide accurate and complete information.
- Review and submit: Carefully review your application before submitting it. Once submitted, you can track the status of your application within the Paytm app itself.
Paytm SBI Credit Card Eligibility
To be eligible for a Paytm SBI Credit Card, you have to meet certain criteria set by both Paytm and SBI. Here’s a breakdown of the key requirements:
| Eligibility Criteria | Description |
|---|---|
| Minimum Age | 18 years old and a resident of India |
| Income | Minimum Annual Income : Rs. 3 lakh to Rs. 6 lakh Per Annum |
| Employment | Salaried individuals are preferred, self-employed professionals and businessmen may also be eligible |
| Credit Score | A good credit score (ideally above 750) significantly increases your chances of approval |
| Existing Relationship | Having an existing account with Paytm or SBI can be an advantage |
| Transaction History | Responsible financial history on Paytm platform |
Paytm SBI Credit Card Documents
The documents required for a Paytm SBI Credit Card application can be broadly categorized into three groups as illustrated below :
| Documents Required | Description |
|---|---|
| Identity Proof | Aadhaar Card/Pan Card/Passport/Voter's ID Card/Driving license |
| Address Proof | Aadhaar Card/Pan Card/Passport/Voter's ID Card/Driving license/Ration Card |
| Additional Address Proof | Rent Agreement/Property Documents/Utility Bills/Salary Slips /Bank Statements/Income Tax Returns |
Paytm SBI Credit Card Limit
There isn’t a single, fixed credit limit for Paytm SBI credit cards. Instead, the credit limit is determined on a case-by-case basis and depends on several factors, including:
- Your income and credit score: Individuals with higher income and better credit scores tend to be eligible for higher credit limits.
- The specific Paytm SBI card you choose: Paytm SBI Card can have a limit of Rs. 5,000 to Rs. 50,000.
- Relationship with SBI: Existing SBI customers may be offered higher credit limits compared to new customers.
However, here are some general guidelines:
- Minimum credit limit: Most Paytm SBI cards have a minimum credit limit of Rs. 5,000.
- Maximum credit limit: The maximum credit limit for Paytm SBI cards can vary, but it typically ranges up to Rs 50,000.
You can find out your specific credit limit by following ways:
- Check your credit card welcome letter: Your credit limit will be mentioned in the welcome letter you receive after your card is approved.
- Check your online banking account: You can usually see your credit limit by logging into your online banking account and navigating to your credit card details.
Note:
Your credit limit is not static. It can increase over time based on your creditworthiness and usage history. You can also request a credit limit increase by contacting SBI customer care.
Paytm SBI Credit Card Charges
| Fees And Charges | Amount |
|---|---|
| Joining Fee | Rs 499 |
| Renewal Fee(per annum) | Rs 499 |
| Add-On-Card Fee | Nil |
| Finance Charges | Up to 3.5% per annum (42% per annum) |
| Cash Advance Fee | 2.5% of the amount withdrawn or Rs.500 (Domestic ATMs) 2.5% of the amount withdrawn or Rs.500 (International ATMs) |
| Payment Dishonor Fee | 2% of the payment amount; minimum of Rs.450 |
| Cash Payment Fee | Rs 250 |
| Cheque Payment Fee | Rs 100 |
| Over Limit Fee | 2.5% of the over limit amount; minimum of Rs.600 |
| Rewards Redemption Fee | Rs.99 |
| Foreign Currency Transaction | 3.50% |
| Late Payment Fee | From Rs.0 to Rs.500 - Nil // More than Rs.500 up to Rs.1,000 - Rs.400 // More than Rs.1,000 up to Rs.10,000 - Rs.750 // More than Rs.10,000 up to Rs.25,000 - Rs.950 // More than Rs.25,000 up to Rs.50,000 - Rs.1,100 // More than Rs.50,000 - Rs.1,300 |
Paytm SBI Credit Card Customer Care Number
You can reach Paytm SBI Credit Card customer care through multiple ways depending on your preference:
Toll-free numbers (India):
- 1860 180 1290: This is the dedicated toll-free number for Paytm SBI Credit Card customers.
- 1800 1234: This is the general SBI Credit Card customer care number. While it is not specific to Paytm SBI cards, it can still be used for inquiries related to your card.
Other options:
- SBI Card mobile app: You can log in to the SBI Card mobile app and access customer care support through the app’s chat feature.
- Paytm app: You can access Paytm customer care through the Paytm app’s chat feature.
- Website: You can visit the SBI Card website (https://www.sbicard.com/) and access customer care support through the live chat feature.
Additional details:
- Operating hours: All channels mentioned above are operational 24/7.
- Charges: Toll-free numbers are free to call from landlines and mobile phones within India. Standard call charges apply for non-toll-free numbers.
- Language support: Customer care representatives are available in English and Hindi.
Conclusion
In Conclusion, Paytm SBI credit card promises to redefine the way we transact, earn rewards, and manage our financial lives. It has emerged as a gateway to a seamless and rewarding financial experience.
With its fusion of Paytm’s digital prowess and SBI’s trusted banking legacy, this credit card caters to the modern consumer’s ever-evolving needs for swift, secure transactions to exclusive cashback and rewards tailored for the digital age.
Welcome to a new era of credit – where the Paytm SBI credit card isn’t just in your wallet; it’s in your hands, shaping your financial narrative with every transaction.
FAQ
Is Paytm SBI a good Credit Card ?
Paytm SBI Credit Card is a basic entry level credit card that offers decent cashback and rewards with a low credit limit. It is particularly suitable for first- time users.
What is the annual fee charged on Paytm SBI Credit card ?
Paytm SBI Credit Card charges an annual fee of Rs 499 + GST on renewal. It also charges a joining fee of Rs 499 + GST
What is the interest rate charged on Paytm SBI Credit Card ?
Paytm SBI Credit Card charges an interest rate of 3.50% per month or 42% per annum.
How much cashback can I earn on Paytm SBI Credit Card?
The amount of cashback you can earn on the card depends on the specific offer and the card issuer. It generally ranges from 1% to 5% on a minimum transaction value of Rs 100
Do I get a protection liability coverage on Paytm SBI Credit card ?
Paytm SBI Card covers up to Rs. 1,00,000 of financial loss incurred due to fraudulent usage of your Credit Card. This protects the cardholder against the misuse of his/her Credit Card
What is Paytm First Membership ?
Paytm First Membership is a premium subscription-based rewards and loyalty program for Paytm users. It offers exclusive benefits, over and above the regular offers such as free movie tickets, free flight tickets, free food and beverages, free shipping, cashback offers, and more. It is complimentary for holders of Paytm SBI Credit Card.