Karur Vysya Bank SBI Signature Credit Card

Founded in 1916, the Karur Vysya Bank is a private sector banking institution with headquarters in Karur, Tamil Nadu. Having more than 600 branches, the bank is reputed for its numerous digital and technological initiatives. The retail banking portfolio of the bank offers a wide array of services and products such as fixed deposits, credit cards, loans, etc.

Advantages of the Karur Vysya Bank SBI Signature Credit Card:

Welcome Offering:Cardholders receive e-gift vouchers worth 5000 INR from Westside, Shoppers Stop, Yatra, Hush Puppies, Bata, or Marks & Spencer. The voucher gets sent to the registered mobile phone of the cardholder within 2 weeks of acknowledgment of request.

Signature Gifts:

Cardholders enjoy benefits of earning 5x reward points on international, dining, grocery, and departmental store expenses. For every expense of Rs 100 using the card, a cardholder receives 2 reward points.

Free Tickets to Movies:

Cardholders need to swipe the card at least once a month in order to avail a discount of Rs 500 on BookMyShow bookings. The transaction will be applicable for at least 2 tickets in each booking. The highest offer that can be availed is Rs 250 each ticket for 2 tickets only. Moreover, convenience fees are applicable.

Bonus Points:

Cardholders can get 10,000 reward points as bonus if they spend Rs 2 lakh, Rs 3 lakh, or Rs 4 lakh yearly. If the expense is more than Rs 5 lakh, they earn 20,000 reward points as bonus.

Lounge Access:

Through the card, a cardholder can enjoy a free membership to the Elite Priority Pass program that usually costs $99. Moreover, lounge access can also be enjoyed to all VISA lounges throughout the world, via the VISA Airport Lounge Access program.

Concierge Facilities:

Cardholders enjoy exclusive concierge facilities that help in hotel stays, movie nights, travel, reservations, and gift deliveries. A cardholder can also enjoy special discounts and offers at leading lifestyle spas and stores.

Features:

Golf Course Access:

Cardholders enjoy access to more than 300 golf courses across the globe, besides getting a 30% discount on green fee.

Access to Cash:

Cardholders can withdraw cash from over 1 million VISA ATMs across the world.

Fuel Surcharge Waiver:

Cardholders can enjoy a waiver on the 2.5% fuel surcharge, provided they spend Rs 500 to Rs 4000 on their card for buying fuel. The highest surcharge waiver than can be enjoyed on the card is Rs 250 every cycle.

Online Card Management:

Cardholders can use the facility of managing the Signature Credit Card virtually. Change of address, checking monthly statements, subscription to SMS alerts, and availing all other benefits is possibly by visiting the SBI website.

Flexipay: Flexipay can be used to convert all expensive and extravagant transactions to convenient and easy monthly instalments. Cardholders can choose a plan that suits their convenience.

Payment of Utility Bills:

Cardholders can pay all utility bills by availing the Easy Bill Pay option on the card. The Auto Bill Pay facility allows cardholders to give out instructions that would ensure that all payments are done before due dates.

Easy Money:

This facility allows cardholders to avail money whenever the need arises. A draft or cheque can be procured against their cash limit and received at their doorstep.

EMI and Balance Transfer:

Cardholders can transfer the outstanding balance on their credit cards from other banks to their Karur Vyasya SBI Signature Credit card and avail a lower rate of interest, besides enjoying the option of paying back in easy EMIs. A cardholder needs to log in to the SBI card website in order to enjoy this option.

Online Train Tickets:

This card can be used to make online bookings of rail tickets by logging in to the IRCTC official site.

Global Acceptance:

The card can be used in more than 2 million VISA outlets across the globe, besides over 2 lakh outlets in India.

Emergency Replacement:

In case the card is lost or misplaced, it can be replaced at any corner of the world by contacting the emergency helpline numbers.

Supplementary Cards:

A cardholder can share the benefits of this card with their family members by procuring add-on cards for spouse, parents, children, or siblings, provided the add-on cardholder is above 18 years of age.

Eligibility:

The eligibility to use the Karur Vyasya Bank SBI Signature card is decided on the basis of the applicant’s income and profession, among few other factors.

Documents Needed:
  • PAN Card
  • ID proof (any one of the following):
  • Passport
  • Voter’s ID
  • UID Aadhar Number
  • Driving License
Charges and Fees:
  • Annual One-Time Fee is Rs 4999.
  • Yearly Renewal Fee is Rs 4999.
  • There is no annual add-on fee.
  • There is no free credit period for cash advance.
  • The interest-free period for extended credit is 20 days to 50 days. It is applicable on retail expenses, provided the due from the preceding month has been fully paid off.
  • Finance Charge for extended credit is up to 3.35% each month or 40.2% per year, from the transaction date.
  • Minimum amount due for extended credit is 5% of total outstanding or Rs 200, whichever is lower, including government service taxes and EMI in case of loans.
  • The cash advance limit is a maximum of 80% of credit limit or Rs 15000 each day.
  • The cheque pickup charge is Rs 90.
  • The rewards redemption fee is up to Rs 99.
  • Card Upgrade fee is up to Rs 500.
  • Card replacement charge is Rs 100.
  • Statement retrieval fee is Rs 100 per statement, if statement is more than 2 months old.
  • Charge-slip request fee is Rs 225 per charge-slip.
  • Finance Charge for cash advance is a maximum of 3.35% each month or 40.2% per year, from the day of transaction.
  • Cash Advance fee for SBI ATMs and all domestic ATMs is 2.5% of withdrawn amount or Rs 300, per transaction.
  • Withdrawal from international ATMs cost 3% of withdrawn amount or Rs 300, per transaction.
  • Over-limit charge is 2.5% of over-limit volume or Rs 500, whichever is lower.
  • Surcharge for buying train tickets from railway counters is Rs 30 + 2.5% of transaction amount.
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