SBI SimplySave is a simple reward-oriented credit card. It offers best value on our day-to-day expenses like grocery, movie, dining, and departmental store spends.
It comes with a nominal fee of Rs 499 + GST. So, it’s also affordable at other end.
But is it really good compared to other entry-level cards?
Let’s find out in this detailed SBI SimplySave Credit Card Review.
OVERVIEW
| Feature | Details |
|---|---|
| Type | Reward Credit Card |
| Best For | Everyday Spending |
| Reward Rate | ~0.2% to ~1.7% |
| Joining Fee | Rs 499 + GST |
| Annual Fee | Rs 499 + GST |
| Annual Fee Waiver | On Annual Spend of Rs 1 Lakh |
| Welcome Benefit | 2000 Bonus Reward Points (worth Rs 500) |
SBI SimplySave Credit Card Review: Overview
SBI SimplySave Credit Card offer simple and routine benefits to the cardholders. It is suitable to someone looking for an entry-level card.
The reward rate varies between ~0.2% to ~1.7%, which is very low if you compare with other entry-level card like HDFC Uno.
Banks do not show you the real return after redemption of reward points. When you visit the official page, you can easily find the tagline “10X Reward Points on …” at the top. They want to catch your attention even if the real return is below 2%.
So, you need to calculate and analyze the ROI before any decision.
REWARD POINTS & REDEMPTION
| Spend Type | # Points / ₹150 | Cashback (%) | Monthly Cap |
|---|---|---|---|
| Dining, Movies, Groceries & Departmental Store Spends | 10 Points | ~1.7% | Up to 5000 Reward Points |
| Other Purchases | 1 Point | ~0.2% | —- |
SBI SimplySave Credit Card Review: Rewards Points
- Each Reward Point = Rs 0.25
- Monthly Capping : 5000 Points (10X categories)
- Redemption Fee: Rs 99 + GST
When you go beyond the 5000 capping points in a month, you get base rate of 1 Point on each Rs 150 spent.
#Redemption Options
There are two options to redeem your points. One is against the statement balance (best option) , and the other is on the Reward Catalogue.
SBI SIMPLYSAVE CREDIT CARD REVIEW: ANNUAL FEE WAIVER
The annual fee of Rs 499+GST (~ Rs 590) is waived on spend of Rs 1,00,000 or more in the previous year.
It’s not a big deal for so many cardmembers.
But even if I consider the 10X categories that can give 1.7% back, we only receive Rs 1700.
So, is it a fair deal? What’s your opinion?
SBI SIMPLYSAVE CREDIT CARD REVIEW: WELCOME BENEFIT
Cardmembers are entitled to a joining bonus of 2000 points worth Rs 500.
You need to spend minimum Rs 2000 within 60 days of card issuance to avail this benefit.
Once eligible, these bonus points are credited to your account within 60 days.
SBI SIMPLISAVE CREDIT CARD REVIEW: FUEL SURCHARGE WAIVER
- 1% fuel surcharge waiver on spend amount between Rs 500 to Rs 3000 at any petrol pump in India.
- Maximum benefit of Rs 100 in a month.
CONS: WHAT I DID NOT LIKE?
- No lounge access: You do not get any travel benefits like lounge visits, or discount on hotel or flight bookings.
- Marginal cashback on most regular purchases: Other than the 10X categories, you get only 0.2% cashback.
- No Milestone Benefit: Apart from the annual fee waiver, there are no milestone bonuses for high spenders. Welcome benefit is given only for the 1st year. From 2nd year, there is no any special milestone benefit so that it can be renewed.
- Fuel benefit is limited – The 1% fuel surcharge waiver is capped at Rs100 per month, which feels too low.
WHO SHOULD APPLY?
You can consider applying for the SBI SimplySave Credit Card if:
- You are new to credit card and want to kickstart your journey with SBI.
- You are looking for an entry-level card without complicated benefits.
- You do not care much about lounge benefits.
- You spend mostly on groceries, movies, and dining.
- You do not want to pay a higher annual or joining fee.
SBI SIMPLYSAVE CREDIT CARD REVIEW: BOTTOMLINE
SBI SimplySave is an on-average credit card. It is a good option if you spend mostly on day-to-day needs such as groceries or dining.
There is a welcome benefit to cover the joining fee. You also get the option to waive annual fee for minimum spend of Rs 1 lakhs.
However, you do not get premium perks like the lounge access. There is no milestone bonus from 2nd year other than the waiver of annual membership fee.
So, you can consider SBI SimplySave only if you are entering into credit card and want to join SBI.
Otherwise, there are other options available with better reward rate or travel benefits.
This was the end of SBI SimplySave Credit Card Review.
I hope you’ve loved this post.
Happy Savings !!