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SBI Unnati Credit Card is one of the best available Secured Credit Cards in India! If you are a student, housewife or small business owner and finding it hard to get a credit card then you can surely consider getting an Unnati Credit Card by State Bank of India (SBI).
How to Get SBI Unnati Credit Card?
To get an SBI Unnati Credit Card you should have a minimum Fixed Deposit of Rs. 25,000.
You would be granted 80% of Credit Limit against the amount of your FD.
For Example:- If you have a Fixed Deposit of Rs. 30,000 then you will be granted a Credit Limit of Rs. 24,000.
If you are worried about the low credit limit then don’t be. It will keep on rising on the basis of your transactions and history. The bank will analyze how often you make a purchase (spending) through your Unnati Credit Card and your payback regularity. Taking into consideration these 2 factors and few more, SBI will increase your credit limit.
Steps to apply for the credit card are provided below after some more information.
Few tips to maintain good Credit Score:-
- Try to utilize your credit limit smartly and pay back the sum in time.
- No need to rush in paying the amount back, but it must be paid within the agreed deadline.
- Getting a new Credit Card may not have any impact on the Credit/ Cibil Score. But, it will negatively impact your Credit Score when you ask your financial institution to block or cancel a credit card.
Remember these points before you apply for your next credit card.
Before you fill in the application to get this card, let’s talk a bit about what it will bring for you!
For your ease of understanding, I have mentioned the benefits of Unnati Credit Card in the numbered-fashion below:-
- International Transactions:- You can use Unnati card for international transactions.
We have seen that debit cards issued by government banks like SBI, PNB, etc. can’t be used for international transactions. However, debit cards issued by private banks like ICICI, Standard Chartered, HDFC, etc. can be used. But, opening an account in a private bank is quite a cumbersome task in itself and maintaining the minimum balance is also not very easy for everyone.
So, Unnati comes to the rescue here!
- Zero Fee Card:- Yes, you read it right! Basically, a user had to pay Rs. 499 as the annual fee, but SBI has waived it off completely. Now, the Unnati card is free for 4 years for its users!
SBI will start charging you the annual fee from the 5th year.
- Rewards on Spends:- The Unnati users will get 1 reward point per Rs. 100 spent. The customers will be able to redeem these earned points to purchase existing products in the Rewards Catalogue.
- Freedom from Fuel Surcharge:- The customers are entitled to get 1% fuel surcharge waiver on all the petrol pumps across the nation.
*Condition – Maximum Rs. 100 waiver/ month for transactions between Rs. 500 and 3000 (exclusive of all applicable taxes).
- Cashback:- If you will spend Rs. 50,000 or more annually then you will receive a cashback of Rs. 500.
- Balance Transfer on EMI:- You can transfer the outstanding balance of credit cards issued from other banks. By doing this, you will be able to avail a lower rate of interest and pay the amount in EMIs.
- Flexipay:- When you make a purchase of Rs. 2,500 or more using your SBI Unnati Credit Card, you will have the option to pay the amount in EMIs.
For this, you will have to log in to your SBI Credit Card account and choose the option of Flexipay within 30 days of purchase.
- Easy Money:- Unnati card gives users the freedom to get a draft or cheque against their cash limit. They then can get it delivered at their doorstep.
- Only Requires FD to be issued:- Yes, one of its benefits is that anyone can get it easily against their Fixed Deposits of Rs. 25,000 or more. Getting this card is really very easy when compared to the Non-Secured Credit Cards.
Other Features/ Benefits:-
- Worldwide acceptance
- Contactless advantage
- No fee on Add-on Unnati Cards
- Cash on the Go
- Utility bill payment facility
Fees & Charges
- Extended Credit:- SBI offers 20 to 50 days of interest-free credit period. It is applicable only to retail purchases. Also, it’s mandatory that you have no outstanding amount of the previous month to enjoy this feature.
- Cash Advance Limit:- It offers up to 80% of the credit limit with a maximum of Rs. 12,000/ day. You will be charged up to 2.50% per month on cash withdrawal, accounting for 30% per annum (from the date of withdrawal).
- Cash Advance Fee:- SBI ATMs – 2.5% of transaction amount (minimum of Rs. 300).
On international ATMs – 3% of transaction amount (minimum of Rs. 300.)
- Cash Payment Fee:- Rs. 100.
- Late Payment Fee:-
Amount (in INR) Late Fee (in INR) 0 to 200 No late fee >200 & up to 500 100 >500 & up to 1,000 400 >1,000 & up to 10,000 600 >10,000 & up to 25,000 800 >25,000 950
- Overlimit:- The Unnati customers can get up to 2.5% of the overlimit amount (minimum of Rs. 500).
- Rewards Redemption Fee:- You will be charged Rs. 99 to redeem your rewards points.
- Card Replacement:- State Bank of India charges Rs. 100 for the replacement of the card.
- Emergency Card Replacement (when abroad):- Actual Cost with a minimum of $175.
- Foreign Currency Transaction:- Conversion mark up: 3.5%.
- Cheque Fee:- Rs. 100 (payments made up to Rs. 10,000)
- Payment Dishonor Fee:- 2% of the payment amount (minimum of Rs. 450).
- Statement Retrieval:- Rs. 100 per statement (for 2 or more months old).
I have tried to include as many fees and charges as possible. You can check them all from the SBI page. The link to the page has been provided below in the important links section.
How to Apply for SBI Unnati Credit Card Online?
Time needed: 2 hours.
Here’s the complete procedure to apply for Unnati Credit Card:-
- Read all that is necessary!
Before you jump directly to fill the application, be sure that you have read all the terms & guidelines. It is critically important if you don’t want to feel frustrated afterward. It is possible that this is not the ideal credit card for your requirements.
Links to some important documents are provided below.
- Call the SBI Credit Card Helpline to learn even more!
Yes, customer care helplines are a plus point for the customers. You should definitely take advantage of this feature and cross-check all your knowledge with the customer care executive.
SBI Credit Card Customer Care Helpline:- 1800 180 1290
(Beware of the fraudsters)
- Fill in the application form
Visit this direct link to the official web page provided by the State Bank of India and fill up the application form.
Note: Be sure that you select “SBI Card Unnati” in the last option of “Card Type”. Otherwise, your application might get rejected.
- Get ready for Telephonic Verification
After the successful submission of your application form, you will get a call within 1-2 days from the SBI Credit Card department.
They will ask you a few basic questions. No need to worry about it.
After the questioning part is done, they will tell you that they will send their agent at your address.
- Get ready for Address, FD and Documents Verification
The agent will ask you to show your Fixed Deposit along with other important documents like Aadhaar Card, Academic certificates, Address proof, etc.
- Wait for the Courier/ postman to show up at your doorstep with your brand new Unnati Credit Card!
Yep, the last step is to wait for your credit card to be delivered at your doorstep!
Typically, it takes about a month, but you can also expect it to be delivered sooner if you live in a metro city.
Frequently Asked Questions (FAQs)
These are different from the Non-Secured Credit Cards. The Secured Credit Card doesn’t exercise the hassle of having an excellent Cibil Score of >700, ITRs, loan history, etc.
Instead, Secured Credit Cards are issued by banks and other financial institutions against the Fixed Deposit (FD) of the customers.
1. You must be 18 years old or more.
2. You must have a Fixed Deposit of Rs. 25,000 or more.
3. You must have original documents ready for verification purposes like Aadhaar Card, Academic certificates, etc.
Yes! All you need is a Fixed Deposit of Rs. 25,000 or more and be at least 18 years old at the time of filling the application!
So, if you are an unemployed person then you can also apply for this credit card.
Well, this will take some time. The bank is going to analyze the way you use your credit card. There are multiple parameters on which bank evaluates the performance or behavior of a customer or his/her’s credit card.
Few parameters are as mentioned below:-
1. How often do you use your credit card?
2. How often do you exhaust your maximum credit limit?
3. Your regularity in paying back the loan amount.
4. Penalty history.
5. Loan history.
6. The current number of loans.
7. Getting a new credit card may not help you in increasing your credit score, but canceling a credit card can seriously hurt your credit score!
These are just a few parameters that you can take into consideration to enhance your credit score.
- Apply online
- Unnati Card page with Features and Fees & Charges
- SBI Credit Card help page with contact details
- Track your SBI Credit Card application status
- Simply SMS
- Credit card bill payment page with multiple options
This is not a Unnati credit card review! But, I hope this page serves its purpose of guiding you through the process of application. Feel free to share your story of getting your credit card with us and our visitors via the comment box below.
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