Benefits of Paytm SBI Credit Card In Hindi: Paytm has come up with two new credit cards in partnership with SBI. The payments company has launched Paytm SBI Card and Paytm SBI card Select on the Visa platform. Both the cards come with some smart features. This is Paytm’s second credit card; Earlier the company had launched one in partnership with Citibank.
Here are all the details regarding Paytm SBI Card eligibility, offers, joining fee, features and how to apply.
What is Paytm SBI Credit Card in Hindi
The Paytm SBI Credit Card is an entry-level low-fee card that is suitable for those who shop frequently through Paytm. You can get high cashback on movies, travel and Paytm Mall purchases along with flat 1% cashback on all other spends.
These credit cards are best suited for cashback on online spending. It is one of the two co-branded credit cards that Paytm has launched in partnership with SBI Card, the other being Paytm SBI Card Select. Read on to know the benefits of this credit card in detail.
The cards are focused on digitally savvy customers, who primarily shop online, especially in tier-2 and tier-3 cities. You can apply for the card through the Paytm app. The annual fee is Rs 1499 for Paytm SBI Card Select and Rs 499 for Paytm SBI Card. Are these cards worthwhile and should you apply for them?
Benefits of Paytm SBI Credit Card in Hindi
There are many individuals who apply for a credit card, only to enjoy the offers that are prevalent on it. Recently State Bank of India and Paytm have launched a credit card in collaboration with each other. The name of the card is Paytm SBI Credit Card which has a lot of offers and deals. You should find out the key features, offers and charges of this credit card.
This card has welcome benefits and you can earn cashback while shopping from Paytm Mall. The joining fee of this card is ₹ 499 plus tax. So, you must take a look at all the features and benefits of this credit card.
Features of Paytm SBI Credit Card
| Annual Fee | Rs 499 |
| most suitable | For cashback on travel tickets, movie bookings etc through Paytm |
| cashback rate | 3% Cashback on Paytm Mall, Movies & Travel |
| 2% cashback on all other spends through Paytm App | |
| 1% cashback on all other expenses | |
| Milestone Benefit | Complimentary Paytm First Membership Voucher on achieving an annual retail spend of Rs 1 lakh |
Benefits of Paytm SBI Credit Card
The unique features of Paytm SBI Credit Card are given below:
1. Welcome Benefit:
After making the first successful transaction using Paytm SBI Credit Card, you are entitled to a complimentary Paytm First Membership with benefits up to Rs.75,000. This membership is valid for 12 months from the date of activation. Once the complimentary membership period of 12 months is over, you will need to renew it by paying the applicable fee.
Enjoy benefits up to ₹75000 with a complimentary Paytm First Key Membership.
Paytm First Membership will be activated after the retail transaction.
Terms and conditions
This membership will be valid for a period of 12 months from the date of activation of the card.
2. Cashback Offer:
Up to 5% cashback on every transaction on all travel, movies and many more services. There is no limit on the number of times you can avail the cashback. here are the details:
| Details | cashback rate |
|---|---|
| Paytm Mall, Movies & Travel | 0.03 |
| All other purchases on Paytm App | 0.02 |
| Other expenses on offline and online stores | 0.01 |
1 point = Rs 1 cashback
Terms and conditions
- You will earn cashback on minimum transaction of ₹100.
- Cashback amount will be redeemed into Paytm gift voucher.
3. Milestone Offers:
On spending Rs 1 lakh in a year, you can get Paytm First Membership Voucher on renewal. For a low annual fee card, an expenditure of Rs 1 lakh seems quite reasonable. Also, SBI Cards has similar milestones on other cards in the same fee limit, such as SBI SimplySAVE and SBI SimplyCLICK
4. Fuel Surcharge Waiver:
- Avail 1% fuel surcharge waiver at refilling stations.
- Maximum surcharge waiver allowed is ₹100 per statement cycle.
Terms and conditions
- ₹500 is the minimum transaction for fuel surcharge waiver.
- ₹3000 is the maximum transaction for fuel surcharge waiver.
5. Cyber Fraud Insurance:
You are entitled to an insurance cover of Rs 1 lakh for financial loss due to fraudulent use of the credit card. This is a unique feature for a card in its fee range. You can avail these benefits as per the details given below:
- This insurance protects you from any misuse/misuse of the credit card
- does not involve gross negligence
- No claim shall be payable due to willful breach of law
- Only Chip and PIN based cards are covered under this policy
- Claims must be reported within 45 days from the date of fraudulent transaction
Read more – Bank of Baroda Credit Card Benefits
6. Convenient to use
- You can easily manage SBI Paytm Credit Card with the help of Paytm Application or SBI Card Application.
- You can use the spend analyzer, smart spend control and one tap lock/unlock and convenient card re-issue features on the Paytm app.
7. Universal acceptance
- This card is an international credit card and is accepted globally.
- It is accepted at 24 million outlets worldwide and 3.25 lakh outlets in India.
- You can use this credit card at any outlet that accepts Visa cards.
8. Add-on Card
- You can also take an add-on credit card for your family members
- You can take an add-on card for your parents, spouse, children and siblings who are above 18 years of age.
9. Pay Your Utility Bills
- Use Paytm SBI Credit Card to pay utility bills.
- You can pay telephone bills, electricity bills, mobile bills and other utility bills through this credit card.
10. Balance Transfer
- You can do balance transfer to other credit cards on SBI Credit Card.
- Enjoy low interest rate on EMIs to be paid post balance transfer.
11. EMI Conversion
- Convert transactions of ₹ 2500 and above into EMI.
- Enjoy competitive interest rate on EMI.
- You can convert the transaction to EMI within 30 days from the date of transaction.
12. Easy Money Facility
- You can enjoy easy money facility on this credit card.
- Receive a check or draft against your credit limit on this credit card at your doorstep.
Paytm SBI Credit Card Fees and Charges
Fees & Charges of Paytm SBI Credit Card in Hindi
Following are the fees and charges associated with Paytm SBI Card:
| Fees/Charges | Zodiac |
|---|---|
| joining fee | Rs 499 |
| renewal fee | Rs 499 |
| add-on fee | Zero |
| interest free loan tenure | 20 days to 50 days |
| finance charges | 3.50% p.a. [42% p.a.] |
| Minimum Fee Payable | 5% of the total outstanding amount |
| cash advance limit | Up to 80% of the credit limit with a maximum of ₹12000 per day. |
| Cash Withdrawal Charges for Domestic Withdrawals | 2.5% of the transaction amount with a minimum of ₹500. |
| Cash Withdrawal Fee for International Withdrawal | 2.5% of the transaction amount with a minimum of ₹500. |
| statement retrieval charge | ₹100 per statement |
| Check pickup fee | 100 |
| pay dishonor fee | 2% of the payment amount or minimum ₹450 |
| card replacement charges | 100 |
| foreign currency transactions | Conversion markup fee of 3.5% |
| cash payment fee | 199 |
| Railway ticket through IRCTC official website | 1.8% of the transaction + service charges |
Paytm SBI Card Late Payment Charges
Late Payment Charges of Paytm SBI Credit Card
| amount due | charges |
|---|---|
| up to Rs 500 | Zero |
| Rs.500 – Rs.1,000 | Rs 400 |
| Rs 1,001 – 10,000 | Rs 750 |
| 10,001 – Rs 25,000 | Rs 950 |
| 25,001 – Rs 50,000 | Rs 1,100 |
| Rs 50,001 and above | Rs 1,300 |
Who is eligible to apply for Paytm SBI Credit Card?
Paytm SBI Credit Card is provided to select Paytm customers only. However, to avail this card, you must fulfill the following eligibility criteria:
| Eligibility Criteria | description |
|---|---|
| minimum age | 21 years |
| Business | both salaried and self-employed |
| Customer Type | Paytm customers only |
| income requirement | No minimum income requirement |
Documents Required for Paytm SBI Credit Card
Documents Required for Paytm SBI Credit Card in Hindi
After submitting your application, you can book KYC verification appointment through Paytm App. The following listed documents need to be submitted:
- Proof of Identity (Copy): PAN Card, Driving License, Aadhar Card, Passport, Voter ID Card, Person of Indian Origin Card, Overseas Citizen of India Card, Job Card issued by NREGA, Letter issued by UIDAI
- Address Proof (Copy): Aadhar Card, Passport, Driving License, Utility Bill not older than 3 months, Property Registration Document, Person of Indian Origin Card, Job Card issued by NREGA, Bank Account Statement
- Other Documents: Passport size photograph
Note: Please note that in case of any discrepancy, additional documents may be required.
How to Apply for Paytm SBI Credit Card?
How to Apply for Paytm SBI Credit Card in Hindi
You can apply for the card online through the Paytm app. To apply through the app, follow these steps:
- Step 1- Log in to your Paytm App.
- Step 2- Select Show More and tap on Loans and Credit Card section or you can search Credit Card in Paytm search bar.
- Step 3- Click on Apply Now option and proceed with your application.
Frequently Asked Questions on Paytm SBI Credit Card
FAQ on Paytm SBI Credit Card in Hindi
Will the cashback be credited directly to my credit card account?
You get a percentage cashback in the form of reward points on a minimum transaction of Rs 100, each of which is instantly redeemed into the balance of Paytm gift vouchers. This Paytm Gift Voucher balance is added to your Paytm Wallet, which is linked to the mobile number registered on the card. You can use Paytm Gift Voucher balance to make purchases through Paytm App.
What is the credit limit offered by Paytm SBI Card?
The credit limit for Paytm SBI Card is defined by SBI Card based on its internal policies. The prescribed limit can be from Rs 10,000 to Rs 10 lakh.
How can I apply for Paytm SBI Credit Card?
Due to the high demand, Paytm is currently offering the Paytm SBI Card to select Paytm users, if you are eligible, you can apply for this credit card through the credit card section on the Paytm app.
When will I receive my Paytm SBI Credit Card?
The card will be delivered within 7 business days after final approval from SBI Card.
How can I re-apply for Paytm SBI Credit Card?
You can re-apply for Paytm SBI Credit Card on Paytm App after application rejection after 6 months.
What is the minimum age requirement to apply for Paytm SBI Credit Card?
The minimum age limit to apply for this credit card is Rs 21 years
Is there a minimum income requirement to apply for Paytm SBI Card?
There is no minimum income requirement. Both salaried and self-employed individuals can apply for these cards. However, due to the high traffic, applications are restricted to a limited number of users.