Paytm SBI Credit Card
Credit cards confer loads of benefits. But when two market giants join hands, the benefits are bound to multiply manifold. The same is the case with SBI Paytm credit cards. Read through to learn the many features and benefits that the Paytm SBI credit card offers and the Paytm SBI credit card application process.
Paytm SBI Credit Card Introduction
SBI and Paytm are major players in their respective fields. While SBI is reckoned for its safe and secure banking products and assistance, Paytm opens up the world of digital transactions. The partnership venture between the two offers rolls out the feature-laden SBI Paytm credit card.
To meet the unique requirements of its vast customer base, the credit card has two variants - SBI Paytm credit card and SBI Paytm SELECT credit card.
Key Highlights of SBI Paytm Credit Card
The key highlights of the SBI Paytm credit card are as under:
- Welcome offer
- Cashback benefits
- Cyber fraud insurance
- Milestone benefits
- Fuel surcharge waivers
- Smart spend control with spend analyzer
- One tap lock/unlock
Features and Benefits of SBI Paytm Credit Card
With the SBI Paytm Credit Card the cardholder is entitled to the following benefits:
Welcome Offer
- Benefits up to Rs. 75,000
- Complimentary Paytm First Membership
Cashback Offers
- 3% cashback on transactions at Paytm Mall, movies, and travel
- 2% cashback on all purchases done on Paytm App
- 1% cashback on all transactions at offline and online stores
Every transaction of Rs. 100 and above helps you earn cashback in the form of reward points. The Reward Points can be redeemed as a Paytm Gift Voucher balance which is added to the cardholder’s Paytm Wallet. Cardholders can use this Gift Voucher balance for subsequent purchases made through the Paytm App.
Fuel surcharge waivers
- 1% Fuel Surcharge waiver is earned for every transaction between Rs.500 and Rs.3,000, subject to a maximum surcharge waiver of Rs. 100 per statement cycle
Cyber fraud insurance
- In the event of fraudulent usage of credit cards, Paytm SBI credit cardholders are insured up to Rs. 1,00,000 of financial loss.
Milestone benefit
- Free Paytm First Membership Voucher on renewal upon reaching an annual milestone retails spends of Rs. 1 lakh
Worldwide acceptance
- Partnered with Visa, SBI Paytm credit card can be used at over 24 million outlets worldwide, including 3,25,000 partner outlets in India.
Add-On Card
- Apply for a free SBI Paytm credit card add-on for parents, spouse, children, or siblings above 18 years of age.
Utility Bill Payment
- Pay off monthly utility bills with the Easy Bill Pay facility.
Balance Transfer on EMI
- Transfer the balance outstanding on other bank credit cards to Paytm SBI credit card and enjoy a lower interest rate with payback in the EMI option.
Flexipay
- Convert transactions above Rs. 2500 into easy EMIs.
Easy Money Facility
- Get a cheque or draft against your available credit card limit delivered to your doorstep.
Key Highlights of SBI Paytm SELECT Credit Card
The key highlights of the SBI Paytm SELECT credit card are as under
- Welcome offer
- Cashback benefits
- Cyber fraud insurance
- Milestone benefits
- International Lounge Benefits
- Domestic Lounge Program
- Fuel surcharge waivers
- Smart spend control with spend analyzer
- One tap lock/unlock
Features and Benefits of SBI Paytm SELECT Credit Card
With the SBI Paytm SELECT credit card, the cardholder is entitled to the following benefits:
Welcome Offer
- Benefits up to Rs. 75,000
- Complimentary Paytm First Membership
- Rs. 750 cashback in Paytm Wallet
Cashback Offers
- 5% cashback on transactions
- at Paytm Mall, movies, and travel
- 2% cashback on all purchases done on Paytm App
- 1% cashback on all transactions at offline and online stores
Every transaction of Rs. 100 and above helps you earn cashback in the form of reward points. The Reward Points can be redeemed as a Paytm Gift Voucher balance which is added to the cardholder’s Paytm Wallet.
Cardholders can use this Gift Voucher balance for subsequent purchases made through the Paytm App.
Cyber fraud insurance
- In the event of fraudulent usage of the credit card, Paytm SBI credit cardholders are insured up to Rs. 2,00,000 of financial loss.
Milestone benefit
- Get a voucher worth Rs. 2000 upon reaching annual retail spending of Rs. 4 lakh.
- Get a voucher worth Rs. 4000 upon reaching annual retail spending of Rs. 6 lakh.
International Lounge Program
- Get a complimentary Priority Pass worth USD 99 for the first two years.
Domestic Lounge Program
- Enjoy up to 4 complimentary domestic lounge visits.
Fuel surcharge waivers
- 1% Fuel Surcharge waiver is earned for every transaction between Rs.500 and Rs.4,000, subject to a maximum surcharge waiver of Rs. 250 per statement cycle
Charges of SBI Paytm Credit Card
The fees and charges applicable on an SBI Paytm Credit Card are as follows:
| Charge Category | SBI Paytm Credit Card | SBI Paytm SELECT Credit Card | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 499 | Rs. 1499 | ||||||||||||||||||||||||||||
| Renewal Fee | Rs. 499 | Rs. 1499 | ||||||||||||||||||||||||||||
| Add-on card fee | NIL | NIL | ||||||||||||||||||||||||||||
| Cash Advance Fee | 2.5% of the amount withdrawn or Rs. 500 whichever is higher. | 2.5% of the amount withdrawn or Rs. 500 whichever is higher. | ||||||||||||||||||||||||||||
| Cash Payment Fee (In case credit card dues are paid through cash at bank counter) | Rs. 250 + applicable GST | Rs. 250 + applicable GST | ||||||||||||||||||||||||||||
| Finance Charges | 3.50% per month (42% per annum) | 3.50% per month (42% per annum) | ||||||||||||||||||||||||||||
| Late Payment Charge if Minimum Amount Due is not paid |
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| Additional Late Payment Charge (In case Minimum Amount Due is not paid for two consecutive payment cycles) | Rs. 100 for every payment cycle till the Minimum Amount Due is cleared. | Rs. 100 for every payment cycle till the Minimum Amount Due is cleared. | ||||||||||||||||||||||||||||
| Over Limit Fee | 2.5% of the over-limit amount or Rs. 600, whichever is higher | 2.5% of the over-limit amount or Rs. 600, whichever is higher | ||||||||||||||||||||||||||||
| Payment Dishonor Fee | 2% of payment amount subject to a minimum of Rs. 500 | 2% of payment amount subject to a minimum of Rs. 500 | ||||||||||||||||||||||||||||
| Reward Redemption Fee | Rs. 99 | Rs. 99 | ||||||||||||||||||||||||||||
| Card Replacement Fee | Between Rs.100 to Rs.250 | Between Rs.100 to Rs.250 | ||||||||||||||||||||||||||||
| Cheque Payment Fee | Rs. 100 | Rs. 100 | ||||||||||||||||||||||||||||
| Statement Retrieval Fee | Rs. 100 per statement for more than 2 months old statement retrieval | Rs. 100 per statement for more than 2 months old statement retrieval | ||||||||||||||||||||||||||||
| Overdue Finance Charge | 3.65% per month (43.8% per annum) if the Minimum Amount Due is not paid twice in a year. | 3.65% per month (43.8% per annum) if the Minimum Amount Due is not paid twice in a year. |
Eligibility Criteria to Apply for SBI Paytm Credit Card
The eligibility criteria to apply for both categories of SBI Paytm Credit Card are as under:
| Eligibility Criteria | Details |
|---|---|
| Minimum Age | 21 years |
| Occupation | Salaried and self-employed |
| Customer Type | Exclusively available to Paytm customers |
| Income Requirement | No minimum income, but proof of regular source of income |
| Credit Score | High |
Documents Required to Avail SBI Paytm Credit Card
The following documents are required to be submitted for both categories of SBI Paytm Credit Card:
Identity Proof (any one of the following)
- PAN Card,
- Aadhaar card,
- Driver’s License,
- Passport,
- Voter’s ID,
- Overseas Citizen of India Card,
- Person of Indian Origin Card,
- Job card issued by NREGA,
- Letters issued by the UIDAI
Address Proof (any one of the following)
- Aadhaar card,
- Driver’s License,
- Passport,
- Utility Bill not more than 3 months old,
- Ration Card,
- Property Registration Document,
- Person of Indian Origin Card,
- Job card issued by NREGA,
- Bank Account Statement
Other Documents
- Passport size photograph
Income Proof
- ITR copies for salaried and self-employed individuals
How to Apply for an SBI Paytm Credit Card
As mentioned above, the SBI Paytm Credit Card is exclusively issued to Paytm customers. Therefore, applicants keen on applying for an SBI Paytm credit card can do so through the Paytm mobile app. The Paytm SBI credit card application process is as follows:
- Open the Paytm app on your Smartphone.
- Scroll down on the home screen to view the ‘Loans and Credit Card’ section.
- Click on the ‘Paytm credit card’ tab
- Enter your PAN number and the other required details to check the eligibility of the ‘SBI Paytm credit card’.
- In case you meet the eligibility conditions, you will be directed to the Paytm SBI credit card apply link.
- Fill up the application form and apply for the Paytm SBI credit card.
Similar Cards to SBI Paytm Credit Card
Other credit cards similar to the SBI Paytm Credit Card are:
| Credit Card | Annual Fee | Key Highlight |
|---|---|---|
| HDFC Moneyback Credit Card | Rs 500 |
|
| Lifestyle HC SBI Credit Card | Rs. 499 |
|
| Apollo SBI Credit Card | Rs. 499 |
|
Other credit cards similar to SBI Paytm SELECT Credit Card are:
| Credit Card | Annual Fee | Key Highlight |
|---|---|---|
| YES Prosperity Cashback Plus credit card | Rs 1499 |
|
| Spar SBI Card SELECT | Rs. 1499 |
|
| HDFC Millennia Credit Card | Rs. 1000 |
|
FAQs
Once approved, eligible users get their SBI Paytm credit card within 1 week.
SBI Paytm credit card can be applied through the Paytm mobile app. Login into your Paytm mobile app > Scroll down to ‘Loans and Credit Cards’ > Enter required details for eligibility check > Apply if eligible.
The SBI Paytm credit card is issued exclusively to Paytm users.
The applicant must be at least 21 years of age to apply for an SBI Paytm credit card.
The credit limit of the SBI Paytm credit card ranges between Rs. 10,000 to Rs. 1 lakh depending upon the income and credit score of the applicant.
Yes, the Paytm SBI credit card has two options - SBI Paytm credit card, and SBI Paytm SELECT credit card.