Simply click SBI card is geared for millennials with benefits for online spending. This is a sensible and rewarding card from our trusted SBI. The reward rate for its partner merchants (includes Amazon) is 2.5% and 1.25% for other online spends. For offline spends this card gives almost nil rewards (0.25%).
SBI does not state the eligibility criterion for this card on its website.
My estimate should be Monthly salary > Rs 20000
Fees and Welcome Offer
The joining fees (annual) are Rs 499+taxes (Rs. 608).
For the welcome offer you get an Amazon.in gift card worth Rs.500.
They are compensating you for the fees however, you will lose out the Rs 108 you paid as taxes.
Annual fee of Rs 499 is reversed if you spend more than Rs 1lac. It means they will charge the fees at the start of the next year and the charges will be returned in the next month’s bill. You will need to pay the fees when they charge them though.
Other than the regular SBI SimplyCLICK, SBI Simply Click Advantage is given against Fixed Deposits. You can take the Advantage version if your CIBIL score or income is not as per SBI's credit card approval policy. You will not be able to close the Fixed Deposit until you surrender the credit card.
SBI SimplyClick Pro version is given to govt employees. The benefit of the Pro version is that the fee reversal criterion is Rs 30,000 compared to Rs 1 lac for the regular version of the card. The disadvantage of this card is that the points are given for spends in multiples of Rs 125 instead of Rs 100 making this card 25% less rewarding than the regular version. You should avoid taking the pro version of the card.
All in all, if possible always go for the default or regular version of SBI SimplyCLICK credit card.
This card provides no lounge access.
1 Reward Point = Rs. 0.25
Partner Merchants: Earn 10X Reward Points on online spends with exclusive partners - Amazon / BookMyShow / Cleartrip / Lenskart / Netmeds / UrbanClap
This is worth 2.5%
Earn 5X rewards on all other online spends
This is worth 1.25%.
Earn 1 reward point per Rs.100 on all other spends.
Fine Print on E-Shopping Rewards
Cumulative 10X & 5X Reward Points accrued on Online spends have a capping of 10,000 Reward Points per calendar month.
This will generally be applicable in cases where you are buying large appliances from ecommerce websites. You can buy upto Rs 1 lac beyond which this limit will become applicable. This limit is quite generous.
Wallet loading transactions will not accrue Reward Points.
Utility Bill Payments will not accrue 5X Reward Points .
Amazon Gift Card purchases will not accrue 10X reward points
SBI Yono Portal
SBI’s yono portal allows you to get additional discounts over and above the Reward Programme.
Below are the list of offers shown today.
To use this log on to the link below:
SBI yono: https://www.sbiyono.sbi/wps/portal/login
Go to the offers section and then get directed to the relevant website for your purchase.
The common offers are
Flipkart: 5% cashback as Flipkart gift card upto Rs 750 which will be sent to the registered mobile number
Amazon: get 5% amazon pay cash back upto Rs 500.
Kindly note, the offer is valid only on items added to cart on immediately after landing from the SBI YONO app.
Using this make the effective savings on Amazon and Flipkart as 7.5%(2.5% reward points + 5% yono cash back) which is much higher than even HDFC’s smartbuy portal which gives only 5% cashback.
Reward Points redemption
You can browse the list to see different voucher options. The reward point value varies as per the voucher you see.
· The max value of 1 Reward Point = Rs 0.25.
The best option is to either go for e-voucher from Amazon or Cleartrip.
2000 Reward Points gives Rs. 500 Amazon or Cleartrip Gift card
· The best part is that the redemption is free unlike SBI’s Simply Save which charges Rs 99+ tax for each redemption request. Be careful, if you choose a physical gift card or deliverable item the redemption fee is applicable.
Fuel Surcharge Waiver
1% fuel surcharge waiver for each transaction between Rs 500 & Rs 3000
Cleartrip e-voucher worth Rs.2,000 on annual online spends of Rs.1 Lakh
Cleartrip e-voucher worth Rs.2,000 on annual online spends of Rs.2 Lakhs
The voucher is valid for Flights and Hotels; not valid for bus and Train booking
Valid for a period of 6 months
Up to 3 gift cards can be used in a single transaction
Use the savings calculator given below.
Add in your monthly spends category wise.
Press “Calculate” to find out how much you will save with this card.
If the Calculator doesn't run, click here and run again :)
Considering spends of Rs 20000 per month, the savings rate comes out to be 3.29%.
Any card which gives more than 2.5% savings as per your expenses, deserves its place in your wallet.
Conclusion And Rating
This is a great card which gives a high reward rate without making you jump through any hoops. The only drawback is that it does not provide lounge access. However, considering its fees is just Rs 499, it is completely acceptable.
This card is the superior cousin to SBI Simply save credit card.
Similar or Better cards
For the target consumers, I doubt there is a better alternative.
You might think ICICI Amazon pay is a good competitor but if you use SBI’s Yono portal your savings are 7.5% compared to 5% in Amazon itself.
HDFC’s Regalia First could have been a contender, but HDFC does not issue it any longer.
Still for any reason if you are not meetings SBI’s strict criterion, CITI Rewards credit card can be considered but it does give you poor rewards.