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SBI Unnati Credit Card

The State Bank of India (SBI) offers SBI Unnati credit card against a fixed deposit of minimum Rs 25,000. The card has no joining or annual fees for the first 4 years and also comes with few benefits such as 1% fuel surcharge waiver, milestone benefits and reward points in selected categories.

This secured FD credit card is a vary basic offering ideal for people such as students and homemakers looking to build or improve their credit score all the while enjoying few benefits on day to day spends. The card is not the best when it comes to benefits and perks but has some redeemable qualities. Find out more in this SBI Unnati credit card review.

SBI Unnati credit card

SBI Unnati Credit Card Overview

Card TypeSecured (Against FD)
Joining FeeRs.0
Annual FeeRs. 0 for first four years, Rs. 499 from fifth year
Welcome OfferNA
Best Features– 1 reward point on every Rs. 100 spent
– Rs. 500 cashback on spend of Rs. 50,000 or more in a year
– 1% fuel surcharge waiver up to Rs. 100 maximum per month on transactions valued between Rs. 500- Rs. 3,000

Details from SBI

  • Zero fee card: SBI Card Unnati is free for first four years. Rs. 499 annual fee 5th year onward.
  • Rewards on Spends: Get 1 reward point per Rs 100 spent, redeemable against a wide array of gifts from the SBI rewards catalogue. Cash Advance, Balance Transfer, Encash, Flexipay and Fuel transactions are not included in Reward Points Program
  • Milestone Rewards: Receive Rs 500 Cashback, within 15 days of achieving annual spends of Rs 50,000 or more. Applicable for all membership years
  • Enjoy Complete Fuel Freedom: 1% fuel surcharge waiver of up to Rs 100 per month for each transaction between Rs 500 & Rs 3000 (exclusive of GST, wherever applicable, & all other charges).
  • Secured Card: The card is issued with a lien on Cardholder’s fixed deposit of Rs 25,000 or more with SBI Bank.
  • Terms and conditions apply.
  • Visit your nearest SBI branch to get the SBI card Unnati.

Fees and Charges

Joining Fee

₹0

Annual Fee

₹0 for first four years, ₹499 5th year onward.

Finance Charges

2.75% per month (33% p.a.)

Forex Mark-up Fees

3.5% per transaction.

Cash Withdrawal Charges

2.5% or ₹500 per transaction, whichever is higher.

Late Payment Fee

SBI charges the late fees on non-payment of minimum due amount on time:

From Rs. 0 – Rs.500: NIL
Rs. 500 – Rs. 1000: Rs 400.
Rs. 1000 – Rs. 10,000: Rs 750.
Rs. 10,000 – Rs. 25,000: Rs 950
Rs. 25,000 – Rs. 50,000: Rs 1100
More than Rs. 50,000: Rs 1300.

Rewards Redemption Fee

Rs 99 (on gifts, cash redemption, and specific vouchers only).

See full rates and charges on SBI website.

Pros and Cons

ProsCons
No annual fees for 4 years High amount FD (minimum Rs 25,000) required
Fuel surcharge waiver No Lost card liability cover or insurance cover
Cashback on meeting annual spend requirementReward rate too low
Foreign transaction fees

SBI Unnati Card: Full Review

The SBI Unnati credit card requires an FD of minimum Rs 25,000 which is a downer as compared to other such secured cards in the market. Sure, the cardholders get benefits such as zero fees, fuel surcharge waiver, Rs 500 cashback on yearly spend of Rs 50,000 or more and 1X reward points. However, these benefits fare poorly when compared with other FD-backed credit cards. For example, with IDFC First WOW, the minimum FD amount required is Rs 5,000 and the card offers foreign transactions at no charge, fuel surcharge waiver, 100% card limit and cash withdrawal limit on FD value, attractive welcome offers, insurance and protection cover and much more.

The rewards offered with SBI Unnati card can only be redeemed on gifts from SBI’s rewards catalogue and do not earn cash for flexible usage. There is no welcome offer to attract consumers.

If you are someone looking for a FD-backed credit card with better offers and rewards, less limitations and flexible usage, there are better options in the market.

Reasons to get SBI Unnati Card:

If you are new to credit, looking to build your credit score, or to improve bad credit score, do not want to pay any fees and want to save money on fuel, then you can consider applying for the Unnati card.

How to apply online?

You have to visit your nearest SBI branch to get Unnati credit card against your already existing FD account or open a new FD account. There is no option to apply online for SBI Unnati credit card at SBI card website.

No income proof or credit score is required to get the SBI Unnati card as it’s with lien of the fixed deposit. However, you may have to submit few documents such as address proof and identity proof as required by the bank.

Eligibility criteria to get SBI Unnati credit card is quite simple. You must be of age 21-70 years and have a FD account with the SBI (FD value – minimum Rs 25,000).

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