Credit Card Reviews

SBI Unnati Credit Card Review: A Great First Card

SBI Unnati Credit Card Review: A Great First Card

SBI Unnati Credit Card: All you need to know

A major hindrance for common people in obtaining a credit card is the lack of credit history which is mandatory for all major banks. With the government pulling all stops to promote digital transactions and bringing more people into the digital fold, the common man’s inability to secure a credit card presented a huge void. Not anymore. This is precisely the problem that the SBI Unnati credit card will address. The bank has announced that they will not be considering the credit history of the applicant and as long as they satisfy the other laid down criteria, a lack of credit history is not going to be a hindrance.

The SBI Unnati credit card is available to all customers who have verified their KYC (know your customer) documents and have a minimum account balance of Rs. 25,000 in their accounts. The annual fee of this credit card is Rs. 499, but it is waived off for the first four years. This card is primarily aimed at first time users who have no credit history to speak of. Financial inclusion is not complete without credit inclusion and this is a sure shot way of empowering ordinary citizens.

SBI, a public sector undertaking bank, has a diverse network of more than 20000 branches across India and has become a brand that is trusted by most. This is precisely why SBI decided to tap into this sentiment while bringing more people into the digital fold. The 5 million strong SBI credit card family will surely see a surge in its numbers once the Unnati card becomes popular.

Features of the SBI Unnati credit card

Just like any other credit card, the Unnati card can be used at almost all outlets that accept Visa or MasterCard. The wide network of SBI ATMs ensures that you can withdraw money using the Unnati card from any of these ATMs without incurring additional charges.

The SBI Flexipay which is offered for Unnati card holders allows users to convert transactions above Rs.2500 into manageable EMIs. This can be done within 30 days from the date of transaction. SBI has taken it a step further with the Unnati card and now allows users to get a draft or cheque against your cash limit and get it delivered to your doorstep. This facility is available under the Easy Money scheme.

Fees and Charges

Now, let’s talk some numbers. Knowing Indian customers like SBI do, all this will count for squat if the fees charged are unrealistic. By waiving off the annual charges for the first four years, SBI has probably removed the last hindrance in the minds of customers from going for the Unnati credit card. SBI offers free add-on cards for Unnati users in a bid to encourage the use of credit cards.

Users can win a fuel surcharge waiver for each transaction between Rs. 500 and Rs. 3,000. For someone who has always relied on hard cash to fill fuel, this surcharge waive-off can be reason enough to try the Unnati card.

The bottom line

SBI is known for their banking transparency and they have adopted this into the Unnati Credit cards as well. There are almost no additional or hidden charges. For someone entering the world of digital transaction, the Unnati card can be a stepping stone that comes with zero risks. While providing the customer with the same benefits given by almost any other credit card out there, SBI does this without the customer having to worry about maintaining an impeccable credit history. Issuing credit cards based on the account held by the individual is a revolutionary step and can bring a lot of people into the digital fold.

If you are someone who has never owned a credit card, the SBI Unnati credit card can be a great place to start with!

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