SBI

Paytm SBI Select Credit Card

Paytm SBI Select Credit Card review 2021: Get benefits up to Rs. 75,000 with 1% cashback on all spending. Cyber fraud insurance of 2 lakh inside.

Written by Roopya

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Paytm SBI Select Credit Card is so designed that it promises to be better than any other e-commerce card coming from competing banks across the world.

State Bank of India and Paytm have collaborated to give users more credit benefits in the form of two cards – Paytm SBI card and Paytm SBI Card Select.

Paytm SBI select credit card banner

Though both the cards have their own set of features and benefits, the latter has some added features for users with a bit more to be paid to enjoy the ownership compared to its regular counterpart.

 Highlights Of Paytm SBI Select Credit Card 

Welcome OffersCashbacks
Bill payment, recharge, bookingRs. 10,000
OTT platforms (Voot, Gaana, ZEE5, Hungama etc)Rs. 5,000
Food delivery & dineoutRs. 5,000
ShoppingRs. 12,000
Health benefits (1mg, Apollo etc)Rs. 10,000
Cashback OffersAmount
Paytm mall, travel & movies5%
All purchases through Paytm app2%
All other spends1%
Fees & ChargesAmount
Joining FeeRs. 1,499
Annual FeeRs. 1,499
Add-on card issueNil
Cash advanceMax Rs. 12,000 per day
Over-limit penalty2.5% of the excess amount

About the Paytm SBI Select Credit Card

With a lenient joining fee of Rs. 1,499, this Paytm SBI Select Credit Card variant offers cashback on transactions, priority pass membership, and cyber fraud insurance cover, which are tough to find with other options available in the financial market. If you prefer to receive significant cashback over reward points, this card is for you.

Also, you should definitely apply for this card if you are a frequent user of Paytm Mall and other services offered by Paytm.

Once you pay Rs. 1,499 for the Paytm SBI Card Select, you will have to pay the amount annually to ensure you keep enjoying the benefits offered by it year after year.

Want to compare it with other credit cards? Visit Compare Credit Card Benefits.

In this blog, we covered the following points:

  1. Features & Benefits
  2. Eligibility Criteria
  3. Documents Required
  4. How to apply?
  5. Fees & charges
  6. FAQs

Features & Benefits of Paytm SBI Select Credit Card

Some of the features and benefits of the Paytm SBI Card Select have been listed down below for interested cardholders to have a look at:

Welcome Benefits

As soon as you apply for the credit card ownership and make the annual fee payment of Rs. 1,499, you receive a very warm welcome from SBI+Paytm:

  • You get a complimentary Paytm First Membership upon card activation
  • You have a post first settled retail transaction on the account
  • Benefits of up to Rs. 75,000 along with the complimentary Paytm First Membership
  • Cashback worth Rs. 750 in your Paytm wallet

Cashback

As a cardholder, you will be allowed multiple cashback benefits, which will include:

  • 5% cashback on all purchases for Paytm mall, movies, and travel made using the Paytm app.
  • 2% cashback on other purchases made through the Paytm app.
  • 1% cashback for using the card everywhere else.
  • A significant cashback is earned in the form of reward points if the minimum expenditure made is worth at least Rs. 100. It is automatically redeemed as a Paytm gift voucher, which is further added to the Paytm Wallet linked with the registered mobile number. You can use this voucher balance for purchases made through the Paytm App.
  • Cashback worth Rs. 750 in your Paytm wallet as a welcome benefit.
  • 1% cashback for all QR transactions made through Paytm App using Paytm SBI Card Select.

Remember that there will be no cashback for expenditures done on any Wallet Load or fuel spends.

Fuel Surcharge Waiver

You get fuel benefits too when you are using the Paytm SBI Credit Card Select variant.

  • 1% fuel surcharge waiver for transactions ranging between Rs. 500 and Rs. 4,000
  • Maximum waiver of Rs. 250 is facilitated per statement cycle per credit card account

Complimentary Cyber Fraud Insurance Cover

The insurance cover scheme available for the card owners:

  • Up to Rs. 2,00,000 financial losses happening due to fraudulent use of the card are covered
  • Thus, cardholders receive complete protection against the misuse of his/her credit card
  • In case you lose your Paytm SBI Card Select. you can apply for a replacement card and pay the applicable fee
  • This protection is offered by ICICI Lombard General Insurance Company Ltd. and SBI Cards and Payment Services Limited is only a group policy administrator for this feature of the card.

Complimentary Priority Pass Membership

  • The standard membership is only available for primary cardholders
  • No complimentary visits for regular Paytm SBI Cardholders
  • this membership fee will be complimentary for only the first two membership years

Lounge Program

  • 4 domestic lounge access in a year valid for the primary cardholders
  • It is capped to 1 access per quarter

Milestone Benefits

  • If the spends fall between Rs. 4,00,000 and Rs.6,00,000, the cardholders receive Milestone gift vouchers worth Rs. 2,000 and Rs. 4,000, respectively.
  • You can choose any of the following electronic gift vouchers worth Rs. 2,000 and Rs. 4,000:
  • Hush Puppies/Bata
  • Pantaloons

Global Acceptance

  • Like any other credit card option, this Paytm SBI Credit Card is also accepted worldwide in more than 24 million outlets, including 3,25,000 outlets in India
  • Any outlet accepting Visa would accept payment through this Paytm SBI card

Add-on Cards

  • The primary cardholders can apply for add-on cards for their immediate family members, like parents, siblings, spouses, and children.
  • The add-on card applicant must be 18 years or more of age

Easy Utility Bills Payment

  • Easy Bill Pay facility lets card users pay for electricity, telephone, DTH, and other utility bills conveniently.

Balance Transfer

  • Transfer outstanding balance of all credit cards to your Paytm SBI Card Select
  • Lower interest rate applicable
  • Repayment available in EMIs

FlexiPay

  • Convert transactions involving hefty expenditure into easy instalments
  • The purchase should be of at least Rs. 2,500 or more to be eligible for EMI conversion
  • The conversion should be requested within 30 days of the purchase made
  • Login to the account and do it yourself

Easy Money Facility

  • Paytm SBI credit card users can enjoy an easy money facility as they get a draft or cheque against their cash limit.
  • These drafts or cheques can be delivered to your doorstep whenever required

Smart Spend Control

  • Intelligent features on Paytm App pr SBI card App should be managed and used properly
  • Features like Spend Analyzer, One Tap Lock/Unlock, and Smart Spend Control features make this SBI card the best in town

Eligibility Criteria of Paytm SBI Select Credit Card

Though the benefits are many, you can only enjoy them if you are eligible to apply for this Paytm SBI select credit card.

To know if you qualify, you can check the below-mentioned criteria that make you eligible for making the application:

  • You must be 21 years or more in age
  • Available for both salaried or self-employed individuals
  • Minimum required income is communicated at the time of application.
  • The add-on cardholder must be above the age of 18 years.

Another way to check the eligibility criteria more accurately is to follow the below-mentioned steps:

  • Visit SBI’s official website
  • On the SBI Credit Cards tab, go to the “Simplyfier” page
  • You will be asked questions one by one for the bank to know your personal and professional details, including your income and expense-related information.
  • You will be required to select your income range and other options
  • After you finish answering all the questions, click on “Show My Card”

You will get a list of cards you’re eligible to apply for. If Paytm SBI Card Select is there on the list, click and proceed further.

Documents Required for Paytm SBI Select Credit Card

While applying for this Paytm SBI select credit card, you need to make sure to accompany the application with the following documents:

  • Filled credit card application form.
  • A copy of PAN card or Form 60.
  • Identity proof – PAN, driving license, Aadhaar Card, etc.
  • Income proof – latest payslips, Form 16, IT return copy, etc.
  • Residence proof – Passport, Ration Card, electricity bill, Aadhaar, etc.
  • Passport size color photographs of the applicant.

However, the State Bank of India and Paytm might ask for some other document as applicable for advanced verification.

How to Apply for Paytm SBI Select Credit Card?

There are two ways of applying for the SBI ELITE credit cards – one is through the official website of SBI and another is through us – roopya.com.

Using Roopya

  1. Go to roopya.com
  2. Click on the Credit Cards option from the menu bar
  3. Select SBI Bank to be taken to the official website of the bank
  4. Select Paytm SBI Select Credit Card
  5. Fill in the application form
  6. Click Submit
  7. Upload the required documents to continue

Using SBI official website

  1. Visit the official website of SBI
  2. Click on Credit Cards from the menu bar
  3. Scroll down and search for Paytm SBI Select Credit Card
  4. Click on Apply Now for the same
  5. Fill in the application form E-Apply tab, asking for your personal, professional, and other details.
  6. Click Submit
  7. Upload the required documents to continue

Once you apply with all the documents attached, you will receive an application ID using which you can track your application status.

Fee & Charges of Paytm SBI Select Credit Card

  1. Joining Fee – Rs. 1,499 (one-time)
  2. Annual Fee – Rs. 1,499 (one-time)
  3. Renewal Fee – Rs. 4,999 (per annum to be paid from the second year)
  4. Add-on fee – Nil (per annum)
  5. Cash advance fee – 2.5% of the amount withdrawn or Rs. 500
  6. Finance charges – Up to Rs.25 or 3.35% per month (whichever is higher)
  7. Cash Advance Limit – Up to 80% of the credit limit or a maximum Rs.12,000 per day
  8. Payment dishonor fee – 2% of the amount payable or a minimum of Rs. 450
  9. Late payment fee
  10. Upto Rs. 500 – Nil
  11. Rs. 501 to Rs. 1, 000 – Rs. 400
  12. Rs. 1,001 to Rs. 10,000 – Rs. 750
  13. Rs. 10,001 to Rs 25,000 – Rs. 950
  14. Rs. 25,001 to Rs. 50,000 – Rs. 1,100
  15. Above 50,000 – Rs. 1,300
  16. Statement Request Fee – Rs. 100 per statement, which is 2 months old or more
  17. Card Replacement Fee – Rs. 100
  18. Over-limit charges – 2.5% of the over-limit amount or a minimum of Rs. 500
  19. Railway Ticket Charges – Rs.30 + 2.5% of the transaction amount
  20. Foreign Currency Transaction Fee – 3.5% of the transaction value

SBI Contact Points

Mail Address: SBI Cards and Payment Services Limited

Unit 401 & 402, 04th Floor, Aggarwal Millennium Tower,

E-1,2,3 Netaji Subhash Place,

Wazirpur, New Delhi 110034

CIN: U65999DL1998PTC093849

Fax: 91-124-3987306

SMS

Send an SMS to 5676791 from your registered mobile number.

FAQs

Is SBI credit card good in Paytm?

Of course, the Paytm SBI credit card option is one of the best with a lenient joining fee and innumerable features offered, including complimentary benefits, lounge access, cashback on almost every purchase, etc.

How can I get a Paytm SBI select credit card from Paytm?

To apply, you can either visit SBI’s official website or apply through us on Roopya. The process is mentioned below:

Using Roopya

  1. Go to roopya.com
  2. Click on the Credit Cards option from the menu bar
  3. Select SBI Bank to be taken to the official website of the bank
  4. Select Paytm SBI Select Credit Card
  5. Fill in the application form
  6. Click Submit
  7. Upload the required documents to continue

Using SBI official website

  1. Visit the official website of SBI
  2. Click on Credit Cards from the menu bar
  3. Scroll down and search for Paytm SBI Select Credit Card
  4. Click on Apply Now for the same
  5. Fill in the application form E-Apply tab, asking for your personal, professional, and other details.
  6. Click Submit
  7. Upload the required documents to continue

What is the credit limit of Paytm SBI cards?

The credit limit is up to SBI and Paytm to decide.

Who can apply for a Paytm SBI Select Credit Card?

You can apply:

  • If you prefer to receive significant cashback over reward points.
  • If you are a frequent user of Paytm Mall and other services offered by Paytm.
  • If you are fine with paying Rs. 1,499 as the annual and renewal fee
  • If you meet the eligibility criteria
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