State Bank of India (SBI Card) · with Ola MoneyVisa · MastercardLast checked 12 Oct 2026closed to new applicants
The OLA Money SBI Card costs Rs 499 a year, waived if you spend Rs 1,00,000 in a year. Its base return is 1% (1% as Reward Points on all other spends). Accelerated earn: 7% as Reward Points on all Ola rides. The forex markup is 3.5%. It lists no airport lounge access. Read from the issuer's documents and an aggregator on 12 Oct 2026.
SBI CardOLA Money SBI CardCard design not shown
Annual fee
Rs 499+ GST
Fee waived at
Rs 1,00,000annual spend
Base return
1%
Forex markup
3.5%
Interest
3.75%a month
Fees
Joining fee
Free
Annual fee
Rs 499
Annual spend that waives the fee
Rs 1,00,000
Fee notes
Joining fee nil; renewal Rs 499 from second year, reversible if previous year's spend is Rs 1 lakh or more. Add-on card free.
Rewards
Welcome benefit
None stated; zero annual fee in the first year
Reward currency
Reward Points
Base earn
1% as Reward Points on all other spends
Base return
1%
Point value
1 RP = Re 1
Accelerated earn
7% as Reward Points on all Ola rides
Capsunverified
Ola 7% capped at 500 RP per month
Milestone benefitsunverified
None
Reward notes
base_return_pct = 1% of spend as RP x Re 1 per RP, both stated on the issuer page. Aggregator quotes a Rs 99 redemption fee and auto-credit to the Ola Money wallet.
Travel and perks
Domestic loungeunverified
None
International loungeunverified
None
Forex markup
3.5%
Fuel surcharge waiver
1% at all petrol pumps, cap Rs 100 per statement cycle
Charges and eligibility
Interest per month
3.75%
Late payment fee
On outstanding amount due: Nil up to Rs 100; Rs 100 (>100-500); Rs 500 (>500-1,000); Rs 750 (>1,000-10,000); Rs 950 (>10,000-25,000); Rs 1,100 (>25,000-50,000); Rs 1,300 (>50,000); plus Rs 100 if minimum due missed two cycles running (slabs as revised 1 May 2026)
Cash advance fee
2.5% of amount, min Rs 500; ATM limit Rs 15,000/day; interest from day one
Fine-print notes
Issuer product page read 2026-10-12 (rendered text); fields not listed in unverified_fields are from it or from the issuer MITC/KFS/notices already cited. The issuer page states: 'W.e.f. Dec'25, Ola Money SBI Credit Card has been discontinued' and existing cards are replaced with a SimplyCLICK / SimplySAVE SBI Credit Card; status closed-to-new is now issuer-confirmed (the card no longer exists for new or existing holders). Earn rates and point value matched the aggregators. Still from the aggregators (page silent): the 500 RP monthly cap on Ola rides, 'no lounge', 'no milestone' and the wallet-credit detail. Issuer-wide (MITC): rent payments carry Rs 199 fee; utility bills totalling over Rs 50,000 in a cycle carry 1% fee; wallet loads over Rs 1,000 carry 1% fee; education payments via third-party apps carry 1% fee; forex markup is not reversed on refunds; fees shown exclude 18% GST.
Questions
What is the annual fee of the OLA Money SBI Card?
Rs 499 a year, before GST. It is waived if you spend Rs 1,00,000 in a year.
Does the OLA Money SBI Card give airport lounge access?
No lounge access is listed for this card.
What is the forex markup on the OLA Money SBI Card?
3.5% of each foreign-currency transaction, before GST.