M16S / State Bank of India (SBI Card) / PSB SimplySAVE SBI Card
entry · cobrand, rewards
PSB SimplySAVE SBI Card
The PSB SimplySAVE SBI Card costs Rs 499 a year, waived if you spend Rs 1,00,000 in a year. Its base return is 0.17% (1 RP per Rs 150 on all other spends). Accelerated earn: 10X: 10 RP per Rs 150 on dining, movies, departmental stores and grocery. The forex markup is 3.5%. Read from the issuer's own documents on 12 Oct 2026.
- Annual fee
- Rs 499+ GST
- Fee waived at
- Rs 1,00,000annual spend
- Base return
- 0.17%
- Forex markup
- 3.5%
- Interest
- 3.75%a month
Apply on sbicard.comOpens the bank’s own page.
Fees
| Joining fee | Rs 499 |
|---|---|
| Annual fee | Rs 499 |
| Annual spend that waives the fee | Rs 1,00,000 |
| Fee notes | Annual fee Rs 499 + taxes; renewal fee Rs 499 from second year, reversed if previous-year spend >= Rs 1,00,000 (product page). |
Rewards
| Welcome benefit | 2,000 bonus RP (worth Rs 500) on spending Rs 2,000 or more in the first 60 days |
|---|---|
| Reward currency | Reward Points |
| Base earn | 1 RP per Rs 150 on all other spends |
| Base return | 0.17% |
| Point value | 4 RP = Re 1 against card outstanding (Rs 0.25 per RP); rewards catalogue also available |
| Accelerated earn | 10X: 10 RP per Rs 150 on dining, movies, departmental stores and grocery |
| Points expiry | 24 months |
| Reward notes | base_return_pct = 1 RP per Rs 150 x Rs 0.25 (4 RP = Re 1 against card outstanding, both from the product page) = 0.17%; 10X categories 1.67%. Reward redemption fee Rs 99 + GST on physical products, statement credit and physical vouchers (MITC). |
Travel and perks
| Forex markup | 3.5% |
|---|---|
| Fuel surcharge waiver | 1% on fuel txns Rs 500-3,000, 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 | PSB = Punjab & Sind Bank. The .page address was the one rendered (entry earlier pointed at the .html address). Reward, welcome, fuel and fee fields now read from the issuer's product page (rendered 2026-10-12). The page is live with a branch-apply instruction, so status open is treated as confirmed. The page states no lounge benefit and no cap on 10X points; lounge fields stay null. Network not stated beyond generic 'accepts Visa or MasterCard' acceptance text, so networks stay empty. Page vs earlier value (page used): accelerated_earn was '10 RP per Rs 150 on accelerated categories (categories not read)' from the 1 Mar 2022 issuer notice; page names dining, movies, departmental stores, grocery. 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 PSB SimplySAVE SBI Card?
- Rs 499 a year, before GST. It is waived if you spend Rs 1,00,000 in a year.
- What is the forex markup on the PSB SimplySAVE SBI Card?
- 3.5% of each foreign-currency transaction, before GST.