Paytm in partnership with SBI Card has rolled out India’s Most Sincere Credit Card in two variants- Paytm SBI Card and Paytm SBI Card Select. Card Holders cashback is automatically added to user’s Paytm Gift Voucher Balance. Card Holder can redeem this cashback on the Paytm app or millions of online & offline stores.”
Paytm SBICard Credit Card Feature and Benefits
Paytm SBI Card is an entry-level low-fee variant and rewards those who shop frequently through Paytm. Users will get the highest cashback on movies, travel and Paytm Mall purchases and also get 1% flat cashback on all other spends. Is this card worth it? Let’s find out.
|Credit Card Benefits||Paytm SBI Card||Paytm SBI Card SELECT|
|Annual Fee||INR 499/-||INR 1,499/-|
|Welcome Benefits Type||Complimentary Paytm First Membership worth ₹750 on first settled transaction||# Complementary Paytm First Membership worth INR 750/-|
# INR 750/- Cashback
|Annual Fee Waiver||–||Annual Fee reversal on achieving INR 2,00,000/- annual retail spend|
|Spend based CASHBACK Benefit Structure||# 3% Cashback on all Travel, Movies and Mall purchases through Paytm app|
# 2% Cashback on all other purchases through Paytm app
# 1% Cashback everywhere else
|# 5% Cashback on all Travel , Movies and Mall Purchases through Paytm app|
# 2% Cashback on all other purchases through Paytm App
# 1% Cashback everywhere else
|Fuel Surcharge Waiver||1% Fuel Surcharge waiver||1% Fuel Surcharge waiver|
|Cyber Fraud Insurance||Complimentary Cyber Fraud Insurance cover of INR 1,00,000||Complimentary Cyber Fraud Insurance cover of INR200,000|
|International Lounge Program||–||Complimentary Priority Pass worth US $99 for first two years of cardholder membership|
|Domestic Lounge Program||–||Complimentary 4 Domestic Lounge visits (Restricted to 1 per quarter)|
|Milestone Benefits||Complimentary Paytm First Membership E-Voucher on renewal on achieving Annual Retail spend of INR 1,00,000||# INR 2,000 gift voucher on achieving Annual Retail spend of INR 4 Lakhs|
# NR 4,000 gift voucher on achieving Annual Retail spend of INR 6 Lakhs
Bhavesh Gupta, CEO — Paytm Lending said, “We proudly welcome SBI Card as our partner to introduce India’s most sincere credit card with intelligent features and great rewards that never expire. Our cards are truly designed to benefit India’s aspiring youth and evolved professionals
Fees and Charges :
Following are the fees and charges associated with both Paytm SBI Card and Paytm SBI Card Select
|Particulars||Paytm SBI Card||Paytm SBI Card SELECT|
|Add on Card – Joining & Annual Fee||Nil||NIL|
|Cash Advance Limit||Up to 80% of the credit limit | Maximum Rs.12,000 per day||Up to 80% of the credit limit | Maximum Rs.12,000 per day|
|Finance Charges||Up to Rs.25 or 3.35% per month (40.2% per annum), whichever is higher||Up to Rs.25 or 3.35% per month, whichever is higher|
|Cash Advance Fee||–||2.5% of the transaction amount (subject to a min. Of Rs.500)|
|Late Payment Fee||Up to Rs. 500: NIL||Up to Rs. 500: NIL|
|Rs.500 – Rs.1000: Rs.400|
|Rs.1001 – Rs.10,000: Rs.750||Rs.1001 – Rs.10,000: Rs.750|
|Rs.10,001 – Rs.25,000: Rs.950||Rs.10,001 – Rs.25,000: Rs.950|
|Rs.25,001 – Rs.50,000: Rs.1,100||Rs.25,001 – Rs.50,000: Rs.1,100|
|Rs.50,001 and above: Rs.1,300||Rs.50,001 and above: Rs.1,300|
|Over-limit Penalty||2.5% of over-limit amount subject to a minimum of Rs. 500||2.5% of the over-limit amount (Minimum Rs.500)|
|Foreign Currency Transaction Fee||3.5% of the transaction value||3.5% of the transaction value|
|Card Replacement Fee||–||Rs.100|
|Railway Ticket Charges||–||Rs.30 + 2.5% of the transaction amount|
|Extended Credit||Interest-free credit period: 20-50 days||–|
|Minimum amount due: 5% of total outstanding||–|
Eligibility and Documentations:
Paytm SBI Card and Paytm SBI Card Select are only provided to selected customers of Paytm. However, to avail the card, the applicant has to meet the set eligibility criteria:
|Occupation||Both Salaried and Self-Employed|
|Customer Type||Only select Paytm customers|
|Income Requirement||No minimum income requirement|
Documents Required- After submission of your application, you can book for the KYC verification appointment via the Paytm app. The following listed documents are required to be submitted:
|Proof of Identity (copy)||PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI|
|Proof of Address (copy)||Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement|
|Other Documents||Passport size photograph|
Note: Please note that in case of any discrepancy, additional documents might be required.
How to apply for Paytm SBI Credit Card
These credit cards have been designed and are exclusively available for Paytm users. Users can apply for these cards on the latest version of their Paytm App.
FAQs (Frequently Asked Questions)
1. How can I apply for Paytm SBI credit card?
Paytm users can apply for the Paytm SBI Card and Paytm SBI Card SELECT online through their Paytm app. Both the cards can be availed at the annual fee of INR 499 and INR 1499 respectively. Customers will also have an option to choose from two-color variants on the Paytm App.
Due to high demand, Paytm is currently offering these credit cards to select Paytm users only. To apply
– Log in to your Paytm app
– Select Show More and tap on Loans and Credit Card section
– Users can also search ‘Credit Card’ in the Paytm Search bar
2. What KYC documents are required to apply for a Paytm SBI Credit Card?
Once the application has been submitted, our users can book for the KYC verification appointment on the app itself as per their convenience and require the following documents for submission:
1. Photo ID proof copy
2. Address proof copy (Either current address or permanent address)
3. Passport size photograph
(Please note that in case of any discrepancy, additional documents might be required.)
3. When can I get the card?
Post the KYC document verification, our users will be notified about their card approval/ rejection status in the next 1–2 business days. Once approved, they will receive the card in next 5–7 business days.
4. What is the minimum age to apply for the card?
5. Is there is a minimum income requirement to apply for the card?
There is no minimum income requirement. Both salaried & self-employed users can apply for these cards. However, due to high traffic, the applications have been restricted to a limited audience.
Credit Card approvals are at the sole discretion of Paytm and SBICard. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.