• 'You' and 'Your' shall mean the applicant whose name appears on the SBI Card application form and includes his/her heirs and assignees. 'Additional Cardholder' shall mean an individual issued a Card as per your instruction in line with clause 2.6 of this Agreement.
• 'Card' or 'Credit Card' or 'SBI Card' shall mean a credit card issued by SBICPSL on a Card Account and which entitles a Cardholder to use the Card Account.
• 'Cardholder' is an individual who holds a Card under this Agreement and shall mean a Primary Cardholder and, where appropriate the Additional Cardholder.
• 'Card Account' shall mean an account opened and maintained by SBICPSL for the purpose of usage of the Card, under this Agreement.
• 'Cash Advance' shall mean any transaction whereby cash or cash equivalent is obtained by the Cardholder by use of the Card/Card number.
• 'Charges' shall mean all amounts charged to the Card Account under this Agreement including but not limited to purchase of goods, services or cash advances by use of the Card or a Card number, balance transfers, joining fee, annual fees, interest charges, finance charges, over limit charges, late payment charges, collection charges, maintenance charges transaction charges and service charges.
• 'International transactions' mean the transactions entered into by the Cardholder on his/her Card outside of India, Nepal and Bhutan.
• 'Merchant Establishment' shall mean any company, establishment, firm or person, wherever located and in whatever form (including the Internet), which is designated as a VISA/ MasterCard merchant and/or with whom there is an arrangement for a Cardholder to obtain goods, services or cash advances by use of the Card or Card number and includes any establishment displaying the VISA/ MASTERCARD symbol which appears on the face of the Card.
• 'Primary Cardholder' means a Cardholder in whose name the Card Account is maintained. 'Purchase Balance' shall mean any and all amounts relating to non-cash transactions owing to SBICPSL.
• 'Total Outstanding', 'Outstanding' or 'Outstanding Balance' (capitalised or not, in singular or plural) shall mean any and all amounts owing to SBICPSL on the Card Account. 'SBICPSL' shall mean SBI Cards and Payment Services Limited (formerly known as SBI Cards and Payment Services Private Limited) having its registered office at SBI Local Head Office Building, 4th floor, 11, Parliament Street, New Delhi-110 001, and shall include its successors and assignees.

• You shall be deemed to have unconditionally agreed to be bound by this Cardholder Agreement by acknowledging receipt of the Card in writing or by signing on the reverse of the Card or by incurring a Charge on the Card. If you do not wish to be bound by this Agreement then you must cut the Card in half and return it to SBICPSL promptly.
• The Card is the property of SBICPSL and must be surrendered to SBICPSL on request. The Cardholder must not permit any other person to use the Card and should safeguard it from misuse by retaining it under his/her personal control at all times.
• Each Cardholder may be issued a personal identification number or a password (PIN) to enable use of the Card for accessing his/her Card Account on the ATM and Internet and also for availing any privilege, benefit or service that may be offered by SBICPSL on the Card. The PIN will be communicated to the Cardholder entirely at his/her risk, who shall not disclose the PIN to any person and shall take all possible care to avoid its discovery by any person.
• The Cardholder shall be liable for all transactions made with the use of the PIN, whether with or without the knowledge of the Cardholder. SBICPSL reserves the right to refuse any transactions if it believes that the PIN is being misused or being used without appropriate authorisation.
• The Card is valid up to the last day of the month of the year indicated on the face of the Card unless cancelled earlier. Upon expiry or earlier cancellation, the Card may be renewed or reinstated at the sole discretion of SBICPSL. On expiry, the Card must be destroyed by cutting it in half diagonally.
• A Joining fee at the prevailing rate will be levied on opening of the Card Account. An Annual fee at the prevailing rate will be levied upon opening of the Card Account and then annually during the month in which the Card Account was originally opened. An Annual Additional Card fee will also be levied for each Additional Card on the Card Account at the prevailing rate. The Joining and Annual fee(s) are subject to change at the discretion of SBICPSL and are not refundable.
• SBICPSL may, based on the Primary Cardholder's written request, issue Additional Cards to individuals nominated by the Primary Cardholder who shall be unconditionally bound by this Agreement.
• The Primary Cardholder shall be fully liable to SBICPSL for all the Charges on his/her Card and also for those incurred by the Additional Cardholders. The Additional Cardholders shall be jointly and severally liable to SBICPSL for all the Charges even though the monthly statement of account may be sent only to the Primary Cardholder. The Primary Cardholder may at any time request cancellation of any Additional Card(s) but will continue to remain liable for any Charges on such Additional Card(s).

• The Card is valid for use in India and internationally as per usage restrictions, entitlements and other conditions stipulated by Reserve Bank of India (“RBI”) or any other Government authority from time to time.
• The Card is not valid for payment in foreign exchange in Nepal and Bhutan. The currency of transaction on the Card in Nepal and Bhutan shall be the local currency or Indian Rupee.
• The Cardholder (including the Additional Cardholder) shall strictly comply with all requirements of the foreign exchange control/management regulations issued by RBI from time to time and in the event of non-compliance, the Cardholder will be liable for action under the applicable exchange control/ management regulations. Moreover, the Cardholder may be debarred from holding the Card at the instance of RBI or SBICPSL.
• Use of the Card at Merchant Establishments will be limited by the credit limit assigned to each Card Account by SBICPSL from time to time. In case of Additional Cards issued by SBICPSL, the extent of use of all Cards so issued will be limited by the Card Account's credit limit. The Outstanding on the Card Account must not exceed the credit limit at any time. In the event of breach of this provision, the Cardholder will be charged an over limit fee at the prevailing rate. The Cardholder must repay the excess immediately. The over limit fee is subject to change at the discretion of SBICPSL. The credit limit may be revised from time to time at the discretion of SBICPSL.
• SBICPSL may, at any time without prior notice, refuse authorisation for a Charge incurred at a Merchant Establishment, and/or restrict or defer the Cardholder's ability to use the Card and/or suspend or cancel the Card and/or repossess (directly or through a Merchant Establishment or any other third party) the Card if it reasonably believes that it is necessary to do so for proper management of credit or business risk or if the Card or the Card Account is being or likely to be misused or if the Cardholder is in violation of the exchange control/management regulations or any other applicable law or regulation.
• The Card cannot be used for any purposes other than personal and bona fide business expenses. In the event that the Cardholder is found to be in violation of this term, SBICPSL will be constrained to block the Card with immediate effect.
• The Cardholder shall ensure that he/she maintains a detailed record of his/her transactions on the Internet. SBICPSL is not obliged to make any independent verification with regard to order details provided by the Cardholder and shall be entitled to rely on the details submitted by the Cardholder on the Internet.
• Some transactions may attract a service charge, in addition to the amount of the Charge, at certain Merchant Establishments. SBICPSL may also levy charges for collection of cheques, maintenance of the Card Accounts, and for other services that may be rendered to the Cardholder from time to time.
• The Cardholder must sign and collect the Chargeslip, Cash Advance Slip or Mail Order Coupon at the time of incurring the Charge. Failure to sign a chargeslip will not avoid liability for the Charges. The Cardholder must retain his/her own copy of the chargeslips. Copies of chargeslips will not normally be provided by SBICPSL. However, at its discretion, and upon customer request, SBICPSL may provide copies thereof subject to an additional charge.
• In relation to Charges on account of mail order or telephone or electronic commerce (e.g. on the Internet) where a chargeslip or voucher may not be available for signature, the Cardholder ccepts that in the event of any dispute regarding the authenticity or validity of such a Charge, the Cardholder will first clear his/her Outstanding on the Card and then endeavour to resolve the dispute directly with the concerned Merchant Establishment.
• Any chargeslip or other payment requisition (electronic or otherwise) received from a Merchant Establishment or any intermediary by SBICPSL for payment shall be conclusive proof that the amount recorded on such chargeslip or other requisition was properly incurred by the use of the Card by the Cardholder. Should the Cardholder choose to disagree with a Charge indicated in the monthly statement of account, the same should be communicated to SBICPSL within 10 (ten) days of the statement date, failing which it would be construed that 2 all Charges and the monthly statement of account are entirely in order.
• You agree that an electronic record or printout of an electronic record or a copy produced from a microfilm or a scanned /digital image of any document or Charge relating to your Card / Card Account with SBICPSL or produced from data received by SBICPSL electronically from the Merchant Establishment or from you or any intermediary, shall be conclusive evidence of that document or Charge for any purpose.
• SBICPSL will not be responsible if any Merchant Establishment refuses to accept the Card or is unable to transact on the Card or levies a surcharge on the Card. However, the Cardholder should notify SBICPSL of this complaint. SBICPSL is not responsible or liable for any defect or deficiency in respect of goods and services charged to the Card. Any dispute should be settled directly by the Cardholder with the Merchant Establishment and failure to do so will not relieve the Cardholder of any obligations to SBICPSL. The existence of a claim or dispute shall not relieve the Cardholder of his/her obligation to pay all Charges and the Cardholder agrees to pay promptly such Charges, notwithstanding any dispute or claim whatsoever. No claim by the Cardholder against a Merchant Establishment will be the subject of a set-off or counterclaim against SBICPSL.
• SBICPSL may, at its sole discretion, permit from time to time, its Cardholder to transfer his/her Outstanding balances (“Balance Transfer/s”) on other credit cards and credit facilities availed by him / her from other companies and financial institutions. Balance Transfers will not be accepted from overdue status accounts or where the credit limit has been exceeded or which are greater than the Outstanding balances on such other credit cards and will be limited to such percentage of the available credit limit on the Card as may be determined by SBICPSL. Balance Transfer requests will also not be accepted from other SBI card accounts. By choosing to avail of the Balance Transfer facility, the Cardholder authorizes SBICPSL to make payments to companies / financial institutions so designated. SBICPSL, however, reserves its absolute right to refuse any Balance Transfer request. The Cardholder must continue to meet his / her obligations in respect of his / her existing credit facilities, balances of which are the subject of Transfer hereunder, until he/she has received a written intimation from SBICPSL that the Balance Transfer request has been accepted and payments have been made to the companies/financial institutions so designated. SBICPSL will not be liable for any new charges, overdue payments or interests incurred on other credit cards/facilities. SBICPSL may, in its discretion, stipulate additional terms and conditions from time to time.
• The Cardholder acknowledges that the privileges, benefits and facilities attached to the Card may be suspended/withdrawn by SBICPSL at its discretion at any time without liability to the Cardholder. Termination of this Cardholder Agreement shall result automatically in the termination of such privileges, benefits and facilities. SBICPSL shall not be liable in any way to the Cardholder for any defect or deficiency in any privileges, benefits or facilities provided by third party suppliers or Merchant Establishments.
• A purchase and a cancellation of goods/services, e.g. air/rail tickets, are two separate transactions. The Cardholder must pay for the purchase transaction as it appears on the statement to avoid incurring finance charges or fees. Credit of refund on account of cancellation will be made to the Card Account (less cancellation charges) only when received from the Merchant Establishment. No cash refund will be given to the Cardholder. If a credit is not posted to the Card Account within a reasonable time, the Cardholder must notify SBICPSL within 30 (thirty) days of cancellation.
• The onus of complying with the foreign exchange control / management regulations, baggage rules, EXIM Policy and other applicable laws, as amended from time to time, is solely that of the Cardholder and the Cardholder and shall indemnify and hold harmless SBICPSL from any consequence, loss, damage, expense or any other financial charge that SBICPSL may incur and/or suffer on account of the Cardholder’s contravention of any applicable law and regulation. Non-compliance with the regulations shall not be a ground for the Cardholder to delay or refuse the amounts payable to SBICPSL. In case the Card is suspended/cancelled, whether on account of non-compliance with exchange control/management regulations or otherwise, SBICPSL will not be responsible for any attempted usage of the Card, whether in India or abroad, resulting in the Card being dishonoured and the concerned Merchant Establishment would be entitled to pick up the Card on presentation.

• The Cardholder may be permitted to obtain a Cash Advance from designated branches of State Bank of India, Automated Teller Machines (ATMs) and/or other permitted establishments subject to applicable terms and requirements imposed by SBICPSL from time to time. A minimum and/or maximum amount of Cash Advance that can be accessed on the Card in a single charge or in a single business day may be specified by SBICPSL periodically. The total amount that will be available for cash withdrawal at any point in time will be governed by cash limits set up periodically which will be disclosed to the Cardholder in the monthly statement of account. A cash advance fee will be levied on each such Charge and will be billed to the Cardholder.

• Insurance is optional and a subject matter of solicitation. In the event any insurance cover or benefit of any insurance cover is made available to the Cardholder by an insurance company at the request of SBICPSL, the Cardholder specifically acknowledges that SBICPSL will not be liable in any manner whatsoever and that the insurance company will be solely liable for all claims thereunder. The Cardholder shall not hold SBICPSL responsible for any matter arising out of or in connection with such insurance cover, whether for or in respect of any deficiency or defect in such insurance cover. Recovery or payment of compensation, processing or settlement of claims or any other matter in relation to the insurance cover shall be addressed to and resolved directly by the Cardholder with the insurance company.
• The Cardholder further acknowledges that the insurance cover so provided will be available to the Cardholder only as per the terms of the relevant insurance policy in force and only so long as the Card Account is maintained in good standing. On the Card being suspended or cancelled for whatever reason, the benefit of such insurance cover shall automatically and ipso facto cease to be available from the date of suspension/cancellation of the Card Account.
• The Cardholder hereby authorizes SBICPSL to require the insurance company to settle any Outstanding on his/her Card Account before payment of any compensation or claim to his/her heirs, nominees, beneficiaries, etc., under the insurance policy.

• The monthly statements of account shall be sent to the Cardholder by mail unless the Cardholder specifically opts for such statements to be sent by e-mail, in which case they shall be sent at the e-mail address specified by him/her in the application or by a separate intimation. Additionally, the Cardholder may also access his/her Card Account on the Internet, as and when so enabled by SBICPSL, at its website by using his/her PIN to check his/her statement of account. If the Cardholder experiences any difficulty in accessing the electronically delivered statement of account, he/she shall promptly inform SBICPSL. The Cardholder agrees to access his/her aforesaid e-mail account at regular intervals of time. The Cardholder will not hold SBICPSL responsible for his/her not having access, for any reason whatsoever, to the information and statements of account sent to him/her via e-mail. Failure on the part of the Cardholder to receive the statement of account electronically (by e-mail or through access to the Card Account on the Internet) will not avoid his/her liability for the Charges incurred on the Card and the Cardholder shall be liable to make payment for the Charges within 30 days of incurring the Charge on the basis of his/her own record of the transaction or earlier if requested by SBICPSL.
• SBICPSL will debit the Card Account for all the Charges incurred by use of the Card and provided for in the Agreement . Charges in respect of International Transactions incurred in foreign currency will be segregated from the Indian Rupee transactions in the statement of account. All Charges (including those in respect of International Transactions) shall be billed in Indian Rupees. The Cardholder agrees and hereby authorises SBICPSL to convert Charges in respect of International Transactions incurred in foreign currency to Indian Rupees at the applicable foreign exchange rates plus any service charges. SBICPSL will credit the Card Account for all payments made by the Cardholder to SBICPSL and also for any credit received from the Merchant Establishments in favour of the Cardholder. When the Card Account has a debit(s) or a credit(s) to be applied over a statement period as determined by SBICPSL from time to time, SBICPSL will send a monthly statement of account to the Cardholder reflecting such debit(s)/credit(s). The Cardholder's obligations and liabilities under this Agreement will not be affected in any way by non-receipt of the monthly statement of account and the Cardholder shall be liable to settle the Outstanding balance on the Card in due time on the basis of his/her chargeslip, noting, record or any other evidence (electronic or otherwise) of the Charge.
• The monthly statement of account will set out, inter alia, the Outstanding balance on the Card Account, minimum payment required to be made and the due date for payment. The minimum payment due from the Cardholder each month will consist of Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge(if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)
  W.e.f. 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any)
  • Unless the interest-free period applies as set out below, SBICPSL will levy a finance charge on any new purchase (and any related debited charge) from the day on which it is debited to the Card Account. The interest-free period fora purchase (and any related debited charge) in any statement period will apply if the Outstanding balance on the Card Account for the previous statement period (if any) is paid in full by its due date. If the Outstanding balance on the Card Account is not paid in full by its due date, a finance charge will be levied on any new purchase (and any related debited charge) from the day on which the purchase (and any related debited charge) is debited to the Card Account and on the Outstanding account balance on the Card Account from the first day of the last statement period. SBICPSL will charge interest on a Cash Advance from the day on which the Cash Advance is debited to the Card Account.
  • SBICPSL will ordinarily levy a finance charge on the Purchase Balance Outstanding on the Card Account on a daily basis by applying its current daily percentage rate to the amount of the Purchase Balance Outstanding at the end of each day. SBICPSL will levy a finance charge on Cash Advance balances on a daily basis by applying its current daily percentage rate to the amount of the Cash Advance balance at the end of each day.
  • The finance charge as above, will continue to be payable after termination of this Agreement or closure of the Card Account till Outstanding on the Card Account is cleared in full.
  • SBICPSL may at any time, under intimation to the Cardholder, vary the finance charge to take into account prevailing interest rates, market forces and credit and business risks.
  • No interest will be paid on any credit balances in the Card Account.
  • The Cardholder must make payment to SBICPSL each month of at least the minimum amount due as described in clause 6.3 hereinbefore.
  • Punctual payment is essential and it is a condition of this Agreement that all payments must reach SBICPSL on or before the payment due date indicated in the monthly statement of account but not later than 30 days from the date of incurring the Charge in any case.
  • If the minimum amount due is not paid by the payment due date, a late payment fee will be debited to the Card Account.
  • Payments will be applied towards the Charges on the Card Account in the following order:
    • In repayment of unpaid fees;
    • In repayment of service charges;
    • In repayment of membership fee (Joining/Annual);
    • In repayment of late payment fee;
    • In repayment of cheque dishonoured fee;
    • In repayment of collection expenses;
    • In repayment of over limit fee;
    • In repayment of interest debited to the Card Account;
    • In repayment of Charges;
    • In repayment of any Charges incurred but not yet billed;
    • and thereafter at the discretion of SBICPSL.
  • All payments made by cheque/draft are subject to realisation. Outstation cheques/drafts are subject to a collection charge at the prevailing rate, which is subject to change at the discretion of SBICPSL.
  • Should any payment instrument be subsequently dishonoured, a fee will be charged in respect of a dishonoured instrument. SBICPSL also reserves the right to initiate all appropriate legal action(s).
  • Please refer to MITC for the exact fees for cheque dishonour fee and other related charges.
• Duplicate monthly statements of account will be provided by SBICPSL to the Cardholder only for a period of six months preceding the Cardholder's request and would be subject to a service charge.
• The Cardholder will be liable for all Charges incurred and all other obligations under the terms and conditions of this Cardholder Agreement until the Card Account is repaid in full.
• SBI Cards may at its sole discretion and in accordance to its internal policies and procedures or on request from the cardholder may waive/reverse interest, fees or other charges which had been charged or levied by it to the cardholder.

SMA & NPA

(A) Special Mention Accounts (‘SMA’):

• In furtherance to Regulatory requirements, SBI Card is required to identify incipient stress in the account by creating a sub-asset category viz. 'Special Mention Accounts (‘SMA’)” with the three sub-categories as given in the table below.
• Credit cards are treated as "Loans other than revolving facilities".

Example regarding classification of SMA:

• If Payment Due Date (‘PDD’) of a Credit Card account is 31st March 2021, and “Minimum Amount Due (‘MAD’) are not received before this date then after the due date, the account will be mentioned as SMA – 0.
• If the account continues to remain overdue beyond 30 days from PDD i.e., beyond 30th April 2021 then this account shall get tagged as SMA-1. Similarly, if the account continues to remain overdue, beyond 60 days from PDD i.e., beyond 30th May 2021 then this account shall get tagged as SMA – 2.

(B) Non-Performing Asset (NPA):

• A credit card account will be treated as non-performing asset (‘NPA’) if the Minimum Amount Due, as mentioned in the statement, is not paid fully within ninety (90) days from the PDD mentioned in the statement. Further, any account where a settlement or restructuring arrangement has been availed will be classified as NPA. An account continues to be classified as NPA till the entire arrears of interest and principal are paid. Settlement and restructured accounts do not qualify for an upgrade. Finally, if any customer has even one credit card with SBI Card tagged as NPA, all cards of the customer will be classified as NPA.

Example regarding classification of an account as NPA:

• If Payment Due Date (‘PDD’) of a Credit Card account is 31st March 2021, and Minimum Amount Due as mentioned in the statement has not been fully paid by the customer within a period of 90 days from the PDD i.e., till 29th June 2021, then the lender shall consider the credit card account as NPA.

• Notwithstanding anything inconsistent contained in any other clause of the cardholder agreement/ Most important Terms & Conditions it is further stipulated that if the cardholder does not pay the minimum amount due for a period of 180 days, then the credit card services being provided by SBI Cards under this agreement shall stand terminated, however, the cardholder shall continue to be liable for any unpaid sum as on the 180 day plus any finance charges/delayed payment interest that SBI Cards may, at its sole discretion and option and in accordance to its various internal policies & procedures, levy for the period post 180 days after the payment due date.

• In the event the Card, Card number or the PIN is lost, stolen or misused by another person, the Cardholder must report the occurrence to SBICPSL. Although loss, theft or misuse may be reported by any means, the Cardholder must confirm to SBICPSL in writing immediately after reporting the loss/theft/misuse to the police. A copy of the police complaint/First Information Report (FIR) must accompany the written confirmation.
• If the Cardholder loses his/her Card overseas, he/she may either report the occurrence to SBICPSL or report the loss through the VISA/ MASTERCARD Global Emergency Assistance Services. In case the Cardholder uses the VISA/ MASTERCARD Global Emergency Assistance Services then the charges would be applicable as provided in the cardholder guide.
• SBICPSL is neither liable nor responsible for any transactions incurred on the card account prior to the time of reporting of the loss of the card, and the card member will be wholly responsible and liable for the same. However it is stipulated that after receipt of proper notification of the loss by SBICPSL by any means preferably on call or in writing, the card member shall have no financial liability. Furthermore, in addition to notifying SBICPSL about the loss or theft of the card, the card member must report any thefts of cards to police and other investigating authorities and lodge a First Information Report (“FIR”).
• The Cardholder will not be liable for transactions made on the Card after receipt by SBICPSL of the written notice of the loss/theft/misuse.
• On the loss of the Card, SBICPSL may at its sole discretion issue a replacement Card at a fee. In the event the Cardholder subsequently recovers the Card, the recovered Card must not be used and must be cut in half diagonally and returned immediately to SBICPSL and adequate care taken to prevent its misuse.
• The Cardholder is responsible for the security of the Card, Card number and the PIN and shall take all steps towards ensuring the safekeeping thereof. In the event SBICPSL determines that the aforementioned steps are questionable (on account of the Cardholder's negligence, malafides, etc.), financial liability on account of the lost, stolen or misused Card/Card number/PIN shall be borne by the Cardholder and could result in cancellation of the Card Account.
• As per Reserve Bank of India (RBI) mandate, dated 06 Jul’17 on Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, a policy is designed to ensure customer protection relating to unauthorized credit card transactions. The same is updated on SBI Card’s website under “Customer Grievance Redressal Policy”. The policy is based on the principles of transparency and fairness in treatment of customers

• The privileges of the Card may be suspended and the Card cancelled by SBICPSL, either temporarily or permanently, at any time as provided in clause 3 hereinbefore in its absolute discretion and without giving notice thereof to the Cardholder or assigning any reason therefore. SBICPSL may list the cancelled Cards in a Cancellation Bulletin/Alert/Hot List, etc. or otherwise inform the Merchant Establishments that the Card(s) issued on the Card Account have been cancelled. The Cardholder shall agree to surrender the Card to SBICPSL or its representative or a Merchant Establishment, upon being requested to do so either by SBICPSL or its representative or by a Merchant Establishment. The Cardholder must not use the Card after it has expired or has been suspended or cancelled and shall continue to be fully liable for the Charges incurred after its expiry/suspension/cancellation.
• The Cardholder can close his/her Card Account at any time by terminating this Agreement by a written notice to SBICPSL accompanied by the return of the Card cut in half diagonally and with full settlement of all Outstanding on the Card Account.
• Upon termination of this Cardholder Agreement for any reason whatsoever, whether at the instance of the Cardholder or SBICPSL, the Cardholder shall remain liable for all Charges incurred by the use of the Card and all amounts/Outstanding shall be due and immediately payable
• The Cardholder specifically acknowledges that once the Card Account is closed and privileges (including any benefits and services) of the Card stand withdrawn, reinstatement of the same is neither automatic, nor attendant and will take place solely at the discretion of SBICPSL. The Cardholder also acknowledges that the aforementioned takes precedence over any communication in this context that the Cardholder might receive during the normal course.
• The Card Account is liable to be suspended / cancelled on instruction from any government / regulatory body. All amounts Outstanding on the Card Account shall be deemed to have immediately become due on such instructions from government/ regulatory bodies as the case may be and SBICPSL shall be entitle to recover the same in accordance with the relevant laws in force.

• SBICPSL, at its sole discretion, can appoint agents for recovery of any Outstanding on the Card or initiate any other action allowed by law for recovery of all monies owing to SBICPSL.
• The Cardholder shall be liable for all costs associated with the collection of dues, legal expenses and decretal amounts with interest, should it become necessary to refer the matter to any agent or where legal recourse for enforcement of payment has been taken.
• The Cardholder expressly recognizes and accepts that SBICPSL shall be absolutely entitled to sell, assign or transfer in any manner (including through the drawing of a negotiable instrument or otherwise) in whole or in part and on such terms as SBICPSL may decide (including reserving a right to SBICPSL to proceed against the Cardholder on behalf of any purchaser, assignee or transferee) the Outstanding and dues of a Cardholder to any third party of SBICPSL’s choice without reference to or without written intimation by SBICPSL to the Cardholder and any such sale, assignment or transfer shall bind the Cardholder to accept such third party as a creditor exclusively or as a joint creditor with SBICPSL, but with the right to SBICPSL to continue to exercise all powers hereunder on behalf of such third party and to pay over such Outstanding and dues to such third party or to appropriate the same, as SBICPSL may decide. Any costs incurred by SBICPSL towards enforcement of its rights and recovery of Outstanding and dues shall be debited to the account of the Cardholder.
• Where SBICPSL acts on good faith in response to any oral or electronic instruction or inquiry by the Cardholder in respect of any matter in relation to the Card, the Cardholder will not be entitled to claim or allege any loss, damage, liability, expense etc., attributable, directly or indirectly, to any such good faith action of SBICPSL and the Cardholder agrees to hold SBICPSL harmless in respect thereof.
• The total Outstanding on the Card Account, together with the amount of any Charges effected but not yet charged to the Card Account, will become immediately due and payable in full to SBICPSL on bankruptcy or death of the Primary Cardholder and the Card Account shall immediately stand cancelled. The Primary Cardholder's estate will be responsible for settling any Outstanding on the Card Account and should keep SBICPSL indemnified against all costs including legal fees and expenses incurred in recovering such Outstanding. Pending such repayment, SBICPSL will be entitled to continue to levy finance charges at its prevailing rate.
• The Cardholder hereby authorizes SBICPSL or its representatives to contact his/her employer, banker or any other source to obtain and/ or verify any information or otherwise that may be required
• SBICPSL reserves the right to add to or change these terms and conditions and revise policies, benefits and features offered on the Card at any time, without limitation to changes which affect existing balances, finance charges or rates and methods of calculation. The Cardholder will be notified of any such changes. By keeping or using the Card after notification, the Cardholder is deemed to have agreed to the amendment/change. If the Cardholder does not agree with any amendment of the terms and conditions or any other change related to the Card or benefit made available on the Card, he/she may cancel the Card by cutting it in half diagonally and returning both halves to SBICPSL.
• If required by law to do so or if considered necessary to do so for proper management of credit or business risk, SBICPSL reserves the right to disclose any and all Cardholder information, including default in any payments, to any court of competent jurisdiction, quasi judicial authority, law enforcement agency, relevant wing of the Central Government or State Government, Cardholder’s employer, State Bank of India, any other card issuer, credit reference agency, financial institution or any company which is an affiliate or associate or parent or subsidiary of SBICPSL. The Cardholder acknowledges that information on usage of credit facilities by customers are also exchanged amongst banks and financial institutions which provide credit facilities and the Card may be cancelled on receipt of any adverse market information in relation to the Cardholder without any liability on SBICPSL to disclose any details thereof to the Cardholder.
• The Cardholder authorises disclosure of his/her Card Account information by SBICPSL to any third party engaged to provide any service in connection with operation of the Card Account and/or marketing of various services. The Cardholder agrees to SBICPSL sending, from time to time, marketing offers and/or promotional mailers to him/her at his/her postal or e-mail address, unless he/she has specifically opted not to so receive, in which event SBICPSL will be entitled reasonable time to stop sending such offers.
• The Cardholder hereby agrees that the Card application and copies of all documents submitted in support thereof and for the ongoing operation of the Card Account by the Cardholder to SBICPSL are and shall remain the sole and exclusive property of SBICPSL, and SBICPSL shall not be obliged to return the same to the Cardholder upon his/her request or upon termination of this Agreement.
• In the event that the Cardholder delays or is unable to settle the Outstanding on the Card in terms of this Agreement, SBICPSL is hereby authorised by the Cardholder to set-off and adjust any such Outstanding against any amount that may be payable by SBICPSL, in any capacity, to the Cardholder on any account whatsoever.
• The Cardholder agrees that SBICPSL may send him/her reminders from time to time for settlement of any Outstanding on his/her Card Account by post, fax, telephone, e-mail, cellular phone , SMS messaging and./ or engage third parties to remind, follow up and collect his/her Outstandings on the Card Account.
• The Cardholder agrees to comply with all applicable laws and regulations from time to time which govern or may be affected by the use of the Card.

The forbearance, delay or failure on the part of SBICPSL to exercise any right under this Agreement shall not operate as waiver of such a right nor preclude any further exercise of that right.

• Without in any way limiting the above, SBICPSL shall not be liable or responsible to the Cardholder for any loss, damage, expense, claim or liability arising directly or indirectly out of :
  • any defect or deficiency in any goods and services purchased on the Card or availed as a benefit, privilege or facility attached to the Card;
  • refusal by or inability of a Merchant Establishment to honour or accept the Card
  • refusal by or inability of a Merchant Establishment to honour or accept the Card;
  • handing over of the Card by the Cardholder to any unauthorised person;
  • any statement made by any person requesting return of the Card or any act performed by any person in conjunction therewith;
  • any injury to the credit, character and reputation of the Cardholder alleged to have been caused by the repossession of the Card and/or request for its return;
  • SBICPSL complying with any request made by the Additional Cardholder in relation to the Card Account;
  • the exercise of any right by SBICPSL seeking surrender the Card prior to the expiry of the date mentioned on the face of the Card whether such demand and surrender is made and /or asked by SBICPSL or any person or Terminal Device;
  • exercise of SBICPSL’s right to terminate any Card;
  • decline of any charge by SBICPSL because of the Cardholder exceeding his/her foreign exchange entitlements or usage restrictions as prescribed by RBI guidelines issued from time to time; and
  • if any demand or claim for settlement of Outstanding dues from the Cardholder is made by SBICPSL or any other person for and on behalf of SBICPSL, the Cardholder acknowledges that such an act shall not amount to an act of defamation or an act prejudicial to or reflecting upon the character of the Cardholder in any manner.
• The Cardholder is aware of all security risks, including possible third party interception of any of his/her transactions and statements of account on the Internet and the contents of his/her transactions or statements of account becoming known to third parties. The Cardholder agrees and undertakes that he/she shall not hold SBICPSL liable therefor in any way. The use and storage of any information, including without limitation, the Card number, PIN, password, account information, transaction activity, account balances and any other information available on the Cardholder’s Internet access device or computer is at his/her own risk and responsibility.
• Any notice given by SBICPSL hereunder will be deemed to have been received by the Cardholder within 7 days of posting to the Cardholder's address last notified in writing to SBICPSL or, where specifically requested, within 24 hours of sending the same via e-mail at the e-mail address specified by him/her. Any notice may also be sent by fax or communicated verbally and confirmed in writing by post or fax. SBICPSL shall not be held accountable for delays in receipt of notices by post. In the event of any change in the Cardholder's e-mail and/or employment and/or office and/or residential address and/or telephone numbers, the Cardholder shall inform SBICPSL promptly in writing or by e-mail and must confirm the same by mail or fax.
• No amount, charge or fee towards the below items would be considered for the computation of Spend Based Reversals:
  • Any EMI / Non- EMI products such as Balance Transfer, Balance Transfer on EMI, Encash or Flexipay;
  • ATM cash withdrawals; and/or
  • Any fee or charge levied by SBICPSL on your card account.

• The Cardholder Agreement shall be governed by the laws of India and the courts of Delhi.
• Any dispute, difference and/ or claims arising out of in connection with or in relation to this Agreement, shall be settled by arbitration in accordance with theprovisions of the Arbitration and Conciliation Act, 1996 and any subsequent statutory amendment, if any, to the Act , by a sole arbitrator, whose appointment shall be made at the instance and discretion of the SBICPSL. The arbitrator appointed shall be competent to decide whether any matter or dispute or difference referred to the arbitrator falls within the purview of arbitration as provided for in this clause and/or should be decided under the Arbitration and Conciliation Act, 1996.
• Any arbitration award granted shall be final and binding on the Parties. The venue and seat of the Arbitral Tribunal shall be at New Delhi.
• This Clause 10 shall survive termination of the Cardholder Agreement.

THE PROGRAM:

The SBI Card Shop & Smile Rewards Program allows eligible SBI Cardholders to accumulate points from spending on their SBI credit card as determined by SBI Card from time to time. Points accumulated on SBI credit card can be used in the manner as explained below.

POINTS EARNED/ACCUMULATED UNDER THE PROGRAM :

SBI Prime/Platinum & Elite/Signature Cardholders will earn 2 Reward Points for every Rs. 100 spent and earn 10 Reward Points for every Rs. 100 spent on Dining, Groceries, Departmental Store & Movies (Prime/Platinum).

SimplyCLICK SBI Cardholders will earn 1 Reward Point for every Rs. 100 spends 5 Reward Points for every Rs. 100 spent on online spends 10 Reward Points for every Rs. 100 spent for online spends with exclusive partners.

With effect from 01 Mar 2022, SimplySAVE / SBI Gold & More/ SBI Gold/ Classic/ International Cardholders will earn 1 Reward Point per Rs 150 spent and 10 Reward Points for every Rs 150 spent on accelerated categories, as applicable.

With effect from 01 Mar 2022, SimplySAVE Pro Cardholders will earn 1 Reward Point per Rs 150 spent and 5 Reward Points for every Rs 150 spent on accelerated categories as applicable.

The above changes in accrual, with effect from 01st March 2022, are also applicable on respective variants of Banking Cobrand and American Express cards.

SBI Card PULSE Cardholders will earn 2 Reward Points for every Rs.100 spent and 10 Reward Points for every Rs.100 spent on Chemist, Pharmacy, Dining and Movies.

Please refer to the card-specific Terms and Conditions for the MCCs of above-mentioned categories that qualify for accelerated Reward Points.

This Rewards Program is not applicable on SBI Railway Card, SBI Spice Jet Card and SBI Go Air Card.

Under the Rewards Program, following charges/ transactions / activities are not eligible for accruing Points:

• Balance Transfers, Balance Transfers on EMI.
• Cash advances (Domestic and Foreign)
• Easymoney
• Encash
• Dial a Draft
• ATM Withdrawals
• Financial charges (e.g. late payment fees, dishonored cheque charges, service fees,  transaction charges)
• e-Wallet loading transactions identified under MCCs 6540 and 6541 on best effort basis w.e.f 1st July 2020. Apollo SBI Card will continue earning Reward Points as per the card feature on e-Wallet Loading transactions
• Purchases at petrol pumps/service stations
• Any charge incurred prior to his/her enrollment date
• Any payment made using ‘Points + Pay’ option to redeem reward points on the rewards catalogue
• Accelerated Reward Points under Departmental Stores (MCC 5311) and Grocery Stores & Supermarkets (MCC 5411) for merchants - Metro Cash & Carry, Flipkart Wholesale and Walmart on SBI Card Elite / Signature, SimplySAVE SBI Card, SBI Card Prime / Platinum and select cobrand cards. However, identification of eligible & non-eligible transactions on these merchants for the purpose of Rewards shall be done by SBICPSL on a best effort basis.
• Transactions identified under MCCs 6540 and 6541 will not earn Reward Points. The MCC parameters considered for identification are defined by Network partners (Visa, MasterCard and Rupay).
• Card Protection Plan charges debited on your SBI Credit Card will not accrue any Reward Points on the card account
• Accrual of 5X Reward Points on online Rent Payment transactions with SimplyCLICK SBI Card and SimplyCLICK Advantage SBI Card will be revised to 1X Reward Points with effect from 01 MAY’23. Eligible rent payment transactions for the purpose of Reward Points shall be identified under Merchant Category Code (MCC) 6513 on best effort basis.
• W.e.f. 01 Jul 2023, accrual of Reward Points will be discontinued for Rent Payment transactions on following credit cards: Aditya Birla SBI Card, Apollo SBI Card, BPCL SBI Card, Delhi Metro SBI Card, Mumbai Metro SBI Card, Chennai Metro SBI Card, Fabindia SBI Card, IRCTC SBI Card, Ola Money SBI Card & Yatra SBI Card. Eligible Rent Payment transactions for the purpose of Reward Points shall be identified under Merchant Category Code (MCC) 6513 on best effort basis.
• W.e.f. 01 Apr 2024, accrual of Reward Points on Rent Payment transactions will be discontinued for certain credit cards. Please refer https://sbicard.com/cardslist for the list of cards. Rent Payment transactions shall be identified under Merchant Category Code (MCC) 6513, on best effort basis.
• W.e.f. 15 Apr 2024, accrual of Reward Points on Rent Payment transactions will be discontinued for certain credit cards. Please click here for the list of cards. Rent Payment transactions shall be identified under Merchant Category Code (MCC) 6513, on best effort basis.
• W.e.f. 01 Jun 2024, accrual of Reward Points on Govt Related transactions will be discontinued for certain credit cards. Please click here for the list of cards. Government related transactions shall be identified under Merchant Category Codes (MCC) 9399 and 9311, on best effort basis.
• W.e.f. 15 July 2024, accrual of Reward Points on Govt Related transactions will be discontinued for certain credit cards. Please click here for the list of cards. Government related transactions shall be identified under Merchant Category Codes (MCC) 9399 and 9311, on best effort basis.
• W.e.f. 1 Dec 2024, accrual of Reward Points on spends done on Digital Gaming Platforms/Merchants will be discontinued for certain credit cards. Please click here for the list of cards. Transactions on Digital Gaming Platforms/Merchants shall be identified under Merchant Category Codes (MCC) 5816, 7993 and 7994, on best effort basis. TnC

The reward points awarded for the following transactions /activities, will be reversed:

• Transactions pertaining to returned goods or services.
• Billing disputes; i.e., In case a customer raises a dispute with SBICPSL regarding the happening of a particular transaction for which he/she has been awarded reward points and the dispute has been settled in favor of the customer, then SBICPSL shall reverse the points awarded to the customer with respect to the transaction.
• Flexipay w.e.f 20th November 2020;
• Merchant EMI i.e. EMI availed at the time of purchase at Merchant establishment or websites, w.e.f 20th November 2020;
• Transactions eligible for Instant Discount and Cashback offers. Reward Points accrued will be forfeited, for offers starting 14 Sep’22 onwards (as per T&Cs of the Offer Program). Reward points will be forfeited for all transactions done during offer period and considered for Offer computation. In case cardholder does not have adequate Reward Points balance at the time of forfeiture, an amount equal to the deficit in the Reward Points will be debited from the card account. Reward Points shall be forfeited only when the cashback or Instant discount is successfully availed by the cardholder.

In the event of Foreclosure of Flexipay/ Merchant EMI, no Reward Points will be credited back in any scenario.

All identification of eligible & non-eligible transactions regarding Rewards by SBICPSL are on a best effort basis & may be subject to technical glitches.

SBICPSL will mail the primary cardholder in the monthly statement of account in respect of the SBI card of the number of points accumulated immediately preceding the closing date for the said monthly statement.

The points do not constitute property of the cardholder and are not transferable by operation of law or otherwise to any person or entity.

Points can only be accumulated for a period of 24 months from the date of the accrual of reward point under the rewards program. Any points not used by the end of the stipulated 24 months shall lapse and be forfeited.

In the event the SBI Card is voluntarily closed by the cardholder, the points accumulated on his/her SBI card account can be redeemed within 30 days of closure, otherwise these will automatically lapse. In the event of cancellation of the SBI Card for any other reason, all the points accumulated will stand forfeited, but may be reinstated at the discretion of SBICPSL if the use of SBI Card is reinstated.

Air India SBI Signature & Platinum Credit Card – Redemption of Reward Points against Air India Air Miles must be redeemed before voluntary closure of the Credit Card. Air Miles redemption can be fulfilled only on active Credit Cards.

For offers launched from 01 Dec 2023:

• Reward Points forfeiture for Cashback offers will be done within 90 days of Cashback posting date.
• Reward Points forfeiture for Instant Discount offers will be done within 6 months from the end of offer month. (e.g.: For Instant Discount offer ending on 15 Dec 2023, Reward Points forfeiture will be done between 1 Jan 2024 and 30 Jun 2024, both dates included)

REWARD ACCRUAL CAPPING POLICY:

With effect from August 1, 2018, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

SBI CARD PRIME: Maximum Cap of 7,500 Reward Points/Month - Cumulative 5X Reward Points accrued per Rs. 100 spent on Dining, Movies, Departmental Store & Groceries for your SBI Card Prime will have a maximum cap of 7,500 Reward Points per month. After the cap limit of 7,500 Reward points is achieved,2 Reward Points for every Rs. 100 spent , as per the card policy, will continue to accrue.

SBI CARD ELITE: Maximum Cap of 10,000 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining, Departmental Store & Grocery spends for your SBI Card Elite will have a maximum cap of 10,000 Reward Points per month. After the cap limit of 10,000 Reward points is achieved, 2 Reward Points for every Rs. 100 spent, as per the card policy, will continue to accrue.

PLATINUM SBI CARD: Maximum Cap of 7,500 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining & Departmental Store spends for your Platinum SBI Card will have a maximum cap of 7,500 Reward Points per month. After the cap limit of 7500 Reward points is achieved, 2 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

SIGNATURE SBI CARD: Maximum Cap of 10,000 Reward Points/Month - Cumulative 5X Reward Points accrued on Dining, Departmental Store, Grocery & International spends for your Signature SBI Card will have a maximum cap of 10,000 Reward Points per month. After the cap limit of 10,000 Reward points is achieved, 2 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

With effect from August 01, 2018, the REWARD ACCRUAL CAPPING POLICY shall supersede any communication made by or on behalf of SBI CARD in relation to the Rewards Policy which is in conflict to the aforesaid, including but not limited to communication through any product brochure, websites, sales kit, SMS, email, digital kiosk or by telephone.

With effect from August 20, 2020, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

Yatra SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 6X Reward Points accrued per Rs. 100 spent on Departmental Stores, Grocery, Dining, Movies and Entertainment for your Yatra SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

Yatra SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 6X Reward Points accrued per Rs. 100 spent on International spends for your Yatra SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

Mumbai Metro SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 10X Reward Points accrued per Rs. 100 spent on Dining, Movies, Grocery and Departmental stores for your Mumbai Metro SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

Mumbai Metro SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 10X Reward Points accrued per Rs. 100 spent on Auto Top-up for your Mumbai Metro SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

Chennai Metro SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 10X Reward Points accrued per Rs. 100 spent on Dining, Movies, Departmental Store and Groceries for your Chennai Metro SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

Doctor's SBI Card: Maximum Cap of 7,500 Reward Points/Month - Cumulative 5X Reward Points accrued per Rs. 100 spent on Medical Supplies and Travel Booking Spends and Cumulative 5X Reward Points accrued per Rs. 100 spent on International Spends for your Doctor's SBI Card - each will have a maximum cap of 7,500 Reward Points per month. After the cap limit of 7,500 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

SBI Card Krishak Unnati: Maximum Cap of 5,000 Reward Points/Month - Cumulative 5X Reward Points accrued per Rs. 100 spent on Utilities & Fuel payments for your SBI Card Krishak Unnati will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

With effect from September 01, 2020, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

BPCL SBI Card: Maximum Cap of 5,000 Reward Points/Month - Cumulative 5X Reward Points accrued per Rs. 100 spent on Groceries, Departmental stores, Movies & Dining for your BPCL SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

With effect from October 01, 2020, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

SimplyCLICK SBI Card: Maximum Cap of 10,000 Reward Points/Month - Cumulative 5X Reward Points accrued on other online spends on your SimplyCLICK SBI Card will have a maximum cap of 10,000 Reward Points per month. After the cap limit of 10,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue.

With effect from February 22, 2021, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

SBI CARD PRIME: Maximum Cap of 2,000 Reward Points/Year - Cumulative 20 Reward Points accrued per Rs. 100 spent on Birthday for three days (applicable on your birthday, a day before & after) for your SBI Card Prime will have a maximum cap of 2,000 Reward Points per year. After the cap limit of 2,000 Reward points is achieved,2 Reward Points for every Rs. 100 spent, as per the card policy, will continue to accrue. During the Birthday period (birthday, a day before & after), no other accelerated Reward Points will be accrued.

With effect from June 01, 2021, there would be a maximum capping of Reward points accrual for the below SBI Credit Cards, the details of the capping are as follows:

SHAURYA SBI CARD: Maximum Cap of 5,000 Reward Points/Month - Cumulative 5X Reward Points accrued per Rs. 100 spent on CSD, Dining, Movies, Departmental Stores and Grocery Spends for your Shaurya SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 100 spent, as per the card policy, will continue to accrue. 

With effect from March 01, 2022, Reward points accrual for the below SBI Credit Cards has been revised, the details of the capping are as follows:

SimplySAVE SBI CARD:  Maximum Cap of 5,000 Reward Point/Month - Cumulative 10X Reward Points accrued on Dining, Movies, Departmental Store & Grocery spends for your SimplySAVE SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5,000 Reward points is achieved, 1 Reward Point for every Rs. 150 spent, as per the card policy, will continue to accrue.

GOLD & MORE SBI CARD: Maximum Cap of 5,000 Reward Point/Month - Cumulative 10X Reward Points accrued on Departmental Store & Grocery spends for your Gold & More SBI Card will have a maximum cap of 5,000 Reward Points per month. After the cap limit of 5000 Reward points is achieved, 1 Reward Point for every Rs. 150 spent, as per the card policy, will continue to accrue.

The above capping are also applicable on respective variants of Banking Cobrand and American Express cards.

SBICPSL decision on the computation of points will be final, conclusive and binding on the cardholder.

POINTS REDEMPTION:

A fee of Rs. 99 plus applicable taxes will be debited from the cardholders account for redemption request towards delivery and processing charges in case of physical product redemption and statement credit. Please note, the reward redemption fee + applicable taxes would be charged only once as per batch processed in a day irrespective of no. of items redeemed during this period.

SCENARIO - Batch change triggers at a particular time in the day (eg. 10 P.M. or 11 P.M.) and cardholder makes two redemption requests at this particular time, one is received just before while other after the batch has been processed, then redemption fee will be levied twice. The same will be charged to the Cardholder in his/her monthly statement. On redemption, the points would automatically be subtracted from points accumulated in the cardholder's account. The cardholder may choose any of the following methods for Redemption:

• Visit sbicard.com; or SBI Card Mobile App
• Get in touch with SBI Card Customer care at 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code) 
• Mail us at sbicard.com/email
• Write to us at PO Box 28, GPO, New Delhi- 110001

The SBI Card must not be overdue, suspended, blocked, canceled or terminated by SBICPSL at the time of redemption request.

Reward redemption is not applicable on cardholder accounts where cardholder had not furnished updated KYC for periodical updation.

The points accrued can only be redeemed by the Primary Cardholder and not by an Additional Cardholder.

Points accumulated by a cardholder on an SBI card cannot be combined or used in conjunction with points of his/her other SBI cards at the time of redemption or transferred to any other customer loyalty program unless otherwise notified by SBICPSL.

The Reward Points may be redeemed as following rewards:

• Rewards Catalog offerings - Physical products and e-Gift Vouchers – in various categories.
• Statement Credit – Credit adjustable against card outstanding.
• At participating merchant establishments against merchandise/service purchased, as detailed in the communication issued by SBICPSL from time to time.

In case of redemption as statement credit, Reward Points can only be redeemed in the multiple of 2,000 points unless or otherwise stated.

The points cannot be exchanged for cash or other form of credit other than statement credit.

Gift certificate/voucher/physical product shall be delivered to cardholder within 15 Calendar days on a best-effort basis after receiving the redemption request from the Cardholder.

Redeemed Rewards are not exchangeable for other rewards or refundable. Once exchanged for any partner loyalty program, points cannot be transferred back. All Rewards are subject to availability and certain restrictions may apply. The redemption procedure and additional terms and conditions for each item are set forth in the redemption certificates/vouchers issued to the cardholder.

Other SBI card benefits which are activated by use of the SBI card do not apply to goods or services received as rewards under the program.

The number of Reward points earned on spends may differ on different segments of credit cards and SBICPSL reserves the right to decide the Reward points required by the Cardholder to avail the Reward Catalog offerings for each segment of credit cards offered by SBICPSL.

DELIVERY OF PHYSICAL PRODUCTS:

Products shall be directly supplied / sold by third-party service providers to the cardholders and SBI Card shall make the payment to such third-party service providers for the products in lieu of points redeemed by the cardholders.

SBICPSL reserves the right not to accept returns or change of correct and functional goods/services after a complete delivery has been made to the correct mailing address and accepted by the Cardholder. Any additional meals, transportation, accommodation arrangements, couriers or other costs incurred in connection with redemption of any reward will be the sole responsibility of the cardholder. Quality of goods/services is the sole responsibility of suppliers / manufacturers in accordance with their warranty and services terms and conditions if any.

The fulfillment agency will make such delivery within 15 Calendar days of receipt by SBICPSL of the redemption request on a best-effort basis. In case of goods shortage or upon expiration of the rewards catalogue, the delivery may be subjected to certain delay. All delivery disputes will be entertained within 30 days from the date the request has been made for the redemption.

SBICPSL is not liable for any delay or loss or damage of goods in delivery of redeemed physical products.

In case the physical product received is damaged/incorrect/incomplete, the Cardholder shall get in touch with SBI Card Customer care at 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code)  or click here to email us within 02 days of receipt of the same. In case the Cardholder fails to inform the issues within the given period of 2 days, then SBICPSL shall have the right to reject to entertain such grievances from the Cardholder.

E-GIFT VOUCHER USAGE:

Any additional costs incurred in connection with usage of e-Gift vouchers will be the sole responsibility of the cardholder.

Kindly note that Gift vouchers should be utilized within expiry dates mentioned on the voucher. Gift Vouchers will not be revalidated.

Issuance of e-gift voucher for dining, travel or hotel accommodation does not constitute a reservation. The Cardholder is responsible for making all reservations and notifying participating merchant establishments of the reward(s) he/she is going to redeem.

In case the e-gift voucher received is damaged/incorrect/incomplete, the cardholder to get in touch with SBI Card Customer care at 1860 180 1290, 1860 500 1290, 39 02 02 02 (prefix local STD code) or click here to email us within 02 days of receipt of the same. In case the Cardholder fails to inform the issues within the given period of 2 days, then SBICPSL shall have the right to reject to entertain such grievances from the Cardholder.

NEGATIVE REWARD POINTS :

• The modifications to the Reward policy regarding ‘negative reward point’ will be effective from 20th November 2020.
• Any negative balance in the rewards account of the Cardholder will be considered as an outstanding due to the Cardholders Account and as such the credit card account cannot be closed.
• The negative reward points shall be adjusted (without any further prior notice) against any new reward points earned by the Cardholder until the entire negative reward balance has been adjusted.
• In case a Cardholder having negative rewards points intends to voluntarily close the credit card account, then the equivalent value of such negative reward points will be automatically converted to statement debit and required to be paid by the Cardholder along with any other dues.
• In case a Cardholder having negative rewards points intends to flip to any other card category / segment, then the equivalent value of such negative reward points will be automatically converted to statement debit and required to be paid by the Cardholder along with any other dues.

OTHER CONDITIONS:

Fraud and abuse relating to earning and redemption of points in the program will result in the forfeiture of the points as well as termination of the SBI credit card account. SBICPSL or its merchant establishments for administrative and/or marketing purposes may use information supplied by a Cardholder on the redemption of rewards.

In case any reward points have been wrongfully availed or erroneously awarded and if the same have been redeemed against statement outstanding by Cardholder, then it can be adjusted back as statement debit on the card account.

The reward points that are accrued on your Card account shall be immediately forfeited on the occurrence of any of the following events:

• The Cardholder fails to make the Payment on the card which is due for a period greater than 90 days.
• The Cardholder fails to make payment of the outstanding dues on its Card Account and opts for settlement of the outstanding payment due on the Card account.
• The Cardholder is found to be involved in a fraud on its own Card account after an investigation is carried out by SBICPSL.
• The Cardholder’s failure to comply with the regulatory norms.
• In the event of death of the Cardholder.

In the event that the Cardholder does not initiate any transaction on his card for a period of 13 consecutive months, the reward point balance shall be forfeited at the end of the 13th month.

In the event that the Cardholder misses two consecutive payments, the rewards points that were accrued during the first cycle for which payment was not made will be forfeited.

In the event of a voluntary closure of the Card account by the Cardholder, the unutilized reward point balance shall be forfeited after a period of 30 days from the date of closure of the Card Account.

Any taxes or other liabilities or charges payable to the government or any other authority or any participating merchant establishment which may arise or accrue to a cardholder by redemption as aforesaid or otherwise as a result of the program shall be to the sole account of the cardholder.

SBICPSL reserves the right to cancel, change or substitute the rewards or the rewards conditions or the computations of points or terms and conditions of the program anytime. SBICPSL can suspend or terminate the program any time it deems necessary. In such a case SBICPSL will intimate the cardholder and give them an option to redeem the accumulated points.

Physical products/e-Gift Vouchers once redeemed by the cardholder, shall not be cancelled.

In the event of no availability of a Product, SBICPSL shall have right to send an alternate model offered by the brand which shall be of same or more value.

SBICPSL makes no warranties or representations either expressed or implied with regard to the type, quality or fitness of the goods and services provide by the participating merchant establishment under the program.

The Program does not in any way amend the Cardholder agreement between SBICPSL and the cardholder and any term referenced but not defined herein may be interpreted in accordance with the cardholder agreement.

In case of any dispute, decision of SBICPSL shall be final and binding.

Any disputes arising out of with respect to this Program shall be subject to arbitration under the Indian Arbitration and Conciliation Act, 1996 including any statutory amendments carried thereof. Arbitration shall be conducted by a sole arbitrator appointed by SBICPSL for this purpose and the award of the arbitrator shall be final and binding on the cardholder and SBICPSL. The place of arbitration shall be at New Delhi and the language of arbitration shall be English.

The Program shall be governed by and construed under the laws of India and the parties to a dispute shall subject themselves to the jurisdiction of courts of Delhi.

SBICPSL acts in good faith in response to any oral or electronic instruction or enquiry by the Cardholder in respect of any matter in relation to this program and fulfillment of any reward. The cardholder will not be entitled to claim or allege any loss, damage, liability, expense etc. attributable directly or indirectly, to any such good faith action of SBICPSL. All queries to the program may be addressed to:

• The promoted categories for the Gold & More / SimplySAVE SBI Card unless otherwise intimated are: Departmental Stores & Groceries. Spends made on any other category (as defined by Merchant Category Code MCC) using Gold & More / SimplySAVE SBI Card and would not be entitled accelerated Reward Points.) The promoted categories defined from time to time shall have the same meaning as ascribed to the categories by Visa & Master Card under their respective Merchant Category Codes. (i.e.) The franchisees have listed qualifying criteria for merchant establishments in order to qualify to be listed under a specified category. (like departmental stores, groceries etc) The merchant establishment needs to have accordingly qualified and hence listed in the Promoted Category, in order for the transaction to be eligible for the Accelerated Reward Points

• The sub categories and their respective MCCs under each of Promoted categories include the following:

• Departmental Stores & Groceries
  • Department Stores 5311
  • Grocery Stores & Supermarkets 5411

• Dining
  • Eating Places and Restaurants : 5812
  • Drinking Places : 5813
  • Fast Food Restaurants 5814

• Movies
  • Motion Picture Theaters : 7832

• The category of purchase will be decided on the basis of the Merchant Category Code (MCC) for the merchant establishment where the purchase is made. SBICPSL reserves the sole right to decide on whether a purchase meets the eligibility criteria as listed above.
• The category of purchase (as listed in card guide) have been mapped to Merchant category Code (MCC) based on VISA / MasterCard guidelines and standards. SBICPSL is NOT liable for any disputes that arise due to differences in merchant category code mapping maintained by acquiring banks.
• Cardholder is requested to validate Merchant Category Code (MCC) from the merchant before making swipe on his card. Only the above listed MCCs shall entitle the cardholder for Accelerated Reward Points on his card.