SBI Card
OLA Money SBI Credit Card
Annual Fee
₹589₹499 + GSTBase Reward
1% points
Foreign Markup
3.5% on all foreign currency spends
Product Highlights
- Zero joining fee
- Renewal fee waiver on spending ₹1 lakh or more in the previous year
Category Rewards
grocery
5% Cashback on grocery, food, movies, dining
5%
dining
5% Cashback on grocery, food, movies, dining
5%
entertainment
5% Cashback on grocery, food, movies, dining
5%
dining
5% Cashback on grocery, food, movies, dining
5%
Fee Waiver
Waived on ₹1L annual spend
Merchant-Specific Rewards
OLA
7% Cashback on OLA rides
Reward Calculator
Earns ₹4,931/year (net)
Modest gain. Solid hold if you like the perks.
₹16K
across all your buckets
₹5.5K
direct cashback
₹5.5K
via direct credit
Effective rate
2.88%
Annual fee
₹589
Year 1 net
+₹4,931
Year 2+ net
+₹4,931
ongoing
Adjust your spend by reward bucket
3 bucketsSurcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Foreign exchange markup
3.5%Charged on every international (non-INR) transaction
Excluded from rewards
fuel, balance transfer, cash advance, emi, utility, insurance, jewelry, education, railways, wallet
Fuel surcharge waiver (good news)
1%on ₹500–₹3,000 fuel txns · capped at ₹100/cycle
Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
Earn 7% Reward Points on all OLA rides and 1% Reward Points on all other eligible spends.
Redemption
1 Reward Point = ₹1 against statement
Benefits & Features
1% fuel surcharge waiver at all fuel stations in India with a maximum surcharge benefit of ₹100 in a statement cycle.
Pros & Cons
Pros
- 7% Reward Points on OLA rides
- 1% Reward Points on all other spends
Cons
- No lounge access
- Limited to OLA for maximum rewards
Additional Info
Capped at 500 Reward Points per month.
Partner Merchants
Ready to apply?
Apply directly on the bank's official website. Quick approval, no hidden steps.
Apply NowOfficial bank website · Secure
Fees & Charges
Eligibility
Min Age
18 yrs
Networks
Fee Waiver
Waived on ₹1L annual spend