State Bank of India offering free Credit Cards to customers who maintain Rs. 20,000 balance

Sushubh

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SBI offers free credit card at 'zero annual fee' for cusotmers with minimum Rs 20,000 balance

With the aim of expanding the reach of digital payments, the State Bank of India on Tuesday said that it will offer credit cards to every account holder who has a balance of Rs 20,000-25,000. The card will be offered through a network of 20,000 plus SBI branches.
Explaining the reasoning behind keeping the card free, SBI Cards CEO Vijay Jasuja said: "SBI has close to 30 crore customer accounts, including Jan Dhan Yojana. Post-demonetisation the balance amount in these accounts increased significantly. Many customers do not have credit history and are not eligible for cards. We want to bring about financial inclusion in terms of credit facility with this new product."
 

ajgamer

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Any idea if the card is eligible for international payments such as international websites/payment gateways/payment processors?
 

raj2007

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This credit card(Unnati) is issued only against FD of 25k or more:(
 


ajgamer

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What is the card processor? VISA or MASTER CARD?

What is the minimum age req. for the SBI Credit Cards?
 


Sushubh

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What's the point then? FD based credit cards have existed for like ever. I got my first card through this route when I was around 20.
 

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