By Uday Devgan
Updated On August 2, 2022

SBI Corporate Utility Credit Card is one of the corporate cards launched by the SBI Bank. The Utility card solves the problems faced by the organizations while paying Utility bills. The card provides the corporates the ability to pay bills in a very simple and quick manner. It also provides consolidated organization level statement along with Individual statements. Get customized MIS & Analytics capability and Multi-layer Spend controls. The card also offers complimentary Fidelity Guarantee Insurance cover against any employee fraud. Following is the detailed review of the SBI Corporate Utility Credit Card:

(4.5/5)

Best Suited For

Joining Fee

NIL

Reward Type

Product Details

  • Pay bills in a simple, fast and secure way,
  • Spend Category based Control.
  • Multi-layer Spend controls
  • Customized MIS & Analytics capability
  • Complimentary  Fidelity Guarantee Insurance cover.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

NA

Reward Redemption

NA

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

Complimentary Fidelity Guarantee Insurance cover

Zero Liability Protection

Not liable for any transactions made on the Card after the receipt by SBICPSL of the written notice of the loss/theft/misuse of the card.

Fees & Charges

Joining Fee

NIL

Renewal Fee

Nil

Spend based Waiver

NA

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.35% per month (40.2%  per annum)

Fuel Surcharge

1% fuel surcharge waived off on transactions between Rs. 500 and Rs. 3,000 (max waiver capped at Rs. 100 per month)

Cash Advance Charge

2.5% (3% for international ATMs) of the withdrawal amount subject to a minimum charge of Rs. 450 per transaction.

Add-on Card Fee

Nil

SBI Corporate Utility Credit Card Features & Benefits

The SBI Corporate Utility card offers an easy and quick way for corporates to pay their Utility bills and much more. Following are the features and benefits of the card:

BillDesk BillPay

With BillDesk pay your bills in a simple, fast and secure way with SBI Corporate Utility Card and enjoy total flexibility and ease of payments. Also, manage what the employees have access to and what they receive. The card provides enhanced security through approval flow for all biller additions and individual payments based on a threshold.

Spend Category Control

With SBI Corporate Utility Card you can control the expenses and can put limits on the categories like you can allow only utility payments like mobile, landline, gas, electricity, and more.

Fidelity Guarantee Insurance

Get complimentary Fidelity Guarantee Insurance cover for organization against employee fraud.

Cover Description
Individual cards Equal to the credit limit of the card, subject to a maximum amount of Rs. 2 lakhs
Corporate level Per corporate entity, the cover is limited to a maximum of Rs. 60 lakhs

Smarter Expense Management

Use VISA Intellilink to control expenses better rather than resort to budget cuts. Visa Intellilink is a web-based interface that does not require any changes in the system and provides a dashboard for quick snapshots of key information.

Customized Solution & Controls

Get 2 e-statement for SBI Corporate Utility Card:

  • Corporate Utility Card Consolidated Statement – This e-statement will be generated on 2nd of every month. Details of all the card accounts for the corporate will be included in this statement.
  • Consolidated Corporate Utility Card Interim Statement – This e-statement will be generated on 13th of every month. All debit transactions of the card for the corporate will be included in this statement for the period of 3rd to 13th of the same month.

24×7 Services

Dedicated team of Service Desk Executives and Relationship Managers for assistance and support.

Fuel Surcharge Waiver

1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 (max waiver capped at Rs. 100 per month)

SBI Corporate Utility Card Fees & Charges

  • Joining Fee/Annual Fee: SBI does not charge any joining or annual fees for the SBI Corporate Utility card.
  • Interest Rate: An interest rate of 3.35% per month (40.2%  per annum) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
  • Forex Mark-up Fee: A foreign currency mark-up fee of 3.5% (plus applicable taxes) of the transaction amount is applicable on all foreign currency transactions made with SBI Corporate Utility card.
  • Cash Advance Charges: A charge of 2.5% (3% for international ATMs of the amount withdrawn or flat Rs. 450 (whichever is higher) is applicable to the cash advance transactions made on SBI Corporate Utility card.

SBI Corporate Utility card Eligibility Criteria

Some specific eligibility requirements need to be fulfilled by the applicants to get approved for this credit card. Some of the basic requirements are as follows:

  • The applicant’s age should be between 21 years to 70 years.
  • The applicant should own a business with a stable income.
  • The credit score of the applicant and the business credit score might also play an important role here.

Documents Required

The documents required to apply for the SBI Corporate Utility card are listed below:

  • Identity Proof: Aadhar Card, Voter’s Id, PAN Card, Driving License, or Passport.
  • Address Proof: Utility bills of the latest months, Aadhar Card, Passport, or any other government-approved address proof.
  • As income proof, you may require to submit the latest audited ITR, a business registration certificate, a passport-sized photograph, etc.

How To Apply For The SBI Corporate Utility card?

You can apply for the SSBI Corporate Utility card online as well as offline at your convenience. To apply offline, visit your nearest SBI branch with all the required documents and apply by filling out the physical application form. You can also apply online via the SBI Card’s official website as follows:

  • Visit the SBI Card’s official website.
  • Under the Tab ‘Corporate,’ click on ‘Credit Cards.’
  • Select the SBI Corporate Utility card.
  • Click on apply now and proceed further accordingly.

Conclusion

The SBI Corporate Utility card is a very basic card offered by the SBI Bank. The card offers an instant and flexible way of paying utility bills. The card is beneficial for those organizations that incur lot of Utility bills, as it will save lot of time. The card also offers Consolidated organization level statement along with Individual statements and provide customized MIS and Analytics capability. You can also have a look at other corporate cards offered by the SBI Bank like, SBI Corporate Purchase Card and SBI Signature Corporate Card. That was the review of the SBI Corporate Utility card.

FAQs:

NIL, there is no Annual Fee for the SBI Corporate Utility Credit Card.

No, you would not get any Reward Points or cashback on Utility payments with the SBI Corporate Utility Credit Card.

The SBI Bank Charges up to 3.35% per month (40.2% per annum) from the date of withdrawal.

Write A Comment

Sign up for the Card Insider Weekly Newsletter!

By providing my email address, I agree to cardinsider.com’s  Privacy Policy

Thanks For Subscribing!

Please confirm the email address

Please verify your email address

Add cards to start comparing

Compare Cards