OLA Money SBI Credit Card

SBI OLA Money Credit Card Rewards

• You get 1% reward points on all your spending.
• You get 7% reward points every time you ride with an OLA. Capped at 500 Reward Points per month.

Rewards Redemption

• The reward points you earn through your SBI OLA Money credit card are automatically credited to your OLA money wallet.
• 1 Reward Point = Re. 1.

OLA Money SBI Card Features and Benefits

As suggested by its name, the Ola Money SBI Card is a co-branded card that is best suited for people who frequently take Ola rides. However, the card offers a lot of other features and benefits, which are mentioned below in this article:

Joining and Renewal Fee Waiver

The renewal fee of ₹499 is waived if you spend ₹1 lakh or more in the previous year.

Fuel Surcharge Waiver

You get a 1% fuel surcharge waiver on all your fuel transactions using your credit card. You get a maximum of up to ₹100 per statement cycle.

How To Activate Your OLA Money Wallet

You will have to activate it to receive your earned points in your OLA Money wallet. The Ola Money wallet can be activated using the below-mentioned steps:

• Complete your KYC by uploading your documents and then complete the physical verification process.
• After KYC, open the Ola app.
• Go to the Ola money section.
• Click on the wallet and add money option.
• Click the option ‘Activate your account.’
• You will need to enter your PAN number for final verification.
• Your account will be activated, and you can use it.

OLA Money SBI Credit Card Fees and Charges

The Ola Money Credit Card comes with several fees and charges associated with it, of which some of the most important ones are as follows:

• The Ola Money SBI Card comes with a zero joining fee and an annual fee of Rs. 499, which is waived if the cardholder has spent Rs. 1 lakh or more in the previous year.
• The interest rate on this card can be up to 3.5% per month.
• The cash advance fee on the SBI Ola Money Credit Card is 2.5% of the withdrawn amount, subject to a minimum of Rs. 500.
• The foreign currency markup fee of this credit card is 3.5% of the total transaction amount.

Eligibility Criteria Of Ola Money SBI Credit Card

The reliability requirements that the applicants need to fulfill in order to get approved for the Ola Money SBI Card are as follows:

• The age of salaried individuals must be between 18 years and 65 years.
• The age of self-employed people should be between 21 years and 60 years.
• The applicant should have a stable source of income.

Documents Required

You will also need a few documents to apply for this credit card. The list of required documents is given below:

• Identity Proof: Aadhaar Card, PAN Card, Voter ID, Passport, Driving Licence, etc.
• Address Proof: Passport, utility bills, voter ID, Aadhar card, driving licence, rent agreement, municipal or property tax receipt, and house allotment letter issued by the central or state government.
• Income Proof: For self-employed individuals – Later ITR (Income Tax Return) / Form 16. For salaried employees – salary slip of the latest months.

How to Apply for an OLA Money SBI Card?

If you want to apply for the SBI OLA Money Credit Card, you can do it online or offline at your convenience. To apply offline, you will have to visit your nearest SBI branch with all the required documents and fill in the physical application form there. If you wish to apply online, you can do it using the following steps:

• Click on the option ‘Apply Now.’
• Fill in all the required details carefully and click on Submit.

OLA Money SBI Credit Card Limit

The credit limit that is offered to the Ola Money SBI Cardholders has not been disclosed by the card issuer as the limit can be different for everyone. An individual with a higher income & a good credit score is likely to get a higher credit limit as compared to a cardholder with an average income and credit score. Other than this, there might be a few more factors determining your credit limit.

OLA Money SBI Credit Card Review

If you are a frequent OLA rider, the OLA Money SBI credit card would be the best choice for you. With a zero joining fee and a nominal renewal fee, the card provides its customers with an amazing opportunity to save in an incredible manner on most of their spending. Axis Bank also offers a general cashback card named Axis Bank Ace Credit Card, which is not co-branded but earns you a decent cashback on your Ola rides. If you are looking for a credit card that would allow you to save on almost all your spending, you can definitely go with this card.

This was our review of the OLA Money SBI Card. Please let us know your thoughts about this card in the comment section below!