By Bharti Bisht
Updated On September 10, 2021

The OLA Money SBI credit card is a card issued by the State Bank of India in partnership with OLAMoney. It comes with a zero joining fee and exciting welcome gifts, such as flight vouchers and EaseMyTrip vouchers. This card has a nominal renewal fee of Rs. 499, which can be waived off on spending Rs. 1 lakh or more in the previous year. Moreover, the card gives you 1% Reward Point on all your spends, and 7% Reward Points on Ola rides. These reward points can be redeemed easily as they are automatically credited to your OlaMoney wallet. Other than that, with your OLA Money SBI credit card, you get 5% cashback on flight bookings, 10% cashback on domestic hotel bookings, and 6% cashback on International hotel bookings on booking through Cleartrip. To know all about the OLA Money SBI credit card, its benefits, and fees & charges, refer to the detailed information given below:

Best Suited For

Travel |

Joining Fee

Nil

Reward Type

Reward Points |

Product Details

  • Earn 1% Reward Point on all your spending.
  • Earn 7% Reward Points on all OLA rides.
  • No Joining fee charged
  • 5% cashback on flight bookings.
  • Up to 10% cashback on hotel bookings.
  • A spend-based waiver on the renewal fee is provided.

Rewards and Benefits

Welcome Benefits

You get a flight voucher worth Rs. 300 and an EaseMyTrip voucher worth Rs. 2000.

Movie & Dining

NA

Rewards Rate

1% Reward Points on all spends.

Reward Redemption

The reward points are automatically credited to your OLA money wallet. Here, 1 Reward Point = Rs. 1.

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

NA

Zero Liability Protection

Zero Liability Protection is provided for a lost/stolen card if reported in a timely manner.

Fees & Charges

Joining Fee

Nil

Renewal Fee

Rs. 499

Spend based Waiver

Renewal fee waiver on a spend of Rs. 1 lakh or more in the previous year.

Rewards Redemption Fee

Rs. 99

Rewards Redemption Fee

Rs. 99

Foreign Currency Markup

3.5% on all foreign currency spends

Interest Rates

Up to 3.5% per month

Fuel Surcharge

1% fuel surcharge waiver at all fuel stations in India with a maximum surcharge benefit of Rs. 100 in a statement cycle.

Cash Advance Charge

2.5% or Rs. 500 (whichever is higher)

Add-on Card Fee

Nil

OLA Money SBI Credit Card Rewards:

  • You get 1% reward points on all your spending.
  • You get 7% reward points every time you ride with an OLA.

Welcome Benefits

  • You get a flight voucher worth Rs. 300 as a welcome gift.
  • Earn an EaseMyTrip voucher worth Rs. 2000 as another welcome gift by the OLA Money SBI credit card.

Rewards Redemption

  • The reward points you earn through your OLA Money SBi credit card are automatically credited to your OLA money wallet.
  • 1 Reward Point = Re. 1.
  • To activate your OLA money wallet, you’ll have to follow these simple steps:
  1. Complete your KYC by uploading your documents and then complete the physical verification process.
  2. After KYC, open the Ola app.
  3. Go to the Ola money section.
  4. Click on the wallet and add money option.
  5. Click the option ‘Activate your account.’
  6. You will need to enter your PAN number for final verification.
  7. Your account will be activated and you can use it.

Other Benefits

You get exclusive Cleartrip offers that include:

  • 5% cashback on flight tickets when booked through Cleartrip. (for up to Rs. 5000 per transaction and up to Rs. 15,000 per transaction)
  • 10% cashback on domestic hotel bookings done through Cleartrip.
  • 6% cashback on international hotel bookings done through Cleartrip.
  • A cashback of 12% on all the activities booked via Cleartrip.

To avail the offer, follow these steps:

  • Open the Cleartrip mobile app or website.
  • Log in using your mobile number that is registered with the OLA Money SBi credit card.
  • Select the flights/hotels for booking.
  • You must apply coupon code ‘OLACC’ to get the cashback.
  • Pay using your OLA Money SBI credit card

Joining and Renewal Fee Waiver

The renewal fee of Rs. 499 is waived off if you spend Rs. 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 Rs 100 per statement cycle.

Conclusion

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. Not only OLA rides, but this card also gives exclusive cashback offers on flight bookings and domestic as well as international hotel bookings, which gives it a big plus. So, if you are looking for a credit card that would allow you to save on almost all your spending, you can definitely go with the OLA Money SBI credit card.

FAQs:

The reward points you earn are automatically sent to your OLA money wallet. You just need to complete the KYC and activate your account by following some simple steps as mentioned above.

Yes, the renewal fee can be waived off if you spend Rs. 1 lakh or more in the previous year.

No, the OLA Money SBI credit card doesn’t provide any lounge access.

The interest rate on the OLA Money SBI credit card is 3.5% per month.

The maximum fuel surcharge benefit you can get is up to Rs. 100 in a month.

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