By Bharti Bisht
Updated On May 24, 2024

If you are new to the credit scene and do not have a decent credit history or score, then a lifetime free credit card will be the perfect option for you to get started. SBI Lifetime Free credit cards will not charge any joining or renewal fee from the cardholder and you can avail of its features and benefits without having to pay any money for it.

There are credit cards meant for every category of people, right from high net-worth individuals to newcomers in the credit scene. Super-premium and mid-range cards have a ton of benefits but they have higher joining and renewal charges. Lifetime-free credit cards may not offer as many privileges as the superior variants, but they still offer a decent amount of privileges and benefits.

SBI Lifetime Free Credit Cards Currently, SBI has no lifetime free credit cards in their catalog but they do have some other decent options that are available at a low joining fee and offer value-added privileges. You can even make most of these cards free by getting the spend-based renewal fee waiver or meeting other conditions. Let’s check out the best SBI lifetime free credit cards and other affordable options.
Table of Contents

List of SBI Credit Cards With Joining Fee Under Rs. 500

The following are the top SBI credit cards that you can get for a low joining and annual fee of Rs. 500.

SBI SimplyCLICK credit card

(5/5)

Fees

Joining Fee

Rs. 499 + GST

Renewal Fee

Rs. 499 + GST

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

Amazon Gift Card Worth Rs. 500

One of the top basic shopping cards by SBI, the SimplyCLICK credit card is really popular among new cardholders, especially those who prefer online shopping. You earn up to 10x reward points on popular merchants like BookMyShow, Dineout, Apollo 24×7, Cleartrip, Lenskart, and Netmeds. Available at a low joining fee of Rs. 500, the card even provides 5x RPs online and 1 RP on offline spends, per Rs. 100.

  • Rs. 500 worth of gift vouchers from Amazon as a welcome bonus
  • Rs. 2000 worth of Cleartrip gift vouchers on spending Rs. 1 Lakh and Rs. 2 Lakhs each
  • Up to 10x RPs per Rs. 100 spent on online merchants like BookMyShow, Dineout, Apollo 24×7, Cleartrip, Lenskart, etc.
  • Up to 5x RPs per Rs. 100 spent online and 1 RP on offline spends, except fuel
  • 1% fuel surcharge waiver and spend-based renewal fee waiver
SBI SimplySAVE RuPay Credit Card

(4.6/5)

Fees

Joining Fee

Rs. 499 + GST

Renewal Fee

Rs. 499 + GST

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

Receive 2,000 Reward Points on the expenditure of the same amount within the first 60 days of card issuance.

The SimplySAVE credit card by SBI offers 2000 bonus reward points as a welcome benefit and is available at a nominal Rs. 500 joining fee. On departmental store, movies, and grocery spends, you can earn accelerated reward points and this makes the card popular among new cardholders who want to get rewarded for their daily spends. It does not have premium travel, entertainment, or dining benefits, but is ideal for people new to credit.

  • 2000 bonus RPs as a welcome benefit on spending Rs. 2000 or more in 60 days of getting the card
  • 1 RP per Rs. 150 spent
  • Up to 10 RPs per Rs. 150 spent on grocery, movies, and departmental stores
  • 1% fuel surcharge waiver and spend-based renewal fee waiver
SBI Lifetime Free Credit Cards

(4.6/5)

Fees

Joining Fee

Rs. 499 + GST

Renewal Fee

Rs. 499 + GST

Best Suited For

Fuel

Reward Type

Reward Points

Welcome Benefits

2,000 Activation Bonus Reward Points worth Rs.500 on payment of joining fee (credited after 20 days of the payment of joining fee).

A fuel credit card in collaboration with BPCL and SBI, this is an entry-level card that charges Rs. 500 as joining fees. You can earn up to 4.25% value back on your fuel spends at BPCL stations. Apart from fuel, you get 5x reward points on your grocery, dining, movies, and departmental store spends. As this is a fuel credit card, you don’t get many privileges across other categories.

  • Bonus 2000 RPs on paying the joining fee
  • 1 RP per Rs. 100 spent
  • 5 RPs per Rs. 100 spent on grocery, dining, movies, and departmental store
  • 13 RPs per Rs. 100 spent on BPCL fuel outlets
  • 1% fuel surcharge waiver and spend-based renewal fee waiver
IRCTC Rupay SBI Credit Card

(3.8/5)

Fees

Joining Fee

Rs. 500 + GST

Renewal Fee

Rs. 300 + GST

Best Suited For

Travel

Reward Type

Reward Points

Welcome Benefits

You get 350 reward points on a minimum transaction of Rs. 500 within 45 days after receiving the card. You also get Rs 100 cashback on your first ATM withdrawal within 30 days of card issuance.

A co-branded credit card by SBI and IRCTC, this IRCTC RuPay card has a low Rs. 500 joining fee and is the ideal choice for regular train commuters. Apart from a generous welcome benefit, cardholders earn 1 reward point per Rs. 125 spent with the card on retail and IRCTC website railway ticket booking transactions. Frequent travelers can also enjoy complimentary railway lounge access and exclusive accommodation at more than 5000 top hotels in our country.

  • 1 RP per Rs. 125 spent on retail and IRCTC website or mobile app train ticket booking
  • Bonus 350 RPs as a welcome benefit on a single transaction of more than Rs. 500 within 45 days of getting the card
  • Up to 10% as value back on purchasing AC1, AC2, AC3, or AC Chair Car tickets via the IRCTC mobile application or website.
  • 4 Complimentary railway lounge access every year, maximum 1 per quarter
  • Book train tickets through the IRCTC website and get a 1% waiver on transaction charges

Benefits of SBI Lifetime Free Credit Cards

The following are the benefits provided by SBI lifetime free and other low joining fee credit cards –

  • First and foremost, these cards do not charge any joining or annual fees from the customers.
  • You have to go through a simple and convenient process to apply for these cards. Make sure you meet the eligibility criteria and provide the required documents when applying for the card.
  • Other mid-range and premium credit cards are meant for high-net-worth individuals and lifetime free cards cannot compete with those cards. However, lifetime free cards still offer many exciting deals and discounts for customers.
  • You can enjoy benefits across travel, entertainment, lifestyle, shopping, movies, dining, etc. with the cards.
  • You can use the card to improve your credit score and build a decent credit history and profile.
  • The reward rate on these cards is impressive and you can redeem your points against a host of products or vouchers, against card statement balance, transfer to Airmiles, and more easily.
  • You can perform multiple tasks with these credit cards and it is easy to upgrade to better, premium cards in the future.

Eligibility Criteria and Documents Required

You must meet the following eligibility criteria to apply for lifetime free credit cards and you must provide the necessary documents as well along with your application –

  • The applicant must be between 21 to 70 years of age.
  • The applicant must be an Indian citizen.
  • The applicant must have a decent credit score
  • The applicant should be self-employed or salaried with a stable source of income.

The following documents must be provided when applying for lifetime free and other credit cards –

ID Proof – Aadhar Card, PAN Card, Driver’s License, Passport, etc.

Address Proof – Aadhar Card, Rent Agreement, Ration Card, Passport, Latest Utility Bills, etc.

Income Proof – Salaried individuals need to provide the latest 2 months’ salary slips and bank statements. Self-employed individuals need to provide their audited ITR of the previous year.

Credit Cards Comparison

In the following table, we will compare some of the best and most popular SBI lifetime free and some other affordable, low joining fee credit cards.

Category SBI SimplySAVE Credit Card BPCL SBI Credit Card
Joining/Annual Fees Rs. 500 + GST Rs. 499 + GST
Welcome Benefit 2000 Reward Points 2,000 Activation Bonus Reward Points
Reward Earning 1 Reward Point for Rs. 150 spent. 10X RPs for spends made in movies, grocery, dining, & departmental stores. 13X for Fuel Spends and 5X for Dining, Movies and Grocery Spends
Reward Redemption Redeem points earned for gift vouchers on sbicard.com or the SBI mobile app. Also, for paying the card’s outstanding balance. (1 Reward Point = Rs. 0.25) Reward Points are redeemable against gift vouchers on sbicard.com or the SBI mobile app, for purchases at BPCL petrol stations, and against cash (card’s statement balance).
Travel Benefits N/A N/A
Spend-Based Waiver Renewal fee can be waived on spending Rs. 1 Lakh or above in the last year Renewal fee can be waived on spending Rs. 50,000

How to Apply for SBI Lifetime Free Credit Cards

Follow these steps to apply for SBI lifetime free and other credit cards –

  • Click on Apply Now.
  • Fill out the given form with some basic details of yours.
  • Submit your application for approval.
  • Once approved your card shall be delivered to your selected address.

Bottom Line

Generally, a lifetime free card does not charge any annual, renewal, or joining fees from the cardholder and SBI lifetime free credit cards are some of the best ones in this category. LTF cards do not provide elite-level benefits and privileges like some super-premium and mid-range cards, but they are still quite advantageous for cardholders.

SBI Credit Cards are great for young professionals who are new to the credit scene. They do not make extensive use of the card and use it responsibly to improve their credit history and credit score. People can use these lifetime free credit cards to get a decent credit score and build a good credit profile so they can apply for better, premium credit cards and loans in the future.

In the above article, we talked about the best SBI lifetime free credit cards and some other affordable, budget-friendly cards offered by the bank. Let us know if you plan on applying for any of these credit cards or your experience of using one, in the comments section below.

FAQs:

No, SBI offers no credit cards that are lifetime free i.e. those without any joining or annual charges. It does offer entry-level credit cards with annual and joining fees of Rs. 500 which can be made lifetime-free while achieving the required spends.
There are no joining fees or renewal fees associated with any SBI Lifetime Free Credit Cards. These cards are available free of cost for customers and are ideal for those who want to build a nice credit profile and score. You should certainly opt for these cards if you do not require a heavy amount of benefits and privileges.
Even though SBI has many super-premium and mid-range credit cards that charge a high joining fee, you can also find some decent credit cards by SBI that are affordable and have joining fees of Rs. 500 or lower. Most of these cards come with a spend-based annual fee waiver and you can make the card free by reaching the target spend amount in the card anniversary year.
Here are the top affordable SBI credit cards that have a joining fee of Rs. 500 or lesser than that – SBI SimplyCLICK Credit Card, SBI SimplySAVE Credit Card, BPCL SBI Credit Card, IRCTC RuPay SBI Credit Card, and Reliance SBI Card. You can opt for any of the above cards that suit your financial needs and requirements.