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Sbi has launched a new secured(backed by FD) version of credit card for users who are first time credit card holder called Sbi Unnati . Most times they launch a card and name a secured version of it with advantage added to the name. However this card is so different as it’s for secured users only so regular user can’t get it without an FD in SBI bank. This card is to target first time user or the one who can’t get one based a credit card due many other factors Bank would never tell us.
This SBI Unnati card is to promote cashless economy. One can get this card for FD as low as Rs.25000 which would led card issued with credit limit of Rs.20,000.
Best part is free for four years. One can build credit history in mean time and get other cards on basis of this card.
Rs.500 cashback once a year when Rs.50,000 are spent using this card. Thats 1% cashback. For such a basic card it’s indeed a good value.
Fuel surcharge waiver is also a good feature though one won’t earn points on it. Still a handy feature whenever in need.
One reward point worth 25paisa for Rs.100 is very low still cash mention above compensate it.
Verdict SBI Unnati is a good card if:
- you aren’t eligible for credit card or not able to get one for any reason.
- you can deposit minimum Rs.25000 in fixed deposit with sbi(ofcourse it’d earn interest also).
- Your yearly spent is around ₹50000-60000