Paytm Credit Card Apply Online | Debit Card Limit | Fees and Charges with Paytm SBI Cards | Paytm Credit Card Eligibility
SBI Card has launched two credit card types in collaboration with Paytm: Paytm SBI Card and Paytm SBI Card Select. The former is a low-cost entry-level option that rewards users who shop on Paytm regularly. Users will receive the maximum payback on movies, travel, and Paytm Mall purchases, as well as a flat 1% cashback on all other transactions. Is it worthwhile to purchase these cards? Let’s have a look at these cards and the Paytm Card Limit.
Table of Contents
Major Highlights of Paytm SBI and Paytm SBI Select Credit Cards
|Annual Fee||PaytmSBI Select Credit Card: Rs. 1,499 PaytmSBI Credit Card: Rs. 499|
|Best Suited For||Cashback on movie bookings, travel tickets, etc. via Paytm|
|Cashback Rate||• Cashback of 3% on Paytm Mall, Movies, and Travel (PaytmSBI Card) • Cashback of 5% on Paytm Mall, Movies, and Travel (PaytmSBI Card Select) • 2 percent cashback on all other Paytm App purchases (both cards) • 1% cashback on all other purchases (both cards)|
|Milestone Benefit||On achieving annual retail spending of Rs.1 lakh, you will receive a complimentary Paytm First Membership Voucher.|
|Additional Travel Benefit||NA|
Paytm SBI Card Key Features and Benefits
The following are the distinct features of the PaytmSBI Card:
Users can earn a complimentary Paytm First Membership with incentives of up to Rs.75, 000 after completing their first successful purchase with a PaytmSBI Card.
This membership is available for a period of 12 months after it is activated.
When the complimentary 12-month membership period expires, the buyer must renew the subscription by paying the necessary fees. As a welcome gift, you will receive Rs. 750 in your Paytm Wallet if you have the Select variation of the card.
What Are The Advantages Of Joining Paytm First?
Subscribers to Paytm First Membership might enjoy up to Rs.75, 000 in rewards over the course of a year. The following are some of the cashback deals featured in the plan:
- Cashback of up to Rs.10,000 on utility bill payments, recharges, and travel bookings
- Cashback of up to Rs.5, 000 on Entertainment (Voot Select, Gaana, Zee5, Hungama Music, Storytel, etc.)
- Cashback of up to Rs.15, 000 on travel and hotel bookings (Fab Hotels, Bounce, Zoomcar, etc.)
- Rs.12, 000+ cashback on shopping (Puma, The Man Company, Ferns ‘n’ Petals, Colobar, etc.) Rs.5,000+ cashback on online food delivery & dine-in
- Cashback of up to Rs.10, 000 on Health Essentials (1MG, Apollo, VLCC, etc.)
Offers for Cashback
On every transaction, get up to 5% cashback on all travel, movies, and other services. There is no limit to how many times a person can receive applicable cashback. The following are the specifics:
|1 point= Re.1 Cashback|
|Paytm, Movies, Malland Travel||5% (Paytm Select Variant)|
|Paytm Movies, Mall, and Travel||3% (Regular Variant)|
|All Other Purchases on Paytm App||2% (both cards)|
|Rest of the other Spends across offline and online stores||1% (both cards)|
Milestone Offer Forever
PaytmSBI Card SELECT users can earn a Paytm First Membership Voucher at renewal if they spend Rs.1, 00,000 in a year.
- On reaching a total annual retail purchase of Rs. 4 lakhs, you will receive a Rs. 2,000 gift voucher.
- On reaching a total annual retail purchase of Rs. 6 lakhs, you will receive a Rs. 4,000 gift voucher.
The 1 lakh spending milestone sounds appropriate for a card with a low annual fee. SBI Card’s other cards in the same fee level, such as SBISimplySAVE and SBISimplyCLICK, have the same milestone.
Waiver of Fuel Surcharge
On all transactions between Rs.500 and Rs.3000, cardholders will receive a 1% fuel surcharge waiver. The maximum surcharge waiver per credit card for each statement cycle is Rs.100.
Insurance Against Cybercrime
PaytmSBI cardholders are eligible for an Rs.1, 00,000 insurance cover for financial losses caused by fraudulent credit card use. This is a one-of-a-kind feature for a card in this price range.
- This insurance protects the cardholder from any type of credit card misuse or abuse.
- The term “gross negligence” is not included in the policy.
- Any claim arising from a willful violation of the law would be non-payable.
- This policy only covers chip and pin-based cards.
Fees and Charges with Paytm SBI Cards
Fees and charges for both Paytm SBI Card and Paytm SBI Card Select are listed below.
|Fees / Charges||Amount|
|Joining Fee||PaytmSBI Credit Card: Rs. 499 PaytmSBI Select Credit Card: Rs. 1,499|
|Renewal Fee||PaytmSBI Credit Card: Rs. 499 PaytmSBI Select Credit Card: Rs. 1,499|
|Finance Charges||3.50% per month [42% per annum]|
|Late Payment Charges||Up to Rs. 500: NIL Rs.500 – Rs.1000: Rs.400 Rs.1001 – Rs.10,000: Rs.750 Rs.10,001 – Rs.25,000: Rs.950 Rs.25,001 – Rs.50,000: Rs.1,100 Rs.50,001 and above: Rs.1,300|
Who may Apply for the PaytmSBI Credit Card?
PaytmSBI Card and PaytmSBI Card Select are only available to a select group of Paytm users. To obtain the card, however, the applicant must meet the following requirements:
|Customer Type||Only select Paytm customers|
|Occupation||Both Salaried and Self-Employed|
|Income Requirement||No minimum income requirement|
After submitting your application, use the Paytm app to schedule a KYC verification appointment. Submission of the documents specified below is required:
|Proof of Identity (copy)||Aadhaar card, Overseas Citizen of India Card, PAN Card, Passport, Driver’s License, Voter’s ID, Person of Indian Origin Card, Letters issued by the UIDAI Job card issued by NREGA,|
|Proof of Address (copy)||Aadhaar card, Passport, Person of Indian Origin Card, Utility Bill not more than 3 month’s old, Driver’s License, Ration Card, Property Registration Document, Job card issued by NREGA, Bank Account Statement|
|Other Documents||Passport size photograph|
How Can I Get a Paytm SBI Card?
Paisabazaar does not yet offer the PaytmSBI Card. You can, however, apply for the card via your Paytm app. Follow these steps to apply using the app:
Step 1: Open the Paytm app and log in.
Step 2- Click on ‘Show More’ and scroll down to the ‘Loans and Credit Card’ area, or type ‘Credit Card’ into the Paytm search field.
Step 3- Select the ‘Apply Now’ option to begin the application process.
Other Similar Cashback Credit Cards
|Credit Card||Annual Fees||Comparative Feature|
|Amazon Pay ICICI Bank Credit Card||Nil||Up to 5% cashback on Amazon and 1% flat cashback on all other purchases|
|HDFC Bank Millennia Credit Card||Rs. 1,000||Up to 5% cashback on Amazon, Flipkart, and SmartBuy purchases, and 2.5 percent cash back on all other online purchases.|
|HSBC Cashback Credit Card||Rs. 750||1.5 percent reward on online purchases; 1% cashback on all other purchases|
|Flipkart Axis Bank Card||Rs. 500||Cashback of 5% on Flipkart, Myntra, and 2GUD|
|Axis Ace Credit Card||Rs. 499||Google Pay offers an unlimited 5% reward on bill payments, DTH, and cellphone recharges.|
On a minimum transaction size of Rs. 100, cardholders receive a percentage return in the form of reward points, which are promptly redeemed to the balance of the Paytm Gift Voucher. This Paytm Gift Voucher balance is added to the cardholder’s Paytm Wallet, which is linked to the card’s registered mobile number. The cardholder’s Paytm Gift Voucher balance can be used to make purchases on the Paytm App.
SBI Card sets the credit limit for Paytm SBI Card based on its internal policies. The allotted limit for PaytmSBI Card customers could be anywhere between Rs.10,000 and Rs.10 lakh.
Paytm is presently giving Paytm SBI Card and Paytm SBI Card Select to a limited number of Paytm users due to overwhelming demand. All qualified customers can apply for a credit card through the Paytm app’s credit card area.
After final clearance from SBI Card, the card will be sent within 7 business days.
After 6 months of application rejection, you can reapply for the Paytm SBI Credit Card on the Paytm app.
To apply, you must be at least 21 years old.
There is no requirement for a minimum income. These cards are available to both salaried and self-employed individuals. The applications, however, have been restricted to a limited audience due to overwhelming traffic.
https://paytm.com/ is the official website of Paytm.