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Contributor‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.
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Divyam Reddy had always wanted to study overseas, but handling money was difficult. The prices were prohibitive, ranging from everyday necessities to university fees. At that point, the credit card from Karnataka Bank, which offers flexible EMI plans, emergency cash withdrawal options, and worldwide acceptance, became his reliable companion.
One of the most significant advantages was the convert-to-EMI option, which enabled him to purchase a powerful laptop valued at ₹1,50,000. He changed it from an upfront payment to a 12-month EMI with an annual interest of 13%.
Loan Amount (P): ₹1,50,000
Amount Interest Rate: 13% (or 1.083% per month).
Tenure: 12 months
Total Amount Paid: ₹1,60,776
Extra Interest Paid: ₹10,776
Additionally, he used his Karnataka Bank credit card for travel and living expenses, earning reward points that helped him get discounts on flight tickets.
Thanks to this financial flexibility, Divyam completed his education smoothly. Today, with a successful career
Karnataka Bank, in collaboration with SBI Card, offers co-branded credit cards made to improve your shopping and travel experiences. These cards come in two variants:
Karnataka Bank SimplySAVE SBI Card: Designed for everyday use, this card provides rewards on regular spending.
Auto Bill Pay: Set up standing instructions for automatic payment of utility bills, ensuring timely payments without manual intervention.
E-Smart Facility: Access instant account summaries and usage details through e-statements delivered directly to your registered email, eliminating postal delays.
For more details or to apply, visit the Karnataka Bank credit cards page.
Here are the features of the Karnataka Bank SBI Card PRIME to consider:
Milestone Benefits: Get an e-gift voucher worth ₹7,000 annually on reaching an annual spend of ₹5 lakh.
Priority Pass Membership: Complementary Priority Pass membership with $99 for privileged access to international airport lounges.
Insurance Coverage:
Fraud liability cover of ₹1 lakh.
EMI Facility: Convert high-value purchases into easy EMIs for better financial management.
For more details, visit the official Karnataka Bank Credit Card.
Welcome Gift: Receive an e-gift voucher worth ₹3,000 upon payment of the annual fee.
Reward Points:
Earn 2 reward points per ₹100 on all other retail spends.
Milestone Benefits:
E-gift voucher worth ₹7,000 from Yatra.com or Pantaloons on achieving annual retail spends of ₹5 lakh.
Annual Fee Waiver: The renewal fee of ₹2,999 is waived on spending ₹3 lakh or more in the previous year.
Reward Points:
Earn 1 reward point per ₹150 spent on all other categories.
Annual Fee Waiver: The renewal fee of ₹499 is waived on spending ₹1 lakh or more in the previous year.
For more detailed information and to apply, visit the Karnataka Bank credit cards page.
Fee/Charge | Karnataka Bank SBI Card PRIME | Karnataka Bank SimplySAVE SBI Card | Example |
|---|---|---|---|
Annual Fee (First Year) | ₹2,999 | ₹499 | If you apply for SBI Card PRIME, the first-year fee will be ₹2,999, and for SimplySAVE, it's ₹499. |
Outstanding Balance > ₹50,000: ₹1,300 late fee.
For instance, if you miss a payment and your outstanding balance is ₹12,000, the late fee would be ₹950 (as it falls between ₹10,001 and ₹25,000).
Here are the pros and cons of the Karnataka Bank Credit Card to consider for making a better choice:
Pros:
Additional Benefits: Cardholders can enjoy perks such as fuel surcharge waivers, cashback offers, and milestone benefits, enhancing the overall value proposition.
Cons:
Limited Bank Presence: While Karnataka Bank has a strong presence in certain regions, its branch network is not as extensive nationwide, which might affect in-person customer service accessibility.
Eligibility Criteria | Details |
Age | Between 21 and 65 years old |
Income | Stable income is required, with specific minimum levels varying based on the chosen credit card |
Credit Score
A good credit history is required. A credit score above 750 increases the likelihood of approval
Documentation
Proof of identity, address, and income required
Prior Relationship
Not mandatory, but existing customers may have a smoother application process
Note
₹2,999 |
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₹499 |
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If your annual spending exceeds ₹3 lakh (PRIME) or ₹1 lakh (Simply SAVE), the renewal fee is waived. |
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Finance Charges (Interest Rate) | 3.35% per month (40.2% per annum) | 3.35% per month (40.2% per annum) | If you carry an outstanding balance of ₹10,000 for a month, the interest would be ₹335 (₹10,000 × 3.35%). |
|---|
Cash Advance Fee | 2.5% of transactions or ₹500 | 2.5% of transactions, or ₹500 | If you withdraw ₹5,000 in cash, the fee will be ₹500 (since 2.5% of ₹5,000 = ₹125, but ₹500 is the minimum). |
|---|
Late Payment Charges | See details below | See details below | Example: If you have ₹15,000 as an outstanding balance, the late fee would be ₹950 (as it falls in the ₹10,001 to ₹25,000 range). |
|---|
Overlimit Fee | 2.5% of over limit amount or ₹600 | 2.5% of over limit amount or ₹600 | If you exceed your credit limit by ₹5,000, the overlimit fee would be ₹600 (since 2.5% of ₹5,000 = ₹125, but ₹600 is the minimum). |
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Foreign Currency Transaction Fee | 3.5% of transaction amount | 3.5% of transaction amount | If you make a purchase of ₹10,000 in foreign currency, the fee will be ₹350 (3.5% of ₹10,000). |
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Card Replacement Fee | ₹100 | ₹100 | If you lose your card and need a replacement, the fee is ₹100 for both cards. |
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Cheque/Auto-Debit Return Fee | 2% of the payment amount or ₹500 | 2% of the payment amount or ₹500 | If your payment of ₹5,000 is returned, the fee will be ₹500 (since 2% of ₹5,000 = ₹100, but ₹500 is the minimum). |
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*T&C Apply
To apply for a Karnataka Bank credit card, you need to provide the following documents:
Document Type | Required Documents |
Proof of Identity | Any one of the following: - Aadhaar Card - PAN Card - Driving Licence - Voter ID Card - Passport |
Proof of Address | Any one of the following: - Electricity Bill - Ration Card - Passport - Driving Licence - Telephone Bill - Bank Statement (last 2 months) - Voter ID Card |
Proof of Income | Any one of the following: - Latest Salary Slip - Form 16 - Income Tax Return (ITR) Documents |
Additional Documents | - Recent passport-sized photograph - Permanent Account Number (PAN) Card |
Here is a step-by-step guide for you to follow to apply for Karnataka Bank Credit card:
Step 1: Click on the link to access Karnataka Bank Prime SBI Credit Card.
Step 2: Click on Apply Now.
Step 3: You will be redirected to a new page and here you will have to enter the details.
Step 4: Enter your name, your mobile number, enter your email ID, Interested product/service, and Type your message. Click on Apply now at the bottom.
Step 1: Click on the link to access the page Karnataka Bank Prime SBI Credit Card.
Step 2: Click on the Apply now option.
Step 3: You will be redirected to a new page and here you will have to enter the details.
Step 4: Enter your name, your mobile number, your email ID, Interested product/service, and Type your message. Click on Apply now at the bottom.
You can contact Karnataka Bank customer service using the following methods if you have questions or need help with your credit card:
Customer Care Numbers:
Alternate Number: 080-2202 1500
These lines are available between 10:00 a.m. and 5:00 p.m. IST.
Email Support:
For written correspondence, you can email your queries or concerns to:
Credit Card Specific Inquiries: card@ktkbank.com
Reporting Lost or Stolen Cards:
In case your credit card is lost or stolen, it's crucial to report it immediately. You can do so by calling the customer care numbers mentioned above. Additionally, if you're a registered SMS banking user, you can block your card by sending an SMS:
Type BLOCK [last 4 digits of your card] and send it to 5676791.
International Helpline:
For customers travelling abroad or residing overseas, Karnataka Bank offers assistance through its international division. You can reach out via:
Please note that international call charges may apply.
Grievance Redressal:
If your concerns are not addressed satisfactorily through customer care, you can escalate the issue by contacting the branch head of your home branch. For further escalation, refer to the grievance redressal mechanism provided on the official Karnataka Bank website.
Karnataka Bank and SBI Card have partnered to offer co-branded credit cards that are intended to improve your financial experience. Rewards programs, worldwide acceptance, and extra benefits like fuel surcharge waivers and milestone benefits are just a few of the advantages that these cards offer. To make sure they fit with your financial objectives, it's crucial to take into account related charges, such as interest rates and annual fees.
Q. What is the annual fee for this card?
Spending more than ₹3,00,000 in the previous year can result in an annual charge of ₹2,999 plus taxes being waived.
Q. What should I do if my credit card is lost or stolen?
To guarantee the security of your account, you should notify Karnataka Bank right away if your debit or credit card is lost or stolen. You can email a detailed description of the incident to info@ktkbank.com. You can also reach us by phone at 1800 425 1444 or 1800 572 8031, which are our toll-free client numbers. Reporting issues as soon as possible is essential to protecting your account and stopping any illegal transactions.
Q. Can I use my credit card at any ATM?
The majority of ATMs do accept credit cards for cash advances. However, keep in mind that cash advances usually have hefty fees and interest rates that start to accrue right away and don't have a grace period.
Q. How does SMS banking work with credit cards?
Credit card SMS banking operates by notifying you via text of your transactions. These alerts, which assist you in monitoring your spending and card security, may include reminders for purchases, payments, and approaching credit limits.
Other Credit Cards | ||||
