PSB SBI Card SimplySAVE Review: Fees, Rewards and How to Apply
At a Glance
| Joining Fee | ₹499 + GST (₹589 all-in) |
| Annual Fee | ₹499 + GST. Renewal fee reversed on annual spends of ₹1,00,000 |
| Best Suited For | Everyday household spending on groceries, dining and movies |
| Issued through | Punjab & Sind Bank branches, not online |
This is the SBI Card SimplySAVE issued in partnership with Punjab & Sind Bank. The product itself is SBI’s, and the fees, reward rates and benefits are identical to the SimplySAVE cards distributed by SBI’s other partner banks.
What changes is the route in: Punjab & Sind Bank is a public sector bank headquartered in New Delhi, with its historic strength across Punjab and the north, and the card is available through its branches rather than online.
That makes it a card for Punjab & Sind Bank account holders, mainly across north India rather than something you can compare and apply for on a website. Everything below is taken from SBI Card’s own published record for this card.
Rewards & Benefits
Reward rate and earn structure
| Spend category | Earn rate | Cap |
|---|---|---|
| Dining, movies, departmental stores and grocery | 10 Reward Points per ₹150 | None published |
| All other spends | 1 Reward Point per ₹150 | None published |
Redemption and what a point is worth
Four Reward Points equal ₹1. The accelerated categories therefore return about 1.67% back and everything else about 0.17%.
Points can be used to pay down your card outstanding directly, which is the cleanest redemption and holds that rate firmly. Note the ₹150 denominator rather than the ₹100 most cards use: a ₹140 grocery bill earns nothing at all, so small transactions leak value.
Welcome and milestone benefits
| Benefit | Requirement |
|---|---|
| 2,000 bonus Reward Points, worth ₹500 | Spend ₹2,000 or more within the first 60 days |
The welcome points are worth ₹500 against an all in cost of ₹589, and the ₹2,000 spend condition is trivial to meet. Year one is effectively free.
Fees & Charges
| Joining fee | ₹499 + GST |
| All-in first year cost | ₹589 |
| Renewal fee, per annum | ₹499 + GST from the second year |
| Spend based reversal | Renewal fee reversed on annual spends of ₹1,00,000 |
| Add-on card fee, per annum | Nil |
| Fuel surcharge waiver | 1% on ₹500 to ₹3,000, max ₹100 per statement cycle |
GST of 18% applies on top of the stated fee, which is why the real first year cost is ₹589 rather than ₹499.
Reaching the reversal threshold removes the fee entirely, so work out whether your ordinary annual spending clears it before treating the fee as a real cost. SBI also notes that this is a co-branded product and that fee and revenue sharing may exist between SBI Card and Punjab & Sind Bank.
The thing that catches people out is the ₹150 rounding. Rewards are calculated per ₹150 spent, not per ₹100, and the remainder is discarded rather than carried forward.
A month of ₹40 chai bills and ₹120 grocery top ups can earn literally nothing. Use the card for larger transactions and pay small ones another way.
Eligibility & Documents Required
SBI does not publish an income floor, age band or credit score cut-off for this card. It is not offered for online application: SBI’s own page directs applicants to visit their nearest Punjab & Sind Bank branch. In practice that means a Punjab & Sind Bank relationship is the realistic route in.
Keep ready your PAN, proof of identity, proof of current address, and either recent salary slips or the last two years of income tax returns if you are self-employed. Approval and the credit limit are decided by SBI Card on your income and credit profile.
Pros & Cons
| Pros | Cons |
|---|---|
| Fee reversed at just ₹1 lakh of annual spend | No airport lounge access at all |
| 10X points across four everyday categories | Rewards are calculated per ₹150, not per ₹100 |
| Welcome points worth ₹500 against a ₹589 fee | Base rate of 0.17% is very weak |
| Points pay down your card bill at 4 to ₹1 | Fuel waiver capped at ₹100 and ₹3,000 per transaction |
PSB SBI Card SimplySAVE vs Competitors
| Card | Annual fee | Key difference |
|---|---|---|
| PSB SBI Card SimplySAVE | ₹499 | Issued through Punjab & Sind Bank branches |
| SBI Card PULSE | Charged annually | Available directly from SBI Card, online |
| SBI SimplySAVE | Charged annually | SBI’s own entry card, no partner bank needed |
The comparison that matters is not against SBI’s other partner banks, since those cards are identical to this one.
It is against the cards SBI issues directly, which you can apply for online and compare openly. Take this version only if you already bank with Punjab & Sind Bank and find the branch route convenient.
How to Apply
SBI Card’s own page for this card answers the application question plainly: visit your nearest Punjab & Sind Bank branch.
There is no online application route, so the button on this page opens the product page for reference rather than an application form.
Speak to your Punjab & Sind Bank relationship manager or branch staff, and have your identity, address and income documents with you. If you would rather apply online, look at the equivalent card issued directly by SBI Card instead.
Frequently Asked Questions
Is the PSB SBI Card SimplySAVE annual fee waived?
Renewal fee reversed on annual spends of ₹1,00,000. The fee is ₹499 + GST, which is ₹589 all in.
How do I apply for this card?
Through a Punjab & Sind Bank branch. SBI Card does not offer this product for online application, and its own page directs applicants to the nearest Punjab & Sind Bank branch.
Is this card different from the same SBI card offered by other banks?
No. The fees, reward rates, caps and benefits are identical across every partner bank version of the SBI Card SimplySAVE. Only the issuing branch network and the card face differ.
What is a Reward Point worth on this card?
Four Reward Points equal ₹1. The most dependable redemption is against your own card outstanding, which holds that rate.
Does this card give airport lounge access?
No. SBI lists no domestic or international lounge visits on this card.
What is the fuel surcharge waiver?
A 1% waiver, on transactions of ₹500 to ₹3,000, capped at ₹100 per statement cycle.
Bottom Line
A household clearing ₹1 lakh a year never pays for this card, and the four accelerated categories cover groceries, dining, departmental stores and cinema, which is where most of an ordinary month goes.
If you already bank with Punjab & Sind Bank, the branch route is straightforward and the card is worth having on those terms.
Skip it if you want lounge access or a decent rate outside those four categories, because 0.17% on everything else is close to nothing.
Skip it too if most of your transactions are small, since the ₹150 rounding quietly eats the reward on anything under that amount.
And remember what this card is: an SBI product with a partner bank’s name on it.
If you do not already have a Punjab & Sind Bank relationship, there is no reason to open one for this card, because SBI issues the identical product directly and you can apply for that online in minutes.