Credit cards: Credit card users are supposed to pay an annual fee when joining or obtaining the card and a renewal charge every year. However, there are some cards that waive the joining fee upon spending beyond a threshold.
Here, we list SBI credit cards that levy an annual fee lower than ₹500. Most of them also waive the renewal fee upon spending an amount beyond a threshold.
For example, the renewal fee of ₹250 for Shaurya SBI Card is waived when the cardholder spends ₹50,000 or more in the preceding year. Similarly, the renewal fee of the SimplyCLICK SBI Card is waived when the cardholder spends ₹1 lakh or more.
How to avoid renewal fees
Likewise, the renewal fee of SimplyCLICK Advantage SBI Card can be avoided if the card user spends ₹1 lakh in the preceding year. The same goes for SimplySAVE SBI Card. SBI Card Vyapaar Unnati’s renewal is free for the first four years.
The renewal fee ( ₹499) of Apollo SBI Card is waived upon spending ₹1 lakh. BPCL SBI Card’s renewal fee can be waived if the cardholder spends ₹50,000 in the preceding year, which increases to ₹1 lakh in the case of Delhi Metro SBI Card.
Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.