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Lakshmi Vilas Bank Credit Card Reward Points

Using credit cards has become quite imminent these days as carrying cash around has gone out of fashion. Why do you need to carry money around if you can just get the job done with a swipe of your credit card? With credit cards being in high demand, a lot of banks are trying to hike up the number of features that they can provide for their card holders. Lakshmi Vilas Bank is one such bank that has associations with State Bank of India and strives to give the customer a great experience and many features while using their credit cards.

Lakshmi Vilas Bank in association with SBI bank provides you with two credit cards: Lakshmi Vilas Bank SBI SimplySAVE Credit Card and Lakshmi Vilas Bank Platinum Credit Card. You can get a lot of privileges and earn credit card reward points while using these credit cards. Credit card reward points are an added bonus while using your credit cards. As you keep using money from your credit card, reward points keep adding up in your account. When you have enough credit points you can redeem them for exciting gifts or gift vouchers.

Lakshmi Vilas Bank SBI SimplySAVE Credit Card Reward Points

Lakshmi Vilas Bank SBI SimplySAVE Credit Card gives you a sense of making your life simpler by spending and saving at ease. In addition to that, it has a Shop and Smile program that rewards you with reward points whenever your credit card is being utilized.

  1. Reward points can be redeemed for exciting gifts and gift vouchers from the reward catalogue. The reward points can also be used to pay your outstanding balance.
  2. For every Rs. 100 spent using your Lakshmi Vilas Bank SBI SimplySAVE Credit Card, you earn 1 reward point.
  3. 2.5% of value back (for every Rs. 100 spent, 10 reward points can be earned) every time you make a purchase at a grocery or a departmental store, using your Lakshmi Vilas Bank SBI SimplySAVE Credit Card. Fuel, cash and balance transfer transactions are not included in the reward points program.
  4. There are two categories in which the reward points conversion can be made:
  5. 1. Normal Category Spends – For instance if you are purchasing for Rs. 60,000, you get 600 reward points.

    Normal Category Spends – For instance if you are purchasing for Rs. 60,000, you get 600 reward points.

    2. Accelerated Category Spends – Purchasing for Rs. 60,000, you get 6000 reward points.

    Reward Points= 10*(60,000/100) =6000, you need to spend Rs. 100 to get 1 reward point and here it gets 10 times its value.

  6. An extravaganza offer is given to earn 2000 reward points on spending Rs. 2000 within 60 days of receiving your Lakshmi Vilas Bank SBI SimplySAVE Credit Card.
  7. A separate Reward Redemption fee of Rs. 99 is to be made which is applicable on every redemption request and the same may be communicated to the cardholder.

Features of Lakshmi Vilas Bank SBI SimplySAVE Credit Card

  1. A cashback of Rs. 100, on first ATM cash withdrawal within 30 days of receiving your Lakshmi Vilas Bank SBI SimplySAVE Credit Card.
  2. There is a 1% fuel surcharge waiver across all petrol pumps in India that make transactions of Rs. 500 to Rs. 3,000.
  3. You can get add-on cards for your parents, spouse or siblings who are above the age of 18.
  4. There is an Easy Bill Pay facility provided by Lakshmi Vilas Bank SBI SimplySAVE Credit Card that helps you pay your electricity, telephone, mobile and other utility bills.
  5. The annual fee and renewal fee are each Rs. 499.
  6. There is also an option of transferring your outstanding balances from other bank’s credit cards to your Lakshmi Vilas Bank SBI SimplySAVE Credit Card and get lower rates of interest.
  7. Information regarding your credit card can be received through SMSs on your mobile phone
  8. Lakshmi Vilas Bank SBI SimplySAVE Credit Card helps you analyse your credit card spends and also your category wise spends in percentage for the last 24 months.

Eligibility Criteria for Lakshmi Vilas Bank SBI SimpleSAVE Credit Card

  1. The card applicant should be an Indian resident.
  2. He or she should not be less than 18 years old nor could they be over 65 years old.
  3. The applicant should not have any history of being a previous loan or credit card defaulter.

Lakshmi Vilas SBI Platinum Credit Card Reward Points

Lakshmi Vilas Bank SBI Platinum Credit Card provides many exciting features to its customers who are always known to be leading luxurious lifestyles.

  1. While dining, making a departmental store purchases or making international spends can earn you up to 5X reward points.
  2. For every Rs. 100 spent using your Lakshmi Vilas Bank SBI Platinum Credit Card, you earn 2 reward points.
  3. You can also use your reward points to pay your Lakshmi Vilas Bank SBI Platinum Credit Card outstanding amount.
  4. A maximum of 40,000 cash points can be earned in 5X category and reward points are not applicable for fuel transactions.
  5. There are Bonus Spend Rewards on achieving annual spends of Rs. 4,00,000 and Rs. 5,00,000.
  6. By achieving annual spends of 4 lakhs and 5 lakhs, you can get e-Gift Vouchers worth Rs. 3000, from anyone of the following brands:
  7. 1. BATA/Hush Puppies

    2. Marks and Spencers

    3. Shoppers Stop

    4. Westside

    5. Yatra.com

Features of Lakshmi Vilas Bank SBI Platinum Credit Card

  1. There is a 1% fuel surcharge waiver across all petrol pumps in India that make transactions of Rs. 500 to Rs. 4,000.
  2. A complimentary membership to priority pass program worth $99 is given to Lakshmi Vilas Bank SBI Platinum Credit Card.
  3. Complimentary lounge access to visa lounges in India and abroad is also a huge benefit.
  4. There is an Easy Bill Pay facility provided by Lakshmi Vilas Bank SBI Platinum Credit Card that helps you pay your electricity, telephone, mobile and other utility bills.
  5. There is also an option of transferring your outstanding balances from other bank’s credit cards to Lakshmi Vilas Bank SBI Platinum Credit Card and get lower rates of interest.
  6. The annual fee and renewal fee are each Rs. 2,999.
  7. Lakshmi Vilas Bank SBI Platinum Credit Card gets your travel experiences on the go with exclusive travel and car rental offers.
  8. You can get up to 75% off at more than 55,000 hotels worldwide with Visa Platinum.
  9. Resort accommodations in Bali, Samui, Cebu, Kenting, Okinawa with your Visa Platinum card.
  10. Get chauffeur-driven or self-drive rentals from Hertz Car Rental Program and save up to 10%.
  11. The offers that are offered by VISA on your Lakshmi Vilas Bank SBI Platinum Credit Card is for a limited period.
  12. Exclusive offers on a wide range of restaurants like 15% off on Best Available Rate (BAR) for the day at Ginger Hotels.

Eligibility Criteria of Lakshmi Vilas Bank SBI Platinum Credit Card

  1. The card applicant should be an Indian resident.
  2. He or she should not be less than 18 years old nor could they be over 65 years old.
  3. The applicant should not have any history of being a previous loan or credit card defaulter.

FAQs: Lakshmi Vilas Bank Credit Card Reward Points

1. Is there a reward redemption fee I would have to pay when I use my Lakshmi Vilas Bank SBI SimplySAVE Credit Card?

There is a reward redemption fee of Rs.99, that is to be paid to redeem your reward points for either gifts or for gift vouchers.

2. How much should I spend to get a reward point when I use my Lakshmi Vilas Bank SBI Platinum Credit Card?

For every Rs. 100 that you spend, you will be awarded with 2 reward points.

3. When do I get Bonus Spend Rewards?

If you make an annual spend of Rs. 4 lakhs and Rs. 5 lakhs on your Lakshmi Vilas Bank SBI Platinum Credit Card then you’ll be getting Bonus Spend Rewards.

4. What are Accelerated Category Spends in relations with Lakshmi Vilas Bank SBI SimplySAVE Credit Card?

For instance, if you spend Rs. 60,000, you will be getting 6000 reward points. The conversion is like,

Reward Points= 10*(60,000/100) =6000, you need to spend Rs. 100 to get 1 reward point and here it gets 10 times its value.

5. What are the e- vouchers that I can get when I redeem my reward points?

You can redeem your reward points for e-vouchers provided by Hush Puppies, BATA, Marks and Spencers, Shoppers Stop, Westside and Yatra.com.

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