Thursday, June 13News That Matters

Ola Money SBI Credit Card – Review, Details, Offers, Benefits, Fees, How to Apply

Ola Money has partnered with SBI Credit Cards to launch “Ola Money SBI Credit Card”. It offeres exciting cashback on Ola rides,  flight and hotel bookings, restaurants and general purchases. There is no joining fee or fee for the first year. The 2nd year fee of Rs 499 is waived off on annual spend over Rs 1 lakh. 

The card is powered by VISA and the team is currently targeting to issue 10 million Ola Money-SBI Credit Cards by 2022.

Recently, Paytm has also launched “Paytm First Credit Card” with Citibank that is offering flat 1% cashback on all purchases. Read details.


Ola Money SBI Credit card Benefits

Early Bird Offer (apply before 30 June 2019)

  • Rs 500 as Ola Money  (credit after first transaction)
  • Rs 300 Cleartrip voucher (instant discount on flight booking)
  • 1+1 on food, drinks and buffet  (valid for 3 months only via Dineout)


CashBack Offers

  • 7% cashback on Ola Rides  (cashback capped at ₹500 per month)
  • 5% back on all flight bookings at Cleartrip
  • 20% back on all domestic hotel booking via Cleartrip
  • 6 %  cashback on international hotel bookings.
  • 20% cashback on restaurant bills via Dineout (cashback capped at ₹2400 per annum)
  • 1% cashback on all other purchases



How will I get the cashback 

  • Credited to your Ola Money wallet within 3 days
  • Redeemable on Ola, Dineout, Cleartrip and 1500+ other merchants


Fuel Surcharge

  • Fuel surcharge waiver


Seamless Application Process

  • 2 minute in-app application process
  • Get instant approval and credit limit


In App Card Management

  • Get alerts and never miss to pay your bill
  • Know your running bill so that your monthly statement is never a surprise
  • In-app support to resolve your queries


How to apply Ola Money SBI Credit Card

  • You can apply within your Ola Money App .
  • There is a landing page on Ola website which has all the details and you can express interest



  • Joining fee  : Rs 0
  • Renewal fee:  Rs 499 ( waived if annual spend is Rs 1 Lakh



This is a good entry level card that offer 1% cashback on all purchases. This card offer excellent benefits if you use Ola Cabs regularly. Note that the cashback is credited to your Ola Money Wallet.  You can also consider looking at the recently launched “Paytm First Credit Card” with Citibank that is offering flat 1% cashback on all purchases. Read details.


Example : Savings  (Note that this is just an example – the max cashback limit is higher)

Expense Assumptions per year (expense) Cashback
Ola Rides Rs 2500 per month 30000 2100
Flight Booking Rs 10000 – 2 times in a year 20000 1000
Hotel booking Rs 2500 – 2 times in a year 5000 1000
Restaurant Rs 1000 – 10 times in a year 10000 2000
Other Purchases Rs 5000 per month 60000 600

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