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
https://om.olacabs.com/credit-app/cc-express-interest
Fees
- Joining fee : Rs 0
- Renewal fee: Rs 499 ( waived if annual spend is Rs 1 Lakh
Summary
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 |
| 6700 |