State Bank of India, the largest banking institution in the country, offers a host of credit cards with several benefits. SBI Cards cater to the middle-income group as well as those who have extravagant spending habits. The eligibility criteria for SBI credit cards are based on what credit card you want to apply for. However, there are a few conditions that are required to be fulfilled at the time of SBI Credit Card application, be it a low cost card or an extravagant one.

Let’s talk about these eligibility criteria in some detail-

Age of the Applicant

To be eligible for any SBI credit card, the applicant should be at least 18 years old. The maximum age has been fixed at 60 years. People who do not fall within the minimum and maximum age limit are not considered eligible mainly because the bank does not want to take risk by providing them a credit line. For example, minors (below 18 years) would not have any source of income and hence they will be denied a credit card. Similarly, people above 60 years of age have mostly retired and do not have fixed income, making them a greater risk for the bank.

Income of the Applicant

The income criteria for credit card applicants differ on the basis of the SBI credit card that they have applied for. For low-cost or no-cost cards, the income requirement may be lower as compared to the cards that make you a member of SBI’s elite group. A few low-cost cards by SBI are SBI SimplySAVE, SBI SimplyCLICK, STYLEUP Contactless Card, IRCTC SBI Platinum Card, Yatra SBI Card and Mumbai Metro SBI Card. On the other hand, high-cost cards with greater benefits include SBI Card Prime, SBI Card Elite, Air India SBI Signature Card, Air India SBI Platinum Card and the Advantage range of SBI Credit Cards. If you wish to know the specific income criteria for different cards, you can reach out to SBI Credit Card customer care through their helpline or email.

Credit Score of the Applicant

Another important factor that SBI will consider at the time of issuing a credit card is the credit score of the applicant. If you have a good credit score, the chances of getting approved for a credit card are higher. Additionally, the banks will also be ready to give you a higher limit as compared to an applicant who has a lower credit score. Those who do not have any credit history can also apply for SBI credit card but they are more likely to get a lower credit limit after a thorough verification.

Documentation Requirements

This is one criterion that you will have to fulfil at any bank. Documentation formalities must be duly fulfilled in order to be eligible for SBI credit cards. The bank will ask for your identity proof, address proof and income proof. The following documents can be used for the above three purposes-

A. Identity Proof

2.PAN Card
3.Aadhaar Card
4.Driving License
5.Voter ID Card
6.Government/Defence ID Card
7.ID Card of reputed employers
8.Photo ID Cards issued by Post Offices
9.Commission (UGC) and/or an Institute approved by All India Council for Technical Education (AICTE)
10.Photo identity Cards issued to bonafide students by a University, approved by the University Grants
11.Pension Payment Orders issued to the retired employees by Central/State Government Departments, Public Sector Undertakings, etc.

B. Address Proof

2.Ration Card
3.Income/Wealth Tax Assessment Order
4.Electricity Bill- not more than 6 months old
5.Landline Telephone Bill - not more than 3 months old
6.Credit Card Statement- not more than 3 months old
7.Bank account statement
8.Letter from reputed employer
9.Letter from any recognized public authority having proper and verifiable record of issuance of such certificates
10.Ration Card
11.Voter ID Card (only if it contains the current address)
12.Sector Undertakings, if they contain current address.
13.Copies of Registered Leave & License agreement/Sale Deed/Lease Agreement may be accepted as proof of address

C. Proof of Income

1.Appointment Letter
2.Audited Balance Sheet and Profit and Loss Account (For Self-employed)
3.Employer Certificate
4.Form 16
5.Income Tax Returns
6.Salary Slip

The bank’s representative may also require you to present original documents for one time verification.

You can apply for SBI credit card if you meet all the conditions given above.

Author's Bio: 

Puneet Sharma works as a guest lecturer in Delhi. He holds a B.Tech & MBA Degree from the UPTU. With extensive knowledge and experience in various financial products, he also works as a consultant in banking & finance domains wherein he offers advice to his clients in managing personal finance.