SBI IOCL Contactless Debit Card (Global / Platinum): Benefits, Eligibility, Charges, and Limits

Planning to apply for an SBI IOCL Debit Card? State Bank of India offers a wide variety of debit card types to its customers. SBI IOCL Contactless card is one of the exceptional debit cards that come with myriad benefits, attractive reward points, and a lot more. 

State Bank of India is one of the most popular public sector banks in the country that provides crucial banking services and financial products to its customers. As part of the banking products, SBI offers a slew of products such as credit cards, debit cards, loans, finance, and much more. SBI IOCL Rupay Card is extremely beneficial for those who travel frequently by their vehicle. 

Every time, when you visit an Indian Oil fuel station and purchase fuel to fill in your vehicle, you earn copious reward points. Want to know more about the SBI IOCL Contactless Debit Card? If so, you can go through this in-depth guide. In this review, we have covered the crucial points regarding the SBI IOCL Debit Card, its significant benefits, annual charges, eligibility guidelines, and more. Have a look!

SBI IOCL Contactless Debit Card

State Bank of India, the largest lender in the nation, and Indian Oil Corporation Limited [IOCL] have collaborated to launch this co-branded contactless Rupay Debit Card. During a virtual ceremony, the Chairman of SBI – Dinesh Kumar Khara, and the Chairman of Indian Oil – Shrikant Madhav Vaidya has jointly rolled out the SBI IOCL Global Contactless Debit Card in 2021.

One can enjoy a bunch of benefits through this debit card. The cardholders can access this debit card while dining, shopping, and spending at grocery stores, paying utility bills, purchasing movie tickets, and more. By spending on the aforementioned goods and other things using this debit card, the cardholders can earn exclusive reward points. This debit card comes integrated with an EMV Chip. Intending to provide fuel benefits to the cardholders, SBI and IOCL’s global contactless Rupay Debit Card has come up with no monthly limit for buying fuel.

SBI and IOCL have launched this SBI IOCL Debit Card in two different variants i.e., global and platinum variants. The major aim of launching the co-branded contactless Rupay Debit Card is to earn exclusive reward points worth 0.75 percent upon purchasing fuel at any of the Indian Oil Corporation Limited retail outlets. People willing to apply for the SBI IOCL Contactless Debit Card need not be an existing SBI customers. Both the existing and new SBI customers can apply for this debit card. 

SBI IOCL Debit Card Benefits

Wondering what are the SBI IOCL Debit Card Benefits? IOCL Contactless Debit Card provides a plethora of benefits to the customers in a variety of ways i.e., in terms of charges, reward points, and more. Check the complete list of SBI IOCL Contactless Debit Card [Global/Platinum]. 

1. Reward Points

• Cardholders can get 6 reward points for every Rs. 200 upon making fuel purchases at various IOCL retail outlets.
• Individuals can earn 2 reward points for every Rs. 200 on making purchases through various online modems, ECom, POS except IOCL.
• Whenever you spend for movies, dining, grocery, utility bill payments, and more using this debit card, you can easily redeem the reward points.

2. Issuance Charges

• SBI doesn’t levy any sort of charges for the issuance of the SBI IOCL Global Contactless Card. 
• Zero charges will be imposed on the cardholders upon the issuance of the debit card.

3. Quick Transactions

• SBI IOCL Contactless Rupay Debit Card comes with a tap and pay technology. 
• Cardholders are permitted to make contactless transactions up to Rs. 5000 at the Near Field Communication terminal. 
• In case, you make a transaction above Rs. 5000, you must enter the debit card PIN.

4. Global Transactions

• The global and platinum debit cards can be accessed to make a variety of international transactions up to Rs. 50000 per month. 

5. Easy Cash Withdrawal at Abroad ATMs

• Both the variants of the debit card can access it for making purchases at shopping stores, dining, restaurants, and cash withdrawal at various ATMs abroad.

6. Validity

• SBI IOCL Global Contactless Debit Card comes with a validity of 5 years from the issuance date of the card.

These are the noteworthy benefits of the SBI IOCL Debit Card. To learn more about the SBI Debit Card types, its benefits, and more, visit MoneyCompass frequently. 

SBI IOCL Contactless Debit Card Limit

SBI IOCL Co-branded contactless debit card provides transaction limit and purchase limit to the cardholders so that the customers can make quick transactions, purchases at various outlets, fuel purchases, and more. Despite providing copious benefits to the customers, the card providers have set a certain limit on the debit card. In the tabular form furnished below, we have mentioned the SBI IOCL Contactless Debit Card Limit on global as well as the platinum variants. Check it out!

SBI IOCL Global / Platinum Debit Card Charges

SBI IOCL Platinum Contactless Debit Card providers impose certain charges on the customers upon issuing it. It includes issuance charges, annual maintenance charges, card replacement charges, and others. Once the SBI officials issue this debit card to the customers, they will be levied an issuance charge. However, it depends on the type of variant of this debit card. Check the tabular form furnished below comprising the SBI IOCL Global Contactless Debit Card Charges. Take a look!

SBI IOCL Debit Card Eligibility

People who wish to apply for the SBI IOCL Platinum Contactless Debit Card must meet certain eligibility conditions as set by the SBI authorities. The eligibility guidelines include whether the applicant is an existing customer of SBI or not, the age of the applicant, and more.

• An individual who wishes to apply for a debit card must have an age ranging between 21 and 60 years.
• Willing people can request the SBI bank branch to acquire an SBI IOCL Global Contactless Debit Card.
• Applicants can either have an existing bank account either a Savings account or a Current account associated with the SBI bank. If the applicant doesn’t have an existing bank account in SBI, they can open a fresh bank account. 
• After deciding on the debit card type, you must submit the relevant proofs such as address proof, and government-accepted identity proof. It includes an Aadhaar Card, Driving License, Voter ID Card, PAN Card, Passport, and more.
• In case, the age of the applicant is less than 21 years then, the parents or guardians of the applicant can apply for the SBI IOCL Debit Card.

How to Apply for SBI IOCL Contactless Debit Card?

The application procedure for the SBI IOCL Contactless Debit card is simple. In this guide, we have shown the online process to apply for the SBI IOCL Platinum debit card. Check the detailed guide presented below in a step-by-step procedure. 

• First of all, visit the SBI official website i.e., onlinesbi.com.
• On the home page of the website, you can find the Login section.
• Click on the button that reads ‘Continue to Login’.
• On the next screen, you need to fill in the vital login credentials such as the username and Password.
• Click on the Login button. 
• After logging into your net banking account, you must go to the tab ‘e-Services’ shown at the top of the screen.
• A plethora of services will be listed in the drop-down menu.
• From the list, you need to pick the option ‘ATM Card Services’.
• On the next screen, you can find a total of 6 different options.
• You can find the option ‘Request ATM/Debit Card’. Just click on it.
• On the next page, you will be prompted to select the primary account.
• Select the card category and enter your name in the below field.
• Select the type of card from the drop-down list i.e., Master/Visa Card.
• Tick the checkbox to accept all the terms and conditions.
• Click on the Submit button.
• The preview of all your account details, card details, and type of card will be shown on the screen.
• Select the delivery address at which the SBI IOCL Global Contactless Card will be sent i.e., registered address or new address.
• If you want to give a new residential address, you need to fill in the new address details.
• Click on the submit button.
• On the next page, you need to select an option to validate i.e., using OTP or using a profile password.
• Select your desired option depending on the accessibility. If you have a registered mobile number with SBI officials, you can select the OTP option.
• Your registered mobile number will be received OTP. Enter the same in the given field. Click on the Submit button.
• On the next screen, you can find a message that reads ‘Congratulations, your card request has been recorded. You will receive your Debit Card within 7-8 working days.’
• You can then start accessing this debit card for various purchases, making bill payments, cash transactions at ATMs, and more. However, this card comes with a validity of 5 years. 

That’s all! This is the easy procedure to apply for an SBI IOCL Global Contactless Card through the official website. 

Conclusion

This is all you need to know about the SBI IOCL Debit Card. Through this review, we have covered the crucial points such as the SBI IOCL Global Contactless Debit Card Charges, significant benefits, eligibility guidelines, application procedure, available transaction/purchase limit, and more. 

With a single tap, you can carry out a variety of transactions i.e., through the Tap and Pay technology of this co-branded debit card. SBI IOCL Rupay Debit Card offers impressive benefits, exclusive offers, and exceptional reward points to the cardholders. Make fuel purchases and other purchases through secure payments. 

Drop your doubts or queries regarding the SBI IOCL Contactless Debit Card in the comments space. Stay in touch with our website for more related articles on SBI Debit/Credit Cards, bank accounts, and more. Get to know more about the types of SBI Debit Cards, SBI banking services, unique products, etc., through our website – MoneyCompass.