Need money? If you are very much in need of money, you need to put up your collateral assets in most cases. People have a couple of options such as a personal loan or loan obtained through a credit card. Both the loan types have their requirements like documents, loan sanction period, and more. Easy Money is a significant facility provided by the State Bank of India to credit cardholders. Through Easy Money, the cardholders can get funds for a short period at low-interest rates. To learn more about the SBI Easy Money, its benefits, rate of interest, tenure, and more, just go through this guide. This article helps you understand the procedure to book SBI Card Easy Money in different ways. Check it out!
Table of Contents
What is Easy Money on SBI Credit Card?
Wondering What is Easy Money in SBI Credit Card? If you need money urgently and don’t have any personal loan option, the State Bank of India provides an SBI card easy money facility directly into your savings bank account in different ways. The cardholders can get Easy Money at a low rate of interest and minimal processing fee. Within 48 hours, the cardholders can get Easy Money funds through NEFT. Easy Money helps customers fulfill their urgent cash requirements. However, the customers need to repay the Easy Money amount within 45 days tenure.
The SBI Cardholders can get a minimum amount of Rs. 5000 and a maximum of up to 75% of your credit card limit through the Easy Money facility. For emergency cash requirements, the customers can book Easy Money and get an SBI credit card easy money transfer credited to their savings account via NEFT. At a low rate of interest i.e., at 2.45% pm, customers can get instant money for a tenure of 45 days. The processing fee for utilizing the Easy Money facility is 1.5% or Rs. 199, whichever is higher. However, it is a one-time processing fee. Compared to different types of loan plans available to the cardholders, the SBI card easy money facility is offered at a lower interest rate.
In case, you reside in a metropolitan city or some other city, the concerned SBI officials will deliver the cheque within 3 to 5 days. SBI easy money is quite quick and simple to avail. However, there are a few eligibility rules for the cardholders to avail of this facility. Easy Money SBI is available to all the residents of India who have valid and active SBI Card. The card should have outstanding not more than 30 days. SBICPSL [State Bank of India Cards and Payment Services Private Limited] has the right to reject the issuance of the funds upon a request received to safeguard, lessen or counterbalance its unsafe risk exposure from an unstable card account.
The cash limit available on your SBI Card will be blocked for the Easy money amount that has been extended by SBICPSL at the time of processing your request. In case, if your credit card account doesn’t have the available cash limit or if the requested amount is greater than the cash limit, your request will be rejected. SBI Credit Cardholders can get this provision for different tenures and at different interest rates based on the availed amount. The remaining charges such as the processing fee will also be altered for different amounts as set by SBICPSL.
How to Book SBI Card Easy Money?
Want to know the booking procedure for SBI Card Easy Money? Well, this guide covers the complete information on how to book SBI Easy Money in different ways. In this post, we explained three different ways to apply or book for an SBI Easy Money. Check it out!
1. Book SBI Easy Money From SBI Card Website
The customers can easily book SBI Easy Money from the official SBI Card website. Follow the simple steps given below to apply for Easy Money SBI Card through the official portal of SBI Card.
- First of all, visit the official website of the SBI Card from your device i.e., at sbicard.com.
- On the home page of the website, you will find the ‘Login’ link.
- Enter your SBI Card Online log-in credentials such as the User ID and Password in the provided fields.
- Once you have logged into your net banking account, you will land on the dashboard.
- On the left-hand side of the screen, you can find the ‘Benefits’ link.
- Under the Benefits section, you will find the ‘Easy Money’ option. Just click it.
- Fill in your crucial details in the provided spaces and confirm the same to book Easy Money right away.
- Upon verifying your details, the concerned authorities will SBI credit card easy money transfer to your savings account.
That’s all! This is the easy procedure to book Easy Money in SBI Credit Card through the official SBI Card website.
2. Book SBI Card Easy Money Using SBI Card Mobile App
Another simple way to book SBI Card Easy Money is using the SBI Card mobile app. To utilize this benefit, the cardholders can apply using the mobile application. In 4 simple steps, you can book SBI Card Easy Money using the SBI Card mobile app. Follow the easy steps given below to book SBI Card Easy Money via the mobile app.
- After installing the mobile app, the customers can open the app.
- Log in to the SBI Card account using your login credentials such as the user ID and password.
- On the home screen, you will find the ‘Benefits’ option.
- Choose the ‘Easy Money’ option under the benefits link.
- Fill in the vital details in the given fields.
- Choose the ‘Mode of Disbursement’ i.e., NEFT or Cheque.
- Enter the amount that you want to apply for easy money. You can find the range of amounts that you can enter in the given field.
- Enter the name, bank account number, and IFSC Code in the empty spaces.
- On the next screen, you can find all your details for verification and confirmation.
- Check all your details such as the account number, bank name, address, and amount booked.
- Tick the checkbox to accept all the terms and conditions.
- Hit the Submit button.
- Finally, submit your details to confirm your booking to get Easy Money instantly.
3. Book SBI Credit Card Easy Money using ILA
The cardholders can even book an easy money SBI Card using ILA – Interactive Live Assistant. Follow the easy steps given below to apply for SBI Card Easy Money using ILA.
- Go to the official website of the State Bank of India i.e., at sbicard.com.
- On the home page of the website, you will find the ILA option at the bottom of the page.
- Click the ‘Ask ILA’ option.
- Enter the ‘Book Easy Money’ option in the chatbox.
- It then shows the ‘Book Easy Money’ option. Just click it.
- You need to log into your account using the User ID and Password. Hit the Login button.
- Enter the amount that you want to book for Easy Money on your SBI Card.
- Choose a mode for fund disbursement from the given options. It includes NEFT and Cheque.
- If you select NEFT, the sanctioned amount will be transferred to your savings account. On the other hand, the cheque will be sent directly to your registered address.
- On the next screen, you need to add your new account details and hit the ‘Apply’ button.
- Click the ‘Confirm Details’ button.
- ‘Your Easy Money booking is done’ message will be displayed on the screen.
- A total of three options will be displayed on the screen such as website, mobile app, click2call.
- Choose your preferred option to book Easy Money from the available options.
- If you want to apply through the website and mobile app, just follow the ways explained already.
- If you select the Click2call option, you need to visit the website and log in to your SBI Card online account.
- On the right-hand side of the screen, you will find the ‘Call me back’ option.
- You will then get a call back from the concerned authorities regarding booking Easy Money.
Another provision to book Easy Money is by calling the SBI Card Helpline Number.
SBI Card Helpline Numbers:
39 02 02 02 (prefix local STD code)
1860 180 1290 (from BSNL/MTNL lines)
SBI Credit Card Easy Money Interest Rate and Tenure
Easy Money facility comes with only one plan. We furnished the details regarding the SBI credit card easy money interest rate and tenure in a tabular form in this post.
|Rate of Interest||Tenure||Processing Fee|
|2.45% per month||45 days||1.5% or ₹ 199,whichever is higher|
SBI Easy Money FAQs
If you have any queries and doubts about the SBI credit card easy money interest rate and tenure, just read on the frequently asked questions. We also provided precise answers to the questions given below. Check it out!
- How much money I can get using SBI card Easy money feature?
The minimum money that the customers can get using SBI Card Easy Money feature is Rs. 5000. The maximum amount is up to 75% of your available cash limit.
- Can add-on cardholder book Easy Money?
No, Only the Primary Credit Cardholder can book Easy Money on the card.
- How can I cancel SBI card Easy Money?
If you want to cancel your request within 45 days of booking Easy Money, all the interests and fees levied on it will be reversed. However, once the cheque is issued to the cardholder, the charges will not be reversed. Ultimately, it results in a clear credit to the credit cardholder account. If the cancellation is done after 45 days, the fees levied on it will not be reversible. All the fees will remain wasted by the cardholders.
- How can I repay Easy Money?
You can repay Easy Money online i.e., your net banking account.
This is everything you need to know about SBI Easy Money. We hope this guide on Easy Money SBI Card has given adequate information. This post covered all the details including the interest rates and fees on SBI Card Easy Money. If you have any doubts or queries, just ask us in the comments space. Stay tuned to our website MoneyCompass to learn more about the SBI Credit Cards, its services, and more.