Is there a joining fee?

No joining fee; first year annual fee is waived.

How do I receive reward points?

Reward points are automatically credited to your Ola Money wallet (1 point = ₹1).

What is the reward rate on Ola rides?

Earn 7% value-back on Ola rides (subject to monthly caps and T&C).

How can I waive the annual fee?

Spend ₹1,00,000 in a membership year to get the renewal fee (₹499) reversed.

Are rewards redeemable outside Ola

Rewards are primarily credited to the Ola Money wallet and redemption options depend on wallet and partner offers.

Credit Cards/SBI Bank/SBI Ola Money Credit Card

SBI Ola Money Credit Card

SBI Bank

4.7

Expert Rating

fuelgroceryrestaurantse-commerce

Annual Fee

₹499

Joining Fee

₹0

Forex Fee

1.99%

Lounge Access

No lounge access

The SBI Ola Money Credit Card is a co-branded card built for frequent Ola users and travellers. It offers strong value-back on Ola rides and travel bookings, with rewards automatically credited to the Ola Money wallet. The card has a low entry cost and simple redemption mechanics, making it easy to use for everyday spends.

Features of SBI Ola Money Credit Card which makes it unique

Auto Wallet Credit

Reward points are auto-credited to the Ola Money wallet

Immediate wallet balance for Ola/partner spending

Simpler redemption vs manual transfers

Rewards Structure of SBI Ola Money Credit Card

Ola Rides

accelerated

Ola rides and Ola postpaid

Reward Rate:7% value-back (reward points)

Base

base

All other retail spends (excluding wallet loads and excluded merchants)

Reward Rate:1% value-back (reward points)

Standard earn rate; points credited to Ola Money wallet and redeemable per wallet/partner options.

Milestones of SBI Ola Money Credit Card

Annual Spend Waiver

₹1,00,000 : Annual fee waiver (₹499)

Fees & Charges of SBI Ola Money Credit Card

Fee & Amount	Fee Value
Joining Fee	0
Annual Fee	₹499
Forex Markup Fee	1.99%
Cash Advance Fee	2.5%
Late Payment Fee	₹750
Over Limit Fee	₹500
Returned Payment Fee	₹350
Cash Withdrawal Fee	2%

Renewal Conditions:Renewal fee (₹499) waived on ₹1,00,000 annual spends.

Fee Explanation Standard bank rates and applicable taxes apply for overdue amounts and service charges.

Lounge Access Benefits with SBI Ola Money Credit Card

domestic Lounges

silver

Visits per year: 0

Guest access: No

No complimentary domestic lounge visits included

Insurance Coverage with SBI Ola Money Credit Card

Standard Card Protections

Subject to issuer terms

Refer to SBI Card T&Cs for insurance inclusions and exclusions

Additional Features of SBI Ola Money Credit Card

Contactless Payments

Tap-and-pay enabled

Add-on Cards

Add-on cards available as per SBI Card policy

Welcome Bonus with SBI Ola Money Credit Card

Welcome Bonus: Hotel credits
Bonus Conditions: Offers and vouchers subject to registration, T&C and limited-time campaigns; individual voucher T&Cs apply.

Application Process for SBI Ola Money Credit Card

Processing Time

5-7 business days

Online Application

Available

Instant Approval

Available

Step-by-Step Process

Express interest via Ola Money or SBI Card portal

Apply online and complete KYC

Receive verification and approval

Card dispatched within 5-7 business days

Required Documents for SBI Ola Money Credit Card

ID Proof

all

Accepted documents:

PAN Aadhaar

Address Proof

all

Accepted documents:

Passport Utility Bill

Income Proof

salaried

Accepted documents:

Payslip Form 16