SBI to offer Unnati Credit Card with ‘zero annual fee’

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Kunwar Prithvi Singh Chauhan
Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.

Leading public sector bank, State Bank of India has announced that it is going to offer a credit card to every account holder who has a balance of over 20,000 in his bank account. The credit card will also be offered to users without credit history or the users with bad credit history.

Speaking on the development, Arundhati Bhattacharya, Chairperson – SBI said that the move is announced in order to bring more people in the main frame of digital payments. To increase the penetration of credit cards in the country, the Unnati credit card will be offered for zero annual fee for the first four years.

She further stated that a lot of banking customers do not have a credit history and this is one of the factors considered by banks in order to issue a credit card and hence, a lot of people can not have access to credit cards. This new step by SBI will help people get access to credit cards and also, will help the users have a credit history for future financial transactions. Having a credit card and being involved in digital payments will also bring the customers in organized digital finance stream.

This is a major collaboration between State Bank of India and SBI Card. Recently, the bank has bought back a percentage of equity from one of the partners in SBI Card, GE Capital. SBI now holds 74% stake in SBI card. GE Capital is going to sell the remaining stake to another Private Equity firm in the coming days.

Check the below video for a detailed analysis of the card along with more information.


  1. […] State Bank of India has announced its move to make credit cards more mainstream by providing it to users with less or no credit history. After the move was made public, a lot of people started asking us about the steps to follow in order to apply for Unnati Credit Card. In this post, I am going to explain the steps needed in order to apply for an SBI Unnati Credit Card. […]


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