Ola Credit Card launched in partnership with SBI — up to 20% cashback, no joining fees

Ola today announced that it has partnered with State Bank of India to launch Ola Money Credit Card in India. It is said to be India’s first such co-branding initiative in the segment and the company is offering 1% cashback on all other spends along with early bird offers.

Ola Money SBI Credit Card is powered by Visa and claims to provide a seamless, flexible, and convenient payment system. Ola is offering cash back and rewards to the credit card users across various services like Ola rides, Cleartrip, Dineout and it will be instantly credited to user’s Ola Money account with lifetime validity. It is redeemable on Ola, Dineout, Cleartrip, and 1500+ other merchants.

Ola Money SBI Credit Card Offers

The list of cashbacks and rewards for the card users include

  • 7% cashback on all Ola rides
  • 5% cashback on flight tickets via Cleartrip. Cashback amount is capped at Rs. 5,000 for domestic and Rs. 15,000 for international bookings.
  • 20% cashback on hotel bookings via Cleartrip
  • 20% cashback on restaurant bills via Dineout. Maximum cashback in 12 months is Rs. 2400
  • 1% cashback on all other spends
  • Fuel surcharge waiver

Apart from this, as an Early Bird offer, users get Rs.500 as Ola Money, Rs.300 Cleartrip voucher, 3 months Dineout’s Gourmet Passport membership. Users can manage their credit card from the Ola app itself and get alerts for bills, access monthly statement and get in-app support for any queries.

Interested consumers can enroll for Ola Money SBI Credit Card from Ola’s official website. There is no card fee for the first year and 2nd year card fee of Rs. 499 will be waived off if the user spends over 1 lakh rupee per year.

Commenting on the launch, Bhavish Aggarwal, Ola Co-founder, and CEO said:

Mobility spends form a significant wallet share for users and we see a huge opportunity to transform their payments experience with this solution

Hardayal Prasad, MD & CEO, SBI Card said:

Through this card, we aim to address their evolving mobility spends while providing them with maximum value and unique benefits on their travel spends, especially for cab-based commute.

Author: Manoj Nagendra

Manoj Nagendra is passionate about smartphones and the latest technology. He likes to write and explore the latest tech and you can often find him with an Android phone. You can follow him on Twitter @manojshesh24 and also mail at manojnagendra@fonearena.com