SIB One Co-Branded Credit Card

South Indian Bank · Applications paused

A lifetime-free metal Visa card from South Indian Bank and OneCard, run entirely from the OneCard app. It earns 1 reward point per ₹50 and 5X points on the holder's top two spend categories each month, with a 1% forex markup. A point is worth ₹0.10 against the bill (OneCard's own statement), so the base rate is 0.2%. New applications are paused.

Annual fee
Lifetime free
Joining fee
None
Base rate
1 reward point per ₹50: 1 SIB One Reward Points per ₹50 (about 0.2% at cash value)
Lounges
None on record
Forex markup
1%
Data
From bank documents, checked 6 Nov 2026

Earns nothing on

  • No reward points on bills and utilities (from 2026-09-15)
  • No reward points on fuel
  • No reward points on rent or digital wallet loads
  • No reward points on money transfers or cash withdrawals
  • No reward points on merchant EMIs

Terms the calculator does not value

  • 5X rewards: the top 2 spend categories of a calendar month earn 5 times the points if the month has purchases in at least 3 categories with at least ₹750 in each (from 2025-01-06). Categories follow MCCs and the bank may reclassify merchants. Which categories are "top" depends on the holder's own month, which the calculator cannot choose. For education, bills and insurance the 5X increment is limited so that total rewards in those categories stay under 25,000 points (no period stated). 5X points are credited on the 10th of the next month. Not entered as `choices` because the category taxonomy is the OneCard app's, not published in full, so any list of options would be a guess.
  • The ₹0.10 point value comes from OneCard's 2021 rewards explainer (500 points = ₹50 off the bill). No SIB document states a value, and the T&C let the bank change the conversion rate at its discretion.
  • The bank may withhold rewards or cancel the card for suspected misuse (excessive utilisation, payments to other cards or loans, transfers to savings accounts), and may reclassify merchant categories, which can change fees and thresholds.

Sources

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