SBI discontinues OLA Money card — 1% reward, ₹499 fee

SBI Card has discontinued the OLA Money SBI Card, effective December 2025. Cardholders will be replaced with either the SimplyCLICK or SimplySAVE SBI Credit Card, as chosen by SBI. The OLA Money SBI Card offered 1% Reward Points on all spends, which were swept into an OLA Money wallet rather than onto the card account. The replacement cards have a different reward structure and a fee of ₹499 per year from the second year, waived on ₹1,00,000 of annual spend. The fee to join is zero. Existing cardholders should note that their accumulated Reward Points, held in the OLA Money wallet, will not be transferred to the new card and should be spent down before the replacement card arrives. The OLA Money SBI Card was live since 15 May 2019. SBI Card’s own product record carries the notice of discontinuation, stating that the card has been discontinued and that cardholders will be replaced with the new card. This move ends the last of the big Indian cab co-brands after six and a half years. The replacement cards, SimplyCLICK and SimplySAVE, are general-purpose house cards with a completely different bargain. Cardholders should check the terms of the new card, including the fee and reward structure, to understand the changes. The date of the change is given as December 2025, with no more precision than that claimed. Our take: spend down your OLA Money wallet balance before the replacement card arrives, and review the terms of the new card to understand the changes. If the new card does not meet your needs, consider other options, but for now, the focus should be on using up the existing balance to avoid losing its value. The SimplyCLICK and SimplySAVE cards have their own benefits, but they are different from the OLA Money SBI Card, and cardholders should be aware of the changes. The key difference is that the Reward Points on the OLA Money SBI Card went into an OLA Money wallet, while the new cards will have their rewards paid out according to SBI Card’s standard reward programme. This means that cardholders will need to adapt to a new reward structure and potentially different redemption options. Overall, the discontinuation of the OLA Money SBI Card and the replacement with the SimplyCLICK or SimplySAVE SBI Credit Card will require cardholders to review their rewards and benefits and make any necessary adjustments.