Aditya Birla SBI Card SELECT – Benefits, Fees & Eligibility

Introduction

The Aditya Birla SBI Card SELECT, a co-branded offering from SBI Card and Aditya Birla Finance Limited, was designed to provide exciting rewards across various categories, particularly for customers of Aditya Birla Group brands. Launched on the Visa platform, this card aimed to deliver significant benefits on dining, lifestyle, and hotel spends. While it offered a generous welcome bonus of 6,000 Reward Points upon activation and valuable milestone benefits, along with complimentary domestic lounge access, it is important to note that this card has since been discontinued.

Welcome Benefits

The Aditya Birla SBI Card SELECT offers a welcome bonus of 6,000 Reward Points upon card activation, provided the joining fee has been paid.

Fees

• Joining Fee: ₹1,499 + GST
• Renewal Fee: ₹1,499 + GST
• Rewards Redemption Fee: A charge of ₹99 is applicable per redemption request.
• Foreign Currency Markup: A fee of 3.5% is charged on the conversion amount for international transactions.
• Interest Rates: The interest rate on revolving credit is 3.5% per month, which translates to 42% per annum.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at all fuel stations across India. The maximum waiver is capped at ₹100 per month.
• Cash Advance Charges: A fee of 2.5% on the transaction amount is levied for cash advances, subject to a minimum charge of ₹500.

Rewards

The Aditya Birla SBI Card SELECT offers a multi-tiered reward structure designed to maximize benefits on specific spending categories:

• Aditya Birla Stores: Earn an accelerated 20X Reward Points for every ₹100 spent at Aditya Birla Stores.
• Entertainment, Dining, and Hotels: Get 10X Reward Points for every ₹100 spent on Entertainment, Dining, and Hotels.
• Other Categories: Earn 2X Reward Points for every ₹200 spent on all other categories.

Milestone Benefits:

• Earn 3,000 bonus Reward Points on spending ₹1.5 Lakh or more in an anniversary year.
• Receive an additional 3,000 bonus Reward Points on spending ₹3 Lakh or more in an anniversary year.

Rewards Redemption Guide

Reward Points earned with the Aditya Birla SBI Card SELECT can be redeemed flexibly:

• Gift Vouchers & Product Catalogs: Points can be redeemed for a variety of gift vouchers or items from product catalogs available on the SBI Card website or through the SBI mobile app.
• Against Outstanding Balance: You also have the option to redeem your Reward Points against your card's outstanding balance via internet banking.
• Conversion Rate: Each Reward Point is valued at ₹0.25 (1 RP = ₹0.25).

Card Eligibility Criteria

To apply for the Aditya Birla SBI Card SELECT, applicants generally need to meet the following criteria:

• Age: Minimum age of 21 years and maximum age of 60 years.
• Occupation: Must be salaried or self-employed with a stable source of income.
• Credit History: A positive credit history is preferred, with a good credit score, ideally between 750 and 900.
• Location: The applicant's residence address should be in locations serviced by SBI Card.

Documents Required: When applying for the card, the following documents are typically required:

• Identity Proof: PAN Card, Voter's ID, Passport, Aadhaar card, or Driving License.
• Address Proof: Utility Bills, Ration Card, Aadhaar Card, or Passport.
• Income Proof: Latest 3 months’ salary slips, 3 months’ bank statement, or audited financial report.

Card Review

The Aditya Birla SBI Card SELECT was a compelling option for individuals who frequently shopped at Aditya Birla Group brands, offering an exceptional 20X reward rate. Its benefits extended to popular lifestyle categories like dining, entertainment, and hotels with a 10X reward rate, making it a versatile card for everyday spends. The inclusion of 4 complimentary domestic lounge accesses and attractive welcome and milestone bonuses further enhanced its value proposition.

However, the card's high foreign currency markup of 3.5% made it less suitable for international travel or transactions. The ₹99 fee for each rewards redemption request was also a minor drawback. Most significantly, the card has been discontinued, which means new applications are no longer accepted, and its long-term viability for existing cardholders may be uncertain.

Pros:

• Accelerated reward earnings of 20X on Aditya Birla Stores, ideal for loyal customers.
• Enhanced rewards of 10X on popular categories like dining, entertainment, and hotels.
• Enjoy 4 complimentary domestic airport lounge visits annually, adding comfort to your travels.
• Generous welcome bonus of 6,000 Reward Points and attractive milestone benefits.
• Flexible redemption options, including gift vouchers, product catalogs, or against outstanding balance.

Cons:

• The card has been discontinued, limiting new applications and future benefits.
• A high foreign currency markup of 3.5% makes international transactions expensive.
• A fee of ₹99 is charged for each rewards redemption request.
• Lacks international lounge access, which might be a drawback for frequent international travelers.
• No specific movie benefits or discounts are offered with this card.

Ideal User Profile: This card was ideally suited for regular customers of Aditya Birla brands who could maximize the 20X reward rate. It also appealed to individuals seeking lifestyle benefits on dining, entertainment, and hotels, along with domestic travel perks like lounge access.

Verdict: While the Aditya Birla SBI Card SELECT offered a strong rewards program for its target audience and valuable lifestyle benefits, its discontinuation significantly impacts its appeal. For those who managed to acquire it, the benefits were substantial, but its current status means it is no longer an option for new applicants.

Important Product Details

• Receive 6,000 Reward Points upon card activation.
• Earn 20X Reward Points for every ₹100 spent on Aditya Birla Stores.
• Get 10X Reward Points for every ₹100 spent on Entertainment, Dining, and Hotels.
• Receive 2X Reward Points per ₹200 spent on other categories.
• Enjoy a 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000, capped at ₹100 per month.
• Benefit from 4 complimentary domestic airport lounge accesses annually (1 visit per quarter).
• Earn 3,000 bonus Reward Points on spending ₹1.5 Lakh in an anniversary year.
• Get an additional 3,000 bonus Reward Points on spending ₹3 Lakh in an anniversary year.

Other Details

• Reward Points Validity: Reward Points earned with the Aditya Birla SBI Card SELECT are valid for 2 years (24 months) from the date of earning.
• Cash Withdrawal Limit: Cardholders can withdraw up to 80% of their assigned credit limit as a cash advance.
• Application Process: The card could be applied for offline by visiting an SBI Branch or online through the SBI Card website by filling out the application form.
• Application Status Check: The status of an application could be tracked on the SBI Card website by entering the application number.