FABindia SBI Card SELECT – Benefits, Fees & Eligibility

Fabindia SBI Card Select

Introduction

The Fabindia SBI Card Select is a co-branded credit card launched by SBI in partnership with the esteemed lifestyle retail brand Fabindia. This card is a valuable addition to SBI Card's extensive co-branded portfolio, specifically designed to offer exclusive privileges to Fabindia customers. Cardholders gain direct access to the Platinum tier of FABfamily membership and enjoy accelerated reward points on their purchases at Fabindia stores. Beyond shopping benefits, the card also provides significant travel perks, including a complimentary Priority Pass membership and domestic airport lounge access, positioning it as a robust mid-level credit card option for individuals seeking a blend of lifestyle and travel advantages.

Welcome Benefits

• Fabindia gift voucher worth Rs. 1,500.
• Direct access to Platinum Tier Fabfamily membership.
• Welcome gift vouchers are credited to the cardholder's account within 15 to 30 days of the joining fee payment.

Fees

• Joining Fee: Rs. 1,499 + GST (one-time)
• Renewal Fee: Rs. 1,499 + GST (per annum)
• Spend-Based Waiver: Annual fee waived off on achieving annual spends of Rs. 2 lakh in the preceding year.
• Add-on Fee: Nil per annum.
• Rewards Redemption Fee: Rs. 99 (plus applicable taxes) per redemption request.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.5% per month (or 42% annually).
• Fuel Surcharge: 1% fuel surcharge waived off for transactions up to Rs. 3,000.
• Cash Advance Charges: 2.5% of the transaction amount, subject to a minimum amount of Rs. 500.
• For detailed information regarding fees and other applicable charges, refer to the Most Important Terms & Conditions.

Rewards

• Reward Point Value: 1 Reward Point = Re. 1 (when converted to Fabfamily Rewards).
• Accelerated Rewards:
  • 10 Reward Points per Rs. 100 spent at Fabindia stores.
  • 3 Reward Points per Rs. 100 spent on Dining, Movies, and Entertainment.
  • 2 Reward Points per Rs. 100 spent on all International transactions.
  • 2 Reward Points per Rs. 200 spent on all other categories.
  • Note: All Reward Point accrual is set up on multiples of Rs. 200 spends only.
• Milestone Benefit:
  • Gift Voucher worth Rs. 1,250 from popular brands on achieving quarterly milestone spends of Rs. 2 lakh.
  • You can choose gift vouchers from either Aditya Birla Fashion, Yatra, Urban Ladder, or Hush Puppies / Bata.
• Domestic Lounge Access: 4 complimentary domestic airport lounge accesses per year (maximum 1 per quarter).
• International Lounge Access: Complimentary Priority Pass Membership worth USD 99, valid for 24 months from the date of issue of the Priority Pass membership. Lounge visits under the Priority Pass membership are chargeable.
• Fuel Surcharge Waiver: Avail 1% fuel surcharge waiver on transactions up to Rs. 3,000, exclusive of GST and other charges.
  • Maximum fuel surcharge waiver of Rs. 100 per statement cycle per credit card account.

Rewards Redemption Guide

• Reward Points earned can be converted into Fabfamily Rewards.
• This conversion can be initiated through the website, mobile app, or by contacting the call center.
• 1 Reward Point is equivalent to 1 Fabfamily Reward, which has a monetary value of Re. 1.
• Fabfamily Rewards can only be used for shopping at Fabindia stores.
• The minimum Reward Points that can be redeemed is 100 Reward Points. Redemptions must be in multiples of 100, 200, or 500 only.
• Reward Points are valid for a period of 2 years from the date of accrual.

Card Eligibility Criteria

• SBI has not explicitly stipulated specific eligibility criteria for the Fabindia SBI Card Select.
• However, prospective applicants can utilize SBI Card's "Simplyfier" portal to assess which SBI credit card best aligns with their financial needs and profile.

Card Review

The Fabindia SBI Card Select is a compelling co-branded credit card, offering substantial value, especially for patrons of Fabindia stores where it provides a high reward rate of 10 Reward Points per Rs. 100 spent. Beyond this niche, the card maintains decent reward rates on common spending categories such as dining, movies, entertainment, and international transactions, with a base rate on other spends. Its travel benefits are a notable highlight, including 4 complimentary domestic airport lounge accesses annually and a complimentary Priority Pass membership for two years (international lounge visits are chargeable). Coupled with a spend-based annual fee waiver on reaching Rs. 2 lakh, a range of features like contactless payments, bill payment facilities, and flexible credit options, the Fabindia SBI Card Select presents itself as a well-rounded, mid-level credit card, suitable for individuals looking for a balanced offering in lifestyle, shopping, and travel.

Important Product Details

• Card Name: Fabindia SBI Card Select
• Card Type: Shopping, Lifestyle, Travel
• Contactless Technology: Allows for fast, easy, and convenient transactions by simply tapping the card at a secure reader. It is ideal for everyday purchases and enhances security by ensuring the card never leaves your hands, reducing the risk of loss and counterfeit fraud.
• Worldwide Acceptance: The card is accepted at over 29 million outlets across the globe, including 325,000 outlets in India, wherever the Visa sign is displayed.
• Guaranteed Peace of Mind: Cardholders are supported by the SBI Card Helpline and 24-Hour Visa Global Customer Assistance Services for emergencies. In case of a lost or stolen card during international travel, emergency assistance is available.
• Credit Facility: Offers flexible payment options, allowing cardholders to pay any amount from the Minimum Amount Due up to the Total Amount Due. The unpaid balance can be carried forward at one of the lowest finance charges available.
• Add-on Card: Extend card benefits to eligible family members including your spouse, parents, siblings, and children over 18 years of age, with no annual fee for add-on cards.
• Cash on the Go: Withdraw cash from over 1 million Visa ATMs globally, including 18,000 ATMs in India, and access over 10,000 ATMs across 100+ cities in India.
• Easy Bill Payment Facility: Pay utility bills (electricity, insurance, telephone) conveniently and on time through two methods:
  • Standing Instructions: Register for automatic bill payments to billers.
  • Online Payment: Make payments directly via the SBI Card website.
• Balance Transfer: Transfer outstanding balances from other credit cards to your Fabindia SBI Card Select at competitive low interest rates.
  • Minimum transfer amount: Rs. 5,000.
  • Maximum transfer amount: Up to 75% of your available credit limit on the card.
  • Processing Fee would be charged as applicable.
  • Balance transfers for Visa Cards are processed in 3 days, while Non-Visa cards take 5-7 working days.
• Flexipay: An easy installment plan allowing you to convert large purchases into convenient monthly installments at a low rate of interest. This facility can be availed by calling the SBI Card helpline or booking online on sbicard.com within 10 days of your purchase.
• mBUY: A mobile platform enabling shopping on the go for various services like booking movie tickets, planning travel, buying gifts, recharging mobile or DTH, and more. It provides access to over 100 merchants via your mobile device. To download mBuy, SMS "mBuy" to 56767 or visit sbicard.com.
• SBI Card Alerts: Receive SMS notifications on your registered mobile phone regarding your credit card status, including Mini Statement Alerts, Cheque Alerts, Credit & Cash Limit Alerts, and Payment Assistance Alerts.
• Insurance Products: Through your SBI Credit card, you have the option to purchase various insurance products, including Health Insurance, Personal Accident Insurance, Motor Insurance, Additional health covers, Travel & Home insurance, and Life Insurance, all available at very affordable rates.

Other Details

• Order of Payment Settlement: Information regarding the order in which payments are settled for a cardholder account is available via a specific link provided on the SBI Card website.
• Cheque Payments: Cheques payable outside clearing zones are not accepted. SBI Card accepts payments through local cheques or drafts payable in Delhi only.
• Taxation: All applicable taxes would be charged on all fees, interest, and other charges.
• Co-brand Product Funding: The value proposition of this co-brand product may be funded jointly by SBI Card and the co-brand partner (Fabindia), based on their financial arrangement. Accordingly, there may be fee and revenue sharing between the two parties.
• Terms and Conditions: Your continued use of the card will be deemed as acceptance of any amendments to the terms and conditions. The Most Important Terms and Conditions are also available on the SBI Card website.
• Customer Service & Support:
  • For assistance, you can call the SBI Card helpline at:
    • Dial 39 02 02 02 (prefix your local STD code).
    • Toll-free numbers: 1860 180 1290 or 1800 180 1290.
  • To block your SBI credit card instantly, send an SMS with the text "BLOCK" to 5676791 from your registered mobile number.
• ATM Usage Safety Tips:
  • Upon receiving your PIN, memorize it and destroy the PIN mailer immediately.
  • Never write the PIN on your card and never share it with anyone, including SBI Card staff. Only you should know your PIN.
  • Do not permit anyone else to use your card to access ATM facilities on your behalf.
  • Your PIN cannot be changed. If you forget it, please call the SBI Card Helpline to request a re-issue.
• Notes on ATM Usage:
  • Your PIN, along with your card, is the sole requirement for using the ATM facility. Anyone in possession of both can use it to withdraw cash.
  • Always follow the instructions displayed on the ATM screen carefully.
  • It is crucial to respond to ATM instructions within a reasonable timeframe.
  • If you do not act after entering your PIN, your card may either be retained by the machine or ejected. A retained card will require re-issuance, subject to a replacement card fee at the prevailing rate.
  • The ATM may disburse currency notes of a particular denomination only.