FABINDIA SBI Credit Card – Benefits, Fees & Eligibility

Introduction

The Fabindia SBI Card is a co-branded credit card issued by the State Bank of India in partnership with Fabindia, designed to offer unlimited privileges to its users. It comes with a nominal joining fee and provides a welcome gift voucher, significant reward points on Fabindia purchases, and other valuable benefits such as milestone vouchers, a fuel surcharge waiver, and the opportunity for an annual fee waiver. This card is particularly well-suited for individuals who frequently shop at Fabindia and seek to maximize savings on their lifestyle expenditures.

Welcome Benefits

• A Fabindia gift voucher worth Rs. 500.
• The welcome gift voucher will be credited to the cardholder's account within 30 days of fee payment.
• Direct access to Gold Tier Fabfamily membership.

Fees

• Joining Fee (one-time): Rs. 499 + GST
• Renewal Fee (per annum): Rs. 499 + GST
• Add-on Fee (per annum): Nil
• Spend-Based Waiver: Annual fee waiver on achieving annual spends of ₹1 lakh.
• Rewards Redemption Fee: Rs. 99
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 3.5% per month.
• Fuel Surcharge: 1% fuel surcharge waiver on transactions up to Rs 3,000, exclusive of GST and other charges.
• Maximum Fuel Surcharge Waiver: Rs. 100 per statement cycle per credit card account.
• Cash Advance Charges: 2.5% of the cash amount withdrawn or Rs. 500, whichever is higher.
• For information regarding other applicable fees and charges, refer to the Most Important Terms & Conditions.
• All taxes would be charged as applicable on all fees, interest, and charges.

Rewards

• Fabindia Spends: Earn 5 Reward Points per ₹100 spent at Fabindia stores.
• Dining, Movies, and Entertainment: Earn 2 Reward Points per ₹100 spent on these categories.
• International Spends: Earn 1 Reward Point per ₹100 spent on all international transactions.
• Other Spends: Earn 1 Reward Point per ₹200 spent on all other categories.
• Reward Point Accrual: All Reward Point accrual is set up on multiples of ₹200 spends only.
• Milestone Benefit: Receive a Gift Voucher worth ₹750 from popular brands such as Aditya Birla Fashion, Yatra, Hush Puppies / Bata on achieving quarterly milestone spends of ₹1 lakh.

Rewards Redemption Guide

• Reward points can be converted into Fabfamily Rewards by placing a request through the SBI Card website, mobile app, or call center.
• Redemption Value: 1 Reward Point = 1 Fabfamily Reward = Re 1.
• Fabfamily Rewards can only be used for shopping at Fabindia stores.
• Minimum Redemption: The minimum Reward Points that can be redeemed is 100 Reward Points, in multiples of 100, 200, or 500 only.
• A Rewards Redemption Fee of Rs. 99 is charged for redemption.

Card Review

The Fabindia SBI Card offers an excellent opportunity for savings, particularly for those with a penchant for shopping, especially at Fabindia stores. The ability to redeem earned Reward Points against shopping at a favorable rate of 1 Reward Point = ₹1 is a significant advantage. The card's welcome benefits, including a Fabindia gift voucher and Gold Tier Fabfamily membership, along with milestone gift vouchers, are highly attractive features. Beyond shopping, the card also provides value through its fuel surcharge waiver and the convenience of an annual renewal fee waiver based on annual spending. Considering its comprehensive benefits, the Fabindia SBI Card is an ideal choice for individuals who prioritize maximizing rewards and savings on their retail and lifestyle purchases.

Important Product Details

• Positive Highlights:
  • High reward rate of 5 Reward Points per ₹100 spent at Fabindia stores.
  • Welcome gift voucher worth Rs. 500 and direct access to Gold Tier Fabfamily membership.
  • Milestone benefit offering a ₹750 gift voucher on quarterly spends of ₹1 lakh.
  • Annual fee waiver upon reaching annual spends of ₹1 lakh.
  • 1% fuel surcharge waiver (up to ₹100 per statement cycle on transactions up to ₹3,000).
  • Reward points convert directly to Fabfamily Rewards at a value of 1 Reward Point = Re 1.
  • Contactless payment technology for quick and secure transactions.
  • Worldwide acceptance at over 29 million outlets.
  • Option to apply for Add-on cards for family members at no additional fee.
  • Access to flexible payment solutions like Balance Transfer and Flexipay for managing finances.
  • Availability of various insurance products at affordable rates.
  • Easy Bill Payment facility for utility bills.
  • SBI Card Alerts for real-time transaction updates.
  • mBuy facility for on-the-go shopping, travel, and recharges.
• Negative Highlights:
  • Reward Point accrual for "other spends" is limited to multiples of ₹200.
  • A Rewards Redemption Fee of ₹99 is applicable.
  • Fabfamily Rewards are exclusively redeemable for shopping at Fabindia stores, limiting redemption flexibility.
  • A foreign currency markup of 3.5% is charged on international transactions.
  • An interest rate of 3.5% per month applies to outstanding balances.
  • Cash advance charges are 2.5% of the withdrawn amount or Rs. 500, whichever is higher.

Other Details

General Features

• Contactless Technology: Tap the Fabindia SBI Card at a secure reader for fast, easy, and convenient transactions, ideal for everyday purchases. This technology ensures the card never leaves your hands, significantly reducing the risk of card loss and fraud due to counterfeiting (skimming).
• Worldwide Acceptance: The Fabindia SBI Card can be used in over 29 million outlets across the globe, including 3,25,000 outlets in India. Look for the Visa sign of acceptance.
• Guaranteed Peace of Mind:
  • Access the SBI Card Helpline and 24-Hour Visa Global Customer Assistance Services available worldwide for any emergencies.
  • Emergency assistance is provided if your card is lost or stolen during travel outside India.
• Credit Facility: Offers great flexibility of payment with an extended credit option. You can pay any amount from the Minimum Amount Due to the Total Amount Due and carry forward the unpaid balance at one of the lowest finance charges available.
• Enhanced Power to Your Family (Add-on Card): Share the benefits of your Fabindia SBI Card by applying for an Add-on card for your spouse, parents, siblings, and children over 18 years of age. The Add-on Card Fee is Nil per annum.

Cash and Payments

• Cash on the Go: Withdraw cash from over 1 million Visa ATMs across the globe, including 18,000 ATMs in India, and access over 10,000 ATMs across 100 plus cities in India.
  • How to Get Cash from an ATM: Insert your card, key in your Personal Identification Number (PIN), enter the required cash amount, wait for your card to be ejected, and then count your cash.
  • Safety Tips for ATM Usage: Memorize your PIN and destroy the PIN mailer. Do not write the PIN on your card and never share it with anyone, including staff. Do not allow anyone else to use your card for ATM transactions. If you forget your PIN, call the SBI Card Helpline for re-issuance (PIN cannot be changed directly).
  • Important Notes: Your PIN along with your card is the only requirement for using this facility. Follow ATM instructions carefully and respond in reasonable time, otherwise, your card may be retained or ejected. A retained card will require re-issuance, subject to a replacement card fee. ATMs may disburse currency notes of a particular denomination only.
• Easy Bill Payment Facility: Ensure timely payment of utility bills like electricity, insurance, and telephone through two methods:
  • Standing Instructions: Register for standing instructions for automatic bill payments by SBI Card on your behalf.
  • Online Payment: Make online payments on the SBI Card website.
• Balance Transfer: Save with low interest rate options by transferring balances from any of your other credit cards to your Fabindia SBI Card.
  • Transfers for Visa Cards are completed in 3 days, and for Non-Visa cards, in 5-7 working days.
  • The amount transferred should be a minimum of ₹5,000 and a maximum of up to 75% of your available credit limit.
  • A processing fee will be charged as applicable.
• Flexipay: An easy installment plan from Fabindia SBI Card that allows you to convert purchases into easy monthly installments at a low interest rate. To avail this facility, call the SBI Card helpline or book online on sbicard.com within 10 days of your purchase.
• Order of Payment Settlement: All payments made for a cardholder account are settled in a specific order, details of which are available via the provided link on the SBI Card website.
• Cheque Payments: Cheques payable outside clearing zones are not accepted. Only local cheques or drafts payable in Delhi are accepted for payment.

Digital Services and Assistance

• mBUY: Shop on the go for movie tickets, travel, gifts, mobile or DTH recharge, and more. Access over 100 merchants on your mobile and pay with your Fabindia SBI Card. To download mBuy, SMS 'mBuy' to 56767 or log onto sbicard.com.
• SBI Card Alerts: Receive information regarding your credit card status as an SMS on your mobile phone. These include Mini Statement Alerts, Cheque Alerts, Credit & Cash Limit Alerts, and Payment Assistance Alerts.
• Insurance Products: With your SBI Credit card, you can purchase Health Insurance, Personal Accident Insurance, Motor Insurance, Additional health covers, Travel & Home insurance, Life Insurance, and other assistance products at very affordable rates.

General Terms

• The value proposition of the co-brand product may be funded jointly by SBI Card and the co-brand partner based on their financial arrangement. Accordingly, there may be fee and revenue sharing between the two parties.
• Your continued use of the card will be deemed acceptance of any amendments to the terms and conditions.
• For assistance, you can call the SBI Card helpline at: Dial 39 02 02 02 (prefix local STD code) or 1860 180 1290.