FABINDIA SBI Credit Card – Benefits, Fees & Eligibility

Introduction

The FABINDIA SBI Credit Card is a co-branded credit card issued by the State Bank of India in partnership with Fabindia. Positioned as a shopping-focused card with a nominal joining fee of ₹499, it offers significant savings for Fabindia loyalists. Key differentiating benefits include earning up to 5 Reward Points on every ₹100 spent at Fabindia stores, a welcome gift of Fabindia vouchers, and access to Fabfamily Gold Tier membership.

Welcome Benefits

• Fabindia gift vouchers worth Rs. 500.
• Access to the Fabfamily Gold Tier membership.
• Welcome benefits are credited to your account within 15 days after successful payment of the joining fee.

Fees & Charges Breakdown

• Joining Fee: Rs. 499 + GST
• Renewal Fee: Rs. 499 + GST
• Spend-Based Waiver: The renewal fee can be waived off on a minimum spend of Rs. 1 lakh in the previous year.
• Reward Redemption Fee: Rs. 99
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 3.5% per month.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver for all fuel transactions up to Rs. 3,000.
• Cash Advance Charges: 2.5% of the cash amount withdrawn or Rs. 500 (whichever is higher).
• Add-on Card Fee: Up to 3 complimentary Add-on SBI Credit Cards can be availed.

Rewards & Cashback Structure

• Earning Rate:
  • 5 Reward Points on every ₹100 spent on Fabindia stores.
  • 2 Reward Points on every ₹100 spent on dining, entertainment, and movies.
  • 1 Reward Point on every ₹100 spent on international transactions.
  • 1 Reward Point on every ₹100 spent on all other categories.
• Reward Redemption:
  • Reward Points can be converted into Fabfamily Rewards through the SBI website/mobile app.
  • Fabfamily Rewards can be redeemed only against shopping at a rate of 1 Reward Point = 1 Fabfamily Reward = ₹1.
  • A reward redemption fee of ₹99 is charged by the State Bank of India.
  • A minimum of 100 Reward Points is required for redemption.
• Milestone Benefits:
  • Get gift vouchers worth ₹750 from Aditya Birla Fashion/Yatra/BATA/Hush Puppies on spending ₹1 lakh or more in a quarter.

Travel, Lounge & Lifestyle Perks

• Domestic Lounge Access: Not applicable.
• International Lounge Access: Not applicable.
• Movie & Dining: Earn 2 Reward Points per Rs. 100 spent on dining, entertainment, and movies.
• Golf: Not applicable.
• Insurance Benefits: Not applicable.

Card Eligibility Criteria & Income Requirements

• Minimum Age: 21 years for salaried individuals, 25 years for self-employed individuals, and 40 years for retired pensioners.
• Maximum Age: 60 years (general), up to 70 years (as per FAQ).
• Occupation: Salaried or Self-Employed with a stable income.
• Income: A stable income is required, with specific minimums varying by card.
• Credit History: A positive credit history is preferred.
• Banking Relationship: Not mandatory, but may improve approval chances.
• Credit Score: A good credit score, preferably between 750 and 900, is preferred.
• Location: The applicant's residence address should be in locations serviced by SBI Card.
• Required Documents:
  • PAN Card for Digital KYC.
  • Copy of Aadhaar Card (with first 8 digits masked) or any valid government address proof for Digital KYC.
  • Income documents such as salary slips or income tax returns may be required depending on credit card eligibility and policy.

Credit Card Review

The FABINDIA SBI Credit Card is highly recommended for individuals who frequently shop at Fabindia, offering excellent savings with a redemption rate of 1 Reward Point = ₹1. The card's welcome and milestone gift vouchers, along with the fuel surcharge waiver and the option to waive the renewal fee based on annual spending, make it an attractive choice for shoppers looking for value.

Important Product Details

• Earn 5 Reward Points on every ₹100 spent at Fabindia stores.
• Receive gift vouchers worth Rs. 500 as a welcome benefit.
• Gain access to Fabfamily Gold Tier membership.
• Receive gift vouchers worth Rs. 750 on achieving milestone spends.
• Benefit from a spend-based renewal fee waiver.
• Enjoy a 1% fuel surcharge waiver.
• The card supports contactless transactions on NFC-enabled POS machines.
• Allows for payment of big purchases in easy EMIs.
• Enables cash withdrawal from any ATM across India.
• Supports contactless, online, and Point of Sale (POS) international transactions, with flexibility to activate/deactivate usage and set transaction limits.

Other Details

• The maximum benefit of the fuel surcharge waiver on this card is ₹100 per statement cycle.
• To apply for the card, you can visit the nearest SBI branch or fill out the online application form on the SBI Card website.
• Add-on cards can be applied for online or by logging into your SBI Credit Card online account or mobile app.
• General SBI Credit Card benefits include contactless transactions, Reward Points, exclusive cashbacks & discounts, add-on cards, EMI options, and cash withdrawal facilities.
• SBI Card offers various types of credit cards including Lifestyle, Reward, Shopping, Travel & Fuel, and Banking Partnership cards. The FABINDIA SBI Credit Card falls under the shopping and co-branded categories.