Max SBI Card SELECT – Benefits, Fees & Eligibility

Max SBI Card SELECT

Introduction

The Max SBI Card SELECT is a premium, co-branded credit card offered by SBI in partnership with the Landmark Group's popular fashion brand, Max. Designed for avid shoppers, this card provides extensive benefits and privileges across Landmark Group stores such as Max, Lifestyle, Home Centre, and Spar, which offer a wide range of apparel, footwear, and accessories. Cardholders can enjoy significant reward points on their purchases, including bonus points on joining and renewal, as well as milestone benefits for achieving spending targets. It also allows for dual benefits by converting SBI reward points into Landmark reward points, offering flexibility and enhanced value.

Welcome Benefits

• Get 6,000 bonus reward points, equivalent to INR 1,500, upon payment of the annual fees.
• Reward Points will be credited to the cardholder's account within 30 days of annual fee payment.
• Receive Rs 100 cashback on the first ATM cash withdrawal made within 30 days of card issuance (available once).

Fees

• Annual Fee (one-time): Rs. 1499 + GST
• Renewal Fee (per annum): Rs. 1499 + GST
• Spend-Based Waiver: Nil
• Rewards Redemption Fee: Rs 99
• Foreign Currency Markup: 3.5% of the total transaction value.
• Interest Rates: 3.5% per month or 42% per annum
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between Rs. 500 - Rs. 3,000 across all petrol pumps in India, 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 total transaction amount (Minimum Rs. 500).
• Add-on Fee (per annum): Nil
• All taxes (GST) would be charged as applicable on all fees, interest, and charges.

Rewards

• General Reward Rate: Earn 1 Reward Point on every Rs. 100 spent using the Max SBI Card SELECT.
• Accelerated Reward Rate:
  • Earn 10 Reward Points on every Rs. 100 spent at Online & Retail Landmark Stores (Lifestyle, Home Centre, Max, and Spar).
  • Earn 10 Reward Points on every Rs. 100 spent on Dining and Movies.
• Standard Reward Rate: Earn 2 Reward Points on every Rs. 100 spent on other retail purchases (excluding fuel).
• Reward Point Value: 4 Reward Points = 1 Rupee.
• Renewal Benefit: Get 6,000 Reward points worth Rs 1,500 on payment of the renewal fees. These points will be credited within 30 days of fee payment.
• Milestone Benefits:
  • Achieve a cumulative milestone benefit of up to 34,400 Reward Points, worth Rs 8,600.
  • Earn 12,000 bonus Reward Points on overall annual retail spends of Rs 300,000.
  • Bonus Reward Points on annual spending at Landmark Stores:
    • Earn 2,400 bonus Reward Points on annual spends of Rs 25,000 across all Landmark Stores.
    • Earn 8,000 bonus Reward Points on annual spends of Rs 75,000 across all Landmark Stores.
    • Earn 12,000 bonus Reward Points on annual spends of Rs 150,000 across all Landmark Stores.
• Travel Benefits: No specific travel benefits such as domestic or international lounge access.
• Golf Benefits: No golf benefits.
• Insurance Benefits: No insurance benefits specified.

Rewards Redemption Guide

• Redeem your Reward Points instantly at Lifestyle, Home Centre, Spar, and Max stores.
• Convert your SBI Reward Points into Landmark Rewards to get a dual benefit.
• The conversion rate is: 1 Landmark Point = 2.4 SBI Card Reward Points.
• The value of Landmark Reward Points is: 1 Landmark Reward Point = Rs 0.60.

Card Eligibility Criteria

• Age: The applicant's age should be between 18 and 60 years.
• Income: The applicant must have a regular source of income, whether salaried or self-employed.
• Credit Score: A decent credit score or credit history is required, preferably over 700.

Documents Required

• Proof of Identity:
  • Aadhar Card
  • PAN Card (Form 16 can be submitted if PAN Card is unavailable)
  • Driving License
  • Voter ID Card
• Proof of Address:
  • Aadhar Card
  • Driving License
  • Voter ID Card
  • Passport
  • Utility bills (electricity, telephone, mobile) in the applicant's name
• Proof of Income:
  • Salary slips for the last three months (for salaried individuals)
  • Bank Statement for the last three months
  • ITR (Income Tax Return) or Form 16

Card Review

The Max SBI Card SELECT stands out as a strong co-branded credit card tailored for shopping enthusiasts, particularly those who frequent Landmark Group stores. It offers substantial reward points on spending at Max, Lifestyle, Home Centre, Spar, and also on dining and movies, making it highly valuable for everyday lifestyle expenses. The welcome and renewal bonus points, along with the attractive milestone benefits, provide significant value back to the cardholder. The ability to convert SBI reward points into Landmark rewards for dual benefits is a unique perk. While it lacks premium travel or lifestyle benefits like lounge access or golf, its core strength lies in its shopping rewards and easy redemption options. This card is best suited for individuals who frequently shop at Landmark Group outlets and are looking for a rewarding credit card experience focused on retail and entertainment.

Important Product Details

• Shopping Focus: Earn 10 Reward Points on every Rs. 100 spent at Online & Retail Landmark Stores (Lifestyle, Home Centre, Max, and Spar).
• Entertainment Rewards: Get 10 Reward Points on every Rs. 100 spent on dining and movies.
• Bonus Reward Points:
  • 6,000 bonus reward points (worth INR 1,500) on annual fee payment.
  • 6,000 reward points (worth INR 1,500) on renewal fee payment.
• Milestone Benefits: Cumulative milestone benefits up to 34,400 Reward Points (worth Rs 8,600), including 12,000 bonus Reward Points on Rs 300,000 annual retail spends and additional points on Landmark store spends.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions of Rs. 500 - Rs. 3,000, with a maximum waiver of Rs. 100 per statement cycle.
• Reward Point Conversion: Convert SBI Reward Points into Landmark Rewards for enhanced benefits.
• Contactless Payments: Enjoy fast, convenient, and secure daily purchases by simply waving your card at secure readers (Visa payWave feature).
• Flexipay: Convert purchases of Rs. 2,500 or more into easy monthly installments by logging into sbicard.com within 30 days of the transaction.
• Balance Transfer on EMI: Transfer outstanding balances from other bank credit cards to Max SBI Card SELECT at a lower interest rate, payable in easy EMIs.
• Worldwide Acceptance: The card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India, wherever Visa is accepted.
• Add-on Cards: Provide add-on cards for family members (parents, spouse, children, siblings) above 18 years of age at no additional cost.
• Cash Withdrawal: Withdraw cash from over 1 million Visa ATMs worldwide.
• Utility Bill Payment: Conveniently pay electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility.
• Card Type: This is a Visa Signature card, offering premium features and privileges.

Other Details

• Payment Settlement: All payments made for a cardholder account will be settled in a specific order, detailed on the SBI Card website.
• Cheque Acceptance: Cheques payable outside clearing zones are not accepted. Only local cheques or drafts payable in Delhi are accepted.
• Co-brand Product Funding: The value proposition of this co-brand product may be jointly funded by SBI Card and the co-brand partner, involving fee and revenue sharing between the two parties.
• Helpline: For assistance, call SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290.
• Terms and Conditions: Detailed Terms and Conditions and Usage Directions are available via a link on the SBI Card website.
• FAQs for Contactless Cards: FAQs regarding contactless card usage are available for download.
• List of Merchants for Contactless Transactions: A list of merchants enabled for contactless transactions can be downloaded from the SBI Card website.