Max SBI Card SELECT – Benefits, Fees & Eligibility

Introduction

The Max SBI Card SELECT is a premium shopping-based credit card offered by SBI in partnership with the Landmark Group's brand "Max." Positioned for avid shoppers, this co-branded card provides significant benefits for purchases made at Landmark Group stores like Max, Lifestyle, Home Centre, Spar, Baby Shop, and EasyBuy. Cardholders can earn substantial reward points on their spending, including bonus points upon paying the annual fee and achieving annual spending milestones. A key differentiating benefit is the ability to convert SBI reward points into Landmark Rewards for enhanced redemption value.

Welcome Benefits

• Earn 6,000 bonus reward points, equivalent to Rs. 1,500, upon payment of the annual fees.
• Receive Rs. 100 cashback on the first ATM cash withdrawal made within 30 days of card issuance.

Fees

• Joining Fee: Rs. 1,499 + GST/taxes
• Annual Fee: Rs. 1,499 + GST/taxes (from the second year onwards)
• Add-on Fee: Nil
• 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 Waiver: 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps across India. The maximum waiver is Rs. 100 per statement cycle.
• Cash Advance Charges: 2.5% of the total transaction amount (Minimum Rs. 500).

Rewards

• Reward Points Value: 4 Reward Points = Re. 1.
• Landmark Store Spends: Earn 15 Reward Points on every Rs. 100 spent at Online & retail Landmark Stores (Lifestyle, Home Centre, Max, Spar, Baby Shop, and EasyBuy).
• Dining, Movies & International Spends: Earn 10 Reward Points per Rs. 100 spent on dining, movies, and international transactions.
• Other Retail Purchases: Earn 2 Reward Points per Rs. 100 on other retail purchases (excluding Fuel, Rental, Govt Spends, Gaming, Wallet, EMI).
• Renewal Benefit: Earn 6,000 bonus Reward Points upon paying the renewal fee of Rs. 1,499.
• Milestone Benefits:
  • Earn 12,000 bonus Reward Points on overall annual retail spends of Rs. 3,00,000.
  • Earn additional bonus Reward Points based on annual spending at Landmark stores:
    • Spend Rs. 150,000: Earn 12,000 bonus Reward Points.
    • Spend Rs. 75,000: Earn 8,000 bonus Reward Points.
    • Spend Rs. 25,000: Earn 2,400 bonus Reward Points.
  • Cumulative milestone benefits can amount to 34,400 Reward Points, worth Rs. 8,600.

Rewards Redemption Guide

• Redeem your Reward Points by converting them into Landmark Rewards for a double benefit.
• 1 Landmark Point = 2.4 SBI Card Reward Points.
• 1 Landmark Reward Point = Rs. 0.60.
• Reward Points can be redeemed instantly at Lifestyle, Home Centre, Spar, Max, Baby Shop, and EasyBuy stores.

Card Eligibility Criteria

• Age: Between 18 and 60 years.
• Income: Must have a regular source of income, whether salaried or self-employed.
• Credit Score: A decent credit score or credit history is preferred (preferably over 700).

Documents Required

• Proof of Identity: Aadhar Card, PAN Card (Form 16 if no PAN Card), Driving License, Voter ID Card.
• Proof of Address: Aadhar Card, Driving License, Voter ID Card, Passport, Utility bills in the applicant's name.
• Proof of Income: Salary slips for the last three months (for salaried individuals) or Bank Statement for the last three months. ITR or Form 16 can also be submitted.

Card Review

The Max SBI Card SELECT is a popular co-branded SBI Credit Card tailored for shopping enthusiasts, particularly those who frequently shop at Landmark Group stores. It offers substantial reward points on purchases, including accelerated earnings at partner stores, dining, movies, and international spends. The welcome and renewal benefits, along with milestone rewards for annual spending, add significant value. The ability to convert SBI Reward Points to Landmark Rewards provides flexibility and enhanced redemption options. While it lacks lounge access, it excels in its core shopping benefits, making it a strong choice for individuals looking to maximize rewards on their retail and lifestyle spending within the Landmark ecosystem.

Important Product Details

• Co-branded credit card with Landmark Group (Max, Lifestyle, Home Centre, Spar, Baby Shop, EasyBuy).
• Earn 6,000 bonus reward points (worth Rs. 1,500) on annual fee payment.
• Earn 15 Reward Points per Rs. 100 spent at Landmark stores.
• Earn 10 Reward Points per Rs. 100 spent on dining, movies, and international transactions.
• Earn 2 Reward Points per Rs. 100 on other retail purchases (excluding specific categories).
• Milestone benefits include up to 12,000 bonus Reward Points on Rs. 3 Lakhs annual retail spends and additional points for Landmark store spends.
• Reward points can be converted to Landmark Rewards.
• 1% fuel surcharge waiver (max Rs. 100 per cycle) on transactions between Rs. 500 and Rs. 3,000.
• No complimentary airport or railway lounge access.
• It is a Visa Signature card.

Other Details

• Contactless Advantage:
  • Tap & Pay with Ease for effortless everyday payments.
  • Fast & Convenient for small, everyday payments.
  • Secure Transactions: Card stays in hand, Visa PayWave's unique security key ensures only one transaction is processed even if tapped multiple times.
• Global Acceptance: Accepted at over 24 million outlets globally, including 3,25,000 in India, wherever Visa is accepted.
• Cash Access Across the World: Withdraw cash from over 1 million Visa ATMs across the globe.
• Flexipay EMI: Convert eligible purchases of Rs. 2,500 or more into easy monthly EMIs.
• Add-on Cards: Empower family members (parents, spouse, children, or siblings above 18) with add-on cards.
• Easy Bill Pay Facility: Pay electricity, telephone, mobile, and other utility bills.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to this card at a lower interest rate and repay in easy EMIs.
• All taxes would be charged as applicable on all fees, interest, and charges.
• The value proposition of the co-brand product may be funded jointly by SBI Card and the co-brand partner.
• Continued use of the card will be deemed acceptance of amendments in all Terms and Conditions.
• For assistance, contact SBI Card Helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• Any disputes arising out of the Offer between the Cardholder and SBICPSL shall be subject to arbitration.
• SBICPSL may engage agents or third parties for marketing, sales, or related services.