Nature’s Basket SBI Card – Benefits, Fees & Eligibility

Nature’s Basket SBI Card

Introduction

The Nature’s Basket SBI Card is a co-branded credit card launched by SBI Cards in partnership with Nature’s Basket, a premium gourmet grocery store chain in India. This card is specifically designed for premium customers who have a refined taste and frequently purchase gourmet food items, addressing their unique lifestyle and grocery-related expenditures. Cardholders can earn accelerated reward points on purchases from Nature’s Basket stores and websites, along with regular reward points on dining, movie, entertainment, and both domestic and international spends. Additionally, the card offers welcome benefits, complimentary access to domestic airport lounges, and a fuel surcharge waiver. While the joining and renewal fee is Rs. 1,499, it is positioned as affordable for the premium segment of society it targets.

Welcome Benefits

• A gift voucher worth Rs. 1,500 from Nature’s Basket, credited upon payment of the annual fee.
• Complimentary access to the ‘Epicure’ Nature’s Basket Loyalty Program.

Fees

• Joining Fee: Rs. 1,499 + GST.
• Renewal Fee: Rs. 1,499 + GST.
• Spend-Based Waiver: The renewal fee can be waived if Rs. 2 Lakhs or more is spent using the credit card in the previous year.
• Rewards Redemption Fee: Rs. 99 per redemption request.
• Foreign Currency Markup: 3.5% on all international transactions.
• Interest Rates: 3.5% per month (equivalent to 42% annually), charged if the amount due on the credit card is not paid by the due date.
• Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations in India for transactions between Rs. 500 and Rs. 3,000. The maximum waiver is capped at Rs. 100 per statement cycle.
• Cash Advance Charges: Higher of 2.5% of the transaction amount or Rs. 500.

Rewards

Earning Reward Points

• Nature’s Basket Spends: Earn 5x Reward Points (which is 10 Reward Points) for every Rs. 100 spent at Nature’s Basket (7 Reward Points credited by SBI Card to your credit card account and 3 Reward Points credited by Nature’s Basket directly to your Nature’s Basket Loyalty account).
• Dining, Movies, Entertainment, and International Spends: Earn 5 Reward Points for every Rs. 100 spent.
• All Other Retail Spends (except fuel): Earn 1 Reward Point for every Rs. 100 spent.

Travel Benefits

• Domestic Lounge Access: Enjoy 4 complimentary visits annually to Domestic Airport Visa Lounges in India, limited to 1 visit per quarter.
• International Lounge Access: Not applicable.

Fuel Benefits

• Receive a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at any fuel station across India.
• The maximum fuel surcharge waiver is capped at Rs. 100 per statement cycle.

Milestone Benefits

• Upon achieving annual spends of Rs. 3 Lakhs in an anniversary year, receive a gift voucher worth Rs. 3,000 from a choice of premium brands such as Aldo, Inglot, Bath & Body Works, and Charles & Keith.

Other Benefits

• Zero Credit Card Lost Liability: In case of loss or theft, you are not liable for fraudulent transactions if the loss is reported immediately.
• Dining Benefits: Earn 5 Reward Points for every Rs. 100 spent on dining-related expenses.
• Movie Benefits: Earn 5 Reward Points for every Rs. 100 spent on movie-related expenses.

Rewards Redemption Guide

• Reward points can be redeemed against a wide variety of products and vouchers available through the SBI Bank’s Shop and Smile Rewards Catalogue.
• Reward points can also be converted into Nature’s Basket Points via the Nature’s Basket Loyalty Program. This conversion can be initiated by calling customer care, using the SBI mobile banking application, or logging in to the SBI Website.
• The monetary value for redemption is 4 Reward Points = Re. 1. This means 1 Reward Point is equivalent to Rs. 0.25.

Card Eligibility Criteria

• Residency: Applicant must be an Indian resident.
• Employment Status: Both salaried and self-employed individuals are eligible.
• Age:
  • Primary cardholder: Above 18 years of age.
  • Add-on cardholder: At least 18 years of age.
• Income: Must have a stable source of income.
• Credit Score: A good credit score is required for eligibility.

Documents Required

• Identity Proof: Aadhar Card, Voters’ Id, PAN Card, Passport, Driving License, etc.
• Address Proof: Aadhar Card, Utility bills, Driving license, Passport, etc.
• Income Proof: Latest salary slips, latest bank statements, or latest ITR.

Card Review

The Nature’s Basket SBI Card is a unique co-branded offering that provides significant value to cardholders who frequently shop at Nature’s Basket stores and website due to its accelerated reward points on these spends. While it also offers generic reward points on dining, movies, entertainment, and international transactions, its core strength lies in its specialized benefits for gourmet food consumers. The card comes with attractive welcome benefits, including a Nature’s Basket gift voucher and complimentary access to their loyalty program, along with milestone benefits from premium brands. Added perks like domestic lounge access and a fuel surcharge waiver enhance its appeal. Despite a seemingly higher joining and renewal fee of Rs. 1,499, this fee can be waived based on annual spending, making it a valuable card for its target premium segment. It is highly recommended for individuals whose spending patterns align with Nature’s Basket purchases.

Important Product Details

• Earn 10 Reward Points for every Rs. 100 spent at Nature’s Basket.
• Earn 5 Reward Points for every Rs. 100 spent on movies, dining, entertainment, and international transactions.
• Receive gift vouchers from Nature’s Basket as a welcome benefit.
• Receive gift vouchers worth Rs. 3,000 from premium brands like Aldo, Inglot, Bath & Body Works, and Charles & Keith as milestone benefits on annual spends of Rs. 3 Lakhs.
• Enjoy 4 complimentary visits per year to Domestic Visa Airport Lounges in India, with a limit of one visit per quarter.
• Benefit from a 1% fuel surcharge waiver (capped at Rs. 100 per statement cycle) on fuel transactions between Rs. 500 and Rs. 3,000.
• The renewal fee is waived on annual spends of Rs. 2 Lakhs or more.
• Get complimentary access to the ‘Epicure’ Nature’s Basket Loyalty Program.
• Offers Zero Credit Card Lost Liability upon immediate reporting of card loss or theft.

Other Details

• Best Suited For: Shopping.
• Reward Type: N/A (however, detailed reward point structures are provided).
• Card Rating: 4.5/5.
• Application Process:
  • Online Mode:
    • Visit the official SBI Card website.
    • Navigate to the ‘Credit Cards’ tab.
    • Select ‘Nature’s Basket SBI Card’ and click ‘Apply Now’.
    • Fill in all required details and submit necessary documents.
  • Offline Mode:
    • Visit the nearest SBI branch.
    • Fill out the credit card application form.
    • Attach all required documents and submit them to bank officials for processing.