Reliance SBI Card – Benefits, Fees & Eligibility

Reliance SBI Card

The Reliance SBI Card is an entry-level shopping credit card designed for individuals who frequently shop at Reliance Retail Stores. With a reasonable joining fee of Rs. 499, this card offers substantial welcome benefits including Reliance Retail Vouchers and additional discount vouchers. Cardholders can earn accelerated reward points on spends at Reliance stores, as well as on dining and movie expenses. It also provides milestone benefits in the form of vouchers and an annual fee waiver for achieving spending targets, making it a valuable option for loyal Reliance customers. As a RuPay credit card, it also offers the convenience of linking to UPI applications for seamless payments.

Welcome Benefits

• Get Reliance Retail Vouchers worth Rs. 500 upon payment of the joining fees.
• Receive additional discount vouchers valued at Rs. 3,200 for various participating Reliance Retail Stores.
• Vouchers are delivered within 45 days after the realization of joining fees.
• These discount vouchers are for specific Reliance brands and come with minimum purchase value conditions:
  • Reliance Trends - Apparel and Footwear: Rs. 500 voucher on minimum purchase of Rs. 2,499.
  • AJIO: Rs. 250 voucher on minimum purchase of Rs. 1,499.
  • Centro: Rs. 500 voucher on minimum purchase of Rs. 3,000.
  • Zivame/Clovia: Rs. 300 voucher on minimum purchase of Rs. 1,199.
  • Coverstory: Rs. 250 voucher on minimum purchase of Rs. 1,499.
  • JioMart: Rs. 100 voucher on minimum purchase of Rs. 500.
  • Urban Ladder: Rs. 500 voucher on minimum purchase of Rs. 4,999.
  • Netmeds (Online): Rs. 300 voucher on minimum purchase of Rs. 1,499.
  • Fashion Factory: Rs. 500 voucher on minimum purchase of Rs. 1,499.
• Each welcome discount voucher can be used only once, and the final payment for redemption must be made using the Reliance SBI Card.

Fees

• Joining Fee: Rs. 499 + Taxes (or GST)
• Renewal Fee (per annum): Rs. 499 + Taxes (or GST), applicable from the second year onwards.
• Spend-Based Waiver: The renewal fee is reversed if annual spends for the previous year are equal to or greater than Rs. 1,00,000.
• Add-on Fee (per annum): Nil.
• Rewards Redemption Fee: Rs. 99.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.5% per month (equivalent to 42% annually).
• Fuel Surcharge Waiver:
  • 1% surcharge waiver across all petrol pumps in India.
  • Applicable for transactions between Rs. 500 and Rs. 4,000 (exclusive of GST and other charges).
  • Maximum fuel surcharge waiver of Rs. 100 per statement cycle per credit card account (equivalent to Rs. 1,200 annually).
• Cash Advance Charges: 2.5% of the transaction amount or a minimum of Rs. 500.
• All applicable taxes would be charged on all fees, interest, and other charges.

Rewards

• Reward Point Earning Structure:
  • 5 Reward Points per Rs. 100 spent on participating Reliance Retail Stores (except on UPI payments). This is subject to Reliance Retail Stores MIDs being received from the partner and mapped in the SBIC system.
  • 5 Reward Points per Rs. 100 spent on Dining & Movies.
  • 1 Reward Point per Rs. 100 spent on other retail purchases (except fuel, property rental, wallet upload).
  • 1 Reward Point per Rs. 100 on participating Reliance Retail Stores when payment is made through UPI.
• Milestone Benefits (Reliance Retail Vouchers):
  • Rs. 500 worth Reliance Retail Voucher on annual spends of Rs. 25,000 at participating Reliance Retail Stores.
  • Rs. 750 worth Reliance Retail Voucher on annual spends of Rs. 50,000 at participating Reliance Retail Stores.
  • Rs. 1,000 worth Reliance Retail Voucher on annual spends of Rs. 80,000 at participating Reliance Retail Stores.
  • Milestone benefits are subject to Reliance MID availability on the SBI Card system.
• Instant Discounts & Offers at Reliance Retail Stores:
  • Reliance Trends - Apparel and Footwear: 5% instant discount up to Rs. 250 per month.
  • AJIO: 5% instant discount up to Rs. 250 per month.
  • CENTRO: 5% instant discount up to Rs. 250, with a maximum of Rs. 1,000.
  • Zivame/Clovia: 5% instant discount up to Rs. 250, with a maximum of Rs. 250.
  • Coverstory: 5% instant discount up to Rs. 250, with a maximum of Rs. 250.
  • Groceries - Offline Stores: Earn 1 Reliance One Point (R Point) on every Rs. 200 spent.
  • Urban Ladder: 5% instant discount up to Rs. 250 per month.
  • JioMart: 5% Cashback in JioMart Wallet up to Rs. 250 per month.
  • Payment must be made through Reliance SBI Card to avail these discounts.

Rewards Redemption Guide

• Each Reward Point is equivalent to Rs. 0.25.
• Reward Points can be redeemed against Reliance Retail Vouchers.

Card Review

The Reliance SBI Card is an excellent entry-level credit card, particularly for individuals who frequently shop at Reliance Retail Stores, dine out, or watch movies. It comes with a low and reasonable joining fee of Rs. 499, which is offset by attractive welcome benefits including Reliance Retail Vouchers and additional discount vouchers worth a total of Rs. 3,700.

Pros:

• Low and reasonable joining fee of Rs. 499.
• Accelerated earning of 5 Reward Points per Rs. 100 spent on dining and movies.
• Earns 5 Reward Points per Rs. 100 spent at participating Reliance Retail Stores.
• Offers significant welcome benefits with Reliance Retail Vouchers and discount vouchers.
• Provides milestone benefits in the form of Reliance Retail Vouchers.
• Renewal fee waiver on achieving annual spends of Rs. 1 lakh.
• Being a RuPay Credit Card, it can be linked to UPI applications for convenient payments.

Cons:

• Does not offer complimentary airport lounge access, which some other entry-level cards might provide.
• The primary benefits and accelerated rewards are heavily focused on Reliance-affiliated stores and specific categories (dining, movies), making it less rewarding for general spending outside these areas.

Overall Verdict: This card is most suitable for customers who regularly make purchases from Reliance stores, or frequently spend on dining and movies. Its low fees, strong reward structure in partner categories, and spend-based benefits offer good value for money for its target audience. The ability to link with UPI further enhances its convenience.

Important Product Details

• Affordable Fees: Annual fee and joining fee of Rs. 499 + taxes.
• Attractive Welcome Benefits: Includes Rs. 500 Reliance Retail Voucher and additional discount vouchers worth Rs. 3,200.
• Accelerated Rewards: Earn 5 Reward Points per Rs. 100 on spending at Reliance Retail Stores (excluding UPI) and on dining & movies.
• General Spends: 1 Reward Point per Rs. 100 on other retail purchases.
• Reward Point Value: Each Reward Point is valued at Rs. 0.25.
• Milestone Vouchers: Receive Reliance Retail Vouchers worth up to Rs. 1,000 on achieving specific annual spending milestones (Rs. 25,000, Rs. 50,000, Rs. 80,000).
• Annual Fee Waiver: The annual fee can be waived upon annual spends of Rs. 1,00,000 in the previous year.
• Fuel Surcharge Waiver: Enjoy a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 4,000, capped at Rs. 100 per statement cycle.
• UPI Linkage: As a RuPay card, it can be linked to UPI applications for easy payments, earning 1 Reward Point per Rs. 100 on Reliance Retail Stores via UPI.
• No Lounge Access: The card does not offer complimentary domestic or international lounge access.
• Exclusions for Rewards: No Reward Points are accrued for rental payments, fuel transactions, and wallet reloads.
• Contactless Payments: Supports contactless transactions for fast and secure daily purchases.
• Worldwide Acceptance: Usable at over 24 million outlets globally, including 3,25,000 in India, wherever Visa or MasterCard is accepted.
• Add-on Cards: Available for family members (parents, spouse, children, siblings) aged 18 and above, with no annual fee.
• Easy EMI Options: Offers Balance Transfer on EMI to consolidate other credit card dues at a lower interest rate, and Flexipay to convert purchases of Rs. 2,500 or more into EMIs.
• Utility Bill Payments: Convenient facility to pay electricity, telephone, mobile, and other utility bills.
• Cash on the Go: Withdraw cash from over 1 million Visa or MasterCard ATMs worldwide.

Other Details

• Terms and Conditions: Detailed Terms and Conditions and Usage Directions are available for reference.
• Contactless Advantage:
  • Facilitates easy daily purchases by simply waving the card at a secure reader.
  • Offers fast and convenient transactions, eliminating the need for cash or coins for small purchases.
  • Provides enhanced security as the card remains in the cardholder's hand during a transaction, reducing the risk of card loss and skimming.
  • A unique security key feature ensures only one transaction goes through, even if the card is waved multiple times.
• Add-on Cards: Family members including parents, spouse, children, or siblings above the age of 18 can be empowered with add-on cards.
• Cash on the Go: Cash can be withdrawn from over 1 million Visa or MasterCard ATMs across the globe.
• Utility Bill Payment Facility: Electricity, telephone, mobile, and other utility bills can be paid using the Easy Bill Pay facility.
• Balance Transfer on EMI:
  • Allows transfer of outstanding balances from other bank's credit cards to the Reliance SBI Card.
  • Cardholders can avail a lower interest rate and convert the balance into EMIs.
  • This service can be accessed by logging into sbicard.com with a user ID and password.
• Flexipay:
  • Allows conversion of purchases of Rs. 2,500 or more into easy monthly installments.
  • This option is available by logging into sbicard.com within 30 days of the purchase.
• Order of Payment Settlement: Specific details regarding the order of payment settlement are available.
• Things to Know:
  • Cheques payable outside clearing zones are not accepted; only local cheques or drafts payable in Delhi are accepted.
  • All applicable taxes will be charged on fees, interest, and other charges.
  • The value proposition of this co-brand product may be jointly funded by SBI Card and Reliance, involving fee and revenue sharing between the parties.
  • Information is subject to change at the discretion of SBICPSL.
• Customer Assistance: For assistance, call the SBI Card helpline at 39 02 02 02 (prefix local STD code) or 1860 180 1290.
• Application Process: To apply, click the "Apply Now" button and keep documents like PAN Card and Aadhaar Card ready.
• UPI Functionality: The card is a RuPay Credit Card, allowing it to be linked to UPI applications for payments.