SBI Shaurya Select Credit Card – Benefits, Fees & Eligibility

Introduction

The SBI Shaurya Select Credit Card, issued by SBI, is a specialized offering exclusively designed for individuals serving in the Indian defense services, including the Army, Navy, Paramilitary, and Airforce. Positioned as a mid-range card, it comes with a zero joining fee and offers a robust rewards program, allowing cardholders to earn up to 10 Reward Points on every ₹100 spent across categories like dining, movies, groceries, and departmental stores. Key differentiating benefits include complimentary personal accident insurance, a fuel surcharge waiver, and valuable milestone benefits such as e-vouchers from Pizza Hut, Yatra, or Pantaloons, alongside bonus Reward Points upon card renewal.

Fees

• Joining Fee: Nil (First year fee waived off).
• Annual Fee: ₹1,499 + taxes (from the second year onwards).
• Renewal Fee: ₹1,499 + taxes (per annum, from the second year onwards).
• Spend-Based Waiver: The renewal fee is waived off on spending ₹1,50,000 or more in the previous anniversary year.
• Rewards Redemption Fee: ₹99 on every redemption request.
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 2.75% per month (33% annually).
• Fuel Surcharge Waiver: 1% fuel surcharge waiver on all fuel transactions between ₹500 and ₹4,000. The maximum waiver is capped at ₹250 per statement cycle.
• Cash Advance Charges: 2.5% of the withdrawn amount or a minimum of ₹500.
• Add-on Fee: Nil per annum.

Rewards

• Reward Rate:
  • Earn 10 Reward Points on every ₹100 spent on Dining, Groceries, Departmental Stores (including CSD Canteen), and Movies. This is equivalent to 5X Reward Points.
  • Earn 2 Reward Points on every ₹100 spent on all other categories.
  • No Reward Points are earned on fuel transactions and cash withdrawals.
• Milestone Benefits:
  • Receive a Pizza Hut e-voucher worth ₹500 on spending ₹50,000 or more in a calendar quarter.
  • Receive an e-Gift Voucher worth ₹7,000 from Yatra or Pantaloons on annual spends of ₹5 lakhs or more in an anniversary year.
• Renewal Bonus: Earn 1,500 bonus Reward Points every year upon payment of the renewal fee.
• Domestic Lounge Access: Enjoy 4 complimentary domestic airport lounge visits every year, with a maximum of one visit per quarter.
• Insurance Benefits:
  • Complimentary Personal Accidental Insurance Cover of ₹10 lakhs (offered by RuPay).
  • Zero Liability Protection.
• Concierge Services: Enjoy 24x7 concierge services for various needs including gift delivery, flower delivery, restaurant referral, courier service, car rental & limousine referral, and more.

Rewards Redemption Guide

• Reward Points can be redeemed against the card’s outstanding balance.
• The value of 1 Reward Point is ₹0.25 (or 4 Reward Points = ₹1).
• Reward Points can also be redeemed against a wide array of gifts available from the SBI Card Rewards Catalogue.

Card Eligibility Criteria

• Eligibility: The card is exclusively for Indian defense personnel, including those serving in the Army, Navy, Airforce, and Paramilitary services.
• How to Apply:
  • Online: Apply through the SBI Card website by clicking "Apply Now," filling out the form, completing KYC, and submitting the application for approval.
  • Offline: Visit the nearest SBI branch with all required documents and fill in the physical application form.

Card Review

The SBI Shaurya Select Credit Card is a commendable offering specifically tailored for Indian defense personnel, providing a sense of pride with its service branch embossing. It stands out with a zero joining fee and a strong rewards structure, offering accelerated Reward Points on essential spending categories like dining, groceries, movies, and departmental stores. The card delivers significant value through its milestone benefits, including e-vouchers for Pizza Hut, Yatra, or Pantaloons, and a generous renewal bonus. Additional perks like complimentary personal accident insurance, domestic airport lounge access, and a fuel surcharge waiver further enhance its appeal. While the card offers extensive benefits, potential drawbacks include a relatively high foreign currency markup of 3.5% and an annual interest rate of 33%. Overall, it is an excellent choice for eligible defense personnel seeking a rewarding credit card for their everyday and lifestyle spends.

Important Product Details

• Exclusive credit card for defense personnel (Army, Navy, Paramilitary, Airforce).
• Nil joining fee.
• Annual/Renewal fee of ₹1,499 + taxes from the second year, waived on annual spends of ₹1.5 lakhs or more.
• Earn 10 Reward Points per ₹100 on Dining, Groceries, Departmental Stores (including CSD Canteen), and Movies.
• Earn 2 Reward Points per ₹100 on all other spends (excluding fuel transactions and cash withdrawals).
• 1,500 bonus Reward Points on card renewal.
• Milestone benefits include a ₹500 Pizza Hut e-voucher on ₹50,000 quarterly spend and a ₹7,000 Yatra/Pantaloons e-voucher on ₹5 lakhs annual spend.
• 4 complimentary domestic airport lounge visits per year (max 1 per quarter).
• Complimentary Personal Accidental Insurance Cover of ₹10 lakhs.
• 1% fuel surcharge waiver on transactions between ₹500 and ₹4,000, capped at ₹250 per statement cycle.
• Foreign currency markup of 3.5%.
• Interest rate of 2.75% per month (33% annually).
• Rewards redemption fee of ₹99 per request.
• 24x7 Concierge Services available.
• Nil add-on card fee.
• Zero Liability Protection.

Other Details

• The card comes embossed with the name of the cardholder's branch of service.
• Global Acceptance: Accepted at over 44 million merchant locations in 190 countries globally and 3.7 million terminals in India. It is accepted internationally at ATMs displaying Pulse, Discover & Diners Club logos.
• Cash on the Go: Allows cash withdrawals from over 2 million ATMs across 190 countries/territories, including 43,000+ SBI ATMs in India.
• Flexipay EMI: Convert eligible purchases of ₹2,500 or more into easy monthly EMIs.
• Add-on Cards: Empower family members (parents, spouse, children, or siblings above 18 years of age) with add-on cards at no additional fee.
• Easy Bill Pay Facility: Pay electricity, telephone, mobile, and other utility bills conveniently.
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to the SBI Shaurya Select Credit Card at a lower interest rate and repay in easy EMIs.
• Information regarding fees and other applicable charges, as well as detailed terms and conditions, are available in the Most Important Terms & Conditions document and other related legal documents.