South Indian Bank SBI Platinum Credit Card – Benefits, Fees & Eligibility

Introduction

The South Indian Bank SBI Platinum Credit Card is a co-branded mid-range to premium credit card issued by South Indian Bank in partnership with SBI Card. It is designed to enhance lifestyle experiences through exclusive rewards and privileges. Key differentiating benefits include a generous welcome e-Gift Voucher, accelerated reward points on dining, departmental stores, and international spends, and comprehensive lounge access benefits both domestically and internationally.

Welcome Benefits

• Welcome e-Gift Voucher worth Rs. 3,000.
• Choose from an array of travel and lifestyle brands such as Yatra, Hush Puppies/Bata, Westside, Aditya Birla Fashion, Shopper Stop, and many more.
• The voucher link will be sent to the cardholder’s registered email ID & mobile number within 21 days, post realization of the annual fees.
• Cardholders will need to log in to the portal using their registered mobile number and OTP authentication to redeem the voucher.

Fees

• Joining Fee: Rs. 2,999 + taxes
• Renewal Fee (per annum): Rs. 2,999 + taxes
• Add-on Card Fee (per annum): Nil
• Fuel Surcharge Waiver: Enjoy a 1% Fuel Surcharge Waiver on every transaction between Rs. 500 and Rs. 4,000 at all petrol pumps across India. The maximum waiver is Rs. 250 per statement cycle, per credit card account.
• Priority Pass Usage Fee: A usage fee of $27 + taxes will be charged to the South Indian Bank SBI Platinum Credit Card every time you visit an airport lounge using the Priority Pass.

Rewards

• Accelerated Reward Points:
  • 5X Reward Points on Dining, Departmental Stores, and International spends.
  • 2 Reward Points for every Rs. 100 spent on other categories.
• Reward Point Value: 4 Reward Points = Re. 1.
• Monthly Capping: Earn up to 7,500 Reward Points per month. After reaching this capping limit, 2 Reward Points for every Rs. 100 spent will continue to accrue.

Rewards Redemption Guide

• Redeem Reward Points against outstanding credit card dues.
• Redeem Reward Points for exciting items from the Rewards Catalogue.

Card Review

The South Indian Bank SBI Platinum Credit Card is well-suited for individuals who frequently engage in dining, shopping at departmental stores, and international travel, and who value premium lifestyle benefits. The card offers significant value through its welcome and milestone e-Gift Vouchers, coupled with accelerated rewards on key spending categories. The inclusion of both domestic lounge access and a complimentary Priority Pass membership enhances its appeal for travelers.

Pros:

• Generous welcome e-Gift Voucher of Rs. 3,000.
• Accelerated reward points on popular categories like dining, departmental stores, and international spends.
• Complimentary domestic airport lounge access (2 visits per quarter).
• Complimentary Priority Pass membership for international lounge access.
• Milestone benefits offering additional e-Gift Vouchers on achieving spend targets.
• Nil add-on card fee.
• Includes a complimentary Credit Card Fraud Liability Cover of Rs. 1 lakh.
• Offers golf benefits with discounts on Green Fees.
• Renewal gift available upon meeting a spend threshold.

Cons:

• The annual and renewal fees of Rs. 2,999 + taxes are not explicitly stated to be waivable based on spend.
• Priority Pass lounge visits incur a usage fee of $27 + taxes, despite the complimentary membership.
• Accelerated reward points are capped at 7,500 per month.
• The complimentary Priority Pass membership is valid for only 2 years.

Important Product Details

• Positive Highlights:
  • Rs. 3,000 e-Gift Voucher as a welcome benefit, redeemable across various lifestyle and travel brands.
  • 5X Reward Points on Dining, Departmental Stores, and International spends.
  • 2 complimentary domestic airport lounge visits every quarter in India.
  • Complimentary Membership to Priority Pass Program worth $99, providing access to over 1,000 airport lounges worldwide.
  • Rs. 3,000 e-Gift Voucher on annual spends of Rs. 4 lakhs and Rs. 5 lakhs as a milestone benefit.
  • 1% Fuel Surcharge Waiver on transactions between Rs. 500 and Rs. 4,000, with a maximum waiver of Rs. 250 per statement cycle.
  • Nil Add-on Card Fee.
  • Complimentary Credit Card Fraud Liability Cover of Rs. 1 lakh.
  • Access to more than 300 golf courses across the world with a 30% discount on Green Fee.
  • Renewal Gift of Rs. 3,000 vouchers on Rs. 2 lakhs spent in the previous year.
  • Global acceptance at over 2 million Visa outlets worldwide.
• Negative Highlights:
  • Annual Fee and Renewal Fee of Rs. 2,999 + taxes are applicable and not explicitly waivable.
  • Priority Pass lounge visits incur a usage fee of $27 + taxes per visit.
  • Accelerated reward points are capped at 7,500 per month.
  • Complimentary Priority Pass membership is valid for 2 years only.

Other Details

• Milestone Benefits: Receive a Rs. 3,000 e-Gift Voucher on annual spends of Rs. 4 lakhs and another Rs. 3,000 e-Gift Voucher on annual spends of Rs. 5 lakhs. These vouchers are redeemable with brands like Yatra, Hush Puppies/Bata, Aditya Birla Fashion, Westside, and Shoppers Stop.
• Lounge Benefits:
  • Enjoy 2 Complimentary Domestic Airport Lounge visits every quarter in India.
  • Receive Complimentary Membership to the Priority Pass Program worth $99.
  • A usage fee of $27 + taxes will be charged for every visit to an airport lounge using the Priority Pass.
  • Gain access to over 1,000 Airport Lounges worldwide.
  • Only Primary Cardholders are eligible for Priority Pass.
  • The complimentary Priority Pass membership will be valid for 2 years only.
• Renewal Gift: Get Rs. 3,000 vouchers on Rs. 2 lakhs spent in the previous year, redeemable with brand partners such as Yatra, Hush Puppies/Bata, Aditya Birla Fashion, Westside, and Shoppers Stop.
• True Lifestyle (Golf): Access to more than 300 golf courses across the world with a 30% discount on Green Fee.
• Cash on the Go: Withdraw cash from over 1 million Visa ATMs worldwide.
• Easy Bill Pay Facility: Conveniently pay electricity, telephone, mobile, and other utility bills.
• Flexipay EMI: Convert eligible purchases into easy monthly EMIs.
• Fraud Liability Cover: Complimentary Credit Card Fraud Liability Cover of Rs. 1 lakh. This cover is applicable for a period of 48 hours prior to reporting of loss, to 7 days post reporting of loss. To initiate a claim, report loss to the SBI Card Helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
• Balance Transfer on EMI: Transfer outstanding balances from other banks’ credit cards to your South Indian Bank SBI Platinum Credit Card at a lower interest rate and repay in easy EMIs. This facility can be availed by logging into your account.
• Online Railway Tickets Booking: Book railway tickets online and have them delivered to your doorstep.
• Global Acceptance: The card is accepted at over 2 million Visa outlets worldwide and over 2,85,000 outlets in India.
• Add-on Cards: Empower your family members with add-on cards.
• General Information:
  • All applicable taxes will be charged on all fees, interest, and other charges.
  • This is a co-brand product, and there may be fee and revenue sharing between SBI Card and the co-brand partner.
  • Continued use of the card will be deemed acceptance of any amendments in the Terms and Conditions.
  • For assistance, contact the SBI Card helpline at 1860 180 1290 or 39 02 02 02 (prefix local STD code).
  • All information is subject to change at the discretion of SBICPSL.
  • To apply for the South Indian Bank SBI Platinum Credit Card, visit the nearest South Indian Bank Branch.