SBI offers so many credit cards for their customers for their uses and the Central SBI Select+ Card is one of them. The card is specially designed for shopping fashion products. The card has so many benefits like joining benefits, select points, renewal benefits, milestone benefits, contactless card features, fraud liability cover, cash on the go, Utility bill payments facility, flexipay, balance transfer on EMI, easy money facility, global acceptance, add-on card, emergency card replacement, SBI Card drop box locator etc.
Lets discuss about the card in details-
- Citizenship: Applicant should be an Indian.
- Occupation: The applicant should be salaried or self employed.
- Age: The applicant should be 21 years old and not more than 70 years old for salaried applicants.
The age should be between 40 years and 70 years for self employed applicants.
And for pensioners age should be 21years to 70 years.
- Income : Applicant should have a good source of income.
- Identity proof: Aadhaar card, electricity bill, telephone bill, water bills etc.
- Income proofs:
For salaried applicants: Last 3 month’s bank statement, salary slip of last 3 months or any document of income.
For self employed applicants: Recent Income Tax Returns, Balance sheets.
- PAN card
Annual fee – Rs.2999 + Taxes
Renewal fee/ annum – Rs.2999.
There is no add-on card fee.
Privileges on the Central SBI Select+ Card:
- Joining Benefits:
- If you choose this card you will get central e-gift vouchers worth Rs.3000 as joining benefits. After paying the joining fees you will get the vouchers on your mobile number and email which are registered in the Bank. You can choose the gift vouchers by replying the SMS or the mail.
- You will get complimentary m-coupons worth Rs.500 in every month up to 3 months.
- The validity of these vouchers will be 3 months.
- You will get these vouchers in your mobile number in between 1 months of paying the joining fees.
- Renewal and Milestone Benefits:
- If you spend minimum 6 lakhs or more in a year you will get select points as milestone benefits worth Rs.4000.
- If you spend 1.5 lakhs annually you will get 6000 select points.
- If you spend Rs.3 lakhs annually you will get 10000 select points.
- And if you spend Rs.6 lakhs in a year you will get 16000 select points.
- You will get 12000 select points worth Rs.3000 as renewal benefits after paying the renewal fees.
- Select Points:
- If you spend Rs.100 at Central store you will get 20 select points each time.
- If you spend Rs.100 for dining and movies you will get 10 select points.
- If you spend Rs.100 for all other retail purchases except fuel transaction you will get 2 select points.
You can convert this select points into cash ( 1 select points is equals to Rs.0.25.
- Instant Redemptions:
- You can redeem your select points at central stores.
- You can redeem your select points whatever you want. There is no limit of minimum select points.
- You can use this for shopping.
- Contactless Advantage:
- You can use the Card for your daily purchases. For transaction, go to any secure reader and wave your card smoothly.
- It is fast and convenient that it is very unnecessary to give your card to anybody for everyday small purchases.
- It is very secure. If you transact without contact , the card will always attached in your hand. The card has a skimming facility which helps you to prevent any fraud of the card and also save the card from losing.
- Lost Card Liability Cover: If you lost your card you have to report to the customer care center. SBI will provide you a lost card liability protection if any transaction occurred after the losing of the card.
- There is a lost card liability coverage of Rs.1 lakh.
- You can avail this offer 48 hours prior of reporting the loss of card and 7 days after reporting the loss of the card.
- Cash on the Go: You will be able to withdraw money from more than 1 million Visa ATMs all around the world.
- Utility Bill Payment Facility: You can use your card for your utility bill payments such as electricity bill, water bill, telephone bill, etc.
- Flexipay : If you purchase worth Rs.2500 or more with the help of your card , you can convert your transaction in easy monthly instalments. You have to pay very low interest. To use this facility ( convert into flexipay) you have to log in to sbicard.com with your username and password in between 1 month of your purchase.
- Balance transfer on EMI: You can pay your EMI by your card to gain a low rate of interest as well as you can save money while you pay your EMIs through your card.
You can transfer the outstanding balance of card of other’s bank to your Central SBI Select+ card. There is a very low interest rate. Thus you can save money while paying the dues of your card.
- Easy Money Facility : By the easy money facility it is possible to get a draft or cheque against your card limit.
You will be able to get the Facility to your doorstep.
For booking of easy money you have to log in to sbicard.com with your username and password.
- Worldwide Acceptance: You can use your card in all around the world. You will be able to use your card in more than 24 million outlets around the world and 3.25 lakhs outlets in India.
- Add-on Cards : You can use add-on cards for your family ( parents, spouse, children, brothers and sisters whose age must be 18 years) for their uses.
- Emergency Card Replacement: You can replace your card anywhere around the world.
- SBI Dropbox Locator: You can search the nearest SBI card drop box from your location. To know the location you have to type PIN<space>your 6 digits pin code and send this to 56767 via SMS. You will get the list .
- Interest free period 20days to 50 days.
- Finance charges 3.35% per month and 40.2% per year.
- Cash advance fees 2.5% of the amount at SBI and other ATMs (minimum Rs.300) and 2.5% for International ATMs.
- Cash payment fees Rs.199.
- Rs.100 for Cheque pick up fee
- Cheque payment fee Rs.100.
- Payment dishonor fee 2% of transaction amount ( minimum Rs.500).
- Rs.100 for statement retrieval .
- Rs.225 per charge-slip for charge slip retrieval.
- Late payment charges:
- 0 for due of Rs.0 to Rs.500
- Rs.400 for due of Rs.500 or more and upto Rs.1000
- Rs.750 for due of Rs.1000 or more and upto Rs.10000
- Rs.950 for due of Rs.10000 or more.
- Rs.100 for card replacement.
- Over limit charges 2.5% of the amount ( minimum Rs.500)
- Rs.0 for emergency card replacement at abroad.
- Foreign currency mark-up 3.5%.
- Rs.99 for reward redemption fees.
Customer Care: If you want to know more about the card you can contact in this 24×7 helpline number 1800 180 1290 or 39 02 34 56.
100X Gain Rating: 4 stars.
Final Opinion: If you want a credit card for your latest fashion shopping then the Central SBI Select+ Card will give you the best opportunities. You will love to use this card as it gives select points for your spending. Thus you can save money by using these select points.