Spar SBI Card Select
MyRupaya Ratings
Product Details
Credit Card Name :
Spar SBI Card Select
Bank Name :
State Bank Of India
Type :
Shopping Credit Card
Interest Rate :
3.50% per month (42% per annum) from the transaction date.
Eligibility :
Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.
Pros
Welecome Benefit: Get 6,000 rewards points equivelant to INR 1,500 on payment of annual fee.
Reward System: 10 point on spend of every INR 100 on online & retail landmark stores (Lifestyle, Home Centre, Max and Spar). Value of 1 point = INR 0.25 Effective store cashback rate: 2.5%. Get 10 points on spend of every INR 100 on dinning, movies & entertainment spends. Effective dining/entertainment cashback rate: 2.5%. Get 2 reward point per INR 100 spent on other retail purchases (Non fuel). Effective general cashback rate: 0.5%.
Milestone Benefits: Earn 2400 bonus reward points on annual spends of INR 25,000 across all Landmark stores. Earn 8,000 bonus reward points on annual spends of INR 75,000 across all Landmark stores. Earn 12,000 bonus reward points on annual spends of INR 150,000 across all Landmark stores.
Get 6,000 reward point worth INR 1500 on payment of renewal fees.
Cons
Low general cashback rate.
Card suited only for those individuals who purchase regularly from Landmark stores.
Pros & Cons
Welcome Benefits
Welecome Benefit: Get 12,000 rewards points equivelant to INR 3,000 on payment of annual fee.
Rewards System
Reward System: 10 point on spend of every INR 100 on online & retail landmark stores (Lifestyle, Home Centre, Max and Spar). Value of 1 point = INR 0.25. Effective store cashback rate: 2.5%. Get 10 points on spend of every INR 100 on dinning, movies & entertainment spends. Effective dining/entertainment cashback rate: 2.5%. Get 2 reward point per INR 100 spent on other retail purchases (Non fuel). Effective general cashback rate: 0.5%.
International Forex Markup
3.5%.
Welcome Benefits and Reward System
Special Features
Reward System: 10 point on spend of every INR 100 on online & retail landmark stores (Lifestyle, Home Centre, Max and Spar). Value of 1 point = INR 0.25. Effective store cashback rate: 2.5%.
Eligibility Criteria
Age: You must be minimum 21 and maximum 70 years old.
Income: You must have a stable source of income.
Credit score: A good credit score is generally required.
Benefits
Good cashback on Landmark stores.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
1. Online: This is the faster and more convenient method:
Visit the SBI Card website: Head to the official SBI Card website.
Navigate to the Spar SBI Card Select page: Find the "Personal" category and choose "Shopping" as the sub-category.
Click "Apply Now": Look for the prominent "Apply Now" button on the card page.
Fill out the application form: Provide your personal details, income information, and KYC documents like PAN, etc.
Review and submit: Carefully review the application details.
Await decision: You'll receive an instant preliminary decision based on the information provided.
2. Offline: This method involves visiting a SBI branch and completing the application process:
Visit an SBI branch: Find a nearby SBI branch and express your interest in applying for the SBI Card Select.
Fill out the application form: A bank representative will assist you with the form and guide you through the process.
Submit the form and documents: Provide all requisite documents such as PAN, Aadhaar, and income proof along with the completed application.
Await decision: The bank will process your application and inform you about the final decision through your preferred communication channel.
Contact Details
l 1860 500 1290, 1860 180 1290, 39 02 02 02(Prefix local the STD code) or 1800 180 1290 (Toll Free)
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welecome Benefit: Get 6,000 rewards points equivelant to INR 1,500 on payment of annual fee.
Reward System: 10 point on spend of every INR 100 on online & retail landmark stores (Lifestyle, Home Centre, Max and Spar). Value of 1 point = INR 0.25 Effective store cashback rate: 2.5%. Get 10 points on spend of every INR 100 on dinning, movies & entertainment spends. Effective dining/entertainment cashback rate: 2.5%. Get 2 reward point per INR 100 spent on other retail purchases (Non fuel). Effective general cashback rate: 0.5%.
Milestone Benefits: Earn 2400 bonus reward points on annual spends of INR 25,000 across all Landmark stores. Earn 8,000 bonus reward points on annual spends of INR 75,000 across all Landmark stores. Earn 12,000 bonus reward points on annual spends of INR 150,000 across all Landmark stores.
Get 6,000 reward point worth INR 1500 on payment of renewal fees.
Low general cashback rate.
Card suited only for those individuals who purchase regularly from Landmark stores.
Spar SBI Card Select Review
The USP of the card is that it offers 2.5% cashback on landmark stores (Lifestyle, Home Centre, Max and Spar). Card also offers good welcome benefits and milestone benefits. Card is best suited only for Landmark fans.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Annual Fee (one time): INR 1499 + Taxes.
Renewal Fee (per annum): INR 1499 + Taxes.
Cash Advance fees: 2.5% or Rs. 500 whichever is higher at domestic ATMs and 2.5% or Rs. 500, whichever is higher at international ATMs.
Interest Rate: Up to 3.50% per month (42% per annum) from the transaction date.
Late Payment charges will be applicable if Minimum Amount Due is not paid by the payment due date. NIL for Outstanding Amount on payment date from Rs.0-Rs.500, Rs. 400 for Outstanding Amount greater than Rs. 500 & up to Rs. 1000; Rs. 750 for Outstanding Amount greater than Rs. 1000 & up to Rs. 10,000; Rs. 950 for Outstanding Amount greater than Rs. 10,000 up to Rs. 25,000; Rs. 1100 for Outstanding Amount greater than Rs. 25,000 & up to Rs. 50,000; Rs. 1300 for Outstanding Amount greater than Rs. 50,000.
Reward Redemption Fees: INR 99/- per redemption.
Fuel Surcharge
1% Fuel Surcharge waiver for each transaction between INR 500 and INR 4,000. Maximum Surcharge waiver of INR 100 per statement cycle, per credit card account.
Billing Cycle
30 days.