Central SBI Select Credit Card

The SBI Select Card, issued jointly by the State Bank of India and Central Stores, is a shopping credit card designed to provide a diverse array of benefits. Beyond exclusive shopping perks, it extends advantages in areas like balance transfers and contactless technology. An annual fee of Rs.750 is applicable, along with an interest rate of either Rs.25 or 3.35% per month, whichever is greater from the transaction date.

Key Highlights of Central SBI Select Credit Card

  1. Receive a complimentary e-gift voucher valued at Rs.750.
  2. Earn 10 Select points for every Rs.100 spent at Central Stores.
  3. Get 5 Select points for every Rs.100 spent on dining and movies.
  4. Obtain Select points worth Rs.2,000 upon spending Rs.3 lakh in a year.
  5. Enjoy instant redemption of Select points at any Central store.
  6. Receive Select points worth Rs.750 for annual spends of Rs.75,000 or upon payment of the renewal fee.

Features and Benefits of Central SBI Select Credit Card

The Central SBI Select Credit Card offers several features and benefits:

1. Welcome Benefit:

  • Receive a Rs.750 e-gift voucher upon payment of the joining fee.
  • Get 3 complimentary m-coupons of Rs.250 each for the first 3 months.

2. Reward Point Benefits:

  • Earn 10 Select Points for every Rs.100 spent at Central Stores.
  • Receive 1 Select Point for every Rs.100 spent on retail expenses (excluding fuel).
  • Get 5 Select Points for every Rs.100 spent on movies and dining.

3. Renewal and Milestone Benefits:

  • Obtain Select Points worth Rs.2,000 on annual spends of Rs.3 lakh or more.
  • Receive 3,000 Select Points worth Rs.750 on paying the renewal fee or spending Rs.75,000 in a year.
  • Earn 2,000 Select Points on spending Rs.75,000 in a year.
  • Get 6,000 Select Points on spending Rs.1.5 lakh in a year.
  • Receive 8,000 Select Points on spending Rs.3 lakh in a year.

4. Contactless Technology: The card is equipped with contactless technology, designed for limited contact situations.

5. Flexipay Benefits: Convert transactions above Rs.2,500 into equated monthly installments for easier payment.

6. Balance Transfer Benefits: Transfer outstanding balances to another card with a lower interest rate.

7. Add-on Benefits: Add-on credit cards available for family members above 18 years of age.

8. Emergency Card Replacement: SBI provides a 24/7 helpline for emergency card replacement worldwide.

9. Worldwide Acceptance: Central SBI Select Card can be used in over 24 million outlets worldwide, including 3.25 lakh outlets in India.

10. Easy Money: Obtain cheques and drafts using the Easy Money facility.

11. Easy Bill Pay: Use the Easy Bill Pay feature to pay telephone bills, electricity bills, etc.

12. Anytime Cash Withdrawal: Cash withdrawal available anytime from over 1 million Visa ATMs worldwide.

13. Locate SBI Card drop box: Type ‘PIN’ followed by the six-digit area pin code, and send the SMS to 56767.

Central SBI Select Credit Card Fees and Charges

Explore the fee structure for the Central SBI Select Credit Card and discover the financial advantages that come with it.

  1. Annual Fee (one time): Rs. 750
  2. Renewal Fee (per annum): Rs. 750
  3. Add-on Card Fee (per annum): Nil
  4. Finance Charges: 3.50% per month or 42% p.a.
  5. Cash Advance: Up to 80% of the credit limit
  6. Cash Advance Fee: 2.5% or Rs. 500 (whichever is higher)
  7. Cheque Payment Fee: Rs. 100
  8. Statement Retrieval: Rs. 100 per statement
  9. Overlimit Charges: 2.5% or Rs. 600 (whichever is higher)
  10. Foreign Currency Transaction:
  • 1.99% (For Aurum and Elite)
  • 3.50% (For all cards except Aurum and Elite)

Eligibility Criteria for Central SBI Select Credit Card

Here are essential criteria for applying for an Central SBI Select Credit Card:

1. Age:

  • The primary applicant needs to be at least 18 years old.
  • Some banks may require a minimum age of 21 to apply for a credit card.

2. Nationality: The applicant must be a citizen of India or a non-resident Indian (NRIs may also be eligible for credit cards from certain banks).

3. Employment Status:

  • The applicant should be either salaried or self-employed.
  • A steady source of income is a prerequisite for eligibility.

4. Income: Meeting the minimum income requirement set by the bank is crucial for card approval.

5. Credit Score:

  • A good CIBIL score is essential for approval.
  • A clean credit history with no defaults enhances the chances of a successful application.

Documents Required for Central SBI Select Credit Card

To apply for the Central SBI Select Credit Card, you will typically need to provide the following documents:

1. Identity Proof:

  • Aadhaar Card
  • PAN Card
  • Driving License
  • Voter ID
  • Passport

2. Income Proof:

  • Latest salary slips (for salaried individuals)
  • Income Tax Return (ITR) for the last 2-3 years (for self-employed individuals)

3. Residence Proof:

  • Aadhaar Card
  • Utility Bills
  • Driving License
  • Voter ID
  • Passport

How To Apply for Central SBI Select Credit Card?

Follow these steps to apply for the Central SBI Select Credit Card:

1. Visit the SBI Card Official Website: Go to the official website of SBI Card using a web browser.

2. Navigate to Credit Cards Section: Locate and click on the “Credit Cards” section on the website.

3. Select Central SBI Select Credit Card: Browse through the available credit card options and choose the “Central SBI Select Credit Card.”

4. Fill in the Online Application Form:

  • Click on the “Apply Now” or similar button.
  • Complete the online application form with accurate personal and financial details. This may include your name, contact information, employment details, income, and other required information.

5. Submit Documents and Review:

  • Upload the necessary documents, such as identity proof, income proof, and address proof, as per the requirements specified in the application.
  • Review your application to ensure all information is correct.
  • Submit the application.

Frequently Asked Questions (FAQs) –

Q: What is the Central SBI Select Credit Card?

A: The Central SBI Select Credit Card is a credit card offered by State Bank of India (SBI) in collaboration with Central, providing users with various benefits and features tailored for shopping and lifestyle expenses.

Q: How can I apply for the Central SBI Select Credit Card?

A: To apply for the Central SBI Select Credit Card, visit the official SBI Card website, navigate to the credit card section, choose the Central SBI Select Credit Card, and complete the online application form.

Q: What are the key features of the Central SBI Select Credit Card?

A: The card offers features like reward points on purchases, exclusive discounts at Central stores, airport lounge access, and fuel surcharge waivers, among others.

Q: What documents are required for the Central SBI Select Credit Card application?

A: Commonly required documents include identity proof, income proof, and address proof. These may include Aadhaar card, PAN card, salary slips, ITR, utility bills, etc.

Q: How can I check the status of my Central SBI Select Credit Card application?

A: You can check the status of your application online through the SBI Card website or by contacting the customer service helpline. An application reference number is usually provided during the application process for tracking.

Q: What are the fees associated with the Central SBI Select Credit Card?

A: The fees may include an annual fee, joining fee, and other charges. Refer to the terms and conditions or contact SBI Card customer service for specific details on fees.

Q: How do I redeem the reward points earned on my Central SBI Select Credit Card?

A: You can redeem reward points through the SBI Card website or customer portal for a variety of options, including merchandise, gift vouchers, or statement credit.

Q: Is there a grace period for bill payment on the Central SBI Select Credit Card?

A: Yes, there is typically a grace period provided by SBI for bill payment. Details about the grace period and due dates can be found in the credit card statement.

Q: Can I get an additional card for family members with my Central SBI Select Credit Card?

A: Yes, many credit cards allow for the issuance of additional cards for family members. Check with SBI Card for specific details on obtaining supplementary cards.

Q: What benefits does the Central SBI Select Credit Card offer at Central stores?

A: Cardholders can enjoy exclusive discounts, reward points, and special offers when making purchases at Central stores using the Central SBI Select Credit Card.