The SBI Card PRIME is a special type of credit card provided by the State Bank of India, offering a wide range of privileges and rewards to its customers. From joining benefits to transaction-based reward points, you can avail offers from a variety of categories such as lifestyle, fashion, food, travel as well as fuel.
So, in this article, you will learn about the various benefits offered by this new SBI credit card, along with the eligibility criteria required to purchase it.
Features of SBI Card PRIME
The primary SBI credit card benefits that you need to know are as follows:
- It requires a joining fee of Rs. 2,999 (excluding taxes), which you have to pay once. It is also called the joining fee.
- You need to renew this card each year, with a renewal fee of Rs. 2,999 (excluding taxes).
- If you spend more than Rs. 3 Lakhs in a year, you will not need to pay any annual or renewal fee for your SBI Card PRIME.
- There is a rewards redemption fee of Rs. 99 every time you make a redemption request.
- You can pay the outstanding dues on your credit card using your reward points.
PRIME Welcome Benefits
The welcome benefits you receive with your SBI Card PRIME include the following:
- A welcome e-Gift Voucher of Rs. 3,000 from any of the following brands of your choice:
- Bata/ Hush Puppies
- Shoppers Stop
- Marks and Spencer
- The code for your gift voucher will be sent to your registered mobile number within 15 days after payment of the annual fees.
- In case of the fashion and lifestyle brands such as Marks and Spencer, Shoppers Stop, Pantaloons, Hush Puppies or Bata, you can visit their respective stores and redeem your e-Gift Voucher by showing the code.
- In case you choose Yatra.com, you can redeem this code online when you make any purchase.
- Earn 20 reward points for every Rs. 100 spent on recurring utility bill payments.
- Spend Rs. 100 on dining, department stores, groceries, and movies to receive 10 reward points.
- Spend Rs. 100 at BigBasket Reliance Fresh, Reliance Footprint, Reliance Smart, Reliance Trends, and SahakariBhandar outlets and receive 15 Reward Points.
- Earn 2 reward points for every Rs. 100 spent in any retail store.
- You can use reward points to pay off any outstanding balance on your card. Here, 1 Rupee equals 4 Reward Points.
- 1% of transactions between Rs. 500 and Rs. 4000 at all petrol stations are exempt from the fuel surcharge. (Additional Government Service Tax, if Applicable) The maximum monthly surcharge waiver for each credit card account is Rs. 250.
Redeeming Reward Points
You can redeem your SBI prime rewards points in two ways:
- You can use these reward points for paying your credit card dues
- You can convert them into cash, where 1 Reward Point = Rs. 0.25. Therefore, 4 reward points = Re. 1
Additional Features of SBI Card PRIME
Apart from the welcome benefits and PRIME rewards, this SBI card also offers you many other additional perks. They include the following:
- Complimentary Club Vistara Silver membership
- It offers an upgrade voucher to the silver membership with lounge access.
- For every Rs. 100 spent on flights with Vistara, you may earn 9 Club Vistara points.
- You can get an extra baggage allowance of 5 kg.
- The offers are only for Vistara cardholders.
- Milestone Benefits
- You will receive a Pizza Hut e-voucher worth Rs. 1,000 after you spend Rs. 50,000 in a calendar quarter.
- You will get an e-gift voucher of Rs. 7,000 from Yatra.com/Pantaloons if you spend Rs. 5 Lakhs from the card annually.
- Lounge Access
- There are four opportunities each year to use the international priority pass lounges, however, you are only allowed a maximum of two visits each quarter.
- In the case of domestic lounges in India, you can visit them eight times per year. However, this can also be availed twice each quarter, like in the case of international lounges.
- Birthday Benefit
- You will receive 20 Reward Points for every Rs. 100 you spend the day before, on, and after your birthday (primary account holder).
- Fraud Liability Cover
- With the SBI Card PRIME, you can now enjoy coverage of Rs. 1 Lakh in case of any fraudulent purchase with the card.
- The coverage will be valid for 48 hours to 7 days after you report the fraudulent case. Any other transaction during this time will be charged.
- Air Liability Coverages
You will receive an Air Liability coverage of Rs. 50 Lakhs for tickets you book using this card. The coverage is for cardholders only.
This feature helps you to convert your purchases into monthly EMIs within 30 days of your purchase. The minimum purchase to avail this feature is Rs. 2500.
Eligibility to Purchase an SBI Credit Card PRIME
The eligibility criteria for the SBI Prime credit card are as follows:
- You have to be a salaried or a self-employed individual
- Age for salaried employees must be between 21 and 55 years
- The age for self-employed people must be between 21 to 70 years.
The new SBI Card Prime has a lot of benefits to offer to its customers across various segments. However, before purchasing a new credit card you must weigh your needs and financial position. For instance, using excessive credit only to get offers may not be fruitful in the long run. However, if your requirements are met, you can avail the same and receive these prominent benefits with SBI prime card.