FABINDIA SBI Credit Card
The FABINDIA SBI Card is a credit card from the State Bank of India, created in partnership with Fabindia. It has a joining fee of ₹499, and as a welcome gift, you get a ₹500 voucher. You can earn up to 5 Reward Points for every ₹100 you spend, which can be exchanged for Fabfamily rewards to shop at Fabindia. If you meet certain spending goals, you will also receive a ₹750 voucher that can be used at brands like Aditya Birla Fashion, Bata, Yatra, and Hush Puppies. The points you earn can be redeemed at a rate of 1 point = ₹1 for shopping.
In addition to shopping rewards, the FABINDIA SBI Card offers other savings. It includes waivers on fuel surcharges and gives you the chance to have your annual renewal fee waived, depending on your spending. This makes the card a good option for people who often shop at Fabindia and similar brands, as it combines shopping rewards with ways to save on fees and extra benefits.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
What is SBI's Flexipay scheme?
Flexipay is an installment plan that lets you make a purchase and pay for it in monthly installments. You can choose from various plans to find one that suits you best.
Can I apply online for a FABINDIA SBI Card?
Yes, you can apply for the FABINDIA SBI Card online through the SBI Card website.
What do I do if I lose my Fabindia SBI Card?
If you lose your credit card, you should immediately block it. To do this, send an SMS with the message "BLOCK XXXX" (where XXXX are the last 4 digits of your card) to 5676791 from your registered mobile number.
Once I apply for a replacement card, when will I receive the new credit card?
After requesting a replacement, you should receive your new credit card within 7 working days. However, delivery might take longer depending on your location.
Which brand’s gift voucher do I get on achieving the milestone spend?
On reaching the milestone spend, you receive a ₹750 gift voucher. You can choose from brands like Aditya Birla Fashion, Urban Ladder, Yatra, Bata, or Hush Puppies.
How many Reward Points do I earn on international spends through this card?
For international transactions, you earn 1 Reward Point for every ₹100 spent on the FABINDIA SBI Card.
Can I redeem the Fabfamily Rewards against flight bookings?
No, the Fabfamily Rewards cannot be redeemed for flight bookings. They can only be used for shopping, with 1 Reward Point equaling 1 Fabfamily Reward, which is ₹1.
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