Nature’s Basket SBI Card
SBI Cards has partnered with Nature’s Basket, a premium grocery store in India, to launch the Nature’s Basket SBI Card. This card is perfect for people who love gourmet food and want rewards for their grocery and lifestyle purchases. Cardholders get extra reward points for shopping at Nature’s Basket stores or online, as well as for dining, entertainment, and both local and international spending.
In addition to reward points, the card offers great perks like a welcome gift, free access to airport lounges in India, and no fuel surcharge. The card costs Rs. 1,499 for joining and renewing, which might be a bit high but is affordable for premium customers.
What makes the Nature’s Basket SBI Card special is that it gives more reward points for shopping at Nature’s Basket compared to other spending like dining or entertainment. New cardholders also get gift vouchers and access to the ‘Epicure’ Loyalty Program. If you spend enough, you can earn vouchers from top brands, and you also get travel perks like lounge access at domestic airports in India. This card is especially useful for regular shoppers at Nature’s Basket.
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 are the top grocery credit cards offered by SBI Cards?
SBI Cards has partnered with Nature's Basket to offer two grocery credit cards: the Nature's Basket SBI Card and Nature's Basket SBI Card Elite. These cards give great rewards for grocery shopping, plus extra perks for travel, dining, and entertainment. With the regular card, you can earn up to 10 reward points for every Rs. 100 spent, and with the elite card, you can earn up to 20 reward points for every Rs. 100 spent.
What is the annual fee for the Nature’s Basket SBI Card?
The Nature’s Basket SBI Card charges an annual fee of Rs. 1,499, plus any taxes.
Does this card offer a fuel surcharge waiver?
Yes, the card gives a 1% discount on the fuel surcharge for transactions between Rs. 500 and Rs. 3,000 at all fuel stations in India. However, this discount is capped at Rs. 100 per statement cycle.
What are the welcome benefits for this card?
When you pay the annual fee, you will receive a gift voucher worth Rs. 1,500 from Nature’s Basket. You will also get free access to the ‘Epicure’ Nature’s Basket Loyalty Program.
Can the renewal fee for the Nature’s Basket SBI Card be waived?
Yes, if you spend Rs. 2 Lakhs or more in a year, you can get the renewal fee of Rs. 1,499 waived.
How much is each reward point worth?
Each reward point is worth Rs. 0.25.
Leave a Reply