Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Central SBI Select Credit Card

    The Central SBI Select Card is a shopping credit card that has been introduced by the State Bank of India in collaboration with Central Stores. This card offers a wide range of not only shopping benefits but also benefits across other categories such as balance transfer, contactless technology, and others. This credit card comes with an annual fee of Rs.750 and with an interest rate of Rs.25 or 3.35% per month (whichever is higher from the date of transaction).

    Key Highlights of the Central SBI Select Credit Card

    • Complimentary e-gift voucher of Rs.750.
    • 10 Select points for every Rs.100 spent at Central Stores.
    • 5 Select points for every Rs.100 spent on dining and movies.
    • Select points worth Rs.2,000 on spending Rs.3 lakh in a year.
    • Instant redemption of Select points at any Central store.
    • Select points worth Rs.750 for annual spends of Rs.75,000 or on payment of renewal fee.

    Features and Benefits of the Central SBI Select Credit Card

    Welcome Benefit
    • Receive an e-gift voucher of Rs.750 on payment of the joining fee.
    • 3 complimentary m-coupons of Rs.250 each to be given for the first 3 months.
    Reward Point Benefits
    • 10 Select Points for every Rs.100 spent at Central Stores.
    • 1 Select Point given for every Rs.100 spent on retail expenses (other than fuel).
    • 5 Select Points given for every Rs.100 spent on movies and dining.
    Renewal and Milestone Benefits
    • Select Points worth Rs.2,000 given on annual spends of Rs.3 lakh or more.
    • 3,000 Select Points worth Rs.750 given on paying the renewal fee or spending Rs.75,000 in a year.
    • 2,000 Select Points on spending Rs.75,000 in a year.
    • 6,000 Select Points on spending Rs.1.5 lakh in a year.
    • 8,000 Select Points on spending Rs.3 lakh in a year.
    Contactless Technology Equipped with contactless technology, the card is curated specially for a time where contact is limited.
    Flexipay Benefits Cardholders can convert transactions of more than Rs.2,500 to equated monthly installments for easier payment.
    Balance Transfer Benefits With this card, the outstanding balance can be transferred to another card having a lower interest rate.
    Add-on Benefits Add-on credit cards are available for the family members of the primary cardholder who are above 18 years of age.
    Emergency Card Replacement SBI offers a 24/7 helpline for emergency card replacement all over the world.
    Worldwide Acceptance The Central SBI Select Card can be used in more than 24 million outlets across the world including 3.25 lakh outlets in India.
    Easy Money Cardholders can get cheques and drafts using the Easy Money facility.
    Easy Bill Pay Cardholders can use the Easy Bill Pay feature to pay their telephone bill, electricity bill, etc.
    Anytime Cash Withdrawal Cash can be withdrawn anytime from more than 1 million Visa ATMs all over the world.
    Locate SBI Card drop box Cardholders can locate their nearest SBI Card drop box using these steps:
    • Type ‘PIN’ space the six-digit area pin code
    • Send the SMS to 56767

    Central SBI Select Credit Card Limit

    The credit limit for the Central SBI Select card is given at the discretion of the bank. The State Bank of India considers several factors before assigning the credit limit of the card. Some of the factors are the credit score of the primary applicant, the credit report, along with the repayment habits of past debts.

    Fees and Charges of the Central SBI Select Credit Card

    Type of Charge Fee
    Annual Fee (one time) Rs.750
    Renewal Fee (per annum) Rs.750
    Add-on Card Fee (per annum) Nil
    Finance Charges 3.50% per month or 42% p.a.
    Cash Advance Up to 80% of the credit limit
    Cash advance fee 2.5% or Rs.500 (whichever is higher)
    Cheque payment fee Rs.100
    Statement retrieval Rs.100 per statement
    Overlimit charges 2.5% or Rs.600 (whichever is higher)
    Foreign currency transaction 1.99% (For Aurum and Elite), 3.50% (For all cards except Aurum and Elite)
    Late Payment Fee
    • NIL if the total amount due is from Rs.0 to Rs.500.
    • Rs.400 if the total amount due is greater than Rs.500 and up to Rs.1,000.
    • Rs.750 if the total amount due is greater than Rs.1,000 and up to Rs.10,000.
    • Rs.950 if the total amount due is above Rs.10,000 and up to Rs.25,000.
    • Rs.1,100 if the total amount due is above Rs.25,000 and up to Rs.50,000.
    • Rs.1,300 if the total amount due is above Rs.50,000.
    Card Replacement Fee Rs.100

    Eligibility Criteria for the Central SBI Select Credit Card

    The eligibility criteria of a credit card are dependent on a range of factors. Check out the primary eligibility criteria for credit cards.

    Age The primary applicant must be least 18 years old. For some banks, the minimum age to apply for a credit card may be 21 years.
    Nationality He or she must be a citizen of India or a non-resident Indian (some banks also extend credit cards to NRIs).
    Employment status The applicant must be either be salaried or self-employed and have a steady source of income.
    Income Most banks will require the applicant to meet their minimum income requirement before they approve your card application.
    Credit Score A good CIBIL score, with no history of default will be beneficial in making sure that the application is approved.

    Documents Required for the Central SBI Select Credit Card

    Proof of Address Identity Proof Income Proof
    Ration Card Driving License Salary Slips
    Voter ID Voter ID IT Returns
    Passport Aadhaar Card Form 16
    Aadhaar Card - -

    The list of documents mentioned above is indicative. The bank may ask the applicant to furnish additional documents as and when required during the process of application.

    FAQs on Central SBI Select Credit Card

    1. How can I redeem by Central SBI Select Card points?

      You can visit any of the Central Stores or shop at the website of Central Stores and instantly redeem your Select points. The card comes with the facility of instant redemption at Central Stores. You can also redeem your points by logging in to your net banking account and choosing the option of redeeming your points.

    2. What is the minimum salary required for the Central SBI Select Credit Card?

      The minimum salary required for the credit card is decided by the State Bank of India based on a number of factors and criteria they have in place.

    3. How do I convert SBI Select Points to cash?

      You can do so by sending an e-mail about the same to the customer care e-mail of the branch. Apart from this, you can also call the SBI credit card customer care to enquire about the process of conversion.

    4. Will the SBI Select points expire?

      The Select points are reward points which are awarded to you for every transaction has a validity period of 36 months from the date of the transaction. After a period of 3 years, the reward points will expire.

    5. Is there any renewal fee waiver for the Central SBI Select Credit Card?

      No, there is no renewal fee waiver. However, if you spend more than Rs.75,000 in a year, you receive 3,000 Select Points which amount to Rs.750.

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