State Bank of India has specially designed the Central SBI Select+ Credit Card in collaboration with Central Bank to make shopping easier. The card can be used easily with the help of Visa powered payWave. Visa payWave is a new contactless technology to make payments faster. The card can simply be waved on a secured reader for payments and the payments are done easily. This contactless technology also makes the card secured as the chances of duplication and skimming are avoided.
Features of Central SBI Select Plus Credit Card
The cardholders of this credit card enjoy the following features:
- On joining, the cardholders get the following welcome vouchers- Central store e-gift vouchers valuing ₹ 3,000, M-coupons of ₹ 500 for the first 3 months having a validity of 3 months and two BookMyShow ticket vouchers of ₹ 250 for the first 3 months.
- For every ₹ 100 spent at Central, accelerated reward points of 20 are allowed. For dining, the reward points are 10 and for other spends, 2 points are allowed. Each point equal to ₹ 0.25.
- If ₹ 6 Lakhs or above is spent on the card in a year, Milestone Select Points worth ₹ 4,000 are allowed and if ₹ 1.25 Lakhs is spent, 12,000 Select Points are awarded.
- The accumulated Select Points can be redeemed instantly at any Central store.
- There is a free fraud liability cover of ₹ 1 Lakh on the card.
- Flexipay allows big-ticket purchases valuing ₹ 2,500 or above to be converted to easy monthly instalments.
- Emergency card replacement facility is given to the cardholder.
- The card allows its users to get a cheque or a draft against the credit limit available on the card. Moreover, the cheque or the draft can even be delivered to the cardholder’s doorsteps, if required.
- The outstanding balance on the credit cards of other banks or financial institutions can be transferred to Central SBI Select Plus Credit Card to enjoy lower rates and ease of repayment.
Fees and charges on Central SBI Select Plus Credit Card
The credit card comes with the following fees and charges –
|Fee/Charge||Amount or Rate|
|One-time joining fee||₹ 2,999|
|Annual renewal fee||₹ 2,999|
|Fee for add-on card||Nil|
|Finance charges||Up to 3.35% per month or 40.2% per annum|
|Cash advance fee||ATMs of SBI or other banks – 2.5% of the amount withdrawn provided it is a minimum of ₹ 300|
International ATMs – 3% of the amount withdrawn provided it is a minimum of ₹ 300
How to Apply for Central SBI Select Plus Credit Card
You can share your interest in applying for this credit card by filling a basic form on SBI Card website. You need to enter your name, mobile number, the city of residence and email ID. Once you submit this, an executive from SBI Card will give you a call about this and tell you the step by step process of application. Someone will drop by at your home or office address to collect the documents. After checking the documents and conduction basic background research, a new card will be issued to you.