SBI Card on Tuesday announced its partnership with premium grocery store brand Nature’s Basket to launch a gourmet card. The card, ‘Nature’s Basket SBI Card’, will address unique lifestyle spend needs, including grocery and gourmet, of the cardholder, the non-banking financial company said in a statement.
The card will be introduced in two variants ‘Nature’s Basket SBI Card’ and ‘Nature’s Basket SBI Card Elite’, to be used for spend categories such as international travel, dining, and entertainment. The card will be made available to customers from the first fortnight of April.
The card will allow cardholders to earn up to 20 reward points for every Rs 100 spent at Nature’s Basket stores and 10 reward points on every Rs 100 spent on dining, movies and international travel.
Nature’s Basket SBI Card Elite will offer complimentary Bookmyshow movie tickets worth Rs 6,000 every year. Cardholders will also be able to avail Taj gift vouchers of worth Rs 10,000 upon achieving annual spends of Rs 6 lakh and annual fee reversal at Rs 10 lakh spends milestone during membership year, the company said.
Nature’s Basket SBI Card Elite will also offer privileges like exclusive check-out counters at Nature’s Basket stores and concierge assistance. Cardholders will also be able to access airport lounges during domestic and international travel.
Nature’s Basket SBI Card users will get gift vouchers of premium brands worth Rs 3,000 upon achieving Rs 3 lakh annual spends. Users will be eligible for annual fee reversal upon reaching annual spends of Rs 2 lakh.
The annual membership fee of Nature’s Basket SBI Card and its Elite version will be Rs 1,499 and Rs 4,999 respectively.
Rama Mohan Rao Amara, MD & CEO, SBI Card said, “India’s premium consumer segment continues to offer a strong potential for growth. Over the years, we have built a robust premium products portfolio and Nature’s Basket SBI Card, with its exclusive benefits and privileges for consumers, will help to further strengthen it.”
Devendra Chawla, MD & CEO, Spencer’s Retail & Nature’s Basket said, “As a leading international gourmet and premium grocery brand in the country, we consistently strive to bring more value & delight to our esteemed customers. Launch of Nature’s Basket SBI Card that rewards customers on their varied purchases is a key step in the direction.”