SBI Card inks partnership with Nature's Basket to launch India's leading International Gourmet Card

22 Mar 2022 , 03:22 PM

SBI Card, India’s largest pure-play credit card issuer, has inked partnership with Nature’s Basket, India’s leading premium grocery store brand, to launch ‘Nature’s Basket SBI Card’.

Towards close of trade on Tuesday, SBI Cards & Payment Services Ltd was trading at Rs844.80 per share up by Rs2.85 or 0.34% from its previous closing of Rs841.95 per share on the BSE.

Thoughtfully crafted to cater to the fast-evolving gourmet taste of premium consumers, the first-of-its-kind ‘Nature’s Basket SBI Card’ will address their unique lifestyle related spend needs, including grocery and gourmet. The card will be introduced in two variants — ‘Nature’s Basket SBI Card’ and ‘Nature’s Basket SBI Card Elite’ to enable cardholders to derive maximum value from their spends at Nature’s Basket stores along with other key spend categories such as international travel, dining, and entertainment. Nature’s Basket SBI Card will be available to customers by around first fortnight of April 2022.

‘Nature’s Basket SBI Card’ variants will allow cardholders to earn up to 20 Reward Points on every Rs100 spent at Nature’s Basket stores and up to 1 O Reward Points on every Rs100 spent on dining, movies, and international travel. Importantly, the cardholders will be able to enjoy unparalleled benefits such as complimentary Bookmyshow movie tickets, Taj gift vouchers, Nature’s Basket welcome gift vouchers, and access to higher tiers of Nature’s Basket loyalty program, among others.

With the changing lifestyle preferences and increasing disposable income, consumers are seeking premium products and experiences. At SBI Card, premium cards portfolio contributes a significant share in overall spends, which is an indication of consumers’ increasing affinity towards premium lifestyle.

Rama Mohan Rao Amara, MD & CEO, SBI Card, “India’s premium consumer the 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. We are delighted to partner with Nature’s Basket which has been instrumental in crafting the gourmet food story in India and has millions of loyal consumers. Through this card, we hope to provide them with an exceptionally premium experience.”

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. We are very thrilled to be partnering with SBI Card to launch this co-branded card that will provide numerous benefits to our valued customers and deepen our relationship with them.”

Nature’s Basket SBI Card Elite will offer complimentary Bookmyshow movie tickets worth Rs6,000 every year. Both the variants will come with compelling spends-based milestone benefits. Through Nature’s Basket SBI Card Elite, cardholders will be able to avail Taj gift vouchers of worth Rs10,000 upon achieving annual spends of Rs6 lakh and annual fee reversal at Rs10 lakh spends milestone during membership year. On the other hand, Nature’s Basket SBI Card users will get gift vouchers of premium brands worth Rs3,000 upon achieving Rs3 lakh annual spends and will become eligible for annual fee reversal upon reaching annual spends milestone of Rs2 lakh.

Aimed at elevating the premium experience of customers, Nature’s Basket SBI Card Elite goes a step further and will offer customers exclusive privileges like exclusive check-out counters at Nature’s Basket stores and concierge assistance to address customers’ requirements around flower delivery, gift delivery and online doctor consultation. The cardholders will also be able to use the card to avail complimentary access to airport lounges while travelling domestically and internationally. Nature’s Basket SBI Card Elite will offer 8 complimentary visits per year to domestic lounges and 6 complimentary visits per year to international Priority Pass lounges. Nature’s Basket SBI Card customers will be able to avail 4 complimentary visits per year to domestic lounges.

The annual membership fee of Nature’s Basket SBI Card and its Elite version will be Rs1499 and Rs4,999 respectively. It will be launched on Visa platform.