New Delhi, March 24, 2022.
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’. 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 Rs 100 spent at Nature’s Basket stores and up to 10 Reward Points on every Rs 100 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.
According to Mr. Rama Mohan Rao Amara, MD & CEO, SBI Card, “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. 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.”
Speaking about the initiative, Mr. 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 Rs 6,000 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 Rs 10,000 upon achieving annual spends of Rs 6 lakh and annual fee reversal at Rs 10 lakh spends milestone during membership year. On the other hand, Nature’s Basket SBI Card users will get gift vouchers of premium brands worth Rs 3,000 upon achieving Rs 3 lakh annual spends and will become eligible for annual fee reversal upon reaching annual spends milestone of Rs 2 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 Rs 1499 and Rs 4,999 respectively. It will be launched on Visa platform.