SBI Card and Apollo HealthCo have created the Apollo SBI Card SELECT, a credit card that includes cashback, fitness incentives, and health credits. But, beyond the marketing hype, can this financial product actually promote better habits, or is it primarily for customer convenience? 

The Apollo SBI Card SELECT provides up to 25% cash back on health-related purchases—10% in reward points and up to 15% in health credits. These credits can be used to purchase medicines, lab tests, and medical consultations throughout Apollo's ecosystem, both online and offline. 

This strategy makes preventive care slightly less expensive. According to the National Health Accounts 2023, despite increased insurance coverage, India's out-of-pocket health expenditure remains at more than 47%. Any inducement that decreases this load, even marginally, can be beneficial, particularly for chronic patients who require regular medicine and tests. 

The card contains a complimentary one-year FITPASS PRO membership, which provides access to gyms and wellness sessions around the country. This is consistent with the Fitness and Nutrition Survey (FANS) 2023, which indicated that only 24% of urban Indians participate in regular physical activity. However, the urban, tech-savvy population, already inclined to exercise, finds this benefit more relevant. This provision may be of limited utility to rural or digitally less engaged clients, who constitute a substantial section of Apollo Pharmacy's customer base. 

Customers purchasing ₹50,000 within 90 days of joining receive a complimentary health check-up. While this encourages preventive treatment, it ultimately links health monitoring to spending. Those who cannot afford to spend so much money may not profit. Ironically, these may be the same ones that require health screening the most. 

Customers who spend ₹6 lakhs annually will receive a smartwatch. But this raises the question of whether healthcare benefits should be based on high discretionary spending. 

Apollo and SBI Card see this product as a step towards integrating healthcare into everyday living. Apollo HealthCo's Shobana Kamineni says, "We're making access to care seamless, intuitive, and affordable." However, the card also serves as a potent customer retention mechanism for both organisations, pushing customers to stay within the Apollo-SBI network for health and leisure spending. 

The ₹1,499 annual charge and lounge access benefit a select segment of financially privileged, digitally savvy metropolitan consumers. While the product may help them, it also risks widening the access and affordability gap for lower-income populations, many of whom do not have basic insurance or access to diagnostics. 

The Apollo SBI Card SELECT is an innovative combination of financial convenience and health participation, but its actual public health impact may be restricted due to pricing and access barriers. Scalable, inclusive methods that reach beyond the financially affluent continue to be required for India's broader health-care system.