State Bank of India
SBI Card ELITE
4.6 / 5visa · mastercard
- Joining fee
- ₹4,999
- Annual fee
- ₹4,999
- Base reward
- 0.5%
- Min income
- ₹60,000/mo
- Forex markup
- 1.99%
- Interest p.a.
- 45%
Where it earns
| Category | Rate | Monthly cap |
|---|---|---|
| Everything else | 0.5% | Uncapped |
Benefits
- ▸Welcome e-gift voucher worth ₹5,000
- ▸2 Reward Points per ₹100 on all spends (domestic and international), ≈0.5% value back
- ▸Up to 50,000 milestone bonus Reward Points per year (₹3L/₹4L/₹5L/₹8L slabs)
- ▸Free movie tickets worth up to ₹6,000 per year (₹250 off, max 2 tickets/month on BookMyShow)
- ▸Complimentary Priority Pass membership (worth USD 99) with 6 international lounge visits/year
- ▸2 complimentary domestic lounge visits per quarter
- ▸Complimentary Trident Privilege Red Tier membership
- ▸Up to 50% off golf games and one complimentary lesson/month (Mastercard variant)
- ▸Lowest foreign currency markup of 1.99%
- ▸1% fuel surcharge waiver (₹500–₹4,000, max ₹100 per month)
The good
- + Rich travel and lifestyle benefits (lounge, movies, golf, Trident membership)
- + Lowest-in-class foreign markup of 1.99%
- + Large milestone bonus reward points (up to 50,000/year)
The catch
- − High annual fee (₹4,999); waiver needs ₹10 lakh annual spend
- − Low base earn rate of only 0.5% value back
- − Reward point value of just ₹0.25