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State Bank of India
SBI Card ELITE
4.6
Lounge access
- Joining fee
- ₹4,999
- Annual fee
- ₹4,999
- Welcome bonus
- ₹5,000
- Forex markup
- 1.99%
- Interest p.a.
- 45%
- Min income
- ₹60,000/mo
How this card earns
Reward rates by category, with caps and an estimated yearly value.
| Spend category | Reward rate | Monthly cap | Est. value/yr |
|---|---|---|---|
Everything else 2 Reward Points per ₹100 on all domestic and international retail spends; 1 RP = ₹0.25 so ≈0.5% value back. Reward points not earned on fuel, cash withdrawals, balance transfer and Flexipay. (Legacy '5% cashback on dining/grocery' was incorrect — ELITE is a flat 2 RP/₹100 card.) | 0.5% | — | ₹600 |
| All other spends | 0.5% | — | ₹600 |
Estimated yearly value assumes ₹10,000/month spend in each category, capped where the card caps rewards.
Fees & charges
Joining fee₹4,999
Annual fee₹4,999
Annual fee waiverRenewal fee of ₹4,999 reversed on annual spends of ₹10,00,000 or more in the preceding year
Foreign currency markup1.99%
Finance charge (p.a.)45%
Fuel surcharge waiver1%, up to ₹100/mo
Spend milestones
| Annual spend | Benefit | Value |
|---|---|---|
| ₹3,00,000 | 10,000 bonus Reward Points on annual spends of ₹3 Lakh | ₹2,500 |
| ₹4,00,000 | 10,000 bonus Reward Points on annual spends of ₹4 Lakh | ₹2,500 |
| ₹5,00,000 | 15,000 bonus Reward Points on annual spends of ₹5 Lakh | ₹3,750 |
| ₹8,00,000 | 15,000 bonus Reward Points on annual spends of ₹8 Lakh (up to 50,000 RP total per year) | ₹3,750 |
Key benefits
- Airport lounge access — 2/quarter domestic, 6/year international
- 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)
What we like
- +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)
What to watch
- −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
Compare with similar cards
- Top reward
- 5%
- Annual fee
- ₹999
State Bank of IndiaBPCL SBI Card Octane
- Top reward
- 7.25%
- Annual fee
- ₹1,499
- Welcome bonus
- ₹1,500 value
- Top reward
- 2.5%
- Annual fee
- ₹499
- Welcome bonus
- ₹500 value