Table of Contents
SBI Elite Credit Card Review – Features, Benefits & Fees
| Feature | Details |
|---|---|
| Issuer | State Bank of India |
| Card Type | Semi Premium Credit Card |
| Annual Fee | ₹ 4,999+ GST (Waived on spending ₹ 10 lakh) |
| Add-on Fee | Nill |
| Joining Benefits | Welcome e-Gift Voucher Worth ₹ 5,000 |
| Best Suited For | Frequent Shoppers, High spenders, Movie Lovers |
| Reward Rate | On Dining, Groceries, and departmental store-10 RP per ₹100 spent. All other purchases– 2 RP per ₹100 spent |
| Lounge Access | International– 6 per year, Domestic -2 per quarter |
| Fuel Surcharge Waiver | 1 %Fuel surcharge waiver (max ₹250 per month) |
| Free Movie Tickets | Free movie tickets worth ₹ 6,000 every year |
Welcome Benefits 🎁
Benefit 1 – Welcome e-Gift Voucher Worth ₹ 5,000 for Pantaloons, Shoppers, Yatra, Aditya Birla retail, etc.
Eligibility for Welcome Benefits:
- Only after payment of the annual fee (₹ 4999+GST)
- Existing SBI Card holders upgrading to SBI ELITE may not receive the benefit. Only new SBI card ELITE holders are eligible.
Rewards & Cashback 💰
| Spend Category | Reward Points / Cashback |
|---|---|
| Shopping | Get 5X reward points |
| Departmental Store, Grocery Spend, Dining | Get 5X reward points |
| Travel | 2 Reward Points per ₹100 spent |
| Fuel | No Reward points, 1 %Fuel surcharge waiver (max ₹250 per month) |
| Other Spends (Including International Transactions) | 2 Reward Points per ₹100 spent |
Reward Redemption Options 💳
| Redemption Option | Conversion Rate / Details | Where to Redeem |
|---|---|---|
| Gift Vouchers & Merchandise | Varies based on brand & product | SBI Card Reward Catalog |
| Cashback (Statement Credit) | 4 Reward Points = ₹1 | SBI Card Portal / App |
| Flight & Hotel Bookings | Varies based on booking amount | SBI Card Travel Portal |
| Airmiles Conversion (Club Vistara, Etihad Guest) | 5 Reward Points = 1 Airmile | Airline Loyalty Programs |
| Fuel Redemption | Redeem BPCL & IOCL Fuel Vouchers | SBI Card Reward Catalog |
Milestone Benefits 🎯
Cardholders can get Up to ₹ 50,000 Bonus Reward Points worth ₹ 12,000/year in the following manner
| Annual Spent Level | Bonus Reward Points |
|---|---|
| 3 Lakh | 10,000 |
| 4 Lakh | 10,000 |
| 5 Lakh | 15,000 |
| 8 Lakh | 15,000 |
Lounge Access 💺
| Lounge Type | Access |
|---|---|
| International Lounge Program | 6 Complimentary Airport Lounge Visits per Calendar |
| Domestic Lounge Program | 2 Complimentary Domestic Airport Lounge Visits per quarter |
Fees & Charges 💵 ✨
| Charge Type | Amount |
|---|---|
| Joining Fee | ₹4,999 + applicable taxes |
| Annual Fee | ₹4,999 + applicable taxes (Waived on spending ₹10,00,000 or more in the preceding year) |
| Interest Rate | 3.50% per month (42% per annum) |
| Foreign Exchange Markup | 1.99% of the amount withdrawn or ₹500, whichever is higher |
| Late Payment Fee | Ranges from ₹400 to ₹1,300, depending on the outstanding balance |
📌 Note: GST and other applicable taxes as per current laws will be levied on all fees and charges.
Other Benefits & Features
✔ [Feature 1] – 15 % discount on F&B at Lalit Hotels
✔ [Feature 2] – Credit card fraud liability cover of ₹ 1 lakh
Eligibility & Documents Required 📑
| Criteria | Requirement |
|---|---|
| Age for Primary Cardholder | 21 to 60 Years |
| Age for Add-on Cardholder | 18 Years and above |
| Income | Not officially disclosed by SBI |
| Credit Score | Recommended: 750+ |
| Documents Required | PAN Card, Aadhar, Income Proof, Address Proof |
| Residential Status | Indian Resident only |
📌 Note: Eligibility criteria may vary based on the bank’s internal policy.
How do I Apply for SBI ELITE Credit Card?
Step 1: Visit the sbicard.com website or the nearest branch.
Step 2: Fill in the application form online and upload the required documents.
Step 3: Wait for verification and approval.
Step 4: Receive your card at your registered address.
Pros & Cons ⚖️
✅ Pros
✔ 1.99 % Foreign currency mark-up charges
✔ Global Acceptance, Cash withdrawn across the world
❌ Cons
✖ Lower reward rate as compared to similar other bank credit card
✖ Limited Airport Lounge access
Final Verdict – Should You Get This Card?
No, you should not go for that card, Because you are getting a maximum 2% return on spending 10 lakh.
📢 Best for: Movie tickets, you will get 2 movie tickets per month worth ₹ 500.
⚡ Not ideal for: Airport lounges
💡 If you frequently spend on movie tickets, this card can be a great option.