PSB SBI Card ELITE – Benefits, Fees & Eligibility

Introduction

The PSB SBI Card ELITE is a premium credit card offering a host of exclusive privileges designed for high spenders. It provides a generous welcome e-Gift Voucher, complimentary movie tickets annually, and accelerated reward points on dining, departmental stores, and grocery spends. Cardholders can also enjoy significant milestone benefits, international and domestic airport lounge access, and a low foreign currency markup, making it suitable for both domestic and international usage.

Welcome Benefits

• Welcome e-Gift Voucher worth Rs. 5,000 from brands such as Bata/Hush Puppies, Aditya Birla Fashion, Pantaloons, Shoppers Stop, and Yatra.com.
• An SMS will be sent to choose from e-Gift Voucher options within 21 working days of annual fees payment.
• The e-Voucher will be sent to your registered mobile number/e-mail ID within 5 days of the request.
• Vouchers can be redeemed by showing the code at respective brand stores (Bata/Hush Puppies, Pantaloons, Shoppers Stop) or online (Yatra, Shoppers Stop).
• Aditya Birla Fashion e-Gift Vouchers are accepted at Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, and Simon Carter brand stores.

Fees

• Annual Fee (one-time): Rs. 4,999 + taxes.
• Renewal Fee (per annum): Rs. 4,999 + taxes, from the second year onwards.
• Spend-Based Waiver: Annual Fee reversal on achieving annual spends of Rs. 10 Lakhs.
• Add-on Fee (per annum): Nil.
• Foreign Currency Markup: 1.99% on International usage.
• Fuel Surcharge Waiver: 1% waiver on transactions between Rs. 500 to Rs. 4,000 at any petrol pump across the country. Maximum surcharge waiver of Rs. 250 per statement cycle, per credit card account.
• International Lounge Usage Fee: A usage fee of $27 + applicable taxes will be charged for visits to Priority Pass member lounges after the complimentary visits.
• Movie Ticket Convenience Fee: Convenience Fee would be chargeable on complimentary movie tickets.
• All taxes would be charged as applicable on all Fees, Interest & Charges.

Rewards

• Movies:
  • Free Movie Tickets worth Rs. 6,000 every year.
  • Valid for at least 2 tickets per booking per month.
  • Maximum discount is Rs. 250 per ticket for 2 tickets only.
  • This offer is valid on Primary Cards only.
• Accelerated Reward Points:
  • Get 5X Reward Points on Dining, Departmental stores, and Grocery Spends.
  • Earn 2 Reward Points per Rs. 100 on all other spends, except fuel.
  • Earn 2 Reward Points per Rs. 100 spent on International transactions.
• Milestone Privileges:
  • Earn up to 50,000 Bonus Reward Points worth Rs. 12,500 per year.
  • Earn 10,000 bonus Reward Points on achieving annual spends of Rs. 3 lakhs and Rs. 4 lakhs.
  • Earn 15,000 bonus Reward Points on achieving annual spends of Rs. 5 lakhs and Rs. 8 lakhs.
• International Lounge Program:
  • Complimentary membership to the Priority Pass Program worth $99.
  • 6 complimentary Airport Lounge visits per year, outside India (maximum 2 visits per quarter), effective 1st July 2017.
  • Access over 1000 Airport Lounges worldwide.
  • Only Primary Cardholders are eligible for Priority Pass, and complimentary membership is valid for 2 years only.
• Domestic Lounge Program:
  • Enjoy 2 complimentary Domestic Airport Lounge visits every quarter in India.
  • Use your PSB SBI Card ELITE at the respective lounges.
• Network Privileges (VISA Offers):
  • Exclusive benefits across 900 luxury hotels worldwide.
  • Savings of up to 10% on Hertz Car Rental.
  • Savings of up to 35% on Avis Car Rental.
  • Up to 15% off on stays at IHG Hotels and Resorts.
• Network Privileges (RuPay Offers):
  • Up to 15% Cashback on Hotels and Flight bookings at MakeMyTrip.
  • Up to 20% off on ZoomCar.
  • Up to 15% off on Shopping at Lifestyle Stores.

Rewards Redemption Guide

• You can pay your card outstanding with Reward Points. The conversion rate is 4 Reward Points = Rs. 1.

Card Review

The PSB SBI Card ELITE is a premium offering from SBI Card, packed with significant benefits for those with high spending habits, especially in dining, departmental stores, and groceries. The annual welcome gift and yearly movie tickets provide substantial value, often offsetting the annual fee. The milestone benefits, offering up to 50,000 bonus reward points, further enhance its appeal for high spenders. Frequent international travelers will particularly benefit from the complimentary Priority Pass membership and international lounge access, coupled with the low foreign currency markup. Domestic travelers are also covered with quarterly lounge access. While the annual fee is on the higher side, it can be waived based on annual spending, making it a rewarding card for individuals who can meet the spend criteria and utilize its lifestyle and travel benefits extensively.

Important Product Details

• Positive Highlights:
  • Welcome e-Gift Voucher worth Rs. 5,000.
  • Complimentary movie tickets worth Rs. 6,000 annually.
  • Accelerated 5X Reward Points on Dining, Departmental stores, and Grocery spends.
  • Opportunity to earn up to 50,000 bonus Reward Points (worth Rs. 12,500) annually through milestone spends.
  • Complimentary Priority Pass membership (worth $99) offering 6 international airport lounge visits per year.
  • 2 complimentary domestic airport lounge visits per quarter.
  • Lowest Foreign Currency Mark-up Charge of 1.99% on international transactions, plus 2 Reward Points per Rs. 100 spent.
  • Complimentary Air Accident Liability Cover of Rs. 1 Crore (to be discontinued w.e.f. August 11, 2025).
  • Complimentary Credit Card Fraud Liability Cover of Rs. 1 Lakh.
  • 1% fuel surcharge waiver (maximum Rs. 250 per month).
  • Free Add-on cards for up to 3 family members (parents, spouse, children, or siblings above 18 years).
  • Global acceptance at over 24 million outlets.
  • Contactless payment advantage for quick and secure transactions.
  • Emergency Card Replacement facility worldwide (for VISA cardholders).
  • Access to exclusive concierge services.
  • Facilities like Easy Bill Pay, Flexipay for EMI conversion, and Balance Transfer on EMI are available.
• Negative Highlights:
  • Annual and Renewal Fee of Rs. 4,999 + taxes.
  • International lounge visits beyond the complimentary quota incur a usage fee of $27 + applicable taxes.
  • Convenience fees are applicable on complimentary movie ticket bookings.
  • The complimentary Air Accident Insurance coverage of Rs 1 Cr will be discontinued starting August 11, 2025.

Other Details

• Exclusive Concierge Service:
  • Dedicated assistance for Flower Delivery, Gift Delivery, and Online Doctor Consultation.
  • To avail Concierge Services, call 1800-2121-68168 or email support@premiumconcierge.in.
• Contactless Advantage:
  • Enables easy daily purchases by simply waving your card at a secure reader.
  • Offers fast, convenient, and secure transactions, reducing the risk of card loss and fraud (skimming).
  • Unique security key feature ensures only one transaction goes through even if the card is waved multiple times.
• Air Accident & Fraud Liability Cover:
  • Complimentary Air Accident Liability Cover of Rs. 1 Crore (T&C Apply). This cover will be discontinued effective August 11, 2025.
  • Complimentary Credit Card Fraud Liability Cover of Rs. 1 lakh.
  • This fraud cover is valid for a period of 48 hours prior to reporting of loss, to 7 days post reporting of loss.
  • To report card loss, call SBI Card helpline: 1860 180 1290 or 39020202 (prefix Local STD code).
• Global Acceptance:
  • The PSB SBI Card ELITE is accepted at over 24 million outlets across the globe, including 3,25,000 outlets in India.
  • Can be used at any outlet that accepts VISA/RuPay cards.
• Emergency Card Replacement:
  • Get your PSB SBI Card ELITE replaced anywhere in the world (Facility Applicable for VISA cardholders only).
  • 24x7 helpline for emergency card replacement while traveling abroad.
  • If the card is lost in India, call 1860 180 1290 or 39020202 (prefix local STD code).
• Add-on Cards:
  • Empower up to 3 members of your family (parents, spouse, children, or siblings - above 18 years of age) with an add-on card.
• Cash on the Go:
  • Withdraw cash from over 1 million VISA/RuPay ATMs worldwide.
• Safe and Secure:
  • Enhanced security against counterfeiting and skimming with the chip and PIN enabled PSB SBI Card ELITE.
• Easy Bill Pay Facility:
  • Pay your electricity, telephone, mobile, and other utility bills using this facility.
• Flexipay:
  • Convert your transactions of Rs. 2,500 or more into easy monthly installments (EMIs).
  • Log in to sbicard.com within 30 days of purchase to convert to Flexipay.
• Balance Transfer on EMI:
  • Transfer the outstanding balance of other banks’ credit cards to your PSB SBI Card ELITE to avail a lower rate of interest and pay back in EMIs.
  • Available by logging into sbicard.com.
• Payment Settlement: All payments made for a cardholder account will be settled in a specific order.
• Important Information:
  • Submit account payee cheques following CTS 2010 standards for timely processing.
  • This is a co-brand product, and there may be fee and revenue sharing between SBI Card and the co-brand partner.
  • For assistance, call SBI Card helpline at: 1860 180 1290 or 39020202 (prefix local STD code).