SBI ELITE Credit Card – Benefits, Fees & Eligibility

SBI Card ELITE

Introduction

The SBI Card ELITE is a premium credit card offered by SBI Card, carrying an annual membership fee of Rs. 4,999 plus taxes. This card provides a host of exclusive privileges across various categories such as travel, lifestyle, movies, and dining. It offers valuable welcome benefits including a gift voucher worth Rs. 5,000, along with complimentary domestic and international lounge access. Cardholders can earn accelerated reward points on dining, departmental stores, and grocery spends, and benefit from a low foreign currency markup. The SBI Card ELITE is available in Visa, Mastercard, RuPay Select, and American Express variants, each offering some unique network-specific benefits.

Welcome Benefits

• Welcome e-Gift Voucher worth Rs. 5,000.
• Choose from an array of travel and lifestyle brands including Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, and Shoppers Stop.
• The e-voucher options will be communicated via SMS within 30 days of annual fees payment, and the voucher will be sent to your registered mobile number/e-mail ID within 5 days of the request.
• Redemption Details:
  • For Pantaloons, Shoppers Stop, and Hush Puppies/Bata, the e-gift voucher can be redeemed by showing the code at the respective brand store.
  • For Yatra and Shopper Stop, the code can be redeemed online at the time of purchase.
  • Aditya Birla Retail Voucher can be redeemed at brand stores like Louis Philippe, Van Heusen, Allen Solly, Peter England, Planet Fashion, and Simon Carter.

Fees

• Joining Fee (one-time): Rs. 4,999 + Taxes (GST). This includes a welcome gift worth Rs. 5,000.
• Renewal Fee (per annum): Rs. 4,999 + Taxes (GST), applicable from the second year onwards.
• Spend-Based Waiver: The annual renewal fee is waived on achieving annual spends of Rs. 10 lakh or more in the preceding year/membership year.
• Add-on Fee (per annum): Nil.
• Rewards Redemption Fee: Rs. 99 + GST.
• Foreign Currency Markup: 1.99% of the transaction amount on international usage.
• Interest Rates: 3.75% Per Month (equivalent to 45% Per Annum).
• Fuel Surcharge: 1% fuel surcharge waiver on transactions between Rs. 500 to Rs. 4,000 at any petrol pump across the country. The maximum surcharge waiver is capped at Rs. 250 per month, per statement cycle (Government Service Tax extra as applicable).
• Cash Advance Charges: 2.5% of the transaction amount, subject to a minimum charge of Rs. 500.
• Card Replacement Fee: Rs. 100 to Rs. 250.
• All applicable taxes would be charged on all fees, interest, and charges mentioned.

Rewards

• Reward Points Earning:
  • Earn 5X Reward Points (equivalent to 10 Reward Points) per Rs. 100 spent on Dining, Departmental stores, and Grocery categories. These accelerated Reward Points are capped at 10,000 RPs per calendar month. After reaching this cap, subsequent spends in these categories will earn 2 Reward Points per Rs. 100.
  • Earn 2 Reward Points per Rs. 100 on all other spends, excluding fuel transactions.
  • Earn 2 Reward Points on every Rs. 100 spent on International transactions.
  • Spend Categories not eligible for Reward Points: Merchant EMI, Flexipay, E-Wallet loading, cash advances, and balance transfers.
• 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.
  • Earn 10,000 bonus Reward Points on achieving annual spends of Rs. 4 lakhs.
  • Earn 15,000 bonus Reward Points on achieving annual spends of Rs. 5 lakhs.
  • Earn 15,000 bonus Reward Points on achieving annual spends of Rs. 8 lakhs.
• Movies:
  • Receive free movie tickets worth Rs. 6,000 every year.
  • This benefit is valid for at least 2 tickets per booking per month.
  • The maximum discount is Rs. 250 per ticket for 2 tickets only.
  • A convenience fee would be chargeable.
  • This offer is valid only on Primary Cards.
• Dining:
  • Get 5X Reward Points on Dining spends.
  • Enjoy exciting offers and deals on dining with up to 25% off at partnered restaurants (applicable with the American Express variant only).
  • Enjoy up to 15% discount on Food & Beverage at Lalit Hotels (applicable with the Mastercard variant).
• Travel:
  • Complimentary international and domestic airport lounge access.
  • Up to 15% discount on best available room rates at Lalit Hotels (applicable with the Mastercard variant).
  • Discount of up to 10% on Hertz car rental and up to 35% off on Avis Car Rentals (applicable with the Visa variant only).
  • Enjoy exciting privileges across 900 luxury hotels (applicable with the Visa variant only).
• Domestic Lounge:
  • Enjoy 2 complimentary Domestic Airport Lounge visits every quarter in India.
  • To avail this offer, use your SBI Card ELITE at the respective lounges.
  • This offer is facilitated by Visa/Mastercard/American Express and is for a limited period.
• International Lounge:
  • Receive a complimentary membership to the Priority Pass Program, valued at $99.
  • Enjoy 6 complimentary Airport Lounge visits per calendar year, specifically for lounges outside India (with a maximum of 2 visits per quarter). This benefit has been effective from 1st July 2017.
  • Access over 1000 Airport Lounges worldwide.
  • Only Primary Cardholders are eligible for Priority Pass, and the complimentary membership will be valid for 2 years only.
  • A usage fee of up to $27 + applicable taxes will be charged to your SBI Card ELITE for visits to Priority Pass member lounges after exhausting the complimentary visits.
• Golf:
  • Enjoy 4 rounds of complimentary green fees access and up to 50% off on golf games.
  • Additionally, receive 1 complimentary golf lesson per month at selected golf courses across India (applicable with the Mastercard variant only).
• Insurance:
  • Get a complimentary credit card fraud liability cover of Rs. 1 lakh. This cover is applicable for the period of 48 hours prior to reporting the loss of the card until 7 days post reporting the loss.
  • The complimentary Air Accident insurance coverage of Rs. 1 crore currently offered on this card will be discontinued with effect from 15 July 2025.
• Lifestyle:
  • A complimentary Tablet Plus membership provides access to VIP upgrades and privileges at hotels in India and around the world (applicable with the American Express variant).
  • Benefit from an exclusive concierge service offering dedicated assistance for Flower Delivery, Gift Delivery, and Online Doctor Consultation.

Rewards Redemption Guide

• The Reward Points earned using your SBI Card ELITE are redeemable against e-vouchers or products from the catalogue available on the SBI Card’s official website or the SBI mobile app.
• Reward Points can also be redeemed against the outstanding balance of your card via Internet banking.
• The value of 1 Reward Point is Rs. 0.25.
• Alternatively, you can pay your card outstanding with Reward Points, where 4 Reward Points are equivalent to Rs. 1.
• A Rewards Redemption Fee of Rs. 99 + GST is applicable for redemption transactions.

Card Eligibility Criteria

• Age:
  • Self-Employed individuals: 21 years to 60 years.
  • Salaried individuals: 18 years to 65 years.
• Income: A minimum income of Rs. 60,000 per month or more is required.
• An excellent credit score is required for approval.
• The card issuer may have additional requirements beyond these basic criteria, which could influence the approval or denial of your credit card application.
• Documents Required:
  • Identity Proof: Acceptable documents include Voter’s ID, Aadhar Card, PAN Card, or Driving Licence.
  • Address Proof: Acceptable documents include Utility bills, Aadhar Card, Driving Licence, or Passport.
  • Income Proof: You will need to provide your latest 3 months’ bank statements, latest 3 months’ salary slips, or your latest audited Income Tax Returns (ITR).

Card Review

The SBI Card ELITE stands out as a premium credit card designed to offer a wide array of benefits across lifestyle and travel segments. It is ideally suited for high-income individuals who frequently indulge in dining, departmental store shopping, grocery purchases, movies, and travel. The initial welcome benefits of Rs. 5,000 effectively cover or offset the first-year annual fee, providing immediate value. Its extensive lounge access program, encompassing both domestic and international airports, makes it a strong contender for frequent flyers. While the card offers an impressive 2.5% reward rate on specific accelerated categories, the general reward rate of 0.5% on other expenditures is comparatively lower than some rival premium cards. Nevertheless, the annual fee waiver on achieving Rs. 10 lakhs in annual spends enhances its long-term value for consistent high-spenders. The inclusion of network-specific privileges (Visa, Mastercard, American Express) further personalizes the card's appeal, catering to niche interests such as golf (Mastercard) or exclusive dining and hotel experiences (American Express/Visa).

• Pros:
  • Provides significant welcome benefits worth Rs. 5,000, which can offset the first-year annual fee.
  • Offers generous complimentary lounge access, including 2 domestic visits per quarter and 6 international visits per year through the Priority Pass program.
  • Features accelerated reward points on popular spending categories like dining, groceries, and departmental stores.
  • Functions as an all-in-one credit card, delivering privileges across diverse categories, making it suitable for frequent travelers and those with a luxury-oriented lifestyle.
  • The annual fee can be waived upon achieving an annual spend milestone of Rs. 10 lakhs.
  • Benefits from a competitive foreign currency markup of 1.99%, advantageous for international transactions.
  • Includes additional perks such as complimentary movie tickets and a dedicated concierge service.
• Cons:
  • The base reward rate of 0.5% (2 Reward Points per Rs. 100) on general expenditures is relatively low compared to some other premium cards, which might make it less appealing for individuals whose spending patterns do not align with the accelerated reward categories.
  • The annual fee of Rs. 4,999 is high and might be a disadvantage for cardholders who do not consistently meet the annual spend waiver criteria or do not fully utilize the card's premium benefits.

Important Product Details

• Welcome e-Gift Voucher worth Rs. 5,000.
• Free Movie Tickets worth Rs. 6,000 every year (maximum discount Rs. 250 per ticket for 2 tickets per booking per month, convenience fee applicable, valid for primary cardholders only).
• Earn up to 50,000 Bonus Reward Points (worth Rs. 12,500) annually upon achieving stipulated spend milestones (Rs. 3 lakhs, Rs. 4 lakhs, Rs. 5 lakhs, and Rs. 8 lakhs).
• Annual fee waiver available on Rs. 10 lakhs annual spends.
• Earn 5X Reward Points (10 RPs per Rs. 100) on Dining, Departmental stores, and Grocery Spends, capped at 10,000 RPs per calendar month.
• Earn 2 Reward Points per Rs. 100 on all other spends and international transactions, except fuel.
• Reward Points can be redeemed for e-vouchers, products from a catalogue, or against the card outstanding (4 RPs = Rs. 1).
• Complimentary Priority Pass membership valued at $99.
• 6 complimentary International Airport Lounge visits per calendar year (maximum 2 visits per quarter, applicable for Primary Cardholders only, membership valid for 2 years).
• 2 complimentary Domestic Airport Lounge visits every quarter.
• Offers a low Foreign Currency Mark-up Charge of 1.99% on International usage.
• Includes a 1% Fuel Surcharge Waiver on transactions between Rs. 500 to Rs. 4,000, with a maximum waiver of Rs. 250 per month.
• Dedicated Exclusive Concierge Service for assistance with flower delivery, gift delivery, and online doctor consultation.
• Provides a complimentary credit card fraud liability cover of Rs. 1 lakh (applicable from 48 hours prior to reporting loss until 7 days post reporting loss).
• The complimentary Air Accident insurance coverage of Rs. 1 crore currently offered on this card will be discontinued with effect from 15 July 2025.
• Mastercard variant benefits include 4 complimentary green fees, up to 50% off on golf games, 1 complimentary golf lesson per month, and up to 15% discount on Lalit Hotels.
• Visa variant benefits include offers with MakeMyTrip (MMT), Times Prime, Alaya Stays, privileges across luxury hotels, and discounts on Hertz and Avis car rentals.
• American Express variant benefits include up to 25% discount on dining through their Dining Platform and a complimentary Tablet Plus membership.
• Features a contactless payment advantage for fast, easy, and secure daily purchases.
• Global acceptance in over 24 million outlets worldwide, including 3,25,000 outlets in India.
• Emergency Card Replacement service is available anywhere in the world (for Visa and Mastercard variants).
• Add-on Cards can be obtained for family members (parents, spouse, children, siblings) above 18 years of age, with no add-on fee.
• Provides cash access from over 1 million Visa, Mastercard, or American Express ATMs across the globe.
• The card is Chip and PIN enabled for enhanced security against counterfeiting and skimming.
• Offers an Easy Bill Pay facility for utility bills such as electricity, telephone, and mobile.
• Flexipay facility allows conversion of transactions of Rs. 2,500 or more into easy monthly installments by logging into sbicard.com within 30 days of purchase.
• Balance Transfer on EMI allows transfer of outstanding balances from other banks’ credit cards to SBI Card ELITE to avail a lower rate of interest and pay back in EMIs.

Other Details

• Order of Payment Settlement: Information regarding the order of payment settlement is available on the official SBI Card website.
• Cheque Payments: Cheques payable outside clearing zones are not accepted. Only local cheques or drafts payable in Delhi are accepted.
• Customer Helpline: For assistance, queries, or complaints related to your SBI Card ELITE, you can call the SBI Card helpline at 39 02 02 02 (prefix your local STD code) or 1860 180 1290 (toll-free). You can also email at customercare@sbicard.com or contact via Twitter @SBICard_Connect.
• Applying for the card:
  • Online: You can apply for the SBI Card ELITE through the official SBI Card website.
  • Offline: Alternatively, you can visit your nearest SBI branch with all the required documents and fill out the offline application form.
• Checking Application Status:
  • The status of your SBI Card ELITE application can be tracked online via the SBI Card’s official website by navigating to the ‘Credit Cards’ section and selecting ‘Track Application’.
  • You can also inquire about your application status by contacting SBI Card customer care.
  • Visiting your nearest SBI branch is another option to check the status.
• Credit Limit: The SBI Card ELITE is a premium credit card and generally comes with a high credit limit. The exact limit assigned may vary for different cardholders based on factors such as their past payment history and credit score. Cardholders also have the option to request a higher credit limit.
• Card Activation & PIN Generation:
  • You can activate your SBI Card ELITE or generate its PIN by logging into your SBI Card internet banking account.
  • Alternatively, you can visit any nearest SBI ATM and follow the instructions for credit card PIN generation.
  • If you face difficulties, you can contact SBI Card customer care for assistance.
• Bill Payment Options:
  • Online: Payments can be made via the SBI billdesk platform or through the SBI YONO app.
  • Offline: You can pay your credit card bill at any SBI branch (via cash or cheque) or by dropping a cheque at your nearest ATM dropbox.
  • ATM: Payments can also be made directly at any SBI ATM.
• Internet Banking Registration: To register your SBI Card ELITE for internet banking, visit the official SBI Card website, click on ‘New User? Register Now’, and provide your credit card number, date of birth, CVV, and other required details, followed by OTP verification.