SBI Card is one of the most trusted and popular credit card issuers in India, with branches all over the country and crores of credit card holders. It offers credit cards across various categories ranging from super-premium and travel to basic ones. If you are someone who lives a lavish lifestyle and regularly travels to foreign countries, then you must be using your credit card for foreign currency spending as well.
Whenever you make foreign currency spends, the bank charges a forex markup fee, which is generally 3 to 3.5% of the transaction amount. No doubt, a credit card helps you make payments conveniently anywhere, but if you add up these forex markup charges, you will spend a lot of extra money over a year. Therefore, you must get a credit card with low forex markup charges if you are regularly going to make international transactions.
Most SBI credit cards charge a 3.5% forex markup fee, but there are some premium cards for high net-worth individuals that charge a lower cost as well. Some cards even have accelerated reward points on foreign currency spends. In this article, we will learn about the forex markup charges of top SBI credit cards and other information related to this category.
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Let’s check out the forex markup fees charged by some of the most popular SBI credit cards:
6 Travel Credits for Every ₹200 Spent on Travel. 2 Travel Credits/₹200 Spent on All Other Purchases
5,000 Travel Credits
Card Details +
The SBI Card Miles Elite is a premium travel credit card with a joining and renewal fee of ₹4,999 plus GST, offering extensive travel benefits. It provides 5,000 Travel Credits as a welcome bonus on spending ₹1 lakh within 60 days and rewards users with 6 Travel Credits per ₹200 spent on travel and 2 Travel Credits per ₹200 on other expenses. The card features 8 complimentary domestic lounge visits and 6 international lounge visits annually, a complimentary Priority Pass membership, and a reduced forex markup fee of 1.99%. All of these features make it a must-have for travel.
10 Reward Points/₹100 Spent on Dining, Grocery, and Departmental Stores (~2.5%). 2 Reward Points/₹100 on All Other Spends (~0.5%)
Vouchers Worth ₹5,000 from Yatra, Aditya Birla Fashion, Hush Puppies/Bata, Pantaloons, or Shoppers Stop
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The SBI Elite credit card is another offering in the premium category by the bank, and it charges a joining fee of ₹4,999 from the cardholders. The card is packed with top-class privileges, including complimentary airport lounge access, discounts on hotel stays, shopping vouchers, and much more. The card offers 2 RPs per ₹100 spent with accelerated 5x RPs on grocery, departmental store, and dining spends. The SBI Elite card has a forex markup fee of 1.99% on foreign spends.
4 Reward Points per Rs. 100 spent (reward rate of 1%)
40,000 Reward Points and Complimentary Memberships of Club Marriott, Wall Street Journal, and Mint
Card Details +
The SBI AURUM Credit Card is a super-premium, invite-only card with a stylish metallic design and exclusive benefits. It offers 40,000 reward points as a welcome gift, complimentary memberships to Club Marriott, Wall Street Journal, and Mint, and various milestone-based vouchers from Tata CliQ, Taj, and Apple.
The card provides unlimited international lounge access, domestic lounge visits, golf privileges, and travel insurance, including flight cancellation coverage. Users earn 4 reward points per ₹100 spent, redeemable for travel, shopping, and gift vouchers. With a ₹9,999 annual fee (waived on ₹12 lakh spending), a 1.99% foreign currency markup, and 3.5% monthly interest, the card competes with HDFC Infinia and American Express Platinum Charge. It suits high-spending individuals seeking luxury perks.
Get 4 Travel Credits for every ₹200 spent on travel and 2 Travel Credits for every ₹200 on other expenses.
Get 3,000 Travel Credits on spending ₹60,000 within 60 days of issuance.
Card Details +
The SBI Card MILES PRIME is a premium travel credit card with a joining and renewal fee of ₹2,999 + GST, offering 3,000 Travel Credits as a welcome benefit upon spending ₹60,000 in the first 60 days. It provides 4 Travel Credits per ₹200 spent on travel and 2 per ₹200 on other spends, redeemable for air miles, hotel points, and travel bookings. Cardholders enjoy 8 complimentary domestic and 4 international lounge accesses annually, a Priority Pass membership, and a 2.5% foreign currency markup. Additional perks include travel insurance covering flight cancellations, lost baggage, and air accident coverage, plus a spend-based fee waiver at ₹10 lakh annually.
Get 2 Travel Credits for every ₹200 spent on travel and 1 Travel Credit for every ₹200 on other expenses.
Get 1,500 Travel Credits on spending ₹30,000 within 60 days of issuance.
Card Details +
The SBI Card MILES is a travel-focused credit card with a joining and renewal fee of ₹1,499 plus GST, offering Travel Credits as rewards. Cardholders earn 2 Travel Credits per ₹200 spent on travel and 1 Travel Credit per ₹200 on other expenses, which can be redeemed for air miles, hotel points, or travel bookings. It provides four complimentary domestic airport lounge visits per year and a complimentary Priority Pass Membership for international lounge access (with a usage fee). While it lacks benefits for movies, dining, and insurance, it is an excellent choice for frequent travelers seeking reward-based travel perks. It even offers a reduced Forex charge of 3% for international travel, which would be ideal for those who travel abroad. It is worth mentioning those who travel internationally frequently should opt for a higher fee variant of the MILES Credit Card series.
10 RPs/₹100 Spent on Dining, Groceries, Movies, and Departmental Stores (Reward Rate ~2.5%). 2 RPs/₹100 for All Other Eligible Spends (Reward Rate ~0.5%)
Voucher Worth ₹3,000 from Yatra, Aditya Birla Fashion, Bata/Hush Puppies, Shoppers Stop, and Pantaloons
Card Details +
A lifestyle offering by SBI, the Prime credit card charges a joining fee of ₹2,999 and can be considered as a lower variant to the SBI Elite credit card. The card offers 2 RPs per ₹100 spent and up to 10 RPs on your grocery and dining spends. You can redeem your reward points against a host of products or vouchers. Available in the American Express, MasterCard, or Visa variant, the card has a 3.5% forex markup fee on foreign spending.
5% Cashback for Online Spends Up to ₹2,000 and 1% Cashback for Offline Spends Up to ₹2,000. Maximum Cashback of ₹4,000 in a Statement Cycle
N/A
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The Cashback SBI Credit Card provides cashback to the cardholder on almost every spend, as the name suggests. The card comes at a joining fee of ₹1,000 and offers 5% cashback on your online and offline spending. The cashback is automatically credited to the cardholder’s account, but you can only earn a maximum cashback of ₹5,000 in a month. This card is appropriate for people who regularly use it for online shopping, and it charges a 3.5% forex markup fee.
Card networks like MasterCard or Visa charge a 1% forex markup on international transactions whenever you swipe your credit card. The card issuer then adds extra charges that increase the total fee to 3 to 3.5%. This forex markup fee is charged in addition to the transaction amount, and you will have to pay a lot of extra money if you regularly spend foreign currency with your credit card.
You should meet the following eligibility criteria to apply for SBI credit cards –
To apply for an SBI Card, you can visit the nearest SBI branch, or you can fill out the online application form as follows:
| Category | SBI Card Miles Elite | SBI Aurum Credit Card | SBI Elite Credit Card |
| Joining/Annual Fee | ₹4,999 + GST | ₹9,999 + GST | ₹4,999 + GST |
| Welcome Benefit | 5,000 Travel Credits | 40,000 Reward Points and Complimentary Memberships of Club Marriott, Wall Street Journal, and Mint | ₹5,000 worth of gift vouchers from top brands like Yatra, Hush Puppies, Shoppers Stop, etc. |
| Reward Earning | 6 Travel Credits for Every ₹200 Spent on Travel. 2 Travel Credits/₹200 Spent on All Other Purchases | 4 RPs per ₹100 spent | 2 RPs per ₹100 spent on retail 5x RPs on grocery, dining, and departmental store spends |
| Reward Redemption | Travel Credits Can be Converted into Air Miles/Hotel Points, Travel Bookings, or Redeemed for Catalogue Products | Reward Points are redeemable for gift vouchers, hotel reservations, flight tickets, etc., on the dedicated AURUM Rewards portal | Reward Points are redeemable against gift vouchers or the SBI mobile app or for paying the outstanding balance of the card; 1 Reward Point = ₹0.25 |
| Dining/Movie Benefits | N/A | 4 movie tickets from BookMyShow every month (max cap of ₹250 per ticket) | Free movie tickets per month, capped at ₹6,000 per month Up to 25% discount at partner restaurants |
| Travel Benefits | Complimentary Priority Pass Membership | Complimentary unlimited international and 4 domestic lounge access | Complimentary Priority Pass Membership |
| Forex Markup Fees | 1.99% | 1.99% | 1.99% |
SBI Card is one of the top credit card issuers in the country, and you can use your SBI credit card to make international transactions in foreign currency. However, whenever you do so, you have to pay a forex markup fee along with the transaction amount. People who regularly visit abroad or spend money online in foreign currency with their credit cards spend a lot of extra money for it.
Thus, consider getting a credit card with low forex markup fees if you want to save money over a long period. SBI currently offers the Miles series, Aurum, and Elite credit cards that have a low forex markup fee, while other cards by the bank have a standard 3.5% forex markup fee. Let us know if you plan on getting any of these cards in order to save money on foreign currency transactions.
The SBI Aurum credit card charges a forex markup fee of 2% on the transaction amount. The card has a high joining fee of ₹10,000, but it is packed with features and has a lower forex markup fee than other standard SBI credit cards.
The SBI Elite credit card charges a Forex markup fee of 2% on the transaction amount. The card has a joining fee of ₹5,000, but it is packed with features and has a lower forex markup fee than other standard SBI credit cards.
Other than the premium credit cards offered by SBI, most other cards have higher forex markup fees. The most used cards, like SBI Prime, Cashback SBI Card, IRCTC SBI Card Premier, BPCL SBI Card Octane, etc., charge a standard 3.5% forex markup fee of the total transaction amount.
In addition to forex markup, you will also be charged a 1% currency conversion fee by the payment processor where you swipe your card. This further increases the total amount you have to pay for international spending with your card.