By Shubham Sharma
Updated On October 12, 2021

SBI ELITE Credit Card is a premium credit card by SBI Card and comes with an annual membership fee of Rs. 4,999. It used to be the most premium offering by SBI Card, however, after the launch of the SBI AURUM Credit Card earlier this year, it is now the second most premium credit card offered by SBI Card.

Being a premium offering, SBI Bank ELITE Credit Card comes packed with some of the best in class value-added privileges that one expects from a premium credit card including complimentary domestic and international airport lounge visits, complimentary shopping vouchers and discounted rates on hotel bookings and movie tickets and many other add-on benefits.

As far as the reward rate is concerned, you earn 2 Reward Points per Rs. 100 spent with the card (reward rate of 0.5% as 1 Reward Point = Rs. 0.25) and 5X Reward Points per Rs. 100 on dining, departmental stores and grocery spends (reward rate of 2.5%).

SBI ELITE Credit Card comes in three variants- Visa variant, MasterCard variant and American Express variant. While most benefits are the same across all three variants, the payment networks offer some exclusive benefits as well. For example, you get complimentary golf games with the MasterCard variant and discounted dining rates with the AmEx variant of the card. Read on to learn more about this premium offering by SBI Card.

Best Suited For

Movies | Travel | Shopping |

Joining Fee

Rs. 4,999 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • Gift Voucher worth Rs. 5,000 as a welcome benefit.
  • 2 Reward Points on every Rs. 100 spent with the card except on fuel spends.
  • 5X Reward Points on spends on dining, grocery, and departmental stores.
  • Up to 50,000 Bonus Reward Points worth Rs. 12,500 every year on achieving the stipulated spend-based milestone (details below).
  • Free/discounted movie tickets (max benefit capped at Rs. 6,000 in a year).
  • Complimentary Club Vistara Silver Membership and  Trident Privilege Red Tier Membership.
  • 2 complimentary domestic airport lounge visits per quarter.
  • 6 complimentary international airport lounge visits in a year (max 2 visits per quarter).
  • Complimentary lost card liability cover worth Rs. 1 lakh applicable from 48 hours prior to 7 days post reporting the loss of card.
  • A lower foreign currency mark-up fee of 1.99% of the transaction amount.
  • Exclusive concierge service for assistance regarding online doctor consultation, flower delivery and gift delivery.
  • Exclusive privileges from Visa/MasterCard/American Express (details below).

Rewards and Benefits

Welcome Benefits

Gift voucher worth Rs. 5,000 from any one of  Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion and Shoppers Stop

Movie & Dining

Complimentary/discounted movie tickets every month (max benefit capped at Rs. 6,000 per year and Rs. 250 per ticket, offer valid for at least 2 tickets per bookings per month), dining offers with up to 25% discount at partner restaurants (with American Express variant only)

Rewards Rate

2 Reward Points on every Rs. 100 on all spending except fuel (reward rate of 0.5%), 5X Reward Points on dining, departmental stores and grocery spends (reward rate of 2.5%)

Reward Redemption

Reward Points redeemable for gift vouchers on sbicard.com or SBI mobile app or for paying the card’s outstanding balance, 1 Reward Point = Rs. 0.25

Travel

Complimentary Club Vistara Membership, complimentary Trident Privilege Red Tier membership, complimentary domestic and international airport lounge access.

Golf

4 rounds of complimentary green fees access and up to 50% off on golf games along with 1 complimentary lesson per month at selected golf courses across India (only with the MasterCard variant of the card)

Domestic Lounge Access

2 complimentary domestic airport lounge visits every quarter

International Lounge Access

6 complimentary international airport lounge visits per year (max 2 per quarter) with Priority Pass Membership

Insurance Benefits

Fraud liability cover worth Rs. 1 lakh applicable from 48 hours prior to 7 days post reporting the loss of card to the bank.

Zero Liability Protection

Fraud liability cover worth Rs. 1 lakh applicable from 48 hours prior to 7 days post reporting the loss of card

Fees & Charges

Joining Fee

Rs. 4,999 (plus applicable taxes)

Renewal Fee

Rs. 4,999 (plus applicable taxes)

Spend based Waiver

Renewal fee of Rs. 4,999 waived off if annual spends exceeded Rs. 10 lakh in the preceding year

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) per redemption request

Rewards Redemption Fee

Rs. 99 (plus applicable taxes) per redemption request

Foreign Currency Markup

1.99% of the transaction amount

Interest Rates

3.50% per month (42% per annum)

Fuel Surcharge

1% fuel surcharge waiver on transactions between  Rs. 500 and Rs. 4,000 at all fuel stations across India (max waiver capped at Rs. 250 per month)

Cash Advance Charge

2.5% of the transaction amount, subject to a minimum charge of Rs 500

Add-on Card Fee

Nil

SBI ELITE Credit Card Welcome Benefits:

You get a Gift Voucher worth Rs. 5,000 from any one of the following travel/lifestyle brands- Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion and Shoppers Stop as a welcome with the card.

SBI ELITE Credit Card Rewards:

  • 2 Reward Points per Rs. 100 spent with the card.
  • 5X (10) Reward Points per Rs. 100 spent on dining, departmental stores and grocery spends.

Reward Redemption:

The Reward Points earned on the card can be redeemed for-

  • gift vouchers on sbicard.com or SBI mobile app.
  • paying the card’s outstanding balance.

1 Reward Point = Rs. 0.25.

SBI ELITE Credit Card Milestone Benefits:

  • Up to 50,000 Bonus Reward Points on achieving the stipulated spend milestones (details as under)-
Spend Milestone Bonus Reward Points
Rs. 3 lakh 10,000
Rs. 4 lakh 20,000
Rs. 5 lakh 35,000
Rs. 8 lakh 50,000
  • Renewal fee waived off on a minimum expenditure of Rs. 10 lakh in the previous year.

SBI ELITE Credit Card Travel Benefits:

  • Complimentary Club Vistara Silver Membership.
  • Complimentary Trident Privilege Red Tier membership.
  • Complimentary domestic and international airport lounge access.
  • Up to 15% discount on best available room rates on Lalit and F&B hotels (for MasterCard variant only).
  • Up to 10% off on Hertz car rental and up to 35% off on Avis Car Rentals (for Visa variant only).
  • Enjoy exclusive benefits across 900 luxury hotels. (for Visa variant only).
  • Complimentary Tablet plus membership with access to VIP upgrades and privileges at hotels in India and abroad (for American Express variant only).

Airport Lounge Access:

  • 2 complimentary domestic airport lounge visits per quarter by Visa/MasterCard/American Express.
  • 6 complimentary international airport lounge access every year (max 2 per quarter) with Priority Pass membership.

Movie and Dining Benefits:

  • Complimentary/discounted movie tickets every month (max benefit capped at Rs. 6,000 per year and Rs. 250 per ticket, offer valid for at least 2 tickets per bookings per month).
  • Dining offers with up to 25% discount at partner restaurants (with American Express variant only).

Golf Benefits:

You get 4 rounds of complimentary green fees access and up to 50% discount on golf games along with 1 complimentary lesson per month at select golf courses across India. This benefit is applicable for the MasterCard variant of the card only.

Concierge Service:

You get a dedicated concierge service for assistance regarding flower delivery, gift delivery and online doctor consultation. To avail the service you need to call 1800-2121-68168 or email at [email protected]

Lower Foreign Markup Fee:

You are charged a lower mark-up fee of 1.99% of the transaction amount on foreign currency transactions made with the SBI Bank ELITE Credit Card.

How to apply:

You can apply for the credit card online on sbicard.com or using their chatbot ELA. Alternatively, you can also dial their helpline at 39020202 (prefix STD code) or visit your nearest SBI branch and submit the required documents. You will need an identity proof (like Aadhar Card, Voter ID Card, PAN Card, etc), an address proof (like Aadhar Card, Voter ID Card, etc.) and a proof of income (salary slips or audited ITR acknowledgment).

Conclusion:

SBI ELITE Credit Card offers add-on benefits and privileges across all spends categories. The card offers a high reward rate of 2.5% on dining, departmental stores and grocery spends and a lower reward rate of just 0.5% on other spends categories. The card is best suited for financially well-to-do individuals who spend a substantial portion of their income on shopping and travel. Regalia Credit Card by HDFC, which comes at a lower annual fee of Rs. 2,500 and ICICI Sapphiro Credit Card (annual fee of Rs. 6,500) give a tough competition to the SBI ELITE Card. What’s your take on this premium offering by SBI Card? And, how, in your opinion, does it stack up against the competitors? Do let us know in the comments. If you’re an existing cardholder, feel free to share your experience for the benefit of others.

FAQs:

Yes, 1% fuel surcharge is waived off at all filling stations across India for transactions between Rs. 500 and Rs. 4,000 (max waiver capped at R.250 per month).

Yes, the card comes with a fraud liability protection worth Rs. 1 lakh applicable from 48 hours prior to 7 days post reporting the loss of card to the bank.

The annual membership fee of the SBI ELITE Credit Card is Rs. 4,999. The annual fee is waived off on achieving the spend milestone of Rs. 10 lakh in a membership year.

SBI charges a foreign currency mark-up fee of 1.99% of the transaction amount on all foreign currency transactions made with the card.

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