M16S / State Bank of India (SBI Card) / KVB SBI Card ELITE
premium · cobrand, rewards
KVB SBI Card ELITE
The KVB SBI Card ELITE costs Rs 4,999 a year, waived if you spend Rs 10,00,000 in a year. Its base return is 0.5%. Accelerated earn: 5X Reward Points on dining, departmental stores and grocery spends. The forex markup is 1.99%. Lounge visits in India: 2 per quarter. Abroad: 6 per calendar year via Priority Pass, outside India, max 2 per quarter. Read from the issuer's documents and an aggregator on 12 Oct 2026.
- Annual fee
- Rs 4,999+ GST
- Fee waived at
- Rs 10,00,000annual spend
- Base return
- 0.5%
- Forex markup
- 1.99%
- Interest
- 3.75%a month
Apply on sbicard.comOpens the bank’s own page.
Fees
| Joining fee | Rs 4,999 |
|---|---|
| Annual fee | Rs 4,999 |
| Annual spend that waives the fee | Rs 10,00,000 |
| Fee notes | Annual fee Rs 4,999 + taxes; renewal fee Rs 4,999 from second year, reversed on Rs 10 lakh annual spend (product page). |
Rewards
| Welcome benefit | Welcome e-gift voucher worth Rs 5,000 (Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion, Shoppers Stop) |
|---|---|
| Reward currency | Reward Points |
| Base earn | 2 RP per Rs 100 on all other spends, except fuel (also 2 RP per Rs 100 on international transactions) |
| Base return | 0.5% |
| Point value | 4 RP = Re 1 against card outstanding (Rs 0.25 per RP) |
| Accelerated earn | 5X Reward Points on dining, departmental stores and grocery spends |
| Spends that earn nothing | Fuel earns no points |
| Points expiry | 24 months |
| Milestone benefits | Up to 50,000 bonus RP a year (worth Rs 12,500): 10,000 RP each at Rs 3 lakh and Rs 4 lakh, 15,000 RP each at Rs 5 lakh and Rs 8 lakh annual spend; annual fee reversed at Rs 10 lakh |
| Reward notes | base_return_pct = 2 RP per Rs 100 x Rs 0.25 (4 RP = Re 1 against card outstanding, both from the product page) = 0.5%; 5X categories 2.5%. Reward redemption fee Rs 99 + GST on physical products, statement credit and physical vouchers (MITC). From 1 Apr 2026 statement-credit redemption is capped at 60,000 points a month and allowed only in multiples of 4,000 points (issuer notice). Points on Flexipay/merchant EMI are reversed; wallet loads (MCC 6540/6541) earn nothing; points on spends that got an instant discount/cashback offer are forfeited. |
Travel and perks
| Domestic lounge | 2 per quarter |
|---|---|
| International lounge | 6 per calendar year via Priority Pass, outside India, max 2 per quarter |
| Lounge conditions | Priority Pass membership (worth USD 99) for the primary cardholder only, valid 2 years; USD 27 + taxes per Priority Pass visit after the complimentary ones; call the helpline to receive the Priority Pass. |
| Forex markup | 1.99% |
| Fuel surcharge waiver | 1% on fuel txns Rs 500-4,000, cap Rs 250 per statement cycle |
| Other freebies | Free movie tickets worth Rs 6,000 every year (primary card only); Club ITC Silver tier membership for 1 year (after first transaction within 60 days of issuance); concierge service; Rs 1 lakh fraud liability cover; network offers incl. Mastercard golf (4 complimentary green-fee rounds, up to 50% off games, 1 lesson a month) and up to 15% off at Lalit Hotels. |
Charges and eligibility
| Interest per month | 3.75% |
|---|---|
| Late payment fee | On outstanding amount due: Nil up to Rs 100; Rs 100 (>100-500); Rs 500 (>500-1,000); Rs 750 (>1,000-10,000); Rs 950 (>10,000-25,000); Rs 1,100 (>25,000-50,000); Rs 1,300 (>50,000); plus Rs 100 if minimum due missed two cycles running (slabs as revised 1 May 2026) |
| Cash advance fee | 2.5% of amount, min Rs 500; ATM limit Rs 15,000/day; interest from day one |
| Eligibilityunverified | Indian resident, age 21+; self-employed up to 65; credit score 750+ advised (aggregator) |
| Fine-print notes | KVB = Karur Vysya Bank. Voucher link is sent within 21 days of annual-fee realisation (page). Reward, lounge, milestone, forex and network fields now read from the issuer's product page (rendered 2026-10-12); networks taken from the page's network-offer tabs. The page is live with a branch-apply instruction, so status open is treated as confirmed. The page states no monthly cap on the 5X categories. Page vs earlier value (page used): lounge_domestic was '8 per year' (BankBazaar FAQ); page says 2 complimentary domestic visits every quarter; old other_freebies said movie tickets buy 1 get 1, up to Rs 250 off, twice a month (BankBazaar); page says free movie tickets worth Rs 6,000 every year; point_value was null; page states 4 RP = Re 1. Issuer-wide (MITC): rent payments carry Rs 199 fee; utility bills totalling over Rs 50,000 in a cycle carry 1% fee; wallet loads over Rs 1,000 carry 1% fee; education payments via third-party apps carry 1% fee; forex markup is not reversed on refunds; fees shown exclude 18% GST. |
Questions
- What is the annual fee of the KVB SBI Card ELITE?
- Rs 4,999 a year, before GST. It is waived if you spend Rs 10,00,000 in a year.
- Does the KVB SBI Card ELITE give airport lounge access?
- Yes. In India: 2 per quarter. Outside India: 6 per calendar year via Priority Pass, outside India, max 2 per quarter. Conditions: Priority Pass membership (worth USD 99) for the primary cardholder only, valid 2 years; USD 27 + taxes per Priority Pass visit after the complimentary ones; call the helpline to receive the Priority Pass.
- What is the forex markup on the KVB SBI Card ELITE?
- 1.99% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the KVB SBI Card ELITE?
- Fuel earns no points