M16S / State Bank of India (SBI Card) / SBI Card ELITE Advantage
premium · rewards, secured
SBI Card ELITE Advantage
The SBI Card ELITE Advantage costs Rs 4,999 a year, waived if you spend Rs 10,00,000 in a year. Its base return is 0.5% (2 RP per Rs 100). Accelerated earn: 5X (10 RP per Rs 100) on dining, departmental stores, groceries. The forex markup is 1.99%. Lounge visits in India: 2 per quarter. Abroad: 6 per year, max 2 per quarter, via Priority Pass. 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
- 2.75%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 | Renewal fee reversed on Rs 10 lakh annual spend. |
Rewards
| Welcome benefitunverified | Rs 5,000 e-gift voucher (Hush Puppies/Bata, Yatra, Aditya Birla Fashion, Pantaloons or Shoppers Stop) |
|---|---|
| Reward currency | Reward Points |
| Base earnunverified | 2 RP per Rs 100 |
| Base returnunverified | 0.5% |
| Point valueunverified | 1 RP = Rs 0.25 (aggregator: 50,000 RP = Rs 12,500) |
| Accelerated earnunverified | 5X (10 RP per Rs 100) on dining, departmental stores, groceries |
| Points expiry | 24 months |
| Milestone benefitsunverified | Bonus RP: 10,000 at Rs 3 lakh, 10,000 at Rs 4 lakh, 15,000 at Rs 5 lakh, 15,000 at Rs 8 lakh annual spend (up to 50,000 a year) |
| Reward notes | base_return_pct = 2 RP per Rs 100 x Rs 0.25; accelerated 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 loungeunverified | 2 per quarter |
|---|---|
| International loungeunverified | 6 per year, max 2 per quarter, via Priority Pass |
| Forex markupunverified | 1.99% |
| Other freebiesunverified | Movie tickets worth Rs 6,000 a year (2 tickets per booking per month, max Rs 250 per ticket); Priority Pass membership. Aggregator also lists Trident Privilege Red Tier and Club Vistara Silver, which may be out of date (Vistara merged into Air India in Nov 2024). |
Charges and eligibility
| Interest per monthunverified | 2.75% |
|---|---|
| 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 | Issued against a fixed deposit (secured variant) |
| Fine-print notes | The issuer address for this card (lifestyle/sbi-card-elite-advantage.page, read 2026-10-12) serves the SBI Card ELITE page, whose only reference to this card is the line "Secured card variant 'Advantage' also available". No field was changed or marked verified from it, because the page does not say the secured variant carries the same terms. For reference, the earlier values here agree with that ELITE page on fees, welcome voucher, 2 RP base and 5X categories, milestones, lounge counts and 1.99% forex; the ELITE page also lists a 1% fuel surcharge waiver (Rs 500-4,000, cap Rs 250 per cycle) and Mastercard/Visa/Amex networks, left unfilled here. Benefit fields from BankBazaar's ELITE Advantage page; it does not mention the fixed deposit, the fuel waiver or the network, and lists joining fee as nil against Rs 4,999 in the issuer MITC. Secured status, 2.75% rate and 1.99% forex (the KFS says 'ELITE cards'; the aggregator also says 1.99%) should be confirmed. 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 SBI Card ELITE Advantage?
- Rs 4,999 a year, before GST. It is waived if you spend Rs 10,00,000 in a year.
- Does the SBI Card ELITE Advantage give airport lounge access?
- Yes. In India: 2 per quarter. Outside India: 6 per year, max 2 per quarter, via Priority Pass.
- What is the forex markup on the SBI Card ELITE Advantage?
- 1.99% of each foreign-currency transaction, before GST.