M16S / State Bank of India (SBI Card) / SBI Card ELITE
premium · rewards, travel
SBI Card ELITE
The 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 (8 per year). Abroad: 6 per calendar 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
- 3.75%a month
What changed on this card
- SBI Card to add 1% fee on transport above Rs 30,000, Dec 2026
From 1 Dec 2026 SBI Card charges 1% of the transaction amount on every transportation transaction above Rs 30,000 (MCCs 4111, 4784, 4131). Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card to add 1% fuel fee above Rs 50,000 a cycle, Dec 2026
From 1 Dec 2026, if fuel transactions in a billing cycle exceed Rs 50,000, SBI Card charges 1% on the total fuel spends. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card limits statement credit to multiples of 4,000 points, Apr 2026
From 1 Apr 2026 Reward Points for Statement Credit can be redeemed only in multiples of 4,000 Points, on all eligible cards except the two PhonePe cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card caps statement credit redemption at 60,000 points, Apr 2026
From 1 Apr 2026 redemption of Reward Points for Statement Credit is capped at 60,000 Points per month on all eligible cards except Air India SBI Signature and the two PhonePe cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card revises late payment charges from May 2026
From 1 May 2026 no charge applies up to Rs 100 due (was up to Rs 500). Rs 100 applies above Rs 100 up to Rs 500, and Rs 500 above Rs 500 up to Rs 1,000 (was Rs 400). Higher slabs are unchanged. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on wallet loads above Rs 1,000, Nov 2025
From 1 Nov 2025 SBI Card charges 1% of the transaction amount on every wallet load transaction above Rs 1,000. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on education payments via apps, Nov 2025
From 1 Nov 2025 a 1% fee applies to education payments made through third-party apps. Payments made directly to colleges or schools through their websites or POS machines carry no fee. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds Rs 200 cheque processing fee from Sep 2025
From 15 Sep 2025 a Cheque Processing Fee of Rs 200 applies to outstanding payments made by cheque. Payments by UPI, BBPS and NEFT stay free of extra charges. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card ends free air accident cover on five cards, Jul 2025
From 15 Jul 2025 SBI Card discontinues the complimentary Air Accident insurance: Rs 1 crore on Elite, Miles Elite and Miles Prime; Rs 50 lakhs on Prime and Pulse. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card adds 1% fee on utility payments above Rs 50,000, Dec 2024
From 1 Dec 2024, if utility payments in a billing cycle add up to more than Rs 50,000, SBI Card charges a 1% fee on the total utility amount. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card stops reward points on digital gaming from Dec 2024
SBI Card lists AURUM, SBI Card Elite, Pulse, SimplyCLICK, PRIME and SimplySAVE among the cards that earn no Reward Points on Digital Gaming Platforms/Merchants from 1 Dec 2024. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card raises finance charge to 3.75% a month from Nov 2024
From 1 Nov 2024 the rate of Finance Charges is 3.75% p.m. on all unsecured SBI credit cards, except Shaurya and Defense cards. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card stops reward points on government payments June 2024
SBI Card lists AURUM, SBI Card Elite, Pulse, SimplyCLICK, PRIME and SimplySAVE among the cards that earn no Reward Points on government related transactions from 1 Jun 2024. Source: SBI Card, sbicard.com, read 28 Oct 2026
- SBI Card stops reward points on rent payments from April 2024
SBI Card lists AURUM, SBI Card Elite, Pulse, SimplyCLICK, PRIME and SimplySAVE among the cards that earn no Reward Points on rent payments from 1 Apr 2024. Source: SBI Card, sbicard.com, read 28 Oct 2026
Each change is read from the bank's own notice or terms document, linked above. Every card's changes are on the change log.
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 benefit | Rs 5,000 e-gift voucher (choice of Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion or Shoppers Stop) |
|---|---|
| Reward currency | Reward Points |
| Base earn | 2 RP per Rs 100 on all other spends, except fuel (international spends also 2 RP per Rs 100) |
| Base return | 0.5% |
| Point value | 4 RP = Re 1 (Rs 0.25 per RP) against card outstanding |
| Accelerated earn | 5X Reward Points on dining, departmental stores and grocery spends |
| Capsunverified | Accelerated points 10,000 per month |
| Spends that earn nothingunverified | Fuel, merchant EMI, Flexipay, wallet loads, cash advance, balance transfer; rent, government, digital gaming |
| Points expiry | 24 months |
| Milestone benefits | Bonus RP: 10,000 each at Rs 3 lakh and Rs 4 lakh, 15,000 each at Rs 5 lakh and Rs 8 lakh annual spend (up to 50,000 RP worth Rs 12,500 a year); annual fee reversal at Rs 10 lakh |
| Reward notes | base_return_pct = 2 RP per Rs 100 x Rs 0.25 (both stated on the product page); 5X categories work out to 2.5% on that basis. 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 (8 per year) |
|---|---|
| International lounge | 6 per calendar year, max 2 per quarter, via Priority Pass |
| Lounge conditions | Priority Pass membership (worth USD 99) valid for 2 years only; visits beyond the free quota cost USD 27 + taxes each. |
| 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 a year (primary card only); 1-year Club ITC Silver tier (after first transaction within 60 days of issuance); concierge; Rs 1 lakh fraud liability cover; golf (4 complimentary green-fee rounds, up to 50% off games, 1 lesson a month) listed under Mastercard; network dining/app offers. Rs 1 crore air accident cover withdrawn 15 Jul 2025 (issuer notice). |
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 |
| Fine-print notes | Issuer product page (rendered text) read 2026-10-12; fees, forex, interest and penalty fields are from the issuer MITC/KFS; fields not listed in unverified_fields are from the product page or other issuer documents. Page vs earlier value: networks was Visa, Mastercard, RuPay, Amex (cardinsider.com), page's Network section lists Mastercard, Visa and American Express only. Aggregator details the page does not state: accelerated cap of 10,000 points a month, wider exclusion list, movie benefit as 2 tickets a month at Rs 250 each, lounge access for primary cardholder only. The same page text is served at lifestyle/sbi-card-elite.page and lifestyle/sbi-card-elite-advantage.page; it says a secured 'Advantage' variant is also available. Amex variant cannot draw cash at domestic ATMs (issuer notice, Jan 2022). 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?
- 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 give airport lounge access?
- Yes. In India: 2 per quarter (8 per year). Outside India: 6 per calendar year, max 2 per quarter, via Priority Pass. Conditions: Priority Pass membership (worth USD 99) valid for 2 years only; visits beyond the free quota cost USD 27 + taxes each.
- What is the forex markup on the SBI Card ELITE?
- 1.99% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the SBI Card ELITE?
- Fuel, merchant EMI, Flexipay, wallet loads, cash advance, balance transfer; rent, government, digital gaming