M16S / State Bank of India (SBI Card) / SBI Card MILES ELITE
premium · travel, rewards
SBI Card MILES ELITE
The SBI Card MILES ELITE costs Rs 4,999 a year, waived if you spend Rs 15,00,000 in a year. Its base return is 1% (2 Travel Credits per Rs 200 on all other spends). Accelerated earn: 6 Travel Credits per Rs 200 on travel. The forex markup is 1.99%. Read from the issuer's documents and an aggregator on 12 Oct 2026.
- Annual fee
- Rs 4,999+ GST
- Fee waived at
- Rs 15,00,000annual spend
- Base return
- 1%
- 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 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
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 15,00,000 |
| Fee notes | Renewal fee reversed on Rs 15 lakh annual spend. |
Rewards
| Welcome benefit | 5,000 Travel Credits on spends of Rs 1 lakh within 60 days of card issuance (page also carries a line saying credits are credited on payment of joining fee) |
|---|---|
| Reward currency | Travel Credits |
| Base earn | 2 Travel Credits per Rs 200 on all other spends |
| Base return | 1% |
| Point value | 1 Travel Credit = Re 1 for air miles / hotel points; Rs 0.50 for travel bookings; Rs 0.25 on Shop & Smile catalogue |
| Accelerated earn | 6 Travel Credits per Rs 200 on travel |
| Caps | None stated |
| Spends that earn nothingunverified | Fuel, EMI, wallet loads, rent/property management, utilities, insurance, quasi-cash |
| Points expiry | 24 months |
| Milestone benefits | 20,000 bonus Travel Credits on Rs 12 lakh annual spend; annual fee reversal at Rs 15 lakh in a membership year |
| Reward notes | base_return_pct = 2 Travel Credits per Rs 200 x Re 1; the page-stated value of Re 1 per Travel Credit for air miles / hotel points; halve it for travel bookings, quarter it for catalogue. Transfers take up to 21 days and are final; minimum 2,000 credits. Redemption fee Rs 99. Etihad Guest SBI cardholders were migrated to this range by 31 Mar 2026 (issuer notice). |
Transfers
| Partnersunverified | Air India Maharaja Club, Etihad Guest, Air France-KLM Flying Blue, Air Canada Aeroplan, Qantas Frequent Flyer, Thai Royal Orchid Plus, SpiceJet SpiceClub, AirAsia, Qatar Airways Privilege Club, Turkish Miles&Smiles, United MileagePlus, Japan Airlines Mileage Bank, Ethiopian ShebaMiles, Saudia Alfursan, Air Arabia Air Rewards, IHG One Rewards, Wyndham Rewards, Orchid Hotels, Accor ALL, Club ITC, Shangri-La Circle |
|---|---|
| Ratiounverified | Travel Credits : partner. 1:1 Air India, Etihad, Air France-KLM, Air Canada, Qantas, Thai, SpiceJet, AirAsia, IHG, Wyndham, Orchid Hotels; 2:1 Qatar, Turkish, United, JAL, Ethiopian, Saudia, Air Arabia, Accor, ITC Hotels; 6:1 Shangri-La (aggregator list; programme names inferred from airline/hotel names) |
Travel and perks
| Domestic lounge | 8 per year, max 2 per quarter; 1 additional visit per Rs 1 lakh spent, additional visits capped at 15 per membership year |
|---|---|
| International lounge | 6 per year, max 2 per quarter, via Priority Pass (membership complimentary for first 2 years) |
| Lounge conditions | Visits after the complimentary quota USD 27 + taxes. |
| Forex markup | 1.99% |
| Fuel surcharge waiverunverified | 1% waiver, cap Rs 500 per month |
| Other freebies | Insurance: up to 6 flight cancellations a year (Rs 3,500 each), lost card liability up to Rs 1 lakh, loss of check-in baggage up to Rs 72,000, baggage delay Rs 7,500, loss of travel documents up to Rs 12,500, baggage damage up to Rs 5,000; Priority Pass membership. Air accident cover withdrawn from 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 RuPay only (cardinsider.com), page names Mastercard and RuPay; air accident cover: page still lists 'Air Accident cover up to Rs. 1 crore', the issuer notice says air accident cover on Miles Elite was withdrawn from 15 Jul 2025; the notice is kept. Transfer partner list and ratios are still from the aggregator; the page only links to a partner list. Network taken from the page lines naming Mastercard and RuPay for acceptance and lounge lists. Page does not mention a fuel surcharge waiver (value kept from the aggregator) or reward exclusions. Aggregator said Priority Pass is for the primary card only. Aggregator page describes a RuPay variant; other networks not 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 MILES ELITE?
- Rs 4,999 a year, before GST. It is waived if you spend Rs 15,00,000 in a year.
- Does the SBI Card MILES ELITE give airport lounge access?
- Yes. In India: 8 per year, max 2 per quarter; 1 additional visit per Rs 1 lakh spent, additional visits capped at 15 per membership year. Outside India: 6 per year, max 2 per quarter, via Priority Pass (membership complimentary for first 2 years). Conditions: Visits after the complimentary quota USD 27 + taxes.
- What is the forex markup on the SBI Card MILES ELITE?
- 1.99% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the SBI Card MILES ELITE?
- Fuel, EMI, wallet loads, rent/property management, utilities, insurance, quasi-cash