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SBI Elite
SBI Elite sits in the upper-mid tier for cardholders who dine and shop groceries frequently and want airport lounge access without stepping up to a super-premium card. It earns 10 reward points per ₹100 (5X, about 2.5%) on dining, groceries, and department-store spend, with a milestone-driven fee structure that rewards consistent annual spend rather than one-off big purchases. The steep upfront joining fee is the main hurdle, but it's largely recoverable through the welcome voucher and movie-ticket benefits in year one.
Annual fee
₹4,999
Joining fee
₹4,999
Reward type
points
Base reward rate
0.5%
Card network
Visa
Card tier
Premium
Who this card fits
Best suited to applicants with a credit score of roughly 740+ whose spend is concentrated in dining, groceries. Its annual fee waives if you can comfortably clear the spend threshold.
Rewards & benefits
- Rewards rate: 0.5% base rate
- Domestic lounge access: 8 complimentary domestic lounge visits and 6 international lounge visits per year via Visa/SBI's lounge program, usable at major airports across India and abroad
- International lounge access: 6 complimentary international lounge visits per year (max 2/quarter) via a complimentary Priority Pass membership (worth $99); $27 + tax per visit after the cap
Benefits by category
- 🍽️ Dining & food delivery
2.5% reward rate
- 🛒 Groceries
2.5% reward rate
- ✈️ Travel
8 complimentary domestic lounge visits and 6 international lounge visits per year via Visa/SBI's lounge program, usable at major airports across India and abroad
- 🌍 Forex / international spend
1.99% forex markup on international transactions
Eligibility
- Minimum credit score: 740
- Minimum monthly income: ₹60,000
- Employment: salaried, self-employed
- Age: 21–65
Fees & charges
- Spend-based waiver: Waived on annual spend of ₹10,00,000
- Rewards redemption fee: ₹99 + applicable taxes per redemption request when reward points are redeemed for statement credit, gift vouchers or physical products, charged once per batch regardless of how many items are redeemed in it.
- Foreign currency markup: 1.99%
- Interest rate: 42% p.a.
- Cash advance charges: 2.5% of the withdrawn amount or ₹300 (whichever is higher) at domestic ATMs, and 3% or ₹300 (whichever is higher) internationally; cash advances earn no reward points and carry no interest-free grace period.
Benefits
- 8 complimentary domestic lounge visits and 6 international lounge visits per year via Visa/SBI's lounge program, usable at major airports across India and abroad
- ₹5,000 e-Gift voucher redeemable across a curated list of partner brands (fashion, electronics, travel) once the joining fee is paid and the card is activated
Pros
- + Accelerated ~2.5% rewards on dining, groceries, and departmental store spend
- + 8 domestic + 6 international lounge visits a year, generous for this fee tier
- + ₹5,000 welcome e-Gift voucher substantially offsets the joining fee
- + Buy-one-get-one movie ticket discounts via BookMyShow
- + Milestone spend benefits that reward loyal, consistent usage over the year
Cons
- − Steep joining fee upfront before any benefits are realised
- − Modest 0.5% base reward rate outside the bonus categories
- − Accelerated category rewards capped at 10,000 points/month
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