INDEPENDENT PUBLIC DIRECTORY: Eligo does not issue credit cards, collect customer applications, or earn affiliate referral commissions. All terms, fees, and interest charges below are sourced directly from the official sbicard.com (SBI Cards and Payment Services Ltd.) Most Important Terms and Conditions (MITC).

🏛️State Bank of India (SBI Card)Network: Visa / Mastercard / American ExpressTravel & Aviation CardsLast Verified: 2026-09-28

SBI Card ELITE

एसबीआई कार्ड एलीट

Luxury lifestyle credit card featuring ₹5,000 welcome voucher, ₹6,000/yr free movie tickets, 6 international Priority Pass visits, 8 domestic lounge visits, and 1.99% forex markup.

Annual Fee₹4,999 + GST (Renewal: ₹4,999 + GST)

Reward Rate5X Reward Points (10 points per ₹100 spent) on Dining, Departmental Stores, and Grocery purchases. 2 Reward Points per ₹100 on all other retail spends.

Airport Lounge6 complimentary international airport lounge visits per calendar year outside India via complimentary Priority Pass Program (max 2 visits per quarter). 8 complimentary domestic airport lounge visits per year in India (max 2 visits per quarter).

Forex Markup1.99% low foreign currency markup fee — one of the lowest in the premium card segment.

What Is This Card

SBI Card ELITE is a luxury premium credit card crafted for high-net-worth individuals (HNIs), senior executives, frequent overseas business travelers, and cinema enthusiasts. It combines ₹6,000 annual movie savings, dual lounge privileges (Priority Pass international + domestic), and a competitive 1.99% foreign currency markup.

Key Benefits (Official MITC Sourced)

💳Annual Fee & Joining Fee

₹4,999 + GST (Renewal: ₹4,999 + GST)

Fee Waiver: Spend ₹10,00,000 or more in the preceding membership year to get the annual renewal fee of ₹4,999 reversed.

🎁Welcome Benefit

e-Gift Voucher worth ₹5,000 from premium partner brands: Yatra.com, Hush Puppies/Bata, Pantaloons, Shoppers Stop, or Aditya Birla Fashion.

⚡Reward Points Structure

5X Reward Points (10 points per ₹100 spent) on Dining, Departmental Stores, and Grocery purchases. 2 Reward Points per ₹100 on all other retail spends.

Redemption Value: 4 Reward Points = ₹1.00 (1 Reward Point = ₹0.25). Points can be redeemed for air miles (Club Vistara / Air India) or statement credit.

🛫Airport & Railway Lounge Access

6 complimentary international airport lounge visits per calendar year outside India via complimentary Priority Pass Program (max 2 visits per quarter). 8 complimentary domestic airport lounge visits per year in India (max 2 visits per quarter).

🛡️Insurance & Fuel Surcharge Waiver

Insurance Cover: Complimentary Air Accident Liability Cover of ₹1 Crore. Fraud Liability cover up to ₹1 Lakh.

Fuel Surcharge: 1% fuel surcharge waiver for transactions between ₹500 and ₹4,000 at all petrol pumps in India (maximum ₹250 per statement cycle).

🎯Milestone Spends & Grace Period

Milestones: Free movie tickets worth ₹6,000 every year (up to 2 tickets per month worth ₹250 each on BookMyShow). Earn up to 50,000 bonus Reward Points (worth ₹12,500) on achieving annual spend milestones of ₹3L, ₹4L, ₹5L, and ₹8L.

Interest-Free Period: 20 to 50 days.

What's Missing (Eligo's Honest Disclosures)

Fine-Print Exclusions & Realistic Costs

High annual fee waiver threshold of ₹10 Lakhs. BookMyShow movie benefit requires purchasing at least 2 tickets to claim the ₹250/ticket discount. Guest visits to international lounges via Priority Pass are charged at standard lounge rates.

Forex Markup Fee1.99% low foreign currency markup fee — one of the lowest in the premium card segment.

Cash Advance Fee2.5% of transaction amount or ₹500 (whichever is higher) + 3.50% per month.

Finance Charges (Interest)Up to 3.50% per month (42.00% per annum).

Late Payment SlabsNil up to ₹500; ₹400 for ₹501–₹1,000; ₹750 for ₹1,001–₹10,000; ₹950 for ₹10,001–₹25,000; ₹1,100 for ₹25,001–₹50,000; ₹1,300 for above ₹50,000.

Reward Points ExpiryReward points expire 24 months (2 years) from the date of accrual.

Categories Earning ZERO Rewards (Standard MITC Exclusion):Fuel transactions, utility payments, wallet loads, rent payments, educational payments, and government transactions.

Eligibility Criteria

High-income salaried executives and affluent business owners aged 21 to 70 years.

Age Requirement21 to 70 Years

Minimum Income₹12,00,000 per annum (Salaried) / ₹15,00,000 per annum (Self-Employed ITR)

CIBIL Score NoteRecommended CIBIL score of 750+.

SBI RelationshipNot mandatory.

How to Apply (Official Procedure)

Online Digital Application Flow

1Visit sbicard.com/apply or open the YONO SBI app and select SBI Card ELITE.

2Select card and check instant eligibility (soft pull with zero impact on CIBIL credit score).

3Fill online application form with personal, residence, and occupational details (takes 5–10 minutes).

4Upload required KYC documents (Aadhaar, PAN, and latest salary slip/ITR proof).

5Complete digital verification via online Video KYC (or schedule branch verification for first-time applicants).

6Card dispatched within 5–7 working days via secure speed post; activate via SMS or SBI Card App.

Branch Application for Offline Applicants

Available via SBI Wealth Hubs and commercial bank branches with dedicated relationship manager assistance.

Visit Official Card Page (sbicard.com)Download Official MITC (PDF)

Documents Required

1. PAN Card

2. Proof of Identity & Residence (Passport, Aadhaar)

3. Income Proof: Last 3 months' salary slips with Form 16 OR Last 2 years' ITR with computation sheet.

Frequently Asked Questions (Official MITC)

What happens if I miss the minimum payment due on SBI Card ELITE?

If you do not pay at least the Minimum Amount Due (MAD) on or before the due date, late payment penalties will be charged according to the issuer's tariff: Nil up to ₹500; ₹400 for ₹501–₹1,000; ₹750 for ₹1,001–₹10,000; ₹950 for ₹10,001–₹25,000; ₹1,100 for ₹25,001–₹50,000; ₹1,300 for above ₹50,000.. In addition, revolving finance charges at Up to 3.50% per month (42.00% per annum). will be calculated from the original transaction dates on all outstanding balances and fresh purchases. You will lose the interest-free grace window, and the overdue record will be transmitted to credit bureaus (CIBIL, Experian, CRIF High Mark), adversely impacting your credit score.

Can I convert transactions on SBI Card ELITE into EMI?

Yes, State Bank of India (SBI Card) provides merchant EMI and post-purchase in-app EMI conversion options for eligible transactions (typically above ₹1,500 to ₹2,500). Cardholders can configure repayment schedules from 3 to 24 months via the bank's mobile application, net banking dashboard, or SMS prompt. Conversion is subject to a nominal one-time processing fee (usually 1% to 2% + 18% GST) and tenure-based interest charges.

How do I track and redeem reward points or cashback on SBI Card ELITE?

You can monitor accrued reward points or cashback by accessing your monthly e-statements or logging into State Bank of India (SBI Card)'s official mobile banking application or web portal. 4 Reward Points = ₹1.00 (1 Reward Point = ₹0.25). Points can be redeemed for air miles (Club Vistara / Air India) or statement credit. Please note: Reward points expire 24 months (2 years) from the date of accrual.

What is the interest-free grace period on SBI Card ELITE and how does it work?

The interest-free period on SBI Card ELITE is 20 to 50 days.. This benefit is applicable strictly when the full Total Amount Due from the previous billing cycle was cleared by the payment due date. If any residual balance is carried forward, all purchases immediately incur daily finance charges (Up to 3.50% per month (42.00% per annum).) with zero grace period. ATM cash withdrawals never receive a grace period and incur interest and cash advance fees from the withdrawal timestamp.

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