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: Mastercard / VisaTravel & Aviation CardsLast Verified: 2026-09-28

SBI Card MILES ELITE

एसबीआई कार्ड माइल्स एलीट

Dedicated international travel currency card offering 5,000 welcome Travel Credits, 1:1 air miles transfer across 20+ global airlines, 1.99% forex markup, and 14 lounge visits.

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

Reward Rate6 Travel Credits per ₹200 spent on Travel Bookings (flights, hotels via dedicated travel portal). 2 Travel Credits per ₹200 spent on all other retail categories.

Airport Lounge8 complimentary domestic airport lounge visits per calendar year (max 2 visits per quarter). 6 complimentary international airport lounge visits per year via Priority Pass. Cardholders earn 1 additional domestic lounge visit per ₹1 Lakh retail spend.

Forex Markup1.99% low foreign currency markup fee for international transactions.

What Is This Card

SBI Card MILES ELITE is SBI's newly launched dedicated travel currency card for international frequent flyers. It allows cardholders to earn flexible 'Travel Credits' that convert 1:1 into frequent flyer miles across over 20 global airlines and hotel chains, supported by an ultra-low 1.99% forex markup.

Key Benefits (Official MITC Sourced)

💳Annual Fee & Joining Fee

₹4,999 + GST (Renewal: ₹4,999 + GST)

Fee Waiver: Spend ₹15,00,000 or more in the preceding membership year to get the annual renewal fee of ₹4,999 reversed.

🎁Welcome Benefit

5,000 Travel Credits (convertible 1:1 into 5,000 Air Miles or Hotel Loyalty Points across 20+ airline/hotel partners) upon payment of joining fee.

⚡Reward Points Structure

6 Travel Credits per ₹200 spent on Travel Bookings (flights, hotels via dedicated travel portal). 2 Travel Credits per ₹200 spent on all other retail categories.

Redemption Value: 1 Travel Credit = 1 Air Mile / 1 Hotel Loyalty Point (1:1 conversion ratio) across partners including Air India, Singapore Airlines, Etihad, Accor, and IHG.

🛫Airport & Railway Lounge Access

8 complimentary domestic airport lounge visits per calendar year (max 2 visits per quarter). 6 complimentary international airport lounge visits per year via Priority Pass. Cardholders earn 1 additional domestic lounge visit per ₹1 Lakh retail spend.

🛡️Insurance & Fuel Surcharge Waiver

Insurance Cover: Air Accident Liability Cover of ₹1 Crore. Lost Card 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: Up to 20,000 bonus Travel Credits on reaching annual spends of ₹8L and ₹12L. Spend ₹15 Lakhs for annual fee waiver.

Interest-Free Period: 20 to 50 days.

What's Missing (Eligo's Honest Disclosures)

Fine-Print Exclusions & Realistic Costs

Very high spend requirement of ₹15 Lakhs to waive the ₹4,999 annual fee. Conversion transfers to airline partner accounts require a minimum transfer threshold (typically 1,000 credits) and may take up to 7 business days to reflect in partner accounts.

Forex Markup Fee1.99% low foreign currency markup fee for international transactions.

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 ExpiryTravel Credits are valid for 24 months 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 self-employed 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 MILES 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 branch relationship desks.

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

Documents Required

1. PAN Card

2. Passport / Aadhaar Card

3. Last 3 months' salary slips with Form 16 OR Last 2 years' audited ITR.

Frequently Asked Questions (Official MITC)

What happens if I miss the minimum payment due on SBI Card MILES 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 MILES 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 MILES 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. 1 Travel Credit = 1 Air Mile / 1 Hotel Loyalty Point (1:1 conversion ratio) across partners including Air India, Singapore Airlines, Etihad, Accor, and IHG. Please note: Travel Credits are valid for 24 months from the date of accrual.

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

The interest-free period on SBI Card MILES 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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