PhonePe SBI Card PURPLE
SBI
cashback onlineupi rewards
₹499
Joining fee
₹499, waived at ₹1L spend
Annual fee
3.5%
Forex markup
4.5 / 5
Rating
Eligibility
Estimated minimum income: ₹20,000+/month
Estimated — not officially confirmed by the bank.
Estimated minimum CIBIL score: 650+
Estimated — not officially confirmed by the bank.
Reward details
1 point per Rs 100 on other categories, capped at 1,000 points/month
- 3 points per Rs 100 on PhonePe spends (recharges, utilities, insurance, travel) — 250 points/month on insurance, 750 points/month on other PhonePe categories
- 2 points per Rs 100 on Select online spends — 750 points/month
Welcome bonus: PhonePe gift card worth Rs 500 upon fee payment
- Rs 3 lakh annual spend: Yatra voucher worth Rs 3,000
Category caps
- Other categories: 1,000 points/month
Redemption
1 reward point = Rs 1 in cashback or vouchers
Ratio: 1:1
Excluded from rewards: utility/insurance outside PhonePe, fuel, e-wallet, rent, education, jewelry, tolls, gaming
Real-world feedback
Sourced from user reviews and comparison sites (aggregator/user-sourced), not confirmed by the bank.
Praise
- Higher reward rates versus the competing PhonePe HDFC card — Paisabazaar
- Straightforward 1:1 redemption ratio — Paisabazaar
- Welcome benefit granted without additional spend conditions — Paisabazaar
Complaints
- Monthly reward point caps limit overall value — Paisabazaar
- No exclusive travel/lifestyle benefits — Paisabazaar
- No rewards on PhonePe-external utility payments — Paisabazaar
Sources
- Official (not independently verified) — not separately fetched/verified in this pass — figures drawn entirely from aggregator
- Aggregator — fees, lounge, rewards, sentiment