PhonePe SBI Card SELECT BLACK
SBI
₹1,499
Joining fee
₹1,499, waived at ₹3L spend
Annual fee
3.5%
Forex markup
4.5 / 5
Rating
Eligibility
Estimated minimum income: ₹35,000+/month
Estimated — not officially confirmed by the bank.
Estimated minimum CIBIL score: 700+
Estimated — not officially confirmed by the bank.
Reward details
1% on other spends, capped at 2,000 points/month
- 10% on PhonePe (utilities, recharges, bills, travel, insurance) — 1,500 points/month generally, 500 points/month for insurance
- 5% on Eligible online spends — 1,000 points/month
Welcome bonus: Rs 1,500 PhonePe gift card upon fee payment
- Rs 5 lakh annual spend: Rs 5,000 Yatra voucher
Redemption
1 reward point = Rs 1 (cash or vouchers)
Ratio: 1:1
Excluded from rewards: utility/insurance payments outside PhonePe, fuel, e-wallets, rent, education, government services, jewelry, tolls, ATM withdrawals, disputed transactions
Real-world feedback
Sourced from user reviews and comparison sites (aggregator/user-sourced), not confirmed by the bank.
Praise
- 10% back on PhonePe spends covers categories often excluded elsewhere — Paisabazaar
- Straightforward 1:1 redemption ratio — Paisabazaar
- Milestone voucher provides tangible value — Paisabazaar
Complaints
- Capping on rewards earnings limits potential — Paisabazaar
- Priority Pass membership only offered for the first 2 years — Paisabazaar
- No international lounge access — Paisabazaar
Sources
- Official — rendered navigation content only, no product details
- Aggregator — fees, lounge, rewards, sentiment