SBI Card ELITE
SBI
₹4,999
Joining fee
₹4,999, waived at ₹10L spend
Annual fee
3.5%
Forex markup
4.5 / 5
Rating
Eligibility
Estimated minimum income: ₹90,000+/month
Estimated — not officially confirmed by the bank.
Estimated minimum CIBIL score: 760+
Estimated — not officially confirmed by the bank.
Age: 21–70
Salaried or self-employed; documentation: PAN, Aadhaar/government photo ID, address proof, and 3 months' salary slip or bank statement. CIBIL/income requirements not explicitly specified.
Reward details
2 points per Rs 100 on all other spends
- 5X points on Dining, departmental stores, and grocery (5X) — 10,000 points/month combined
Welcome bonus: Rs 5,000 in vouchers (choice of Bata/Hush Puppies, Pantaloons, Yatra, Shoppers Stop, or Aditya Birla Fashion); 1-year complimentary Club ITC membership with 50% discount on 2nd night stay
- Rs 3 lakh spend: 10,000 bonus points
- Rs 4 lakh spend: 10,000 bonus points
- Rs 5 lakh spend: 15,000 bonus points
- Rs 8 lakh spend: additional 15,000 points
Redemption
Ratio: 4 points = Rs 1 (0.25% value)
Excluded from rewards: fuel, rent, wallet reload, cash advances, balance transfers, fees, EMI transactions, government payments
- 2 complimentary movie tickets worth Rs 250 each per month via BookMyShow (up to Rs 6,000/year)
- 1% fuel surcharge waiver (Rs 500-4,000, capped at Rs 250/month)
- Credit card fraud liability cover Rs 1 lakh
- Concierge services (flower/gift delivery, online doctor consultation assistance)
- Previously-offered Club Vistara Silver Tier and Trident Red Tier memberships have been discontinued
Real-world feedback
Sourced from user reviews and comparison sites (aggregator/user-sourced), not confirmed by the bank.
Praise
- Movie benefit described as 'excellent', with vouchers easily compensating for the annual fee if maximized — Paisabazaar
- Accelerated rewards on practical everyday categories (grocery, dining) — Paisabazaar
- Competitively low forex markup — Paisabazaar
Complaints
- Overall reward rate of 2.5% described as lower than many entry-level and mid-range cards — Paisabazaar
- Previously-offered Club Vistara Silver Tier and Trident Red Tier memberships have been discontinued, reducing the card's travel proposition — Paisabazaar
- The Rs 10 lakh annual spend required for fee waiver is substantial given the card's modest reward rate — Paisabazaar
Sources
- Official (not independently verified) — not separately fetched/verified in this pass — figures drawn entirely from aggregator
- Aggregator — fees, eligibility, forex, lounge, rewards, sentiment