FinTown Rating: 4 / 5

Review Summary:

The SBI Elite Credit Card is a top end credit card offering from State Bank of India targeting premium customers. Consequently, this card is made for people who spend a lot on flight travel and also for those individuals who require the use of an international credit card. Although this card has several advantages and rewards, the card is best for individuals who expect their annual credit card spend to be greater than Rupees 10 lakhs.


The SBI Elite Credit Card is the State Bank of India’s premium credit card. SBI launched the Elite credit card to replace the SBI Signature credit card. The SBI Elite  Card is the card for you if you want MasterCard/Visa privileges, contactless purchase, universal acceptance, fraud liability cover, add-on cards, balance transfer on EMI and so much more.


  • Signup gift of a E-Voucher worth INR 5,000
  • Reward points can be redeemed against any outstanding balance
  • Free Movie tickets worth Rs. 500 every month
  • International and domestic airport lounge access programs
  • Complimentary Club Vistara silver and Trident Privilege red-tier membership
  • Low foreign currency mark-up charge of 1.99%


  • High Annual Fee at INR 4,999
  • High APR Interest Rate at 40.2%

SBI Elite Credit Card – Requirements:

  • Applicants must have an annual spend of INR 3,00,000 or above

SBI Elite Credit Card – Fees & Charges:

  • Annual Fee: INR 4,999
  • APR (Annual Interest Rate): 40.2%
  • Cash Advance Fee: 2.5% (maximum of INR 300)
  • Foreign Currency Transaction Fee: 1.99%
  • Late payment fee: INR 100-750
  • Over Limit Penalty: 2.5% of over limit (maximum of INR 500)

How much money will I get in rewards and cashback?

The estimated return value on an SBI Elite Credit card is up to 5x in rewards. So, in a year, a customer can earn a reward value worth INR 22,499 in the first year and INR 17,499 from the second year onwards. The redemption value of 1 reward point is equal to INR 0.25. Although that return rate might seem low, the reward points can be redeemed against any outstanding balance. On the other hand, most other credit cards don’t provide their customers with this facility. The breakup is split as follows:

  • Welcome gift worth INR 5,000 from vendors like Yatra, HushPuppies, Bata, Marks & Spencer, Shoppers Stop, etc
  • 50,000 reward points on an annual net spend of INR 8,00,000.
  • Annual fee waiver (INR 4,999) on an annual net spend of INR 10,00,000.

Some of the other rewards include:

  • Complimentary Trident Hotel Privilege Membership
  • Complimentary Club Vistara Membership
  • 1% Fuel Surcharge Waiver
  • Complimentary Priority Pass Membership with access to 6 international lounge access passes per year
  • Complimentary domestic airport lounge access passess

Which other cards should you look at?

One should also look at other credit cards that have similar rates, rewards and returns when evaluating the best credit card choice. Those who are interested in the SBI Elite Credit Card should also check HDFC Diners Club Credit Card and Yes Bank Preferred Credit Card.

Final Verdict:

The SBI Elite Credit Card is for customers with a moderate to high net spend. So, to gain the maximum benefit from this card, a customer must spend 10 lakhs a year (which is on the high side). Thus, the SBI Elite Credit Card is perfect for cardholders who can take advantage of the membership programs to Trident, Vistara, and Priority Pass.


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