SBI Card Elite Review – Are you looking for a credit card that offers exclusive benefits and rewards? Look no further than the SBI Card Elite, India’s premier credit card.
With the SBI Card Elite, you can unlock a range of exclusive benefits, rewards, and privileges. This card offers an array of features such as accelerated reward points, exclusive dining and travel offers, and more. Plus, you can enjoy low annual fees and other exclusive privileges.
This pricemint review article will provide you with all the information you need to know about the SBI Card Elite, including eligibility criteria, features, and how to apply. With this card, you can enjoy a host of privileges and rewards, making it the perfect choice for frequent travelers and luxury shoppers.
Table of Content
- Table of Content
- SBI Card Elite Key Factors
- What Are The SBI Card Elite Features And Benefits
- Benefits
- Features
- Additional Gifts
- The Eligibility Criteria For SBI Card Elite
- How to Apply For SBI Card Elite
- The charges And Fees on The ELITE Card
- Let’s Compare The SBI Card Elite Vs Prime
- Conclusion
- Frequently Asked Questions
- SBI Bank More Popular Credit Cards
SBI Card Elite Key Factors
| Key Information | Details |
|---|---|
| Card Name | SBI Card Elite |
| Card Type | Premium Credit Card |
| Annual Fee | Rs. 4,999 (waived off on spending more than Rs. 10 lakhs in the previous year) |
| Welcome Benefits | – A welcome gift worth Rs. 5,000 – From multiple partners such as Yatra, Hush Puppies/Bata, Pantaloons, Aditya Birla Fashion and Shoppers Stop |
| Milestone | – On spending 3 lakhs get 10,000 bonus Reward Points – 15,000 bonus Reward Points on a 5 Lakh spending goal |
| Rewards Program | Accelerated reward points on various categories |
| Complimentary Lounge Access | Yes, through Priority Pass |
| Travel Benefits | Travel insurance, fuel surcharge waiver, 1% fuel surcharge waiver |
| Lifestyle Benefits | Golf course access, movie ticket discounts, and concierge services |
| Foreign Currency Markup Fee | 1.99% of the transaction amount |
| Cash Advance Fee | 2.5% of the transaction amount or Rs. 500 (whichever is higher) |
| Late Payment Fee | Rs. 750 to Rs. 1,300 depending on the amount due |
| Over-limit Penalty | 2.5% of the over-limit amount, subject to a minimum of Rs. 500 |
| Minimum Age | 21 years |
| Maximum Age | 70 years |
| Credit Score | Good |
| Income | Regular source of income |
| Interest Rate | Ranges from 29.88% to 42% per annum based on creditworthiness |
| Card Replacement Fee | Rs. 100 |
What Are The SBI Card Elite Features And Benefits
The SBI Card Elite is a premium credit card offered by the State Bank of India (SBI). It is designed to provide customers with a host of exclusive benefits and rewards. The card offers a range of features such as unlimited reward points, exclusive discounts, cashback offers, and more.
The SBI Card Elite also offers a range of other benefits such as emergency assistance, concierge services, and purchase protection. The card also offers a fuel surcharge waiver of up to Rs. 250 per month.
Benefits
The SBI Card Elite offers a range of benefits that make it an attractive choice for those looking for a premium credit card. These include:
- Welcome Benefit: Cardholders can enjoy a welcome benefit of up to 10,000 reward points when they make their first transaction within 90 days of card issuance.
- Reward Points: Cardholders can earn up to 5X reward points on their spending on Dining, Departmental stores, and Grocery Spends and Earn 2 Reward Points per Rs. 100 on all other spends (Fuel Not Selected)
- Complimentary Movie Tickets: Cardholders can get up to a Maximum discount is Rs. 250/ticket for 2 tickets only per month. you can save up to 6,000 every year on movie tickets.
- Travel Benefits: Cardholders can enjoy a range of travel benefits such as 6 complimentary International Airport Lounge visits per year, 2 complimentary Domestic Airport Lounge visits every quarter in India, and exclusive discounts on flight and hotel bookings.
- Fuel Surcharge Waiver: Cardholders can enjoy a fuel surcharge waiver of up to Rs. 100 per month.
- Other Benefits: Cardholders can also enjoy a range of other benefits such as exclusive discounts on dining, shopping, and entertainment.
Features
The SBI Card Elite also offers a range of features that make it an attractive choice for those looking for a premium credit card. These include:
- Contactless Payments: Cardholders can make contactless payments using their SBI Card Elite at select partner outlets.
- Online Account Management: Cardholders can manage their SBI Card Elite account online through the SBI Card website.
- Global Acceptance: The SBI Card Elite is accepted at over 24 million outlets worldwide.
- Security: The SBI Card Elite is equipped with advanced security features such as 3D Secure and Verified by Visa.
- Flexible Payment Options: Cardholders can choose from a range of flexible payment options such as EMI, cashback, and balance transfer.
- 24/7 Customer Care: Cardholders can get round-the-clock customer care assistance from the SBI Card team.
Additional Gifts
- Complimentary Trident Privilege Red Tier membership
- For Mastercard, get benefits of up to 50% off on golf games along with 1 complimentary lesson per month
- For VISA Card holders, get benefits of up to 10% on Hertz car rentals and up to 35% on Avis Car Rentals
- Lowest Forex Markup OF 1.99% And 2 Rewards on Internationally Usage of the card
- Get benefits of Dedicated assistance on Flower Delivery, Gift Delivery, and Online Doctor Consultation.
- Complimentary Club Vistara Silver membership with vouchers
- Complimentary membership to the Priority Pass Program worth $99
The Eligibility Criteria For SBI Card Elite
First, you must be an Indian resident aged 21 years or above. You must also have a good credit score and a stable income. Additionally, you must have a valid PAN card and valid address proof.
In terms of income, you must have a minimum annual income of Rs. 6 lakhs. If you are a salaried individual, you must have a minimum net monthly salary of Rs. 60,000. If you are a self-employed individual, you must have a minimum annual income of Rs. 10 lakhs.
In addition to these criteria, you must also have a good credit history. This means that you must have a good repayment record and no outstanding dues.
| Eligibility Criteria | Details |
|---|---|
| Age | Minimum 21 years, Maximum 60 years |
| Nationality | Indian |
| Income | Minimum net monthly income of Rs. 60,000 |
| Credit Score | 750 or above (may vary based on the bank’s discretion) |
| Employment | Salaried or self-employed professionals/businesses |
| KYC Documents Required | Identity proof, address proof, and income proof documents |
How to Apply For SBI Card Elite
Applying for the SBI Card Elite is a simple and effortless process. To apply, you can click here to go SBI Card page and click on the ‘Apply Now’ button.
This will take you to the application page, where you will be required to fill in your personal and financial details.
Once you have completed the application form, you will need to submit the required documents such as your identity proof, address proof, and income proof.
Once your application is approved, you will receive your SBI Card Elite in the mail. You will also receive an activation code, which you will need to activate your card.
Once your card is activated, you can start using it to make purchases and avail yourself of the exclusive benefits and rewards.
The SBI Card Elite comes with a host of features and benefits, making it an ideal choice for those who want to enjoy a premium lifestyle.
It offers exclusive rewards, discounts, and privileges, as well as travel and lifestyle benefits. It also provides access to exclusive offers and discounts at leading restaurants, hotels, and retail outlets.
The charges And Fees on The ELITE Card
The SBI Card Elite comes with an annual fee of Rs. 4,999. This fee is waived off if the cardholder spends more than Rs. 10 lakhs in a year. The card also has a joining fee of Rs. 4,999.
| Fees and Charges | Details |
|---|---|
| Annual Fee | Rs. 4,999 (GST extra) |
| Renewal Fee | Rs. 4,999 (GST extra) |
| Add-on Card Fee | Nil |
| Finance Charges | Up to 3.35% per month or 40.2% per annum |
| Cash Advance Fee | 2.5% of the transaction amount (minimum Rs. 500) |
| Late Payment Fee | Rs. 100 to Rs. 750, depending on the total amount due |
| Over Limit Fee | 2.5% of the over limit amount (minimum Rs. 500) |
| Foreign Currency Markup | 1.99% of the transaction amount |
| Card Replacement Fee | Rs. 100 to Rs. 300, depending on the type of card |
| Payment Dishonor Fee | 2% of the payment amount (minimum Rs. 450, maximum Rs. 500) |
| Cash Payment Fee | Rs. 100 (for payments made at SBI branches) |
Let’s Compare The SBI Card Elite Vs Prime
| Features | SBI Card Elite | SBI Card Prime |
|---|---|---|
| Annual Fee | Rs. 4,999 (waived off on spending more than Rs. 10 lakhs) | Rs. 2,999 |
| Welcome Benefits | Welcome e- Gift Voucher worth Rs. 5,000 | Rs. 3,000 worth of e-vouchers from popular brands |
| Rewards Program | Accelerated reward points on various categories | Accelerated reward points on select categories |
| Lounge Access | Complimentary access to over 1000 lounges worldwide | 4 complimentary lounge visits per year through Priority Pass |
| Travel Benefits | Travel insurance, fuel surcharge waiver, fuel surcharge | Travel insurance, fuel surcharge waiver, 1% fuel surcharge |
| Waiver | waiver on transactions between Rs. 500 to Rs. 4,000 | A waiver on transactions between Rs. 500 to Rs. 4,000 |
| Lifestyle Benefits | Golf course access, movie ticket discounts, concierge | Movie ticket discounts, milestone rewards, concierge |
| Foreign Currency | 1.99% foreign currency markup fee | 3.5% foreign currency markup fee |
Conclusion
In conclusion, the SBI Card Elite is a great choice for those looking for a premium credit card. With its wide range of benefits, rewards, and features, it is sure to meet the needs of most customers. To apply for the SBI Card Elite, customers must meet the eligibility criteria, including having a good credit score and a steady income. With its low annual fee and no foreign transaction fees, the SBI Card Elite is a great option for those looking for a high-end credit card.
Frequently Asked Questions
The applicant must have a minimum annual income of Rs. 10 lakhs. Moreover, the salaried person must have a monthly income of 60,000 to get this premium type VISA/Mastercard Elite SBI Card.
The customer service number for the SBI Card is 1800-180-1290. You can also contact the customer service team through email or the SBI Card App.
You can redeem your reward points through the SBI website or mobile app. You can also redeem your points for cashback, gift vouchers, and more.
The State Bank of India Elite has an annual fee of Rs. 4,999 With Waived off benefits. There is also a one-time joining fee of Rs. 4,999.
SBI Bank More Popular Credit Cards
| Credit Cards | Annual Charges | Features |
|---|---|---|
| SBI Card Prime | Rs. 2,999 | Earn 20 Reward Points per Rs. 100 spent and Complimentary membership to Priority Pass Program |
| Paytm SBI Card | Rs. 499 | Get Up to 3% CASHBACK on each purchase through Paytm App |
| IRCTC SBI Platinum Card | Rs. 300 | benefits of 4 complimentary railway lounge access in a year |
| SBI Card Pulse | Rs. 1,499 | 1-year complimentary FITPASS PRO Membership |
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