The State Bank of India offers the ELITE card for the people who travel frequently all over the country and the world. It is a travel and lifestyle credit card which offers a wide range of offers such as domestic and international lounge access, and discounts on an international and domestic flight and hotel bookings. Apart from this, the ELITE credit card has dining and entertainment offers as well.
Add – Earn up to 15,000 reward points on annual spends.
The credit limit of the State Bank of India ELITE credit card is given at the discretion of the bank. There are several factors involved which are the credit history of the applicant, the credit report and score. Apart from this, the ongoing debts or loans of the applicant is a factor for deciding the card limit.
Redeeming reward points can be done through net banking. To do so, here are the steps you need to follow:
|Type of Charge||Amount|
|Renewal fee||Rs.4,999 (From 2nd year)|
|Interest rate||Up to 3.35% per month|
|Add-On card fee||Nil|
|Cash withdrawal fee||
2.5% of the amount withdrawn or Rs.300 (SBI ATMs)
3% of the amount withdrawn or Rs.300 (International ATMs)
|Payment dishonor fee||2% of the payment amount; minimum of Rs.450|
|Statement request||Rs.100 per statement (more than 2 months old)|
|Cash payment fee||Rs.100|
From Rs.0 - Rs.200 - Nil
more than Rs. 200 up to Rs. 500 - Rs.100
More than Rs. 500 up to Rs. 1,000 - Rs.400
More than Rs.1,000 up to Rs. 10,000 - Rs.600
More than Rs. 10,000 up to Rs. 25,000 - Rs.800
More than Rs. 25,000 - Rs.950.
|Over limit fee||2.5% of the over limit amount; minimum of Rs.500|
|Rewards redemption fee||Rs.99|
|Foreign currency transaction||1.99%|
The above-mentioned list of documents is indicative. It can be changed, or additional documents can be asked when you apply for the ELITE credit card.
The primary method to apply for this card is through the website of State Bank of India.
However, you can also apply for a credit card through the website of BankBazaar. To do so, here are the steps which need to be followed:
You will be required to pay Rs.4,999 as the initial fee.
The annual membership fee for SBI ELITE credit card is Rs.4,999. The annual fee is waived off if you spend Rs.10 lakh or more with the card for a year.
Cardholders are offered a fraud liability cover worth Rs.1 lakh. You will be required to report the loss within 48 hours. You will need to visit the website of the bank or call the SBI credit card customer care helpline.
The cash advance limit offered for this card is up to 80% of the total credit limit.
Yes, you can avail various add-on cards on the Elite Credit Card. You can apply for a supplementary card online or by visiting the nearest branch.
Yes, you can enjoy four free rounds of green fees access and up to 50% discounts on golf games. This comes with 1 free lesson every month at a few golf courses in the country.
Many credit card issuers will review accounts on a periodic basis and they will automatically increase the credit limit. However, you can always request for your credit limit for the credit card to be increased.
An increase in the credit limit can actually improve your credit score. This will give you more access to funds in case you have an emergency.
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