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  • SBI Card ELITE

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    SBI Card ELITE

    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 that offers a wide range of offers such as domestic and international lounge access, and discounts on an international and domestic flights and hotel bookings. Apart from this, the ELITE credit card has dining and entertainment offers as well. The annual fee is Rs.4,999 + applicable taxes.

    Key Highlights of the SBI ELITE Card

    • Avail an e-Gift Voucher of Rs.5,000 on payment of the annual fees.
    • Get free movie tickets worth Rs.6,000 every year.
    • Earn up to 50,000 bonus reward points worth Rs.12,500 per annum.
    • You get access to the Priority Pass Program worth $99.

    Features and Benefits of the SBI ELITE Card

    Welcome benefits
    • Avail an e-Gift Voucher of Rs.5,000 on payment of the annual fees.
    • You can choose the voucher from any of the following brands:
      1. Yatra
      2. Hush Puppies/Bata
      3. Pantaloons
      4. Aditya Birla Fashion
      5. Shoppers Stop
    Entertainment benefits
    • Get free movie tickets worth Rs.6,000 every year.
    • This offer will be valid for a minimum of 2 tickets per booking per month.
    • A maximum discount of Rs.250 per ticket will be available for two tickets.
    Milestone benefits
    • Earn up to 50,000 bonus reward points worth Rs.12,500 per annum.
    • Earn up to 10,000 bonus reward points on an annual expenditure of Rs.3 lakh and Rs.4 lakh.
    • Earn up to 15,000 bonus reward points on annual spends of Rs.5 lakh and Rs.8 lakh.
    • When you spend Rs.10 lakh in a year, the annual fee for the previous year will be reversed.
    ELITE Rewards
    • Earn 5X reward points for spending on department stores, dining, and groceries.
    • Earn 2 reward points for every Rs.100 spent on all other spends.
    • Reward points cannot be earned on fuel spends.
    Trident membership benefits
    • Get 1,000 welcome points when you become a member.
    • You get 1,500 bonus points on your first stay.
    • You get an additional Rs.1,000 hotel credit (on extended night stay).
    Airport and lounge benefits
    • You get access to the Priority Pass Program worth $99.
    • Get 6 complimentary international airport lounge visits every year. (2 visits per quarter).
    • You get 2 complimentary domestic airport lounge visits every quarter.
    Low Foreign Exchange Markup The SBI ELITE credit card offers the lowest forex mark-up charge at 1.99% for international use.
    Vistara Membership
    Concierge Service With this card, you are also entitled to exclusive assistance from the bank with travel bookings, holiday packages, movies and dining reservations.

    SBI ELITE Credit Card Limit

    The credit limit of the SBI card ELITE 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 are a factor for deciding the card limit.

    How to Redeem Reward Points Earned on SBI ELITE Credit Card Limit

    You can redeem your reward points via the SBI credit card net banking website.

    Step 1: Log into net banking account.

    Step 2: Select the option of 'redeem rewards' from the main page.

    Step 3: Your rewards will be shown on the left side of the page.

    Step 4: Choose the reward category from which you wish to redeem the points.

    Step 5: Add your city.

    Step 6: Input the quantity of the reward and then select 'add to cart'.

    Step 7: Check the disclaimer and then select the option of 'place order'.

    Fees and Charges of the SBI ELITE Credit Card

    Type of Charge Amount
    Joining Fee Nil
    Annual fee Rs.4,999
    Renewal fee per annum Rs.4,999 (From 2nd year)
    Add-On card fee Nil
    Cash advance fee

    2.5% of the amount withdrawn or Rs.500 (Domestic ATMs)

    2.5% of the amount withdrawn or Rs.500 (International ATMs)

    Finance Charges 3.50% per month or 42% per annum
    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.250
    Late payment
    • From Rs.0 to Rs.500 - Nil
    • More than Rs.500 up to Rs.1,000 - Rs.400
    • More than Rs.1,000 up to Rs.10,000 - Rs.750
    • More than Rs.10,000 up to Rs.25,000 - Rs.950
    • More than Rs.25,000 up to Rs.50,000 - Rs.1,100
    • More than Rs.50,000 - Rs.1,300.
    Cheque payment fee Rs.100
    Over limit fee 2.5% of the over limit amount; minimum of Rs.600
    Rewards redemption fee Rs.99
    Foreign currency transaction 1.99%

    Eligibility Criteria of SBI Card ELITE

    • You must be between the ages of 18-70 years.
    • The add-on cardholder must be above the age of 15 years.
    • The applicant must be a citizen of India.
    • A credit score of 750 or above is essential to be eligible for the card.

    Documents Required to Apply for SBI Card Elite

    • Identity proof, which is PAN, driving licence, Aadhaar Card, etc.
    • Proof of income such as the latest salary slips, Form 16, copy of IT returns, etc.
    • Filled application form.
    • A copy of Form 60 or PAN card.
    • Proof of residence which can be a Passport, Ration Card , electricity bill, Aadhaar, etc.
    • Colored passport size photographs of the applicant.

    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.

    How to Apply for the SBI Credit Card Elite Online?

    The primary method to apply for this card is through the website of State Bank of India.

    However, you can also apply for SBI credit card through the website of BankBazaar. To do so, here are the steps which need to be followed:

    Step 1: Click on the option of 'Check Eligibility' to check if you are eligible for the card.

    Step 2: Add the information which is asked and submit it.

    Step 3: The portal will need a list of documents to be uploaded.

    Step 4: Once done, you can use the tracking ID under the option of 'Track Application'.

    FAQs on SBI Elite Credit Card

    1. How much is the membership fee per annum? Can I get it waived off?

      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.

    2. Explain the fraud liability cover that comes with this card.

      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.

    3. What is the cash advance limit for SBI ELITE Card?

      The cash advance limit offered for this card is up to 80% of the total credit limit.

    4. Can I apply for a supplementary card?

      Yes, you can avail of various add-on cards on the ELITE Credit Card. You can apply for a supplementary card online or by visiting the nearest branch.

    5. Does this card have any green fees benefits?

      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.

    6. Will the credit limit of this card automatically increase?

      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.

    7. Is it good to increase my credit limit on an SBI ELITE card?

      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.

    8. What if I lose my SBI ELITE card?

      The facility to replace your SBI ELITE card is available all around the world.

    9. Does the SBI ELITE card offer a fuel surcharge waiver?

      Yes, a 1% fuel surcharge is waived off for all transactions between Rs.500 and Rs.4,000 at all petrol pumps in the country.

    10. What is the foreign currency mark-up charge of the SBI ELITE card?

      The foreign currency mark-up charge of the SBI ELITE card is 1.99%.

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