Fees
Annual feeINR 1,499 + GST
Joining feeINR 1,499 + GST
Renewal feeINR 1,499 + GST
Fee waiverAnnual fee reversed on INR 3,00,000 spend in preceding membership year
Spend waiverINR 3,00,000
Interest rate3.50% per month
Late paymentINR 400 – INR 1,300 based on outstanding amount
Forex markup3.5% + GST
Cash advance2.5% of amount (minimum INR 500)
Eligibility
Min income (salaried)INR 50,000 per month (approx.)
Rewards & cashback
Accelerated rate10 RP per INR 100 on eligible PhonePe spends (Recharges, Utilities, Bills, Travel — via PhonePe app only): Insurance sub-cap 500 RP/month + Other PhonePe sub-cap 1,500 RP/month (split eff. Jul 1, 2026; was combined 2,000 RP/month). 5 RP per INR 100 on eligible online spends: capped 1,000 RP/month (eff. Jul 1, 2026; was 2,000 RP/month). 1 RP = Re. 1. RuPay variant earns 1 RP/INR 100 on UPI Scan & Pay.
Cashback capOnline spend cap halved to 1,000 RP/month; PhonePe Insurance sub-capped at 500 RP/month (eff. Jul 1, 2026). Utility/Insurance/UPI earn zero RP outside PhonePe app. Tolls, gifts, jewellery, educational institutions now zero-RP categories.
Redemption optionsStatement credit (1 RP = Re. 1; minimum 500 RP). Gift vouchers via SBI Card Rewards portal. Exempt from SBI-wide 60,000 RP/month redemption cap.
Welcome bonusWelcome: INR 1,500 PhonePe Gift Card credited within 45 days of joining fee payment. Milestone: INR 5,000 Yatra voucher on INR 5 lakh annual spend.
Travel & lounge
Domestic lounge4 complimentary domestic airport lounge visits per year (1 per calendar quarter) via Visa or RuPay network card swipe — no spend condition
International loungeComplimentary 2-year Priority Pass membership (membership fee waived; individual lounge visits charged at standard Priority Pass rates ~$32/visit — not complimentary)
Lifestyle
Fuel surcharge1% fuel surcharge waiver on transactions INR 500–INR 3,000 per fueling (standard SBI structure)
Special offersWelcome voucher (INR 1,500 PhonePe Gift Card) effectively offsets first-year joining fee. Annual fee waived on INR 3L spend (~INR 25,000/month). Heavy PhonePe users earn 10% back on bills, recharges, insurance and travel via PhonePe app.
Additional benefitsAvailable on both Visa and RuPay networks. RuPay variant supports UPI Scan & Pay earning (1 RP/INR 100 — rare for credit cards). Exempt from SBI-wide 60,000 RP/month statement-credit redemption cap. DCC fee: 3.5% — not suited for international spending.
Digital & security
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