PhonePe SBI Card PURPLE
Co-branded
Reward Points
1st Year Fee: ₹499* Plus Applicable Taxes
Co-branded
3% rewards on PhonePe spends
Shopping
2% rewards on select online spends
Welcome Benefits
PhonePe gift card worth Rs. 500
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About PhonePe SBI Card PURPLE
PhonePe SBI Card PURPLE is the base variant of the two co-branded credit cards offered by SBI Card and PhonePe. The card offers 3% value-back on select PhonePe spends, including recharges, utility bill payments, insurance, travel bookings, and PhonePe PINCODE orders. Besides this, it offers 2% reward points on select online spends. Unlike PhonePe HDFC Uno Credit Card, this card offers a base reward rate of 1% on other online and offline spends, which further enhances its overall value. Cardholders can redeem the accumulated reward points against cashback and vouchers at a value of Rs. 1 per point.
Another notable benefit is that the card is also offered on the RuPay network, which allows cardholders to link their card with the UPI apps and earn benefits on UPI spends as well. The card also compensates for its joining fee by offering a PhonePe gift card worth Rs. 500 at the time of joining. Additionally, the card also offers a Yatra voucher worth Rs. 3,000 as a milestone benefit, allowing frequent travellers to maximize their savings.
Overall, when compared to PhonePe HDFC Uno Card, SBI PURPLE offers better value at the same annual fee, due to its higher reward rate, rewards on offline & in-store spends, and direct welcome benefits. This card is a suitable option for consumers looking to maximize savings on their PhonePe spends.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit SBI Card’s website.
Rewards Program
- 3 reward points for every Rs. 100 spent on recharges, utilities, bill payments, insurance, travel (via PhonePe) and PhonePe PINCODE, capped at 1,000 points per month
- 2 reward points for every Rs. 100 on eligible online spends, capped at 1,000 points per month
- 1 reward point for every Rs. 100 spent on other categories, capped at 1,000 points per month1
- 1 reward point for every Rs. 100 spent on utilities & insurance outside PhonePe, capped at 250 points per month
- 1 reward point per Rs. 100 on all Scan & Pay transactions
- Redeem reward points against cashback or vouchers at a value of 1 Reward Point = Rs. 1
Other Features and Benefits
Welcome Benefit
- PhonePe gift card worth Rs. 500 after the payment of joining fee
Milestone Benefits
- Yatra voucher worth Rs. 3,000 on spending Rs. 3 Lakh in a year
Annual Fee Waiver
- Annual fee waiver on annual spends of Rs. 1 Lakh
PhonePe SBI Card PURPLE: Fees & Charges
| Particulars | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 499 + Applicable Taxes | ||||||||||||||
| Annual Fee | Rs. 499 + Applicable Taxes | ||||||||||||||
| Finance Charges | 3.75% p.m. | 45% p.a. | ||||||||||||||
| Late Payment Charges |
|
Things to Know Before you apply
Get this card if
You prefer to make recharges, bill payments & travel spends through PhonePe
You are looking for a low annual fee card offering benefits on UPI spends
You frequently spend online and want a card that offers decent value-back on online expenses
You can spend Rs. 3 Lakh in a year to maximize milestone benefits
Other Similar Cards
PhonePe HDFC Uno Credit Card
Paytm HDFC Credit Card
Airtel Axis Credit Card
Paisabazaar Review
What do we like about this card?
With 3% reward rate on select PhonePe spends, this card is a suitable option for consumers who prefer to make recharges, bill payments, and travel bookings through PhonePe. Additionally, it offers 2% rewards on select online spends, making it a good option for day-to-day expenses as well. In addition to this, the reward redemption ratio of 1:1 against cashback or vouchers further enhances the card’s overall value. The card is also available on the RuPay network, allowing cardholders to earn reward points even on UPI spends.
Pros
- 3X rewards on recharges, bill payments, and travel spends via PhonePe
- Good reward redemption ratio of 1:1
- Milestone benefits worth Rs. 3,000 via Yatra voucher
- Easily achievable annual fee waiver spending milestone
- Welcome benefits worth the joining fee without any spend-based condition
Cons
- Monthly capping on accumulated reward points
- No travel & lifestyle related benefits, such as lounge access
- Low reward rate on utility & insurance payments other than PhonePe
Conclusion
This card stands out against another similar card, PhonePe HDFC Uno Credit Card, by offering a higher value-back on PhonePe and other spends. While the HDFC card does not offer benefits on offline or in-store transactions, this card offers 1% reward points on such spends, making it a better pick for both online and offline spends. However, the monthly capping on each category limits the overall value. Still, this card offers decent value-back for consumers who prefer to spend primarily within the PhonePe ecosystem.
Frequently Asked Questions
Everything you need to know about this credit card
PhonePe SBI Card PURPLE is a better option if you want to maximize your savings on PhonePe spends. At the same annual fee, the SBI card offers a higher reward rate of 3% on PhonePe spends, along with 1% reward rate on offline and in-store spends. Also, unlike HDFC Uno Card, where the welcome benefits are split across 10+ transactions, this card offers a direct PhonePe gift card of Rs. 500 after the payment of joining fee.
You can apply for this credit card online by visiting the official SBI Card website and navigating to the card’s page. You are required to fill out the application form and upload the required documents. Besides this, you can also apply offline by visiting the nearest SBI branch.
Yes, you can earn reward points on utility and insurance spends made outside of PhonePe as well. However, the card offers a base reward rate of 1% on such transactions, with a monthly capping of 250 reward points.
This credit card does not offer exclusive travel benefits like airport lounge access or hotel memberships. However, you can earn 3% reward points on travel bookings made via PhonePe. Additionally, the card offers a Yatra voucher worth Rs. 3,000 as a milestone benefit on spending Rs. 3 Lakh in a year.
Yes, you can redeem the accumulated reward points against cashback and vouchers at a value of 1 Reward Point = Rs. 1.
Footnotes
- No reward points will be offered on fuel, e-wallet, rent, school, education, government & online gaming spends.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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