SBI Card ELITE is a highly rewarding credit card by State Bank of India’s credit card arm- SBI Card. Offering numerous benefits on shopping as well as travel, this card is a perfect addition to your wallet. It is also quite beneficial for international usage as it offers the lowest foreign currency markup fee. SBI Card has also collaborated with select brands like Pantaloons, Yatra, Marks & Spencer, Bata/Hush Puppies and Shopper Stop to help the users make the most of this credit card.
SBI Card ELITE: Features
Here are some of the features of SBI Card ELITE-
Contactless Card: SBI Card ELITE allows you the benefit of contactless payments. You have to simply wave the credit card at a secure reader to complete your transaction. In addition to being fast, easy and convenient, the transaction is secure as you do not have to hand over the card for payment.
Internationally Recognized: SBI Card ELITE is accepted at over 24 million outlets around the world, including over 3.25 lakh outlets in India.
Access to ATMs Worldwide: Cardholders can withdraw cash at ATMs in over 100 countries using their SBI Card ELITE. This ensures that the customer never runs out of money,
especially during an emergency.
Easy Payment Facility: The amount spent using the SBI Card ELITE can be repaid through monthly installments over a period of time using SBI’s Flexipay feature. This makes it easy for customers to repay the amount.
Easy Replacement: SBI Card ELITE card can easily be replaced in any part of the world. There is also a 24×7 emergency helpline for replacement of the card when the customer is travelling abroad.
Add-On Cards: The primary SBI Card ELITE cardholder can add any member of their family to the credit account. The only condition is that the add-on cardholder is over 18 years of age.
Balance Transfer: SBI Card ELITE card allows users to transfer their due balance on other cards to the ELITE card and avail a repayment facility at lower rates of interest.
Easy Money: SBI Card ELITE also gives the option to get a demand draft or a cheque against your cash limit, right at the doorstep. The cardholder has to login to their account at sbicard.com to book the facility.
SBI Card ELITE: Benefits
SBI offers a range of benefits for cardholders of SBI Card ELITE. Let’s take a look at these benefits:
Welcome Gift: Customers get a welcome gift worth ₹ 5,000. This gift is in the form of gift coupons and vouchers that can be used at prominent brands such as Yatra, Hush Puppies, Marks & Spencer, Westside and Shopper’s Stop.
Elite Rewards: The card offers 5X reward points on dining, departmental stores and grocery. For other purchases, the card offers 2 reward points for every ₹ 100 spent. Every SBI Card ELITE reward point translates into ₹ 0.25 (4 reward points equal ₹ 1).
Free Movie Tickets: Customers are eligible for 2 free movie tickets each month from bookmyshow.com. The transaction would be valid when the cardholder books at least 2 tickets per booking per month. The maximum discount will be ₹ 250 per ticket. Considering this on an annual basis translates to free movie tickets worth ₹ 6,000.
Milestone Benefits: SBI Card ELITE holders can earn up to 50,000 Bonus Reward Points worth ₹ 12,500 per year. They earn 10,000 bonus reward points on hitting the ₹ 3 lakh and ₹ 4 lakh (each) spending limits. In addition, they earn 15,000 bonus reward points on spending ₹ 5 lakh and ₹ 8 lakh each.
Fuel Discounts: SBI Card ELITE offers 1% fuel surcharge waiver across all petrol pumps, provided that the maximum surcharge waiver is limited to ₹ 250 per month per credit card. The transaction values should range between ₹ 500 and ₹ 4,000.
Lounge Access: Customers have access to airport lounges in over 1,000 airports spread across the globe. This facility can be availed through a $99 Priority Pass Program that is offered free to cardholders. Also, 2 complimentary domestic lounge access benefits are also offered in a quarter.
Club Vistara Membership: Users will get a complimentary Club Vistara Membership with SBI Card ELITE. Along with this, they also get 1 complimentary Lounge Access Voucher and 1 Upgrade Voucher. Every time they use the card to book Vistara Flights, 9 CV points will be credited per ₹ 100.
Trident Privilege Membership: SBI Card ELITE also offers Trident Privilege Red Tier Membership. On registration, they get 1,000 welcome points, bonus points (1,000) on first stay and additional 1,000 credit on extended night stay. All they have to do is use the promo code SBITH.
Lowest Forex Markup: When you use your credit card in a foreign country, you have to pay foreign exchange mark-up fee in addition to the conversion rate. SBI Card ELITE offers the lowest markup fee in the market, that is, 1.99%.
SBI Card ELITE: Fees and Charges
|Annual Fee||₹ 4,999|
|Renewal Fee||₹ 4,999|
|Interest Free Credit Period||20-50 days applicable only on retail purchases and if previous months’ outstanding balance is paid|
|Extended Credit Charges||Up to 3.35% per month, accounting to 40.2% per annum from the transaction|
|Extended Credit Minimum Amount Due||5% of Total Outstanding (Min. ₹ 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)|
|Cash Advance limit||Up to 80% of credit limit, with a maximum of ₹ 15,000 per day|
|Cash Advance Charges||Up to 3.35% per month, accounting to 40.2% per annum from the date of withdrawal|
|Cash Advance Fee SBI or Other Domestic ATMs||2.5% of transaction amount, subject to a minimum of ₹ 300|
|Cash Advance fee International ATMs||3% of transaction amount, subject to a minimum of ₹ 300|
|Overlimit Charges||2.5% of overlimit amount subject to a minimum of ₹ 500|
Late Payment Fee
|Nil for total amount due from ₹ 0 to ₹ 200|
|₹ 100 for total amount due greater than ₹ 200 and up to ₹ 500|
|₹ 400 for total amount due greater than ₹ 500 and up to ₹ 1,000|
|₹ 500 for total amount due greater than ₹ 1,000 and up to ₹ 10,000|
|₹ 750 for total amount due greater than ₹ 10,000|
SBI Card ELITE- Eligibility and Documentation
SBI Card has set a few important eligibility requirements for someone who applies for SBI Card ELITE-
- He/she should be at least 18 years old.
- He/she should not be older than 60 years.
- He/she should have a regular source of income.
- He/she should have a clean credit history and a good credit score.Apart from these, the applicant should also be able to submit relevant proof of address, identity and income.
|Proof of Identity||PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI|
|Proof of Address||Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement|
|Proof of Income||Latest one or 2 salary slip (not more than 3 months old), Latest Form 16, Last 3 months’ bank statement|
How to apply for SBI Card ELITE
You can apply for SBI Card ELITE on Paisabazaar.com in a few easy steps-
- Visit the credit card section on Paisbazaar.com.
- Enter the details required and click on ‘Proceed’. You will find a list of credit cards you are eligible for.
- Filter the results for SBI credit cards by selecting ‘SBI’ from the bank list.
- Select ‘SBI Card ELITE’ and click on ‘Check Eligibility’. Now you will have to enter some more information.
- If you meet the eligibility criteria set by the bank, you can proceed with the online application.Once you have successfully submitted the online application form, you will get a call from Paisabazaar to decide the right time and place for document collection. After submitting the documents, you will have to wait for 10-15 days for the card to reach you.