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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :18/04/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :18/04/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 18/04/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :18/04/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 18/04/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :18/04/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :18/04/2021

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हिंदी में पढ़े
Updated: 18-03-2021 09:21:53 AM

SBI Elite Credit Card is an all-rounder premium credit card with benefits across varied categories including travel, shopping, movies and more. Available at a relatively high annual fee of Rs. 4,999, this credit card generously gives back to the users. The card also offers complimentary membership to Club Vistara and Priority Pass Program..  With a reward rate of 2.5% (on certain categories) SBI Card Elite  is a highly rewarding card, especially if you are a high spender. Read more to know about the detailed features and benefits of the card.

Key Highlights of SBI Elite Credit Card

Annual FeeRs. 4,999 (reversed on annual spends of Rs. 1 lakh)
Best Suited ForTravel and Shopping
Card TypePremium
Paisabazaar Rating★★★★(4/5)
Minimum Income RequiredRs. 60,000 per month
Base Rewards Rate2%
Welcome BenefitRs. 5,000 worth welcome gift vouchers
Read SBI Elite Review  |    Fees  |   Eligibility   |  FAQs   |   Apply 
SBI Elite Credit Card- Features and Benefits
SBI Elite Credit Card- Fees and Charges
Is the Rs. 4,999 Annual Fee Justified?
SBI Elite Credit Card- Eligibility and Documentation
Should you get SBI Elite Credit Card?
How to Apply for SBI Elite Credit Card?
Frequently Asked Questions (FAQs)

SBI Elite Credit Card- Features and Benefits

Welcome e-gift voucher worth Rs. 5,000

SBI Elite Credit Card charges a joining fee of Rs. 4,999 but returns the entire amount in the form of a Rs. 5,000 welcome gift voucher. You can choose the brand of your choice from the varied brands that include Hush Puppies/ Bata, Yatra.com, Shoppers Stop and Pantaloons, Aditya Birla Fashion.

You will receive an SMS to choose from e-voucher options within 15 days of annual fee payment.The e-voucher will be sent to your registered mobile number/email ID, within 5 days of the request.

ELITE Rewards on all your purchases

SBI Card Elite is a highly rewarding card, especially  if you are a high spender. Following is the reward point structure of SBI Elite Credit Card-

  • 5X Reward Points on Dining, Departmental stores and Grocery Spends
  • 2 Reward Points per Rs. 100 on all other spends, except fuel
  • 2 Reward Points on every Rs.100 spent on International transactions
4 REWARD POINTS= Re. 1
Milestone Rewards

Get up to 50,000 Bonus Reward Points worth Rs. 12,500/ year. Reward points are given in the following manner:

  • 10,000 bonus rewards each on spending Rs. 3 Lakh and Rs. 4 Lakh in a year
  • 15,000 bonus reward points on spending Rs. 5 Lakh in a year
  • Additional 15,000 rewards on reaching annual spends of Rs. 8 Lakh

Converting into the cashback, 50,000 bonus rewards will be around Rs. 12,500. (Ratio of 4:1)

How to Redeem SBI Reward Points?

The reward points accumulated on SBI credit cards can be redeemed online by logging into SBI Card’s official website. They can also be redeemed by visiting the partner merchant store. Alternatively, users can also call on SBI Card helpline 39020202 (prefix local STD code) to redeem their reward points. Points can be redeemed in the multiple of 2000 points unless otherwise stated.

Know More

Free movie tickets worth Rs. 6,000 every year

If you think the annual fee of SBI Elite Credit Card is too high, you should know that the entire fee amount can be balanced against this benefit alone. The card offers complimentary movie tickets worth Rs. 6,000 every year. You can book 2 tickets per month under this offer and the maximum discount will be Rs. 250 per ticket. You would have to pay only the convenience fee applicable on the transaction.

Exclusive Travel Benefits  (Memberships and Lounge access)
Club Vistara and Trident Privilege Membership

With your SBI Elite Credit Card, you will get a complimentary Club Vistara Silver Membership. The membership includes:

  • 1 complimentary Upgrade Voucher
  • 9 Club Vistara Points for every Rs. 100 spent on Vistara Flights

Please note that this membership is only for primary cardholders. Once you get your new SBI Elite Credit Card, you should register for internet banking and then activate your Club Vistara Membership. Click here to apply for your Club Vistara Silver membership. 

SBI Elite Credit Card is a great option if you are a frequent traveler as it offers numerous travel benefits. Trident Red Tier Membership is another benefit that you can avail on this card. The membership includes-

  • 1,000 welcome points on registration
  • 10% instant discount on booking through the hotel’s website
  • 10 points per Rs. 100 spent for booking room at participating hotels
  • 1,500 points on your first stay
  • Additional 1,000 hotel credit on extended night stay (use promo code: SBITH)

This offer is valid for primary cardholders only and can be activated by visiting the internet banking facility of SBI Card.

Airport Lounge Access
Domestic Lounge Program2 complimentary Domestic Airport Lounge visits every quarter in India. For list of lounges visit Visa/ Mastercard/American Express
International Lounge Program*Complimentary membership to the Priority Pass Program worth $99

6 complimentary Airport Lounge visits per calendar year, outside India ( max. 2 visits per quarter)

Access over 1000 Airport Lounges worldwide

*Usage fee of $27+applicable taxes will be charged on your SBI Card ELITE for visits to the Priority Pass member lounge after the complimentary visits. Click here to know more about Priority Pass member Lounges. Only Primary Cardholders are eligible for Priority Pass and complimentary membership will be valid for 2 years only.

If you are a frequent traveller and specifically looking for a travel credit card, here are some other alternatives besides SBI Elite Credit Card-

Credit CardAnnual FeeBest ForKey Feature
American Express Platinum Travel Credit CardRs. 5,000Travel Vouchers & Lounge AccessTravel voucher worth Rs. 9,440
Citi PremierMiles Credit CardRs. 3,000Air Mile Earning10 miles for every Rs. 100 spent on all airline transactions
Air India SBI Signature Credit CardRs. 4,999Travel Rewards and Exclusive Benefits with Air India30 reward points for every Rs. 100 spent on Air India ticket booking
Standard Chartered Emirates World Credit CardRs. 3,000Travel Rewards with Emirates, Lounge Access and Golf Privileges5% cashback on duty free shopping and 6 Skyward miles on every Rs. 150 spent
HDFC Regalia Credit CardRs. 2,500International Airport Lounge AccessComplimentary Priority Pass Membership and Club Vistara Silver Membership
Checkout other Travel Credit Cards
Mastercard / Visa /American Express Privileges

Depending on the card network type, you can also avail additional benefits on your SBI Elite Credit Card as below-

MastercardVisaAmerican Express
4 rounds of complimentary green fees access and up to 50% off on golf games along with 1 complimentary lesson per month at selected golf courses across IndiaUp to 10% on Hertz car rental and up to 35% on Avis Car RentalsUp to 25% discount in your city (check available dining offers)
Up to 15% discount on best available room rates and up to 15% discount on F&B at Lalit HotelsExclusive benefits across 900 luxury hotels worldwideComplimentary Tablet plus membership (get access to VIP upgrades and privileges at hotels in India and around the world)
Other Benefits of SBI Elite Credit Card

The additional significant benefits of the card are mentioned below-

  • Dedicated assistance on Flower Delivery, Gift Delivery, Online Doctor Consultation (Concierge services)
  • Lowest Foreign Currency Mark-up Charge of 1.99% on International usage
  • SBI Card ELITE is accepted in over 24 million outlets across the globe, including 3,25,000 outlets in India
  • 1% fuel surcharge waiver, on every transaction between Rs. 500 to Rs. 4,000, at any petrol pump across the country (maximum surcharge waiver of Rs. 250 per statement cycle, per credit card account)
  • Complimentary credit card fraud liability cover of Rs. 1 lakh

SBI Elite Credit Card- Fees and Charges

Fees / ChargesAmount
Annual Fee (one time)Rs. 4,999
Renewal Fee (per annum)Rs. 4,999
Add-on FeeNil
Finance Charges Upto Rs.25 or 3.35% per month (40.2% per annum) whichever is higher, from the date of withdrawal
Minimum Amount Due5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)
Cash Advance FeeSBI ATMs or other ATMs or international ATMs: 2.5% of transaction amount, subject to a minimum of Rs. 500
Late Payment Fee
  • NIL for Total Amount due from Rs.0-Rs.500;
  • Rs. 400 for Total Amount due greater than Rs. 500 & up to Rs. 1000;
  • Rs. 750 for Total Amount due greater than Rs. 1000 & up to Rs. 10,000;
  • Rs. 950 for Total Amount due greater than Rs. 10.000 & up to Rs. 25,000
  • Rs. 1,100 for Total Amount due greater than Rs. 25,000 & up to Rs. 50,000
  • Rs. 1,300 for Total Amount due greater than Rs. 50,000
Overlimit Fee2.5% of overlimit amount subject to a minimum of Rs. 500
Foreign Currency Transaction Fee1.99%
Cash Advance LimitUp to 80% of the credit limit, with a maximum of Rs. 15,000 per day

Is the Rs. 4,999 Annual Fee Justified?

SBI Elite Credit Card charges an annual fee of Rs. 4,999 which makes it a bit costly one to have. However it is true to say that the annual fee is itself reversed in the form of welcome vouchers of Rs. 5,000 that the card offers. Overall, when compared with the benefits that it offers, the fee is justified. SBI Card has also set a fee waiver condition of reaching the spending milestone of Rs. 10 Lakh in a year which might seem too high for the cardholders. SBI Elite Credit Card is surely for the elite segment and if you are someone who would like to avail premium privileges, put high spends on the card and are willing  to pay a high annual fee for it, then this card is perfect for you. 

Earn up to 5X REWARD POINTS with HDFC Bank Diners Club Black Credit Card

HDFC Diners Club Black Credit Card is among the best premium credit cards in India. With this card you get-

  • 5 Reward points per Rs 150 on all retail transactions
  • 10X reward points on select partner brands
  • 2X reward points on weekend dining
  • Complimentary unlimited access to lounges across the globe for primary and add-on cards
  • 6 Complimentary Golf games per quarter across the worlds best courses

SBI Elite Credit Card- Eligibility and Documentation

CriteriaDetails
OccupationSalaried or Self-employed
Minimum Income for Salaried ApplicantsRs. 60,000 per month
Minimum Income for Self-employed ApplicantsRs. 60,000 per month
Serviceable CitiesClick here for the list of eligible cities
Documents RequiredClick here for the list of acceptable documents

Should you get SBI Elite Credit Card?

SBI Elite Credit Card would be best suited for the people who are heavy spenders and want an all-rounder card, even if it carries a high annual fee. The rewards rate on the card is not that great but satisfactory. However, the card offers decent travel benefits to the users, hence it is definitely a good travel credit card. In terms of hotel rewards, the card offers cardholders a 10% discount on top of a 2.50% rewards rate (10 points per Rs. 100, 1 point = Rs. 0.25) at participating Trident hotels.  Additionally, cardholders purchasing Vistara Airlines tickets will earn 2.25% rewards rate (9 points per Rs. 100, 1 point = Rs. 0.25) on their bookings. These hotel and flight booking rates allow cardholders to earn great rewards on all their travels.

Though the card offers decent opportunities to earn the rewards, the redemption choices are not hassle-free. The conventional rewards catalogue may not attract a lot of customers. There is a cashback option but in 4:1 ratio which is again not a very good deal.

Moreover, the Priority Pass Membership is only valid for 2 years after which you will have to pay $99 to continue the membership in order to enjoy the 6 complimentary lounge visits in a year. Though the first-year fee is returned in the form of welcome e-vouchers, the brand options are very limited. Also, the annual fee waiver condition of Rs. 10 lakh spend is high. 

At the end, SBI Elite Credit Card would suit the needs of a frequent traveler and a heavy spender.

Should get this card ifConsider other options if
  • You put most of the expenses on your credit card every month
  • You go out for movies and dining many times in a month
  • You travel abroad frequently and would take multiple trips in a year
  • You prefer staying in luxury hotels
  • You are looking for a credit card with great reward offerings
  • You are not ready to pay an annual fee of Rs. 4,999 or would not be able to get the maximum out of your card
  • You are not a frequent traveller
  • You do not shop from any of brands listed in the welcome voucher category

How to Apply for SBI Elite Credit Card?

  • Click here  to start the application
  • Enter basic details such as contact number, income, occupation, etc
  • Select the SBI Elite credit card from the available drop-down options list
  • Proceed with the eligibility check by providing some more details
  • If eligible, proceed with the application by providing personal details and employment details
  • Click on submit to complete the process
  • Once the details are verified, an executive will get in touch

You will have to submit the relevant documents. A field agent will come and collect the same from your home or office address. SBI Card will then examine your application and verify the documents, after which the card will be issued.

Frequently Asked Questions (FAQs)

Is SBI Card Elite credit card internationally acceptable?

Air India SBI Signature credit card is accepted at over 24 million Visa outlets worldwide, including 3,25,000 outlets in India.

Does the card offer fuel surcharge waiver & if yes, where can I avail it?

Yes, SBI Elite Credit Card offers fuel surcharge waiver. It can be availed at any petrol pump in India.

Can I transfer my outstanding balance on any other bank’s credit card?

Yes, SBI Card Elite credit card provides the facility of ‘Balance Transfer’ via which you can transfer balances from other bank’s credit cards to SBI Elite.

Does the card provide Fraud liability cover?

Yes, you get a cover of Rs. 1 Lakh against fraudulent transactions.

What should I do if I lose my credit card in a Foreign Land?

In case you lose your SBI Elite Credit Card in a foreign land you can call on a 24×7 Visa helpline number to get it replaced. Country wise numbers can be found here

State Bank of India Credit Card
(3.7/5 ) 7636 Reviews
Write a review
Jan 13, 2020
2/5
Very Basic Card

No extra rewards or benefits. Only basic features. Could have been better.

Jan 13, 2020
4/5
Liked it

SBI Simply Click is a good card for online shopping. I get a lot of rewards. Recommended!

Jan 2, 2020
4/5
Great Card for Travel

Wonderful credit card for travellers. Free membership helps a lot. Fee is high.

Jan 2, 2020
3/5
Good enough

I got this card when I had to travel a lot for work every month and it gave me good benefits. But the annual fee is high; it would have been better if I could get similar features for a lower fee. Other features are also good.

Jan 2, 2020
4/5
Good Credit Card

This is a great card for me as I shop at Big Bazaar and FBB frequently. The annual fee is also very less. I recommend this for regular shoppers.

Aug 8, 2019
5/5
Easy money facility

With the easy money facility having money delivered at home is not a problem.

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