In the competitive credit card industry, with so many of them and each having its perks, we have also got SBI’s ELITE credit card. One of the most premium credit cards found in India, which also has the benefits accordingly, but as it stands as one of the most expensive cards with an annual maintenance fees of Rs 4999 (+GST), many credit users tend to think, is SBI ELITE actually worth it? We are going to answer that question with this article, and therefore you can come to a conclusion if this card is the right fit for you or not.
Overview
This SBI card is a high-end credit card provided by the State Bank of India. SBI ELITE is aimed at those customers who are looking for a heightened travel, shopping, or lifestyle experience. SBI ELITE is an all-rounder card as compared to its competitor premium cards, including HDFC Regalia, Axis Magnus, and ICICI Sapphiro.
Key Benefits
1. Welcome Bonus of Rs 5000: The card gives vouchers of Rs 5000 to its new customers, and in case of use, then the voucher itself offset the annual fee of the first year.
2. Rewards for every expenditure: You get 2 reward points for each Rs 100 spending on most of the categories, excluding dining, departmental stores, and grocery spends as where you get nearly 5 times the normal points. Every reward point is equivalent to Re 0.25, and thus 4 reward points constitute a rupee. These points are also redeemable against shopping, travel booking, or in the form of cashback.
3. Milestone Benefits: When Rs 3 Lakh is spent, you achieve a milestone where you get another Rs 5000 voucher. Additionally, when Rs 4 Lakh, Rs 5 Lakh, and Rs 8 Lakh is spent, you even get vouchers worth Rs 20000.
4. Airport Longue Access: With SBI ELITE, you get 8 free domestic airport lounge visits per year (2 per quarter) and 6 free international lounge visits through Priority Pass (max 2 per quarter). These lounge access alone can be worth Rs 6,000– Rs 10,000 annually, depending on usage.
5. Movie Ticket Offers: You get several offers, such as buy 1 get 1 ticket via Bookmyshow, or Rs. 250 off on ticket bookings. Using an ELITE card, you can save up to Rs 3000 in a year on ticket bookings.
6. Exclusive Concierge Service: This service guides you with travel bookings, hotel reservations, and gift deliveries. it is a 24/7 assistance feature. Even though it is not of great use to everybody but it can be of real help to you if you travel frequently.
7. Global Acceptances: This card is accepted at over 24 million outlets around the globe, and has a forex mark-up of 3.5%.
8. Fuel Surcharge Waiver: This card provides you a waiver of 1% on fuel transactions between Rs 500- Rs 4000, the max waiver can be of Rs 250.
9. Lifestyle Perks
- Complimentary Club Vistara Silver Membership (occasionally offered via campaigns).
- Trident Privilege Red Tier membership.
- Birthday bonus of 500 reward points.
Also read: Best SBI Credit Cards for Online Shopping in 2025 – Is Yours on the List?
Fees
- Joining Fee: Rs.4,999 + GST
- Renewal Fee: Rs.4,999 + GST (waived if annual spends exceed Rs.10 lakh)
- Interest Rate: 3.5% per month (42% per annum)
- Foreign Currency Markup: 3.5%
- Reward Point Redemption Fee: Rs.99 per request
The SBI ELITE card fits you if-
- You spend Rs.5–10 lakh annually on your card
- Travel frequently, especially internationally
- Watch movies regularly via BookMyShow
- Shop for groceries, dine out, or buy from department stores
- Prefer lifestyle benefits like concierge services and luxury brand vouchers
The Shortcomings
- High Forex Markup: With a markup of 3.5%, it is higher than its competitors like HDFC, which provides at 2%. Making it a disadvantage for frequent foreign travellers and individuals who purchase foreign goods.
- Annual Fee Waiver Limit: You have to spend a minimum of Rs 10 Lakh to get an annual fee waiver for the next year, which is comparatively quite high.
- Low Reward Rate: The base reward rate of 0.5% is quite low, unless you hit one of the milestones or the bonus category.
- Limited Lounge Access: Cards like Axis Magnus and HDFC Infinia offer unlimited lounge access with a lower markup.
| Feature | SBI ELITE | HDFC Regalia | Axis Magnus | ICICI Sapphiro |
| Annual Fee | Rs.4,999 | Rs.2,500 | Rs.12,500 | Rs.3,500 |
| Lounge Access (Int’l) | 6/year | 6/year | Unlimited via PP | 4/year |
| Movie Benefits | Yes (B1G1) | No | No | Yes (B1G1) |
| Forex Markup | 3.5% | 2% | 2% | 3.5% |
| Milestone Rewards | Up to Rs.20,000 | Up to Rs.10,000 | Up to Rs.25,000+ | Up to Rs.10,000 |
Is SBI ELITE worth it after all the fees?
- Welcome gift: Rs.5,000
- Movie benefit: Rs.3,000/year
- Lounge access: Rs.6,000 – Rs.10,000/year
- Milestone rewards: Rs.5,000 -Rs.20,000 (based on spending)
- Total potential value: Rs.15,000 – Rs.30,000 +
There is a justification for the fees paid, especially for high spenders who enjoy spending on travel, movies, and other lifestyle perks. However, if you do not come under this category, then you are better off to go for mid-tier cards such as HDFC Regalia or Amazon Pay ICICI Credit Card (lifetime free).
Final Verdict
As our research and analysis come to an end, we come to realise that the SBI ELITE lives up to its premium card tag, as it provides most of the necessary benefits in travel and lifestyle shopping. Even though the annual maintenance fee is quite steep, if the right users use it, then it is not just worth it, it could be a steal deal for you.
Written by Adithya Menon
