Cards / SBI Card

Joining fee

₹1,499

Annual fee

₹1,499

Waiver spend

₹3,00,000

Forex markup

3.5%

Fee waiver

Spend ₹3,00,000 in a card year and the next annual fee is waived.

That is about ₹25,000 a month.

Work out what you still need to spend

Recent changes

• 1 July 2026Worse for you

  Online reward cap halves from 2,000 to 1,000 points a month, PhonePe spends are split into 500 points for insurance and 1,500 for others, and tolls, jewellery, education and non-PhonePe utilities, insurance and UPI stop earning.

  Source

• 1 May 2026Worse for you

  Late payment charge becomes Rs 100 for dues of Rs 100 to 500 and Rs 500 for dues of Rs 500 to 1,000.

  Source

All card changes in 2026

Work it out for this card

How the app counts rewards

• 10 points per ₹100 on PhonePe recharges, bills, insurance and travel (up to 1,500 points a month, insurance up to 500)
• No points on utilities and insurance paid outside the PhonePe app
• 5 points per ₹100 on online spends (up to 1,000 points a month)
• 1 point per ₹100 on other spends (up to 2,000 points a month)

No rewards on education, fuel, rent, wallet loads.

Airport lounges

• Domestic: 4 visits a year

Max 1 a quarter; Priority Pass membership free for first 2 years

Points

Reward Points, worth about ₹1 each on the usual redemption. Expire after 2 years.

Checked against the bank's terms. Banks change terms often, so check the latest terms before applying.

Taken from the bank's page. Rules data version 2026.10.04.

More from SBI Card