SBI Elite Card is an amazing premium card that runs in the market. You can use this card at movies, restaurants, hotels, lounges, for bookings of flights, etc. Also, they have an exclusive reward program which will help you earn points and save in the near future.
Highlights of SBI Elite Card
1. Milestone bonus
You can earn an exciting number of bonus reward points up to 50,000 which are worth almost Rs. 12,500/- year and along with that 10,000 bonus reward points if you achieve the annual spending limit of Rs. 3 to 4 lakhs.
2. A welcome gift
When you get the card, you also earn a gift voucher of about Rs. 5000/- from a wide range of lifestyle and travel brands which include Hush Puppies, Pantaloons, Marks & Spencer, Yatra, Shoppers Stop, and many more.
3. Sliver membership at Club Vistara
The customers who use the SBI Elite Card can also enjoy a complimentary silver membership of Club Vistara and along with it can avail 1 upgrade voucher and 1 complimentary lounge access. For every Rs. 100 that a customer spends on Vistara Flights, can earn up to 9 Club Vistara Points.
4. ELITE Rewards
You get five times the reward points when you spend on grocery, dining, and/ or departmental stores. A customer also gets 2 reward points for every hundred on other expenses except that of fuel.
5. Concierge Services
You can also use this card to get assistance in customized holiday packages, hotel reservations, gift delivery, and also movie tickets.
6. Free Movie Tickets
SBI Elite Card customers get a grand amount of Rs. 6000/- every year so as to enjoy free movie tickets. This transaction is valid for a minimum of at least 2 tickets every month.
7. Airport Lounge Access
The customer can avail around 6 complimentary visits at international airport lounges every year, i.e. outside India, and 2 airport lounges access every quarter in India.
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SBI Elite Card Benefits
1. Accepted globally
This card is accepted globally and has almost 24 million outlets all across the globe. Around 3,25,000 outlets are spread across the country itself.
2. Enabled with a chip
The credit card comes with a chip and is one hundred percent safe and secure against skimming. It is also pin enabled.
3. Fuel surcharge waiver
It offers 1 % of fuel surcharge waiver if you use it at petrol pumps for fuel transactions.
4. It is easy money
A cheque or demand draft can be mad against the cash limit of the card.
5. Facility of Flexipay
All your transactions which are above 2500 INR can be converted into EMIs using this facility.
6. Facility of balance transfer
If you have outstanding balance from other cards, then you can transfer it to this card and enjoy the benefit at lower interest rates.
7. Emergency replacement of card
You can get your card replaced in emergency situations at any outlet in the world by calling a helping number which is available 24 by 7.
Eligibility criteria for SBI Elite Card
- The candidate must be a salaried employees in the age of 21 years to 70 years
- The candidate if is self-employed, then the range is 25 years to 70 years
- Only Indian citizens can apply
- Only people with active credit history can apply for this card
Documents required to apply for SBI Elite Card
1. Proof of Identity
PAN Card, Voter’s ID card, Person of Indian Origin Card, Passport, Driver’s License, Job Card issued by NREGA, Aadhaar Card, Overseas Citizen of India Card, Letters issued by the UIDAI
2. Proof of Income
The most recent salary slips of last two months. It cannot be three months old, bank statement of last three months, and latest form 16.
3. Proof of Address
PAN Card, Voter’s ID card, Person of Indian Origin Card, Passport, Driver’s License, Job Card issued by NREGA, Aadhaar Card, Overseas Citizen of India Card, Letters issued by the UIDAI, Utility bill of the last three months and not older, Property registration document, bank account statement, ration card
Annual Fees and Charges of SBI Elite Card
|Annual Fee||Rs. 4,999 (One-Time)|
|Renewal Fee||Rs. 4,999|
|Add-on Fee (per annum)||Nil|
|Extended Credit Interest Free Credit Period||20-50 days, applicable only on retail purchases and if previous month’s outstanding balance is paid in full|
|Extended Credit Charges||Up to 3.35% per month, accounting to 40.2% per annum, from the date of transaction|
|Extended Credit Minimum Amount Due||5% of Total Outstanding (Min. Rs. 200 + all applicable taxes + EMI ( In case of EMI based product) + OVL amount (if any)|
|Cash Advance limit||Up to 80% of the credit limit, maximum Rs. 15,000 per day|
|Free Credit Period||Nil|
|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 withdrawal or Rs. 300 per transaction, whichever is higher|
|Cash Advance fee International ATMs||3% of withdrawal or Rs. 300 per transaction, whichever is higher|
|Over limit Charges||2.5% of the over limit amount subject to a minimum of Rs. 500|
|Late Payment Fee||• Nil for the total amount due from Rs. 0 to Rs. 200.|
• Rs. 100 for the total amount due greater than Rs. 200 and up to Rs. 500.
• Rs. 400 for the total amount due greater than Rs. 500 and up to Rs. 1,000.
• Rs. 600 for the total amount due greater than Rs. 1,000 and up to Rs. 10,000.
• Rs. 800 for the total amount due greater than 10,000 and up to Rs. 25,000.
• Rs. 950 for the total amount due greater than Rs. 25,000.
SBI Elite Credit Card Limit
The credit card limit of SBI ELITE is given at the discretion of the bank. A lot of factors are involved including the credit history of the applicant, credit score, credit report, and more. Ongoing debts or loans are also a major factor in this case.