SBI Card
PhonePe SBI PURPLE Credit Card
Annual Fee
₹235₹199 + GSTBase Reward
1% points
Foreign Markup
3.5%
Welcome Benefits
PhonePe Gift Voucher Worth ₹500
Product Highlights
- Affordable joining and renewal fee
- Decent rewards for everyday utility payments
Category Rewards
Specialty
2% Cashback on UPI spends
2%
Fee Waiver
Renewal Fee Reversed on Spends of ₹1 Lakh
Merchant-Specific Rewards
PhonePe
3% Cashback on PhonePe transactions
Reward Calculator
Earns ₹2,765/year (net)
Modest gain. Solid hold if you like the perks.
₹16K
across all your buckets
₹3K
direct cashback
₹3K
via direct credit
Effective rate
1.56%
Annual fee
₹235
Year 1 net
+₹2,765
Year 2+ net
+₹2,765
ongoing
Adjust your spend by reward bucket
3 bucketsReal Reward Ceiling
Headline %s are gated by caps. Here's how far each accelerator stretches before it falls back to the base rate.
2% Cashback on UPI spends
Headline: 2.00% effective
Surcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Foreign exchange markup
3.5%Charged on every international (non-INR) transaction
Excluded from rewards
fuel, balance transfer, cash advance, emi, insurance, jewelry, education, railways, wallet
Fuel surcharge waiver (good news)
1%on ₹500–₹3,000 fuel txns · capped at ₹100/cycle
Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
3 Reward Points/₹100 Spent on PhonePe, 2 Reward Points/₹100 Spent Online, and 1 Reward Point/₹100 on Other Valid Spends.
Redemption
1 Reward Point = ₹1 and Can be Redeemed as Statement Credit or as Gift Vouchers
Benefits & Features
1% Waiver on Fuel Transactions Between ₹500 and ₹4,000
Pros & Cons
Pros
- Decent returns at a low price
- Easily used for UPI payments
Cons
- Reward rate could be higher
- Reward Point validity is only 12 months
Additional Info
Reward Points valid for 1 year
Maximum of 1,000 Reward Points per month for each category
Maximum of 1,000 Reward Points per month for each category.
Excluded Categories
Partner Merchants
Ready to apply?
Apply directly on the bank's official website. Quick approval, no hidden steps.
Apply NowOfficial bank website · Secure
Fees & Charges
Eligibility
Networks
Fee Waiver
Renewal Fee Reversed on Spends of ₹1 Lakh