PhonePe SBI SELECT BLACK Credit Card
SBI Card
Annual Fee
₹1,499
Joining Fee
₹1,499 + GST
Base Reward
1% points
Foreign Markup
3.5%
Fee Waiver
Annual charges are reversed on spends of ₹3 Lakh
Interest Rate
3.75% Per Month (45% Annually)
Welcome Benefits
PhonePe Gift Voucher Worth ₹1,500
Product Highlights
- Co-branded offering with PhonePe
- High reward rate on PhonePe spends
Rewards
10 Reward Points/₹100 on eligible PhonePe spends (Recharges, Utilities, Bill Payments, Insurance, and Travel Only), 5 Reward Points/₹100 on eligible online spends, 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
Category Rewards
| Category | Reward Rate | Monthly Cap |
|---|---|---|
utilities | 10%(10 Reward Points/₹100 on PhonePe spends) | No cap |
shopping | 5%(5 Reward Points/₹100 on online spends) | No cap |
other | 1%(1 Reward Point/₹100 on other valid spends) | No cap |
Merchant-Specific Rewards
| Merchant | Reward | Context |
|---|---|---|
| PhonePe | 10 Reward Points/₹100(Capped at 2,000 Reward Points per month) | online |
| Online spends | 5 Reward Points/₹100(Capped at 2,000 Reward Points per month) | online |
| Other valid spends | 1 Reward Point/₹100(Capped at 2,000 Reward Points per month) | all |
Benefits & Features
Domestic: 4 Free Domestic Lounge Visits Each Year (One free domestic airport lounge access per quarter) Complimentary Priority Pass membership for the first two years of card membership.
Fees & Charges
Eligibility
Available Networks
Pros & Cons
Pros
- Annual fee waiver at a spend of ₹3 lakh
- Useful for everyday bills and insurance payments
Cons
- No international airport lounge access
- No renewal fee benefits
Additional Info
Card offers high rewards on PhonePe transactions
Maximum savings of up to ₹24,000 per year on eligible spends
Maximum of 2,000 Reward Points per month for each category.
Excluded Categories