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Miles Elite SBI Card credit card artwork

SBI Card • Visa

Miles Elite SBI Card

★ New Card

CardIntel Score: 56/100

Verified on official issuer terms

Joining Fee

₹499 + GST

Annual Fee

₹499 + GST

Spend Waiver

Waived at ₹1L/yr

Lounge Access

4 complimentary domestic a...

Forex Markup

1.99% + GST

Best Suited For

Everyday Rewards & Lifestyle

Rewards Rate

1-2% return on retail spends

Welcome Benefits

Welcome gift vouchers or bonus reward points equivalent to joining fee realization.

Apply Now

CardIntel Score

Objective card quality

CardIntel Score v1.1 measures structural card quality against a fixed ₹6 lakh annual benchmark. It evaluates 9 factors including Net Ownership ROI, without affiliate commission, editorial preference, or card slug heuristics.

56.3/100

Limited

Rounded: 56/100

Reward Return0.7% Return

3.3/25

0.67% effective benchmark return

Net Ownership ROI₹0 Cost (Fee Waived)

13/15

Zero ownership cost with solid net return

Reward Cap HeadroomUncapped

12/12

No monthly or category ceilings

Redemption LiquidityRewards Catalogue

7/10

Rewards Catalogue

Lounge Utility4 Dom/yr, 0 Intl/yr

5/10

Domestic (3/5) + Intl (0/3) + Terms (2/2)

Forex Markup3.50% Forex

1/8

3.5% forex markup

Accessibility & EligibilityOpen Retail

8/8

Open retail availability

Benefit Breadth0 / 5 Pillars

0/5

0 benefit pillars qualified

Condition SimplicityFriction-Free

7/7

Zero material reward conditions (7/7 pts)

Why this score?

• Uncapped: 12/12

• Open Retail: 8/8

• Friction-Free: 7/7

Key drag: 0 / 5 Pillars: 0/5

Solid net ownership ROI, unrestricted reward cap headroom and broad consumer accessibility. The score is reduced by the lounge access terms, forex markup and restricted redemption options.

Version: v1.1Benchmark: ₹50,000/monthAnnual benchmark: ₹6,00,000Confidence: HIGH

Break-Even Recovery Spend: ₹51,500 / yearWaiver Met on ₹6L Benchmark

You need to spend at least ₹51,500 per year (₹4,292/mo) on this card to fully recover its annual fee.

Reconciliation Note: While ₹51,500/yr retail spend recovers the listed ₹499 annual fee via baseline rewards if the waiver is not met, our ₹6,00,000 universal benchmark spend exceeds the bank's waiver threshold, reducing the effective annual fee payable to ₹0.

4-Layer Financial Intelligence

Card Economics & Net ROI

Evaluating real economic return after accounting for benchmark spending (₹6,00,000/yr), effective annual fee, and verified category caps.

1. CardIntel Score

56.3/100

Limited Quality

2. Card Net ROI

N/A — ₹0 ownership cost

₹0 Effective Fee (Waived)

3. Estimated Net Value

₹8,000

Per year on ₹6L spend

4. Effective Cost

₹0

Annual fee waived on ₹6L spend

Estimated Gross Annual Rewards₹4,000

Monetizable Perks (Lounge & Fuel)+₹4,000

Effective Annual Cost₹0 (No annual fee)

Recurring Net Annual Value (Year 2+)₹8,000/year

CardIntel strictly separates first-year introductory welcome perks from ongoing recurring ROI. Lifetime Free cards show ₹0 ownership cost rather than infinite percentages.

🎁

Rewards and Benefits

Verified privileges, dining perks, reward redemption values, and airport lounge schedules.

Category	Details & Conditions
🍽️Movie & Dining	Discounts and partner offers on leading dining apps and movie booking platforms.
⚡Rewards Rate	1-2% return on retail spends
💰Reward Redemption	Redeemable for vouchers, merchandise, and air miles via bank rewards portal
✈️Travel	N/A
🛋️Domestic Lounge Access	4 complimentary domestic airport lounge visits per year
🌐International Lounge Access	N/A
⛳Golf	N/A
🛡️Insurance Benefits	Complimentary lost card liability and fraud protection

💳

Fees & Charges

Transparent schedule of annual charges, spend-based reversals, finance APR, and cash advance rates.

Spend-Based Waiver

Annual Charges Waived on Spends of ₹1,00,000 or More

Spend target in anniversary year to reverse renewal fee.

Interest Rates / Finance Charges

3.75% Per Month (45.00% Annually)

Standard finance charge applicable on revolving retail balances and ATM cash advances until complete settlement.

Late Payment Charges

Nil (Up to ₹100), ₹100 (₹101–₹500), ₹500 (₹501–₹1,000), ₹750 (₹1,001–₹10,000), ₹950 (₹10,001–₹25,000), ₹1,100 (₹25,001–₹50,000), ₹1,300 (Above ₹50,000)

Tiered late payment charge based on total amount due. Additional ₹100 charged if Minimum Amount Due (MAD) is unpaid for 2 or more consecutive billing cycles.

Foreign Currency Markup

1.99% + GST

Privileged reduced forex markup rate on international POS and cross-border online merchants.

Dynamic Currency Conversion (DCC)

1.00% + GST Markup Fee

Applicable on transactions conducted in Indian Rupees (INR) at overseas merchants or international payment gateways.

Rewards Redemption Fee

₹99 + GST per redemption request

Applicable on gift voucher, merchandise, or statement redemptions through the SBI Card app or portal.

Fuel Surcharge Waiver

1% Fuel surcharge waiver on transactions between ₹500 and ₹4,000 (Max ₹100–₹250/cycle)

Surcharge waiver excludes GST. Valid across all petrol pumps in India.

Cash Advance Charges

2.5% of transaction amount or ₹500 (whichever is higher)

Domestic & International ATMs. Finance charge of 3.75% / 1.99% p.m. applies from the date of withdrawal until full payment.

Overlimit Charges

2.5% of Overlimit Amount (Min ₹600)

Applicable if retail or merchant transactions exceed the sanctioned credit limit (subject to cardholder overlimit consent).

Rental Transaction Surcharge

₹99 + GST per rental transaction

Processing fee charged on all house, commercial, and flat rent payment transactions.

Utility Payments Surcharge

1% + GST on payments >₹50,000 per billing cycle

Applicable on cumulative utility bill payments (electricity, gas, water) exceeding ₹50,000 in a single billing cycle.

Third-Party Education Fee Surcharge

1% + GST on payments via third-party apps

Applicable on school/college fee payments made via third-party apps (CRED, Cheq, Paytm, etc.). Nil fee on direct school/college website or POS transactions.

Payment Dishonour / Bounce Charges

2% of payment amount (Min ₹500, Max ₹1,200)

Charged if cheque, NACH, ECS, or auto-debit instruction towards credit card payment is dishonoured or bounced.

Card Replacement Fee

₹100 to ₹250 + GST

Standard physical card re-issuance fee for damaged, lost, or compromised cards.

Cash Payment at SBI Branch

₹250 + GST per transaction

Service fee levied for paying credit card bill over the counter via physical cash at State Bank of India branches.

Product Details

✓

Welcome benefit points or vouchers upon paying the initial card fee.

✓

Accelerated reward points on preferred categories and merchant partners.

✓

1% base reward rate on other retail purchases.

✓

Fuel surcharge waiver across fuel stations in India.

✓

Annual renewal fee reversal on achieving annual spend threshold.

Pros & Cons

Pros

+Competitive return rate on primary spend categories

+Fee waiver milestone easily achievable on regular annual spends

+Accepted universally across merchant POS terminals and online portals

Cons

−Standard cross-currency forex markup fee on overseas transactions

−Accelerated rewards subject to monthly category ceilings

−Government tax, rent, and utility payments may earn reduced returns

Miles Elite SBI Card Features and Benefits

Comprehensive overview of welcome benefits, quarterly spend bonuses, dining privileges, and renewal fee waiver milestones.

Welcome Gift

Welcome & Activation Benefit

Cardholders receive bonus welcome points or partner discount vouchers upon card setup and fee realization.

Reward Boost

Accelerated Rewards Framework

Earn high multiplier reward returns on target spending categories such as dining, e-commerce, and travel.

Fuel Savings

Fuel Surcharge Waiver

1% fuel surcharge reversed on eligible transactions between ₹400 and ₹4,000 at all fuel pumps across India.

Fee Reversal

Milestone Spend Reversals

Annual Charges Waived on Spends of ₹1,00,000 or More

⚡

SBI Card Miles Elite Rewards Structure

Transactions made using this card earn reward points redeemable via the bank rewards portal.

10 Partner Merchants (Accelerated Rate):

Preferred E-Commerce & Retail

Accelerated Multiplier

Dining & Food Delivery

Enhanced Rate

Travel & Hotels

Partner Bonus

General Online & Offline Purchases

1% Base Return

•1% return on general eligible retail transactions.

•Accelerated rewards subject to program terms and monthly limits.

Value of CashPoints / Points on Redemption

Comparative monetary conversion rates across cashback, flight tickets, product catalog, and airline miles.

Redemption Option	Monetary Value (per Point)	Notes
Statement Credit / Cash Voucher	₹0.20 to ₹0.25	Direct balance adjustment or popular shopping vouchers
Travel Bookings & AirMiles	₹0.25 to ₹0.50	Flight tickets and hotel reservations via bank portal

•Reward points are valid for 2 to 3 years from the date of accumulation.

•Redemptions can be processed through the official bank internet banking or mobile app.

Exclusions on Rewards Points / Cashback

In compliance with regulatory terms, the following spending categories are not eligible to earn CashPoints or reward points:

✕Fuel Purchases (Covered under 1% surcharge waiver, excluding GST)

✕Rent Payments via Third-Party Portals (₹99 + GST processing fee)

✕Utility Payments Exceeding ₹50,000/cycle (1% + GST fee applies)

✕Education Payments via 3rd-Party Apps like CRED/Cheq/Paytm (1% + GST fee)

✕Wallet Loading Transactions & Pre-paid Card Reloads

✕ATM Cash Advances, Late Payment Fees & Finance Charges

Who Should Choose SBI Card Miles Elite?

Ideal for users seeking dependable returns on daily lifestyle, online shopping, and dining expenses with reliable bank support.

✓ Everyday Spenders✓ Online Shoppers✓ Urban Professionals✓ Value Seekers

Eligibility Criteria for Miles Elite SBI Card

The following table illustrates the income-based and age-based underwriting criteria:

Criteria	Salaried Employees	Self-Employed Individuals
Age	21 – 60 Years	21 – 65 Years
Income Proof	Minimum ₹25,000 Per Month	Minimum ₹3,60,000 Per Annum
Credit Score (CIBIL)	720+ recommended

Compare SBI Card Miles Elite With Competing Cards

Side-by-side comparison of rewards, merchant partner rates, monthly caps, and annual fees.

Feature / Card	SBI Card Miles Elite Current Card	HDFC Millennia Credit Card	Cashback SBI Card
Reward Structure	Reward Points	Cashback (CashPoints)	Direct Statement Cashback
Reward Rate at Partner Merchants	Accelerated returns on target categories; 1% base	5% on 10 partner merchants (Amazon, Flipkart, Swiggy, etc.)	5% universal cashback on all online shopping
Cap on Rewards	Standard monthly ceiling on accelerated points	1,000 CashPoints on 5% tier per cycle	₹5,000 max cashback per billing cycle
Additional Benefits	4 domestic lounge visits/yr	₹200 Swiggy Dineout discount twice monthly	Auto-credited to monthly bill with zero redemption fee
Annual Fee & Waiver	₹499 + GST	₹1,000 (Waived on ₹1 Lakh spend)	₹999 (Waived on ₹2 Lakh spend)

Latest News & Program Updates

Verified policy adjustments, convenience surcharges, and MITC revisions implemented by the issuer:

March 2025Verified Regulatory Notice

RBI MITC & Third-Party Payment Updates

Rental transactions processed via payment aggregators are subject to a 1% convenience charge in compliance with updated bank schedules.

SBI Card Miles Elite Editorial Verdict

SBI Card Miles Elite by SBI Card is engineered for consumers looking for solid rewards on day-to-day transactions with clear fee recovery milestones.

By maintaining regular monthly spending and paying bills in full before the due date, cardholders can maximize net value while building a robust credit profile.

Financial Punctuality Advisory:

Ensure timely full payments every month to avoid finance charges of up to 45% APR.