State Bank of India(SBI) has been one of the most trusted banks for Indians. It is easily accessible, offering wide range of account options, low annual costs and satisfying returns. The only disadvantage customers have been complaining about is the customer service apart from which the bank is considered the most ideal bank.
One of the major changes in the second quarter of 2016 was its change from SBI signature card to SBI elite card. There is a joining fee of INR 4999 and annual fee of INR 5000. Two striking alterations newly introduced were:
- Firstly, you need to spend more for the reward points as compared to before.
- Secondly, the annual fee waiver on spends above 10 lakh.
Who should use this card?
- Annual spends more than 3 Lakhs.
- People who spend a bomb for watching movies in theaters.
- People who use the lounge access frequently.
So, let’s tell you the benefits for SBI elite credit card.
There is a joining fee of INR 4999 post which you will receive a welcome kit which includes: e- Gift Voucher worth INR 5,000 from any of the following brands- Yatra, Hush Puppies / Bata, Marks & Spencer, Westside, Shoppers Stop.
The gifts do not stop with the welcome kit itself. Other vouchers include free movie tickets worth INR 6000 every year.
You can earn up to 50,000 Bonus reward points worth INR 12,500 every year. On annual spend of 3-4 Lakhs, there is guaranteed 10,000 reward points. Also, if your annual spends is 5-8 Lakhs, you will surely get 15,000 reward points.
Complimentary lounge access
Your tiring wait for your flight can become your enjoyable and soothing experience. With SBI Elite Card there is complimentary domestic lounge access twice every quarter at airport lounges in India. With a priority pass worth of $99, you get access over 850 airport lounges worldwide.
There is also 2.5% Fuel Surcharge Waiver across all petrol pumps (Govt. Service Tax extra as applicable). There is a maximum Surcharge Waiver of INR 250 per month per credit account. Furthermore, you also earn 5 times reward points on departmental stores, dining, international spends, and grocery stores. You can also get attractive golf discounts.
There is also a new feature added to the SBI card called contactless advantage where you can simply wave your card over the secure reader and transaction will be completed.
What are the annual charges?
- Annual Fee (one-time) :Rs. 4,999
- Renewal Fee (per annum): Rs. 4,999 from second year onwards
- Add-on Fee (per annum): Nil
Askmequeries rating for SBI Elite Credit card: 3.5/5
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