PhonePe SBI Card SELECT BLACK on Insurance premiums
Yes. The PhonePe SBI Card SELECT BLACK gives 10% back when you pay on Insurance premiums directly, compared with 1% on its other spends.
On Insurance premiums
10%
Other spends
1%
Rank for Insurance premiums
#1 of 149
Annual fee
₹1,499 + Taxes
What to know before you pay on Insurance premiums
Cap on Insurance premiums
Max ₹500 a month (500 points on insurance)
How it works
10% on bills, recharges and utilities paid in the PhonePe app, 5% on online merchants and 1% elsewhere, with points worth ₹1. All rewards stop at about 1,500 points a month since July 2026. Electricity and insurance 10% only when paid in the PhonePe app.
Caps & rules
- Up to 10% reward points on PhonePe and Pincode app spends, up to 5% on other online merchants, 1% on other eligible spends.
- 1 point = ₹1.
- From 1 Jul 2026 monthly caps were cut (reported as 1,500 points a month, 500 on insurance) and tolls, jewellery, education and non-PhonePe utilities were excluded.
- ₹1,499 fee waived at ₹3 Lakh.
Reward limits
- All reward points: max 1,500 points per month (from 1 Jul 2026)
No rewards on
Fuel, rent, wallet loads; from 1 Jul 2026 tolls, jewellery, education and utilities paid outside PhonePe
Checked 2026-10-11 · Bank terms
Other good cards for Insurance premiums
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3.33%
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#3
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#4
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ICICI Bank · ₹12,499 + Taxes
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Where else the PhonePe SBI Card SELECT BLACK earns more
Questions
Does the PhonePe SBI Card SELECT BLACK give rewards on Insurance premiums?
Yes. The PhonePe SBI Card SELECT BLACK gives 10% back when you pay on Insurance premiums directly, compared with 1% on its other spends.
Is there a limit on PhonePe SBI Card SELECT BLACK rewards?
Up to 10% reward points on PhonePe and Pincode app spends, up to 5% on other online merchants, 1% on other eligible spends. 1 point = ₹1. From 1 Jul 2026 monthly caps were cut (reported as 1,500 points a month, 500 on insurance) and tolls, jewellery, education and non-PhonePe utilities were excluded. ₹1,499 fee waived at ₹3 Lakh.
Which credit card is best for Insurance premiums?
PhonePe SBI Card SELECT BLACK ranks #1 of 149 cards we compared for Insurance premiums, by what it returns on regular spending there after caps.