PhonePe SBI Card SELECT BLACK
Fees
₹1,499 + Taxes
Joining & annual
Reward Rate
10% Reward Points on select PhonePe spends (recharges, bills, insurance, travel); insurance capped 500 RP/month, recharges/utilities/bills/travel capped 1,500 RP/month (both reduced from 2,000 RP/month effective Jul 2026); 5% on other online spends, capped 1,000 RP/month (halved from 2,000); 1% base rate on offline spends
Welcome Bonus
₹1,500 PhonePe gift voucher on joining fee payment
Lounge
4 Domestic/yr (1/Qtr, No Spend Condition)
Our Expert Take
The PhonePe SBI Card SELECT BLACK from SBI Card offers Premium Digital & Lounge Access Spenders with an annual fee of ₹2,999 + Taxes.
Reward limits
Checked 11 Oct 2026 · Bank terms
-
All reward points
Max 1,500 points per month (from 1 Jul 2026)
Where this card earns most
Paying directly in the app or site · 1% on other spends
Pros & Cons
Key Advantages
- ₹1,500 PhonePe gift voucher on joining fee payment, more than offsetting the fee
- 4 domestic lounge visits/year with no minimum spend condition
- Complimentary Priority Pass membership for the first 2 years
- Fee waiver threshold (Annual fee waived on ₹3 Lakh annual retail spends)
Limitations
- No complimentary international lounge visits despite the Priority Pass membership
- Reward point caps were cut significantly in July 2026 — insurance capped 500 RP/month, PhonePe bill/travel spends capped 1,500 RP/month, other online spends capped 1,000 RP/month
- Renewal fee waiver needs ₹3 Lakh in annual spends
Key Perks & Spending Milestones
Accelerated earn rate on cashback purchases
1% fuel surcharge waiver on transactions between ₹400 and ₹4,000
Up to 50 days of interest-free credit period
Zero lost card liability protection
Spend milestone
Annual fee waived on ₹3 Lakh annual retail spends
Fees & Charges
Joining fee
₹1,499 + Taxes
Annual fee
₹1,499 + Taxes
Annual fee waived on ₹3 Lakh annual retail spends
Interest rate
Up to 3.75% per month (45% per annum)
Late payment fee
Nil up to ₹100; ₹100 for ₹101-₹500; ₹500 for ₹501-₹1,000; ₹750 for ₹1,001-₹10,000; ₹950 for ₹10,001-₹25,000; ₹1,100 for ₹25,001-₹50,000; ₹1,300 above ₹50,000
Insurance & Protection Benefits
air accident cover
Up to ₹50 Lakh
lost card liability
Up to ₹1 Lakh
purchase protection
Nil
emergency medical cover
Nil
Eligibility Criteria
salaried minimum income
₹25,000 per month
self employed ITR
₹6 Lakh per annum
age
21 to 65 years
Credit score & income
Good (730+)
Frequently Asked Questions
Did PhonePe SBI Card SELECT BLACK's reward caps change?
How many lounge visits does SELECT BLACK offer?
Is SELECT BLACK exempt from SBI's ₹60,000-point redemption cap?
Compare PhonePe SBI Card SELECT BLACK With Similar Cards
| Card | Annual Fee | Reward Rate | Lounge Access | Rating |
|---|---|---|---|---|
| PhonePe SBI Card SELECT BLACK This Card | ₹1,499 + Taxes | 10% Reward Points on select PhonePe spends (recharges, bills,... | 4 Domestic/yr (1/Qtr, No Spend Condition) | 4.5/5 |
| Cashback SBI Credit Card | ₹999 + Taxes | 5% cashback on online spends, capped ₹2,000/statement cycle; 1%... | No Lounge Access | 4.7/5 |
| KIWI UPI RuPay Credit Card | Free | Up to 5% cashback on UPI spends via Kiwi Neon program (1.5% base... | Domestic (Neon Spend Milestones) | 4.7/5 |
| Axis Bank ACE Credit Card | ₹499 + Taxes | 5% cashback on Google Pay utilities; 4% on Swiggy, Zomato & Ola;... | 4 Domestic/yr | 4.6/5 |