SBI

PhonePe SBI PURPLE Credit Card

Good fit when rewards, fees, and forex fit your spend pattern — ₹499 annual fee.

Top reasons to choose this card

₹1L fee waiver

What you'd do with it

Works when a ₹499 annual fee is acceptable for the accelerated earn rates.

Supports UPI Supports UPI via RuPay network.

Suggested comparison Similar tier comparison Compare with Axis Bank ACE →

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Annual fee ₹499 per year

Forex markup 3.5% high

Lounge access 0 no lounge

Rewards / ₹100 3 pts up to · ₹100 on PhonePe

The catch Forex markup is 3.5%, so this can get expensive for frequent international spends.

Welcome benefit timing may vary
Fee waiver available
Annual fee known
Forex markup known
No lounge access

At a glance

Snapshot · usage · fit

Fast facts

Annual fee: ₹499 lower than 74 of 112 cards
Joining fee: ₹499
Forex markup: 3.5% the standard rate (matches 66 cards)
Lounge access: No complimentary lounge access
Reward rate: Up to 3 pts / ₹100 on PhonePe

Good fit for

Supports UPI

Not a fit for

No domestic lounge access

Still worth it?

Evidence-backed snapshot

Good fit if

Annual fee is relatively low at ₹499.
Fee waiver applies at ₹1,00,000 annual spend.

Verify before applying

Annual fee known
Fee waiver available
Forex markup known
No lounge access
₹500 welcome benefit listed
Welcome benefit timing may vary
Monthly interest known

Welcome benefit timing and claim process.
Annual fee waiver terms and eligible spend exclusions.
Issuer fees, GST, finance charges, and late-payment terms.
Reward terms to verify: base earn is 1 points per ₹100. These spends do not earn reward points: Education, Insurance premiums, Utility spends outside the eligible platform / app, and Toll and bridge excluded from earn (SBI revision effective 1-Jul-2026), and 2 more. Still verify remaining caps, redemption rules, and point value.

Next best move

Open the ranking that matches your constraint, or compare this card with the closest alternative.

Compare with Axis Bank ACE Similar tier comparison Best SBI credit cards See how this card compares within SBI. Forex ranking (verified) Compared on verified forex markup, then annual fee. Cards under ₹1,000 annual fee Lower-fee options in the current snapshot.

Is this good for lounge access?

No lounge access.

Is this good for international spends?

Forex markup is 3.5%, so frequent international spends may be costly.

Is the annual fee easy to recover?

Fee waiver applies at ₹1,00,000 annual spend. Verify eligible spend exclusions before counting on it.

When do welcome benefits arrive?

Issuer lists a welcome benefit ₹500 PhonePe e-gift voucher on joining. Included items: PhonePe. Timing may depend on joining fee payment, card activation, first eligible transaction, or issuer processing.

Fees confidence: High Forex confidence: High Rewards confidence: Unknown Lounge confidence: High Waiver confidence: High

Card facts refreshed 11 July 2026.

Spending requirements

Spend gates · caps · milestone thresholds

Annual fee waiver₹1,00,000yearAnnual fee waiverreasonablestrong

Watch outs

Before choosing this card

Forex markup is 3.5%, so frequent international spends may be costly.
Reward value is not fully resolved in the current snapshot.

Reward reality

Point value · limits · exclusions

Point valueNot published by issuer — varies by redemption

Base earn1 points per ₹100

Best verified lanePhonePe (app only)3 pts / ₹100

Exclusions/no-earnThese spends do not earn reward points: Education, Insurance premiums, Utility spends outside the eligible platform / app, and Toll and bridge excluded from earn (SBI revision effective 1-Jul-2026), and 2 more.

Reward rules

Structured earn rates · eligibility · caps when they bind

PhonePe (app only)3 pts / ₹100app only · Up to 3% value back as reward points on PhonePe app and Pincode spend… · Earn on spends on the PhonePe app and Pincode as stated in the PhonePe × SBI …—

Online shopping2 pts / ₹100online only · Up to 2% value back on all other online transactions. From 1-Jul-2026…—

General spend1 pt / ₹100Base tier: up to 1% value back as reward points on all other eligible…—

Estimated usage

Example usage at this monthly spend

₹

At this monthly spend, you'd earn: Estimated using base earn (1 pt / ₹100). ~500 pts/month. Partner/category bonuses not included.
Fee waiver achievable at this spend
Forex cost ~₹1,750 per ₹50k international spend

Illustrative only, using current base rates and snapshot data.

Benefits & charges

Side-by-side facts

Benefits

Lounge Access

Domestic (cardholder): No complimentary lounge access
International (cardholder): Not included

Rewards

Base earn: 1 pt / ₹100 value depends on redemption

Fees & charges

Fees

Monthly interest rate: 3.75% / month
Annual fee: ₹499
Joining fee: ₹499 · verified 4 Jul 2026
Fee waiver spend: ₹1,00,000 Below catalog median waiver (₹2,00,000 vs ₹1,00,000).
Interest-free period: Up to 50 days · verified 7 Jul 2026