Point value
Not published by issuer — varies by redemption
SBI RUPAY
PhonePe SBI SELECT BLACK
Should you get this?
Conditional fit
Why this card
- You can comfortably spend ₹3,00,000 a year on the card.
- 1 per quarter domestic lounge.
Trade-off
The annual fee (₹1,499) is waived only after ₹3,00,000 of eligible annual spend.
Annual fee ₹1,499 per year
Rewards 1 pt / ₹100
Lounge access 1 per quarter
Forex markup 3.5% high
Compare with Axis Bank IndiGo →
Similar tier comparison
Rewards
Earning rules
Detail · from the summary aboveScopeRateEligibilityLimit
General spend1 pt / ₹100additional conditions apply — not fully modelledDoes not earn on —
- education
- insurance off platform
- jewellery
- toll
- upi off platform
- utility off platform
PhonePe (domestic)10 pts / ₹100app only · additional conditions apply — not fully modelled1,500 points per month; at 10 pts / ₹100, this lane reaches the cap at ₹15,000 of eligible spend
Online shopping5 pts / ₹100online only · additional conditions apply — not fully modelled1,000 points per month; at 5 pts / ₹100, this lane reaches the cap at ₹20,000 of eligible spend
Annual fee break-even math
When does this card pay for itself ₹3L yearly spend to waive the annual fee
Annual fee is ₹1,499. The issuer doesn't publish a documented cash value for its reward points, so a reliable rewards break-even estimate can't be shown.
Reward reality — the earning-rate detail behind the numbers above
Reward reality
Conclusion · what you actually getCaps
- PhonePe (domestic)1,500 points per month
Why?
at 10 pts / ₹100, this lane reaches the cap at ₹15,000 of eligible spend
- Online shopping1,000 points per month
Why?
at 5 pts / ₹100, this lane reaches the cap at ₹20,000 of eligible spend
No reward on
- Education
- Insurance premiums
- Utility spends outside the eligible platform / app
- Toll
- bridge excluded from earn (SBI SELECT BLACK revision effecti…
- +3 more
Costs & fees
Spending requirements
Spend gates · caps · milestone thresholdsRequirementAmountPeriodUnlocksRealismStrength
Annual fee waiver₹3,00,000yearAnnual fee waiverhighstrong
Watch outs
Before choosing this card- Forex markup is 3.5%, so frequent international spends may be costly.
Estimated usage
Example usage at this monthly spend
₹
- At this monthly spend, you'd earn: Based on the standard earn rate (1 pt / ₹100). ~500 pts/month. Category and partner bonuses aren't included in this estimate.
- 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 factsBenefits
Lounge Access
- Domestic (cardholder)
- 1 per quarter — via RuPay lounge programme · verified 6 Jul 2026
5 sources agree · verify issuer terms before applying
Where to verify
- CardInsider
- BankBazaar
- Issuer site (verify current terms) , opens external site
- Operator-verified anchor
- International (cardholder)
- Not included
5 sources agree · verify issuer terms before applying
Where to verify
- CardInsider
- BankBazaar
- Issuer site (verify current terms) , opens external site
- Operator-verified anchor
Rewards
- Base earn
- 1 points per ₹100 value depends on redemption
Fees & charges
Fees
- Monthly interest rate
- 3.75% / month
- Annual fee
- ₹1,499
- Joining fee
- ₹499 · verified 4 Jul 2026
- Fee waiver spend
- ₹3,00,000 Above catalog median waiver (₹2,00,000 vs ₹3,00,000).
- Interest-free period
- Up to 50 days · verified 7 Jul 2026
International Use
- Forex markup
- 3.5%
3 sources agree · verify issuer terms before applying
Where to verify
- Issuer SBI Phonepe Select Black Forex Snippet
- CardInsider
- Shared Sbicard Com
- Issuer site (verify current terms) , opens external site
- Product tier
- Mid-tier
Travel & perks
Fuel Benefits
At the pumpNo verified fuel benefit available.
Fine print & compare
Compare with similar cards
Similar tier · similar benefitsThe fine print
Caps · exclusions · earning · redemption · last refreshCaps & limits
- Monthly cap:1,500 reward points per month; at 10 reward points / ₹100, this lane reaches the cap at ₹15,000 of eligible spend.
- Monthly cap:1,000 reward points per month; at 5 reward points / ₹100, this lane reaches the cap at ₹20,000 of eligible spend.
Exclusions: 7
These spends do not earn reward points.
Payments
- Education
Financial
- Insurance premiums
Utilities
- Utility spends outside the eligible platform / app
Other
- Toll and bridge excluded from earn (SBI SELECT BLACK revision effecti…
- Gifts and souvenir purchases excluded from earn (SELECT BLACK, from 1…
- Jewellery purchases excluded from earn
- UPI made outside the PhonePe app excluded from earn (from 1-Jul-2026)
Redemption & expiry
Expiry:24 months
- Travel redemption: ₹99 redemption fee per redemption
Latest update
- Annual fee: ₹1,499.
- Forex markup currently listed at 3.5%.
- 1 per quarter domestic lounge.
Common questions
From verified card factsIs this good for lounge access?
1 per quarter domestic lounge. Check current spend criteria, guest rules, visit caps, and airport acceptance before relying on it.
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 ₹3,00,000 annual spend. Verify eligible spend exclusions before counting on it.
When do welcome benefits arrive?
A welcome benefit worth ₹1,500 is listed, but timing may depend on joining fee payment, card activation, first eligible transaction, or issuer processing.
Is this the PhonePe SBI Select Black card or SBI Elite?
This page covers the PhonePe SBI Select Black card, the RuPay co-brand from SBI Card and PhonePe — not the SBI Elite or other SBI premium cards sometimes called "Black" in search.
Learn more
Guides matched to this card — not a random syllabus.
- How reward rate works
Pts / ₹100 without the marketing fog - Billing cycle
Statement date vs due date, clearly - How interest works
The real cost of paying the minimum