PhonePe SBI Card SELECT BLACK
SBI Card · Visa · Mid card
If PhonePe is your default payment app, the accelerated PhonePe rate compounds fast across recharges, bill pay and in-app shopping.
Heavy PhonePe users who also want lounge access and a mid-tier fee.
Terms checked 13 Sept 2026
- Annual fee
- ₹1,499 + GST
- Joining fee
- ₹1,499 + GST
- Base reward rate
- 1%
- Forex markup
- 3.5%
Reward rates by spending category
Published catalogue rates before caps and merchant-category exclusions.
| Category | Recorded rate |
|---|---|
| Online shopping | 1% |
| Dining & delivery | 1% |
| Groceries & essentials | 1% |
| Travel & hotels | 1% |
| Subscriptions & streaming | 1% |
| Beauty & wellness | 1% |
| Entertainment & movies | 1% |
| Offline store shopping | 1% |
| International spending | 1% |
| Healthcare & pharmacy | 1% |
| Other miscellaneous | 1% |
| Bills & utilities | 0% |
| Fuel & commute | 0% |
| House rent | 0% |
| Insurance premiums | 0% |
| Education & family | 0% |
| Gold & jewellery | 0% |
Caps and fee waiver
- Reward caps
- No general cap recorded
- Annual fee waiver
- At ₹3,00,000 annual spending
- Monthly income requirement
- Not listed
Airport lounge access
4 domestic airport lounge visits per year
1 domestic airport lounge visit per quarter · Issuer card
Guest access: Not specified
Maximum four complimentary visits per calendar year; no spend condition is published.
Benefits & conditions
Expand a category to see recorded benefits, fees and eligibility, with conditions and links to the sources. Categories without recorded details are grouped below; missing information does not mean a benefit is unavailable.
Rewards and cashback · 8 items
Eligible PhonePe in-app rewards
Usage-based value10 points per ₹100 requires a settled eligible PhonePe in-app recharge, utility, bill-payment or travel transaction of at least ₹100.
Conditions: 10 points per ₹100 requires a settled eligible PhonePe in-app recharge, utility, bill-payment or travel transaction of at least ₹100.
Eligible PhonePe insurance rewards
Usage-based value10 points per ₹100 requires an eligible insurance payment inside PhonePe and has its own 500-point monthly cap.
Conditions: 10 points per ₹100 requires an eligible insurance payment inside PhonePe and has its own 500-point monthly cap.
Eligible online rewards
Usage-based value5 points per ₹100 requires an eligible online transaction identified by the card network; utility and insurance payments outside PhonePe are excluded.
Conditions: 5 points per ₹100 requires an eligible online transaction identified by the card network; utility and insurance payments outside PhonePe are excluded.
PhonePe Scan & Pay rewards
Usage-based valueEligible Scan & Pay through the PhonePe app earns 1% value back.
Conditions: Eligible Scan & Pay through the PhonePe app earns 1% value back.
UPI outside PhonePe
Usage-based valueScan & Pay or online UPI transactions outside PhonePe earn no points from 1 July 2026.
Conditions: Scan & Pay or online UPI transactions outside PhonePe earn no points from 1 July 2026.
Other eligible rewards
Usage-based value1 point per ₹100 applies to other eligible settled transactions of at least ₹100.
10 reward points per ₹100 on eligible PhonePe in-app spends, with separate insurance and non-insurance caps
Shown without a cash value5 reward points per ₹100 on eligible online spends and 1 point per ₹100 on other eligible spends
Shown without a cash value
Fees · 2 items
Annual card fee
Cost ₹1,499₹1,499 annual fee before applicable tax.
Joining fee
Cost ₹1,499₹1,499 one-time joining fee before applicable tax.
Fee waiver · 1 item
Annual fee waiver
Usage-based · up to ₹1,499Annual fee may be waived after ₹3,00,000 of eligible annual spending.
Conditions: Reach ₹3,00,000 eligible annual spending
Welcome benefits · 1 item
₹1,500 PhonePe welcome voucher
Recorded value ₹1,500PhonePe e-gift voucher after realization of the standard joining fee.
Conditions: Pay the standard ₹1,499 joining fee · Not available when the card is issued under a first-year-free offer
Spend milestones · 1 item
₹5,000 Yatra voucher at ₹5 lakh
Recorded value ₹5,000Single-use voucher for eligible Yatra flight, hotel or holiday booking.
Conditions: Reach ₹5,00,000 per card anniversary year
Airport lounge access · 2 items
Domestic lounge access
Usage-based value1 visit per quarter through Issuer card. Guest access: not specified. Maximum four complimentary visits per calendar year; no spend condition is published.
Complimentary two-year Priority Pass membership; every lounge visit is chargeable
Shown without a cash value
Fuel benefits · 1 item
1% fuel surcharge waiver on eligible ₹500-₹4,000 transactions, capped at ₹250 per statement cycle
Shown without a cash value
Memberships · 1 item
Complimentary two-year Priority Pass membership; every lounge visit is chargeable
Shown without a cash value
Foreign-currency charges · 1 item
Foreign-currency markup
Usage-based value3.5% foreign-currency markup before applicable tax.
Conditions: Applies to eligible foreign-currency transactions
Eligibility and availability · 1 item
Application eligibility
Shown without a cash valueApplication availability: open. No universal verified numeric income threshold is used as a hard filter. SBI Card does not publish one universal numeric income threshold on the reviewed product materials.
Other categories (8)
These categories have no detailed entries. We distinguish confirmed absences from information that still needs review.
Card tiers
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Movies and entertainment
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Travel privileges
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Dining
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Golf
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Insurance and protection
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Concierge
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗Other benefits
Not offeredThe reviewed issuer sources do not publish this benefit for the card.
Official source 1 ↗Official source 2 ↗
What stands out
- ✓ 10 reward points per ₹100 on eligible PhonePe in-app spends, with separate insurance and non-insurance caps
- ✓ 5 reward points per ₹100 on eligible online spends and 1 point per ₹100 on other eligible spends
- ✓ 1 reward point = ₹1 for statement credit or eligible gift vouchers
- ✓ ₹5,000 Yatra voucher at ₹5 lakh annual spend, plus four domestic lounge visits yearly
What to watch
PhonePe, online and other-spend rewards have separate monthly caps. From 1 July 2026, UPI transactions outside PhonePe earn no reward points, and Priority Pass visits are chargeable.
Recorded exclusions
Fuel Commute · Education Family · Gold Jewellery · Rent · Wallet load · Government payments · Gaming · Gift souvenir · Tolls bridges · Cash withdrawal · Emi · Fees charges
How GainFair evaluates this card
The personal card advisor applies your monthly spending to category rates, limits rewards at the applicable caps, adds eligible movie, milestone and lounge value, and subtracts annual fees plus foreign-currency markup and GST. It can recommend keeping your current cards when a new card does not create enough incremental value.
Compare against
These cards have the closest mix of purpose, reward style, fee model and tier. They are suggestions for comparison, not rankings.
Card change history
Material changes verified against dated issuer notices. Effective dates can differ from announcement dates.
- Mixed impact
Reward pools and UPI eligibility revised
SBI Card introduced four separate monthly reward pools and stopped rewards on UPI payments made outside PhonePe.
- Before
- The earlier programme did not use the current four-pool reward-cap structure.
- After
- PhonePe non-insurance, PhonePe insurance, online and other rewards have separate monthly caps; non-PhonePe UPI earns zero.
Checked 21 Sept 2026SBI Card PhonePe SELECT BLACK change notice ↗
Issuer sources
Open the sources used for this card's product details, rewards, fees and eligibility.
Sources checked 13 Sept 2026 · Latest recorded change effective 1 Jul 2026