Super-Premium Fintech Rewards on PhonePe and Dining
Heavy PhonePe users, utility bill payers, and urban spenders seeking accelerated reward velocity on digital transactions.
₹1,499
One-time upfront₹1,499
Waived on ₹2 lakh annual spend1 Reward Point per Rs. 100 spent on other eligible retail transactions
On eligible spends2 Domestic visits/quarter
Complimentary visitsLast verified 2 Oct 2026
Objective editorial assessment, ideal spender profile, and primary trade-offs
The PhonePe SBI Card Select Black represents the top tier of SBI Card's strategic partnership with India's largest UPI fintech, PhonePe. With an annual fee of ₹1,499 plus GST, the card immediately neutralizes its acquisition cost by providing a ₹1,500 PhonePe gift card upon joining fee payment and card activation. The card's economic engine is finely tuned for digital household spending: cardholders earn 10 Reward Points per ₹100 spent on the PhonePe mobile application (covering utility bills, mobile recharges, insurance premiums, and merchant transactions via PhonePe Switch), 5 Reward Points per ₹100 on dining and grocery shopping, and 2 Reward Points per ₹100 on general retail purchases. Since 1 RP equals ₹0.25, this provides an effective 2.5% return on PhonePe spends and 1.25% on dining/groceries. Beyond fintech rewards, it functions as a competent lifestyle card with 4 complimentary domestic airport lounge visits per year (1 per quarter). However, accelerated points on PhonePe app spends are subject to a monthly ceiling (typically 1,500 points per cycle), preventing excessive exploitation on massive commercial bill runs. Standard exclusions also apply to fuel, rent, and government levies. With an achievable ₹2,00,000 annual spend waiver threshold, this card is exceptionally compelling for households that channel electricity, broadband, gas, and grocery payments through the PhonePe ecosystem.
Earn 10 Reward Points per Rs. 100 spent on recharges, utilities, bill payments, and travel via PhonePe app.
Cardholders receive 4 complimentary domestic airport lounge visits per calendar year, capped at 1 visit per quarter under SBI Set A.
Complimentary Priority Pass membership for 2 years. Standard per-visit lounge usage fees apply.
Receive a PhonePe e-Gift Voucher worth Rs. 1,500 upon payment of the annual membership fee and card activation.
1% fuel surcharge waiver for transactions between Rs. 500 and Rs. 4,000, capped at Rs. 250 per statement cycle.
Base earning rates, partner merchant acceleration, redemption options, and exclusions
| Spend Category | Earn Rate | Reward Cap | Conditions |
|---|---|---|---|
| PhonePe App Spends & Travel | 5% cashback on PhonePe app merchant payments | No Cap | Standard terms apply |
| Other Spends & UPI | 1% cashback on general retail transactions | No Cap | Standard terms apply |
Calculate estimated net cashback and points across your actual spending pattern.
Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.
Customize monthly spend in each category. Category amounts sum directly to your monthly spend.
| Category / Reward Bucket | Monthly Spend | Rate | Effective Rate | Cap Period | Eligible Reward | Cap Status |
|---|---|---|---|---|---|---|
| PhonePe App Spends & Travel | ₹12,000 | 5% cashback on PhonePe app merchant payments | — | None | Calculating... | Under cap |
| Other Spends & UPI | ₹18,000 | 1% cashback on general retail transactions | — | None | Calculating... | Under cap |
| Total Monthly Cashback | ₹30,000 | - | — | - | ₹0 / mo | Zero cap loss |
₹3.6 lakh
12 billing cycles₹0
0% blended return-₹1,499
Standard renewal+₹0 / yr
Rewards - FeeBonus vouchers and annual fee waiver milestones unlocked as your total spend increases
Renewal fee of Rs. 1,499 reversed on achieving annual retail spends of Rs. 3,00,000 in previous membership year.
Receive a travel voucher worth Rs. 5,000 on reaching annual retail spends of Rs. 5,00,000.
*Milestone spend calculation is tracked across eligible retail purchases within each specified billing or calendar period. Excludes cash advances, wallet loads, and EMI conversions.
Domestic and international lounge privileges, spend hurdles, and participating terminals
Verify this card against live departure gates and specific terminal lounges across India.
This card includes complimentary admission across verified Indian airport terminals. Check individual terminal lounges and spend criteria before you travel.
Complete breakdown of joining, renewal, forex, financing APR, and transaction charges
• Joining Fee: ₹1,499 + GST; Annual Renewal Fee: ₹1,499 + GST. • Fee Waiver: Spend ₹2,00,000 or more in the preceding 12 months to waive the ₹1,499 annual renewal fee. • Welcome Benefit: ₹1,500 PhonePe e-voucher upon card activation and fee payment within 30 days. • Rewards Structure: 10 Reward Points per ₹100 on PhonePe app transactions; 5 RP per ₹100 on dining and groceries; 2 RP per ₹100 on other retail. • Point Valuation: 1 Reward Point = ₹0.25 for PhonePe wallet/voucher redemption; valid for 24 months. • Airport Lounges: 4 complimentary domestic airport lounge visits per calendar year (1 per calendar quarter). • Exclusions: Fuel purchases, rent transactions, wallet loads, educational fees, and government payments do not earn reward points.
Evaluate whether this card's perks and waiver threshold justify its ₹1,499 renewal fee.
Income criteria, minimum age, CIBIL score benchmark, and verification checklist
Common questions regarding PhonePe SBI Card Select Black application, fees, reward redemption, and eligibility
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Direct online application on the official SBI Card portal with paperless verification.
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