Paytm SBI Card SELECT
SBI Card · Open to apply
The premium Paytm co-brand card: Reward Points worth ₹1 each, 5% on travel booked on the Paytm app, 2% on other Paytm app purchases and 1% everywhere else including UPI, on transactions of ₹100 or more. Fee ₹1,499, waived at ₹2 lakh, ₹750 of points on activation, four domestic lounge visits a year, a Priority Pass membership and vouchers at ₹4 and ₹6 lakh of annual spends.
- Annual fee
- ₹1,499 + GST a year
- Joining fee
- ₹1,499 + GST
- Fee waiver
- Annual fee waived on ₹2,00,000 spend per card year
- Base rate
- 1% on all other spends, including UPI: 1% in SBI Card Reward Points (about 1% at cash value)
- Lounges
- Domestic: 1 visit a calendar quarter
- Forex markup
- 3.5%
- Data
- From bank documents, checked 6 Nov 2026
Main earn rates
- 5% on travel bought on the Paytm app: 5% in SBI Card Reward Points (about 5% at cash value)
- 2% on other purchases on the Paytm app: 2% in SBI Card Reward Points (about 2% at cash value)
- 2% at Paytm: 2% in SBI Card Reward Points (about 2% at cash value)
Earns nothing on
- No Reward Points at petrol pumps and service stations (MCCs 5172, 5541, 5542, 5983)
- No Reward Points on wallet loads (Paytm or any other app; MCCs 6540, 6541)
- No Reward Points on rent or government-related payments (MCCs 6513, 9311, 9399)
- No Reward Points on school and education spends (from 9 Mar 2026)
- No Reward Points on cash advances, ATM withdrawals and balance transfers
- No Reward Points on Flexipay and Merchant EMI (from 20 Nov 2020)
Where the sources disagree
- Annual fee waiver: The product page and FAQ say the renewal fee is waived on previous-year spends of ₹2 lakh or more; the KFS (26 Aug 2026) lists the card at 1,499 / 1,499 with no waiver. The KFS is silent rather than contrary, so we use the product page.
- Paytm categories at 3%: The product page's rewards section lists "3% Cashback on Paytm Mall, Movies and Travel", while its privileges section and the T&C booklet give 3% on travel only and 2% on other Paytm app purchases. We use the booklet.
Terms the calculator does not value
- Accelerated categories on Paytm follow Paytm's merchant and terminal ID list on a best-effort basis; SBI Card may refuse to add IDs retrospectively.
- The Priority Pass membership gives no free visits, so it is a membership with no value in the calculator; the first-year Paytm First membership has no rupee value either.
- Value-back is earned on transactions of ₹100 or more; the calculator applies that at its typical payment sizes.
Sources
- Paytm SBI Card SELECT product-page data file (fees, rewards, milestone, insurance, fuel surcharge waiver) (Product page, the bank's own, read 6 Nov 2026)
- Paytm SBI Card SELECT Terms and Conditions booklet (PDF created 27 Jul 2026, modified 8 Oct 2026) (Reward terms, the bank's own, read 6 Nov 2026)
- SBI Card Key Fact Statement (file dated 26 Aug 2026) (Schedule of charges, the bank's own, read 6 Nov 2026)
- SBI Card Most Important Terms and Conditions, common MITC (index date 2026-09-14) (Most important terms (MITC), the bank's own, read 6 Nov 2026)
- SBI Card fraud insurance cover for Paytm SBI Card and Paytm SBI Card SELECT (PDF of 10 Jun 2026) (Reward terms, the bank's own, read 6 Nov 2026)
- Paytm First Membership Terms and Conditions (welcome offer, 2020) (Reward terms, the bank's own, read 6 Nov 2026)
- SBI Card Shop & Smile rewards programme T&C (redemption terms; PDF modified 23 Sep 2026) (Reward terms, the bank's own, read 6 Nov 2026)
- Paytm SBI Card SELECT milestone gift voucher terms (PDF of 2020) (Reward terms, the bank's own, read 6 Nov 2026)
- Paytm SBI Card SELECT domestic lounge and Priority Pass terms (Reward terms, the bank's own, read 6 Nov 2026)
- SBI Card Important Notices page (no notice for this card found) (Bank notice, the bank's own, read 6 Nov 2026)