PhonePe SBI Card SELECT BLACK

SBI Card · Open to apply

The premium PhonePe co-brand card paying Reward Points worth ₹1 each: 10 points per ₹100 on recharges, bills, insurance and travel paid in the PhonePe app (up to 1,500 points a month), 5 per ₹100 online (1,000) and 1 per ₹100 elsewhere (2,000), with a ₹1,500 PhonePe gift voucher on joining, four domestic lounge visits a year and a ₹5,000 Yatra voucher at ₹5 lakh of annual spends. Fee ₹1,499, waived at ₹3 lakh.

Annual fee
₹1,499 + GST a year
Joining fee
₹1,499 + GST
Fee waiver
Annual fee waived on ₹3,00,000 spend per card year
Base rate
1 point per ₹100 on other spends (up to 2,000 points a month): 1 SBI Card Reward Points per ₹100 (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

  • 10 points per ₹100 on recharges, utilities, bill payments and travel in the PhonePe app (up to 1,500 points a month): 10 SBI Card Reward Points per ₹100 (about 10% at cash value)
  • 10 points per ₹100 on insurance paid in the PhonePe app (up to 500 points a month): 10 SBI Card Reward Points per ₹100 (about 10% at cash value)
  • 5 points per ₹100 on eligible online spends (up to 1,000 points a month): 5 SBI Card Reward Points per ₹100 (about 5% at cash value)

Earns nothing on

  • No Reward Points on Scan & Pay or online UPI outside the PhonePe app (from 1 Jul 2026)
  • No Reward Points on utilities, telecom and insurance paid outside the PhonePe app (from 1 Jul 2026)
  • No Reward Points at petrol pumps and service stations (MCCs 5172, 5541, 5542, 5983)
  • No Reward Points on wallet loads (MCCs 6540, 6541)
  • No Reward Points on rent or government spends (MCCs 6513, 9311, 9399)
  • No Reward Points on school and educational services (MCCs 8211, 8220, 8241, 8244, 8249, 8299)
  • No Reward Points on digital gaming platforms (MCCs 5816, 7993, 7994)
  • No Reward Points on tolls and bridges (MCC 4784) or jewellery (MCCs 5094, 5944)
  • No Reward Points on cash withdrawals and Encash
  • No Reward Points on Flexipay or Merchant EMI

Where the sources disagree

  • Joining fee in the welcome benefit clause: Clause 10.3 of the booklet says the welcome gift follows payment of "Annual Membership Fee of Rs. 499 + taxes", while the card's fee is ₹1,499 (product page, KFS) and the separate welcome-benefit T&C says "Rs. 1499". We use ₹1,499; the ₹499 looks copied from the PURPLE booklet.

Terms the calculator does not value

  • Priority Pass: the product page gives a two-year membership; the booklet charges USD 27 per visit "after complimentary visit" and states no number of complimentary visits, so none is entered.
  • "Gifts and Souvenirs" (MCC 5947) earn no points from 1 Jul 2026; no calculator category isolates that MCC.
  • Accelerated points on PhonePe categories follow PhonePe's merchant, terminal and VPA IDs, and online eligibility depends on the acquirer's online flag; a transaction SBI Card does not identify earns the lower rate.
  • The T&C does not say what spend above a monthly cap earns. It says the cap "can't be exceeded under any circumstances", so nothing further is assumed to earn.

Sources

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