There are two lifestyle Credit cards offered by the State Bank of India, and they are SBI Elite and SBI Prime Card. Although there are things common to both the cards, there are major differences between both the cards. Let us now see the comparison between both the cards.
Fees and Charges
|
Fee Type |
||
|
Joining or renewal fee |
Rs. 2,999 |
Rs. 4,999 |
|
Welcome benefit |
Gift voucher worth Rs. 3000 |
Gift voucher worth Rs. 5000 |
|
Renewal Fee Waiver |
On spends of Rs. 3 Lakhs in a membership year |
On spends of Rs. 10 Lakhs in a membership year |
|
Foreign currency markup charges |
3.5% |
1.99% |
|
Interest Free Credit |
20 to 50 days |
20 to 50 days |
|
ATM Cash Withdrawals Charges |
2.5% with a minimum of Rs. 500 |
2.5% with a minimum of Rs. 500 |
|
Overlimit charges |
2.5% with a minimum of Rs. 500 |
2.5% with a minimum of Rs. 500 |
SBI ELITE has a 66% higher fee than SBI Prime. Even the renewal fee waiver is set at Rs 10 Lakhs which is a feat to achieve.
The options for gift vouchers for the welcome perks are Bata/Hush Puppies, Pantaloons, Aditya Birla Fashion, Shoppers Stop, and Yatra.com in case of both the cards.
Rewards
With SBI Prime, you can get extra rewards on birthday spends. The value as per the maximum cap is Rs. 500. But, this is valid only once a year.
|
Category of Spends |
SBI PRIME |
SBI ELITE |
|
Birthday spends |
20 reward points per Rs. 100 with a cap of 2000 reward points yearly |
No extra benefits and equivalent to normal reward rate |
|
Dining, departmental stories, movies, and groceries |
10 reward points per Rs. 100 |
10 reward points per Rs. 100 |
|
Other spends |
2 reward points per Rs. 100 |
2 reward points per Rs. 100 |
Milestone Rewards
SBI ELITE has better milestone rewards for people who spend high. But, it also has a greater annual fee. The SBI Elite card gives bonus reward points of 50,000. upon achieving annual spends of Rs. 8 Lakhs. With each reward point equal to 25 paise, you will gain a total amount of Rs. 12,500. The extra returns on spending with this milestone benefit is 1.5%.
|
SBI PRIME Milestone Benefits |
|
A Pizza Hut Gift Voucher of Rs. 1000 on spends of Rs. 50000 in a calendar quarter |
|
A Yatra or Pantaloons Gift voucher of Rs. 7000 on spends of Rs. 5 Lakhs in a membership year. |
|
SBI Elite Milestone Benefits |
|
10,000 bonus reward points for yearly spends of Rs. 3 Lakhs and Rs. 4 Lakhs in a membership year |
|
15,000 bonus reward points for annual spends of Rs. 5 Lakhs and Rs. 8 Lakhs in a membership year |
Lounge Access
|
SBI Prime |
SBI Elite |
|
Avail access to 4 complimentary visits for the international airport lounges under the priority pass program. There will be a maximum of 2 visits per quarter.
|
Enjoy 6 free international airport lounge access annually under the priority pass membership. Over 1000 lounges all over the world through the SBI credit card.
|
|
Enjoy free access to 8 free domestic airport lounges with a maximum of 2 visits quarterly |
Avail 2 free visits to the domestic airport lounge per calendar quarter. |
Lifestyle and Entertainment
For SBI Elite Credit Card
- Get free movie tickets of up to Rs. 6000 in a year
- Enjoy Trident Privilege Red Tier Membership as a complimentary
- Enjoy a complimentary Club Vistara Membership
For SBI Prime Card
- Enjoy a complimentary Club Vistara Silver Membership
- Enjoy Trident Privilege Red Tier membership
- Enjoy exclusive 1000 points on registration
Eligibility Criteria For Both The Credit Cards
|
Criteria |
SBI Elite Credit Card |
SBI Prime Credit Card |
|
Minimum age of the applicant |
21 years |
21 years |
|
Maximum age of the applicant |
70 years |
70 years |
|
Minimum Salary |
Individual must have a stable income |
Individual must have a stable income |
|
Credit Score of the Applicant |
750 and above |
750 and above |
|
Citizenship status of the applicant |
Must be a citizen of India |
Must be a citizen of India |
Documents Required
SBI ELITE Card
- Identity Proof: Driving License, PAN, Aadhaar Card, etc.
- Income Proof: Latest salary slips, Form 16, copy of IT returns, etc.
- Filled Application Form
- A copy of Form 60, PAN card copy
- Proof of residence: Passport, Ration card, Aadhaar, electricity bill, etc.
- Passport size colored photographs of the applicant.
SBI Prime Card
- Filled credit card application form
- A copy of Form 60, PAN card copy
- Identity Proof: PAN, Aadhaar card, driving license, etc.
- Income Proof: Form 16, Latest payslips, IT return copy, etc.
- Residence proof - Ration card, electricity bill, passport, aadhaar, etc.
- Passport size color photographs of the applicant.
Conclusion
Based on the comparison between the two cards, you can choose the best one according to your financial standing and requirements. First, you must analyze the need for taking a credit card. Then, you must compare your requirements with these two SBI cards. Once you have chosen the card, apply for the Sbi Credit card on CreditMantri.
FAQS SBI Elite Card Vs SBI Prime Card
1:How to get SBI Elite Credit Card Lifetime Free?
The yearly membership fee for SBI ELITE credit card is Rs. 4,999. On spending Rs. 10 Lakhs or more with the card for a year, the annual fee is waived off.
2:Can I cancel my SBI Prime Credit Card?
You can close your credit card account by writing to SBI or calling the SBI Card Helpline. You can raise a request for the closure of your account. After you place the request, cut your credit card diagonally and dump it. Your request will lead to the termination of the add-on cards automatically.
3:Which are some of the SBI cards that are eligible for Airport Lounge Access?
SBI Platinum Corporate Card, Tata Corporate Card, and SBI Signature Corporate Card come with free airport lounge access. Get access to awesome airport lounges across India with these cards and enjoy complimentary delicious meals, free wi-fi connectivity and luxurious seats while waiting to board the flight.