PhonePe SBI Card SELECT BLACK Credit Card Benefits, Eligibility, Fees & Offers January 2026

Quick Overview

💳

Network

RuPay

💰

Joining Fee

₹1,499

⏱️

Processing Time

7-10 working days

📈

Min Income

₹4,00,000 annually

🎁

Reward Type

Reward Points

💱

Conversion Rate

1 Point = ₹1

Pros & Cons

✅ Pros

✓ Up to 10% rewards for PhonePe and PINCODE app spends
✓ 5% reward on extensive online spends (Amazon, Swiggy, Zomato, etc.)
✓ 4 complimentary domestic airport lounge visits per year
✓ 2-year complimentary Priority Pass membership
✓ 1% fuel surcharge waiver
✓ Welcome bonus offsets joining fee
✓ Generous rewards cap

❌ Cons

✗ High annual/joining fee (₹1,499 + GST)
✗ No international lounge access (only Priority Pass membership)
✗ Reward caps on categories
✗ Limited to select Indian cities for application

About This Card

The PhonePe SBI Card SELECT BLACK is a premium co-branded credit card offered in partnership with SBI and PhonePe, targeted at digital-savvy users who spend heavily through PhonePe and online platforms.

This credit card is good if you want to get it for Recharge & bill Payments. You always get 10% cashback on all recharge and bill payments. For Travel purposes we recommend Federal Scapia Credit card which is currently the best credit card for travelers.

Fee Structure

Fee Type	Amount/Condition
Joining Fee	₹1,499 + GST (₹1,500 PhonePe voucher offsets the fee fully)
Annual Fee	₹1,499 + GST (waived on ₹3,00,000 annual spend)
Welcome Benefit	₹1,500 PhonePe voucher after first bill payment

Rewards

Spend Category	Reward Rate	Monthly Cap	Value per Point
PhonePe & PINCODE app (recharge, bills, etc.)	10% (10 RP/100)	2,000 RP	₹1
Online Shopping Platforms	5% (5 RP/100)	2,000 RP	₹1
Other Card Spends (offline, UPI, etc.)	1% (1 RP/100)	2,000 RP	₹1

Reward points can be redeemed as a statement credit or for vouchers.

Also Read: Free Apple Smartwatch with Federal Scapia Credit card

Additional Benefits

Airport Lounge: 4 complimentary domestic lounge access per year (1 per quarter), 2-year Priority Pass membership (no complimentary international access).
Milestone Reward: ₹5,000 Yatra travel voucher on annual spends of ₹5 lakh.
1% Fuel Surcharge Waiver: For transactions ₹500–₹4,000, max ₹250 per statement cycle.
Cash Advance: 2.5% or ₹500 (whichever is higher).
Annual Fee Reversal: On achieving ₹3 lakh spend in the previous year.

Eligibility Criteria

Attribute	Requirement
Age	18 to 65 years
Minimum Income	₹4,00,000 per annum (reported as ₹6,00,000 by some dealers; typical SBI range is ₹4–6 lakhs)
Cities	Major Indian cities (per SBI policy)
Processing	7–10 working days after approval

Required Documents

PAN Card
Aadhaar Card
Proof of Address (utility bill/ration card, etc.)
Income Proof (salary slip, bank statement, or ITR)

Pros and Cons

Pros	Cons
High rewards on PhonePe and extensive online spends	High joining/annual fee for some users
Complimentary domestic lounge access and Priority Pass	International lounge entry is not complimentary
5,000 ₹ Yatra voucher milestone on high annual spend	Rewards capped by category per month
Fuel surcharge waiver	Limited rewards on non-online/non-PhonePe spends

Card Visuals

The card is black in design with “PhonePe SBI Card SELECT BLACK” branding, chip, and RuPay/VISA logo.
Card images can typically be found on the SBI Card website, the PhonePe app, and their official announcements.

Best Suited For

Heavy PhonePe users, online shoppers, and frequent domestic travelers who value premium rewards and comfort.

Conclusion

Overall, the PhonePe SBI Card SELECT BLACK is a compelling choice for anyone who is a regular PhonePe user or loves online shopping. It brings top-category rewards, easy redemption, and useful perks like lounge access and fuel surcharge waivers. However, the high annual fee and reward caps may not suit light, infrequent spenders.

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Reward Program

Reward Points Rewards

Conversion Rate: 1 Point = ₹1

Value: 1:1 (Full Value)

Default Reward Rate

Up to 10% value back on PhonePe spends; 5% online, 1% other in Reward Points

Welcome Bonus

₹1,500 PhonePe Gift Card on payment of joining fee (offsets fee fully)

Fees & Charges

Joining Fee

₹1,499

Annual Fee

₹1,499

Frequently Asked Questions

What is the welcome bonus for this card? +

Get a ₹1,500 PhonePe gift voucher on joining after first bill payment, fully offsetting the joining fee.

What is the reward rate and capping? +

10% on PhonePe spends (up to 2,000 points/month), 5% on online brands (up to 2,000 points/month), 1% elsewhere. 1 reward point = ₹1.

Can reward points be redeemed for statement credit? +

Yes, points can be redeemed as statement credit or for vouchers, at 1 point = ₹1.

What are the milestone rewards? +

Get a ₹5,000 Yatra travel voucher on spending ₹5,00,000 in a year.

Are there foreign transaction fees? +

Yes, 3.5% markup on international transactions.

What is the annual fee for PhonePe SBI Card SELECT BLACK Credit Card? +

The annual fee for PhonePe SBI Card SELECT BLACK Credit Card is ₹1,499 with a joining fee of ₹1,499. Some cards may waive the annual fee based on spending criteria or for the first year.

What welcome bonus do I get with PhonePe SBI Card SELECT BLACK Credit Card? +

New PhonePe SBI Card SELECT BLACK Credit Card cardholders can earn ₹1,500 PhonePe Gift Card on payment of joining fee (offsets fee fully). This welcome offer is typically available for a limited time and subject to meeting minimum spending requirements.

How does the Reward Points system work with PhonePe SBI Card SELECT BLACK Credit Card? +

PhonePe SBI Card SELECT BLACK Credit Card offers Reward Points as rewards. The conversion rate is 1 Point = ₹1. You can earn Up to 10% value back on PhonePe spends; 5% online, 1% other on various categories.

What are the eligibility criteria for PhonePe SBI Card SELECT BLACK Credit Card? +

To be eligible for PhonePe SBI Card SELECT BLACK Credit Card, you need a minimum income of ₹4,00,000 annually. Additional criteria may include age requirements, credit score, and employment status. Contact for complete eligibility details.

How long does it take to get PhonePe SBI Card SELECT BLACK Credit Card approved? +

The typical processing time for PhonePe SBI Card SELECT BLACK Credit Card is 7-10 working days. Processing times may vary based on document verification and credit assessment. You may receive instant approval for pre-approved applications.

How can I apply for PhonePe SBI Card SELECT BLACK Credit Card? +

You can apply for PhonePe SBI Card SELECT BLACK Credit Card online through our secure application process. The application is quick and convenient, requiring basic personal and financial information.