SBI Card Miles Elite Review: 3% in Travel Credits and 1.99% Forex
SBI Card Miles Elite is a ₹4,999 (plus GST) travel card that earns 6 Travel Credits per ₹200 on airlines, hotels and other travel and 2 per ₹200 on most other spends. A credit is worth ₹1 when moved to airline or hotel partners but ₹0.50 on travel bookings, so travel returns 3% or 1.5%. It replaced the Etihad Guest Premier SBI cards from December 2025 and adds a 1.99% forex markup and 14 free lounge visits a year.
Key facts
- Joining fee
- ₹4,999 + GST
- Annual fee
- ₹4,999 + GST. Annual Fee reversal on spends of Rs. 15 lakhs in a membership year (MITC: Rs. 15 lakh or more in the preceding year)
- Base reward
- 2 Travel Credits for every Rs. 200 on all other spends (about 1% value)
- Best category
- Travel spends: airlines, hotels, travel agencies, car rental, rail, bus, tolls and similar: about 3% value
- Lounge
- Domestic: 8 complimentary domestic airport lounge visits a year (max 2 per quarter), plus 1 extra visit per Rs. 1 lakh spent (max 15 extra a membership year) International: 6 complimentary international airport lounge visits a year (max 2 per quarter) via Priority Pass; Priority Pass membership complimentary for the first 2 years
- Forex markup
- 1.99% of the amount
- Network
- Mastercard, RuPay
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
Worth it for travellers who move credits to 1:1 airline partners and spend abroad, and hard to justify if you would redeem for travel bookings at ₹0.50 a credit.
Best for
- Frequent flyers who collect miles with 1:1 partners such as Air India Flying Returns
- People who spend abroad and want a 1.99% forex markup
- Former Etihad Guest Premier SBI cardholders moved to this card
Skip it if
- Most of your card spend is utilities, rent, insurance or fuel, which earn nothing
- You would only redeem through the catalogue at ₹0.25 a credit
- You fly rarely and won't use the lounge visits
Highlights
- Joining and annual fee ₹4,999 plus GST; reversed at ₹15 lakh of yearly spend
- 6 Travel Credits per ₹200 on travel, 2 per ₹200 on other eligible spends
- 1 Travel Credit is ₹1 as air miles or hotel points and ₹0.50 on travel bookings
- 8 domestic and 6 international lounge visits a year, plus 1 extra domestic visit per ₹1 lakh spent
- 1.99% forex markup
SBI Card Miles Elite at a glance
Miles Elite is the top card in SBI Card's own Miles family, and it is built for people who think in air miles. Instead of Reward Points it earns Travel Credits, which you can move to 14 airline programmes (7 at 1:1 and 7 at 2:1) or spend on travel bookings and products. SBI Card started issuing it in December 2025 to replace Etihad Guest Premier SBI cards, which stopped working on activation of the new card or on 31 March 2026.
It comes on Mastercard and RuPay, and the RuPay card links to UPI. Our SBI Card hub lists the rest of the range.
What decides its value
- How you redeem. A credit is ₹1 as an air mile or hotel point, ₹0.50 on travel bookings and ₹0.25 in the Shop & Smile catalogue, so the same 6 credits per ₹200 is 3%, 1.5% or 0.75%.
- The partner ratio. Air India Flying Returns, British Airways Club and SpiceClub converts 1:1; Emirates Skywards and United MileagePlus need 2 credits for a mile.
- What counts as travel. Airlines, hotels, travel agencies, car rental, rail, bus and tolls, by merchant code. Utilities, insurance, rent, education and fuel earn nothing.
Changes in 2025 and 2026
The free ₹1 crore air accident cover was withdrawn from 15 July 2025, although the card page still list it; it is not part of the card today. The Etihad switch followed in December 2025. From 1 December 2026 SBI Card charges 1% on transport transactions above ₹30,000 and on a cycle's fuel spend above ₹50,000. Miles Elite is active and open to applicants.
Miles Elite fees and charges
₹4,999 a year and a high waiver bar
Miles Elite costs ₹4,999 to join and ₹4,999 a year, plus 18% GST of ₹899.82, so ₹5,898.82 each time. Add-on cards are nil. The renewal fee is reversed at ₹15 lakh of spend in a membership year, ₹1,25,000 a month (₹15,00,000 divided by 12). Few salaried household reach that, so plan on paying the fee and judge the card on whether credits and lounges beat ₹5,898.82.
In year one, 5,000 Travel Credits come for ₹1 lakh of spend within 60 days of issue: ₹5,000 at the transfer value, ₹2,500 on travel bookings.
Forex, the card's best cost feature
The markup is 1.99%, against 3.5% on most SBI cards, and it also covers rupee payments of ₹1,000 or more at overseas-registered merchants. On ₹50,000 spent abroad that is ₹995 instead of ₹1,750, ₹755 saved before GST.
Interest and penalties
Revolving costs 3.75% a month, 45% a year, and interest-free time of 20 to 50 days needs the previous bill cleared. Late fee start at ₹100 for dues above ₹100 and tops out at ₹1,300 above ₹50,000, with ₹100 more each cycle after two missed minimums, plus taxes. ATM withdrawals cost 2.5%, minimum ₹500, with interest from the same day. Over-limit use, only with your consent, is 2.5% of the excess, minimum ₹600.
Spend-type fees
Rent attracts ₹199 plus taxes a payment, utilities 1% of the whole once a cycle passes ₹50,000, and wallet loads above ₹1,000 and education payments through third-party apps 1%. The transport fee from 1 December 2026 bites harder here, because its codes 4111, 4784 and 4131 is also on the card's travel list, so one such transaction above ₹30,000 earns 6 credits per ₹200 and pays 1%. Priority Pass visits beyond the free ones cost up to USD 27 plus taxes.
The T&C FAQ gives a 1% fuel surcharge waiver on fills of ₹500 to ₹3,000, up to ₹500 a statement, though the card page show nothing about it.
Miles Elite: fees and charges
| Joining fee | ₹4,999 + GST |
|---|---|
| Annual or renewal fee | ₹4,999 + GST |
| Annual fee waiver | Annual Fee reversal on spends of Rs. 15 lakhs in a membership year (MITC: Rs. 15 lakh or more in the preceding year) |
| Add-on card fee | Nil |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | Annual Fee: Rs. 4,999 + taxes; Renewal Fee (per annum): Rs. 4,999 + taxes; Add-on Fee (per annum): NIL |
| Interest on unpaid balances | Up to 3.75% a month (45% a year) |
| Late payment fee | Nil up to Rs.100; Rs.100 (Rs.100-500); Rs.500 (Rs.500-1,000); Rs.750 (Rs.1,000-10,000); Rs.950 (Rs.10,000-25,000); Rs.1,100 (Rs.25,000-50,000); Rs.1,300 (above Rs.50,000) of outstanding amount due; plus Rs.100 additional if MAD is missed two consecutive cycles (continues each cycle until MAD is cleared). Taxes extra. |
| Cash withdrawal | 2.5% of transaction amount, minimum Rs.500, at domestic and international ATMs; finance charges from the date of withdrawal (no free credit period); max Rs.15,000 cash per day at ATMs (MCC 6011), within cash limit. |
| Over-limit fee | 2.5% of overlimit amount, minimum Rs.600, once per billing cycle; only if the cardholder has consented to over-limit use |
| Forex markup | 1.99% of the amount |
| Other fees |
|
Travel Credits, their worth and three travellers
Earning
Travel spends earn 6 Travel Credits per ₹200 and other eligible spends 2 per ₹200, with no cap stated on either. The exclusions cover fuel, wallet loads, rent, school and education payments, utilities, insurance, quasi-cash, cash, Flexipay, merchant EMI and fees, a list longer than most cards, and it removes a good chunk of household spending.
Redeeming
Transfers give the best value at SBI Card's ₹1 a credit. The 1:1 partners are Air India Flying Returns, Air Canada Aeroplan, AirAsia Rewards, British Airways Club, Cathay, SpiceClub and Thai Royal Orchid Plus; the 2:1 ones are Air Arabia, Emirates Skywards, Ethiopian ShebaMiles, JAL Mileage Bank, Saudia AlFursan, Turkish Miles&Smiles and United MileagePlus. Transfers take up to 21 days. The T&C names no hotel partners, so check before you count on a hotel points.
Travel bookings pay ₹0.50 a credit and the catalogue ₹0.25. Credits last 24 months from accrual, and physical redemptions carries ₹99 plus taxes.
Welcome and milestones
- 5,000 credits for ₹1 lakh of spend within 60 days, credited within 15 working days once the joining fee is paid.
- 20,000 bonus credits at ₹12 lakh of annual spend.
- 1 extra domestic lounge visit per ₹1 lakh spent, up to 15 extra in a membership year.
Three travellers, worked out
| Per month | Weekend traveller | Regular flyer | Global traveller |
|---|---|---|---|
| Travel | ₹8,000 | ₹25,000 | ₹50,000 |
| Dining, groceries, shopping | ₹28,000 | ₹47,000 | ₹60,000 |
| Spends abroad | Nil | Nil | ₹20,000 |
| Utilities and insurance | ₹4,000 | ₹8,000 | Nil |
| Credits a year | 6,240 | 14,640 | 47,600 |
| Value at ₹1 a credit | ₹6,240 | ₹14,640 | ₹47,600 |
| Value at ₹0.50 a credit | ₹3,120 | ₹7,320 | ₹23,800 |
| Renewal fee | ₹5,898.82 paid | ₹5,898.82 paid | Reversed |
Weekend traveller, ₹40,000 a month. Travel earns 240 credits (₹8,000 divided by 200, times 6) and ₹28,000 of dining, groceries and shopping 280, while ₹4,000 of bills earn nothing. 520 a month is 6,240 a year: ₹6,240 transferred, ₹341.18 over the fee (₹6,240 less ₹5,898.82), or ₹3,120 on bookings, which do not cover it.
Regular flyer, ₹80,000 a month. 750 travel credits plus 470 from ₹47,000 of other spends make 1,220 a month, 14,640 a year. Transferred, that is ₹8,741.18 above the fee (₹14,640 less ₹5,898.82); on bookings ₹7,320, still ₹1,421.18 ahead. Yearly spend of ₹9.6 lakh (₹80,000 times 12) also gives 9 extra lounge visits.
Global traveller, ₹1,30,000 a month. 1,500 travel credits and 800 from ₹80,000 of other spends abroad and at home make 2,300 a month, 27,600 a year, plus 20,000 at ₹12 lakh: 47,600 credits. ₹20,000 a month abroad costs ₹398 in markup (1.99%), ₹4,776 a year before GST, so net value come to ₹42,824 (₹47,600 less ₹4,776) at ₹1 a credit, and ₹15.6 lakh of yearly spend (₹1,30,000 times 12) reverses the fee.
Miles Elite: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| Travel spends: airlines, hotels, travel agencies, car rental, rail, bus, tolls and similar (MCC 4511, 3020, 3026, 3034, 3005, 3008, 3075, 3136, 3007, 3010, 3047, 4722, 4784, 4131, 4111, 4121, 7512, 4789, 4214, 7011, 3640, 3509, 3649, 3501) | 6 Travel Credits for every Rs. 200 spent on travel, about 3% value | No cap stated |
Miles Elite: how rewards work
| Earned as | Travel Credits |
|---|---|
| Base rate | 2 Travel Credits for every Rs. 200 on all other spends. About 1% value back |
| Minimum spend rules | Not published by the bank |
| No rewards on |
|
| Lower rewards on | None published |
| Value of a point |
|
| Redemption fee | Rs. 99 + taxes on physical products, statement credit and physically sent vouchers (MITC); transfers to partners processed within up to 21 days |
| Expiry | Travel Credits can be accumulated for 24 months from accrual |
| Welcome benefits |
|
| Milestone benefits |
|
| Lounge access | Domestic: 8 complimentary domestic airport lounge visits a year (max 2 per quarter), plus 1 extra visit per Rs. 1 lakh spent (max 15 extra a membership year) International: 6 complimentary international airport lounge visits a year (max 2 per quarter) via Priority Pass; Priority Pass membership complimentary for the first 2 years Condition: No spend condition for the base visits |
| Fuel surcharge waiver | T&C FAQ: 1% waiver on fuel transactions of Rs. 500 to Rs. 3,000, max Rs. 500 per billing statement (not shown on card page) |
| Insurance cover | Lost card liability Rs. 1 lakh; loss of check-in baggage Rs. 72,000; delay of check-in baggage Rs. 7,500; loss of travel documents Rs. 12,500; baggage damage Rs. 5,000; flight cancellation max 6 a year at Rs. 3,500 each (primary card only; ticket must be paid with the card). Complimentary air accident cover of Rs. 1 crore discontinued from 15 July 2025. |
Applying for SBI Card Miles Elite
Who qualifies on paper
There are no separate criteria; SBI Card's checklist apply. That means 21 or older for salaried people, above 25 for the self-employed applying online and above 40 for retired pensioners. The maximum age is muddled: the checklist says 60, the FAQ on the same page says 70, and SBI Card doesn't reconcile them.
SBI Card publishes no minimum income for this or any card. Its finder files Miles Elite under monthly income of "1 L to 2 L", a filter for browsing rather than a rule. It also looks for stable income, a good repayment record, a score preferably in the 750 to 900 band and a home in a city it covers. Banking with SBI not needed.
Documents
- PAN card for digital KYC.
- Aadhaar with the first 8 digits masked, or another government address proof.
- Salary slips or ITRs, if SBI Card asks.
How to apply
The button on this page opens SBI Card's online application; the ILA chatbot, the helpline 39 02 02 02 with your city code and any SBI branch also work. For UPI, ask for RuPay: merchant payments only, within ₹5 lakh a day and just ₹5,000 in the first 24 hours. Etihad Guest Premier SBI holders was issued Miles Elite in place of their old cards from December 2025. Service numbers are on our SBI Card customer care page.
What happens next
Under RBI's 2025 card Directions SBI Card must assess your own income and existing limits, show you a Key Fact Statement and give written reasons if it says no. It's the bank who decide whether you get the card and at what limit.
Miles Elite: eligibility and documents
| Age (salaried) | 21 years or above (minimum). Maximum age stated as 60 years in one place and 70 years in another on SBI Card's listing page |
|---|---|
| Age (self-employed) | Above 25 years (minimum, for online application) |
| Income (salaried) | Stable income; SBI Card says the specific minimum varies by card and does not publish it for this card |
| Income (self-employed) | Stable income; minimum not published for this card |
| Other conditions | Positive credit history preferred; good credit score, preferably between 750 and 900; SBI banking relationship not mandatory; residence must be in a location serviced by SBI Card; retired pensioners above 40 can apply online. SBI Card's card finder files this card under monthly income '1 L to 2 L' - a browsing filter, not a stated eligibility minimum. |
| Documents |
|
| How to apply | Online at sbicard.com (eApply; card pages carry an "Apply Now" link for cards sold online), through the chatbot ILA, by calling the SBI Card helpline 39 02 02 02 (prefix city STD code) or at the nearest SBI branch. Since 23 Sep 2026, SBI fixed-deposit holders can also apply for the secured "Advantage" variants (ELITE, PRIME, SimplyCLICK, SimplySAVE) on SBI's YONO app. Some co-brand cards (PhonePe, Google Pay Flex, Eternal) have no Apply button on sbicard.com. |
| Card customer care | 1860 180 1290 / 1860 500 1290 / 39 02 02 02 (prefix local STD code) / 1800 180 1290 (toll free); AURUM: 1860 500 2000 |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Who Miles Elite suits
The best user flies several times a year, moves credits to a 1:1 airline such as Air India Flying Returns or British Airways Club, and spends abroad. Our global traveller nets about ₹42,824 a year after markup with the fee reversed, and even the ₹80,000 a month flyer come out ahead.
It works against you if your spending is mostly household bills. Utilities, insurance, rent, school fees and fuel earn nothing here, so those belong on another card. Effort it also takes: choosing partners, watching 2:1 ratios and waiting up to 21 days for a transfer. Take travel bookings at ₹0.50 instead and the value halves, so the card clears its fee only around ₹80,000 a month (₹7,320 against ₹5,898.82).
Lounges are a real plus: 8 domestic and 6 international a year, extra domestic visits as you spend and Priority Pass free for the first 2 years. No air accident insurance anymore, remember that, whatever older pages say. Travel cover now is baggage, documents, up to 6 flight cancellations a year at ₹3,500 each on the primary card, and ₹1 lakh of lost card liability.
Our travel cards explainer covers how miles and partner ratios work.
Pros
- 6 Travel Credits per ₹200 on travel, worth 3% when moved to 1:1 airline partners
- 1.99% forex markup, against 3.5% on most SBI cards
- 8 domestic and 6 international lounge visits a year, plus up to 15 extra domestic visits
- 20,000 bonus Travel Credits at ₹12 lakh of yearly spend
- RuPay variant works on UPI for merchant payments
Cons
- Fee reversal needs ₹15 lakh of yearly spend
- Credits are worth only ₹0.50 on travel bookings and ₹0.25 in the catalogue
- No credits on utilities, insurance, rent, education or fuel
- Seven airline partners need 2 credits for every mile
- Air accident cover withdrawn from 15 July 2025
Miles Elite against other travel cards
Two miles cards from other banks and SBI Card's own ELITE are the natural alternatives at a similar fee.
HSBC TravelOne
The HSBC TravelOne also costs ₹4,999, but its fee, GST included, is reversed above ₹8 lakh a year, a much lower bar than ₹15 lakh. It earns 4 points per ₹100 on flights, travel aggregators and foreign currency spends, capped at 50,000 a month, and 2 per ₹100 elsewhere, moving 1:1 to Air India Maharaja Club, Flying Blue, British Airways and Etihad. That beats Miles Elite's 3 per ₹100 on travel, but forex is 3.5% against 1.99% here. It gives 6 domestic and 4 international lounge visits a year.
Axis Bank Horizon
The Axis Bank Horizon costs ₹3,000 and there is not any spend waiver also. It pays 5 EDGE Miles per ₹100 on Travel EDGE and direct airline spends and 2 per ₹100 elsewhere, at ₹1 a mile on Axis's chart, and gives 8 domestic visits a quarter on Visa Signature or 6 on Mastercard World, plus 2 international a quarter. Its forex markup is 3.5%.
SBI Card ELITE
The SBI Card ELITE has the same ₹4,999 fee, reversed at ₹10 lakh, and the same 1.99% markup and lounge count. It earns 10 points per ₹100 on dining, departmental stores and groceries, capped at 10,000 a month, worth ₹0.25 each, so 2.5%, which make it the household spender's choice.
| If you | Pick |
|---|---|
| Spend abroad and transfer to many airlines | SBI Card Miles Elite |
| Want a fee waiver below ₹15 lakh and fly a lot | HSBC TravelOne |
| Book flights direct and want a lower fee | Axis Bank Horizon |
| Spend mostly on dining and groceries | SBI Card ELITE |
See more in our airport lounge cards list or start from the credit cards guide.
Miles Elite against similar cards
| Term | SBI Card Miles Elite This card | HSBC TravelOne Credit Card | Axis Bank Horizon Credit Card | SBI Card ELITE |
|---|---|---|---|---|
| Bank | SBI Card | HSBC India | Axis Bank | SBI Card |
| Joining fee | ₹4,999 + GST | ₹4,999 + GST | ₹3,000 + GST | ₹4,999 + GST |
| Annual fee and waiver | ₹4,999 + GST. Annual Fee reversal on spends of Rs. 15 lakhs in a membership year (MITC: Rs. 15 lakh or more in the preceding year) | ₹4,999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 8,00,000 | ₹3,000 + GST. No spend-based annual fee waiver. Nil fees for customers with a Burgundy Savings Account opened on or after 1 July 2026 (one lifetime-free Axis card per Burgundy customer, at the bank's discretion). | ₹4,999 + GST. Renewal fee waived off on annual spends of Rs. 10 lakh or more in the preceding year |
| Base reward | 2 Travel Credits for every Rs. 200 on all other spends (about 1% value) | 2 reward points for every Rs 100 spent, no cap | 2 EDGE Miles per INR 100 on other spends (about 2% value) | 2 Reward Points per Rs (about 0.5% value) |
| Best category | Travel spends: airlines, hotels, travel agencies, car rental, rail, bus, tolls and similar: about 3% value | Flights, travel aggregators and foreign currency spends: 4 reward points per Rs 100 | Axis Bank Travel EDGE portal and airline spends: about 5% value | Dining, departmental stores and grocery: about 2.5% value |
| Lounges | Domestic: 8 complimentary domestic airport lounge visits a year (max 2 per quarter), plus 1 extra visit per Rs. 1 lakh spent (max 15 extra a membership year) International: 6 complimentary international airport lounge visits a year (max 2 per quarter) via Priority Pass; Priority Pass membership complimentary for the first 2 years | Domestic: 6 complimentary domestic lounge visits a year International: 4 complimentary international lounge visits a year (LoungeKey) | Domestic: 8 complimentary visits per calendar quarter (Visa Signature) or 6 per calendar quarter (Mastercard World) International: 2 complimentary visits per calendar quarter (USD 1 authorisation, reversed) | Domestic: 2 complimentary domestic airport lounge visits every quarter (8 a year) International: 6 complimentary Priority Pass lounge visits per calendar year outside India (max 2 per quarter); Priority Pass membership complimentary, valid 2 years |
| Forex markup | 1.99% of the amount | 3.5% of the amount | 3.5% of the amount | 1.99% of the amount |
| Network | Mastercard, RuPay | Mastercard | Visa, Mastercard | Visa, Mastercard, American Express |
| Published minimum income | Stable income; SBI Card says the specific minimum varies by card and does not... | ₹50,000 a month | Not stated on the card page | Stable income; SBI Card says the specific minimum varies by card and does not... |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
What is the SBI Card Miles Elite annual fee, and how is it waived?
How much is a Miles Elite Travel Credit worth?
What is the eligibility for SBI Card Miles Elite?
How many lounge visits does SBI Card Miles Elite give?
Does SBI Card Miles Elite still include air accident insurance?
What happened to the Etihad Guest Premier SBI Card?
Related
- SBI Card Credit Cards 2026: Caps, Fees and the Card That Fits You
- HSBC TravelOne Credit Card Review: 1:1 Airline Miles for a ₹4,999 Fee
- Axis Bank Horizon Credit Card Review: 5 EDGE Miles per ₹100 on Airlines
- SBI Card ELITE Review: Is the ₹4,999 Fee Worth It in 2026?
- Travel Credit Cards Explained: Miles, Hotel Points and Forex Costs
Sources
- SBI Cards and Payment Services Ltd: Most Important Terms & Conditions (PDF 'MITC- Common-30OCT26', Ver FY 27, 16); Rewards Program T&C for SBI Card Miles / Miles Prime / Miles Elite (Travel Credits); Rewards Program T&C for SBI Card Miles family; Rewards Program T&C for SBI Card Miles family (airline partners table); Rewards Program T&C for SBI Card Miles family (exclusions table); SBI Card Miles Elite T&C booklet (FAQ 14); SBI Card Miles Elite T&C booklet (13.3 Coverage); SBI Card Miles Elite T&C booklet; SBI Card Miles Elite product page (page content served from SBI Card's card data file); SBI Card credit card listing (data feed behind the 'Credit Cards' listing page and card finder)
Last verified: 5 November 2026
Written by Ramesh Kulkarni, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.