PSB SBI Card ELITE Review 2026: Fees, Rewards, Benefits & FAQs
PSB SBI Card ELITE costs ₹4,999 a year and is the Punjab & Sind Bank edition of SBI Card ELITE — up to 50,000 bonus Reward Points a year and a 1.99% forex markup. Identical rates, caps and benefits to the parent card. Quick facts, what to watch, and FAQs.
The PSB SBI Card ELITE is the edition of SBI Card's SBI Card ELITE distributed through Punjab & Sind Bank. It is offered to Punjab & Sind Bank's own customers, typically through its branch network across north India.
The short version: this card is commercially identical to the SBI Card ELITE. Its fee, fee-reversal threshold, reward rates, caps, welcome benefit, milestone programme, lounge entitlement, insurance and fuel surcharge waiver are all the same. A line-by-line comparison of the two product pages found no difference in any published rate, cap, fee or benefit — only the bank's name on the card, and on some pages a shorter lounge-list link. **For the full reward maths, worked examples, category analysis and fee schedule, see the SBI Card ELITE review.** Everything in it applies here unchanged.
Quick Facts
| **Card type** | SBI Card ELITE — Punjab & Sind Bank edition |
|---|---|
| **Issued through** | Punjab & Sind Bank |
| **Joining / annual fee** | ₹4,999 + GST, same on renewal — reversed at ₹10,00,000 of annual spend |
| **Network** | Visa, Mastercard or American Express |
| **Top reward rate** | **2.5%** — 10 Reward Points per ₹100 (5X) on dining, departmental stores and grocery |
| **Base rate** | 0.5% — 2 Reward Points per ₹100 |
| **Welcome benefit** | ₹5,000 e-gift voucher + 1-year Club ITC Silver membership |
| **Milestones** | Up to 50,000 bonus Reward Points a year — **₹12,500** — plus ₹6,000 of free movie tickets |
| **Forex markup** | **1.99%** — among the lowest on any Indian card |
| **Lounge access** | 8 domestic + 6 international visits a year |
| **Fuel surcharge waiver** | 1% on ₹500–₹4,000, max ₹250 per statement cycle |
| **Reward value** | ₹0.25 per Reward Point (4 RP = ₹1) |
Who It Is For
PSB SBI Card ELITE is a premium travel card built around milestone bonuses, lounge access and one of the lowest forex markups on an Indian card. Choose it over the mainline SBI Card ELITE on the strength of your banking relationship with Punjab & Sind Bank — a branch you already use, an existing account, or a pre-approved offer — because the economics are the same either way.
If you hold no relationship with Punjab & Sind Bank, the mainline SBI Card ELITE gives you exactly the same card, and SBI Card distributes it directly.
What to Watch
The fee reversal threshold is ₹10 lakh. High, and out of reach for most holders. Budget the ₹4,999 as a real annual cost and judge the card on whether the milestones and the 1.99% forex markup repay it.
The accelerated band is capped at 10,000 Reward Points a calendar month. Shared across all three categories, binding at ₹1,00,000 of accelerated spend. Past it the base rate continues.
Eligibility and How to Apply
The card is distributed through Punjab & Sind Bank, so applications normally go through a Punjab & Sind Bank branch or its own channels rather than SBI Card's website. SBI Card publishes no age or income threshold for this edition; approval rests on the bank's assessment of income, credit history and internal scoring. Indian residency and a valid PAN are required. Add-on cards are free.
Frequently Asked Questions
What is the annual fee of the PSB SBI Card ELITE? ₹4,999 plus GST, on joining and renewal — the same as the mainline SBI Card ELITE. The renewal fee is reversed if annual spend in the previous year reached ₹10,00,000.
Is it different from the SBI Card ELITE? Not commercially. Every published rate, cap, fee, welcome benefit, milestone and lounge entitlement is identical. The difference is distribution — this edition is issued through Punjab & Sind Bank.
What is the reward rate? Up to 50,000 bonus reward points a year and a 1.99% forex markup. The full breakdown, including the categories, caps and worked examples, is in the SBI Card ELITE review.
How do I apply? Through Punjab & Sind Bank, normally at a branch. The mainline SBI Card ELITE is available directly from SBI Card if you have no Punjab & Sind Bank relationship.
Which is the better card to hold? Whichever you can get more easily. They earn the same, cost the same and carry the same benefits, so there is no reward-based reason to prefer one over the other.
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