KrisFlyer SBI Card Apex

Quick verdict: The KrisFlyer SBI Card Apex is a ₹9,999 super-premium co-brand aimed squarely at Singapore Airlines loyalists. It earns 10 KrisFlyer Miles per ₹200 on SIA, credits miles straight to your KrisFlyer account, hands you a 10,000-mile welcome, and fast-tracks you to KrisFlyer Elite Gold on ₹7.5 lakh of SIA spend. If Singapore Airlines is your airline, that's a genuinely powerful package. If it isn't, the fee is almost impossible to justify. One caveat that belongs up front: the forex markup is 3.50%, so despite the 8-mile international rate, overseas spending on this card is a net loss of about 1.50% — it is a card for earning on rupee spending toward SIA travel, not one to carry abroad.

How it earns

Miles go directly into your KrisFlyer account on the statement date — no separate conversion step, which is a real convenience:

• 10 KrisFlyer Miles per ₹200 on Singapore Airlines Group spends.
• 8 KrisFlyer Miles per ₹200 on international spends.
• 6 KrisFlyer Miles per ₹200 on other eligible spends.

"Eligible" carries weight in that last line, so it is worth naming rather than leaving to the terms. Fuel, wallet loads, rent, utility bills, government payments, cash advances and EMI conversions earn nothing. On a ₹9,999 card that is a meaningful hole, and it matters more here than on the base card because the milestones are larger — ₹5 lakh and ₹10 lakh of qualifying spend are harder to reach when the recurring bills that would get you there do not count. The 6-mile rate also covers domestic travel that is not a Singapore Airlines Group ticket, so a domestic flight on another carrier earns the base rate.

KrisFlyer Miles are valued below their ₹1 headline here, because what a mile is worth depends on the award you redeem. At a conservative ₹0.50 a mile the rates come out at roughly 2.50% on SIA, 2.00% on international and 1.50% on everything else — respectable for a co-brand, but a long way from the headline mile counts.

The 8-mile international rate loses to the markup

The card leads on international earning, but its foreign-currency markup is 3.50% — the standard Indian rate, with no co-brand concession. Spend ₹100 abroad and you earn about ₹2.00 of miles while paying ₹3.50 to convert.

Net, every overseas swipe costs about 1.50%. The Apex is better here than the base KrisFlyer, which loses around 2.25%, but "loses less" is not the same as "good for international spending" — and international spending is what the 8-mile rate is advertised for.

The practical read: this is a domestic earning card for someone who flies Singapore Airlines. Put rupee spending on it, put foreign currency on a low-markup card, and judge the Apex on what it genuinely does well — the SIA rate, Elite Gold, and miles that land in your account without a conversion step.

Welcome, milestones and status

• 10,000 KrisFlyer Miles welcome on fee payment and first transaction within 60 days.
• +10,000 miles at ₹5 lakh annual spend, and +3,000 miles at ₹10 lakh cumulative spend.
• KrisFlyer Elite Gold tier upgrade on ₹7.5 lakh of Singapore Airlines spend — the standout perk, since

Elite Gold carries Star Alliance Gold benefits like lounge access and priority check-in.

For a frequent SIA flyer, the welcome plus the ₹5 lakh milestone is 20,000 miles in year one, and the Elite Gold fast-track is worth far more than the fee if you'd otherwise struggle to reach the status by flying alone.

Lounges, insurance and fuel

Lounge access is broad: 8 domestic visits a year (2 per quarter) plus complimentary Priority Pass membership (worth $99) with 8 international visits a year (max 2 per quarter) — a $27 usage fee applies per Priority Pass visit. You also get baggage loss/delay cover of ₹1 lakh and fraud loss cover of ₹10 lakh, plus the standard 1% fuel surcharge waiver (capped at ₹250 per cycle).

Who it's right — and wrong — for

Hold this card if you fly Singapore Airlines frequently and want to accelerate KrisFlyer Miles and status. For you, the SIA earn rate, the Elite Gold fast-track and the international lounge access combine into value that clears ₹9,999 — and the direct-to-KrisFlyer crediting is a nice touch.

It's the wrong card for anyone who doesn't fly SIA regularly. The ₹9,999 fee has no waiver, the base earn rate is modest, and you'd be paying super-premium money for benefits tied to one airline group. If you want KrisFlyer earning at a lower commitment, the KrisFlyer SBI Card at ₹2,999 is the sensible step down. If you want flexibility to transfer to many programs including KrisFlyer, a card like the Axis Horizon deserves a look.

The bottom line

The KrisFlyer SBI Card Apex is a specialist's card — outstanding for the Singapore Airlines loyalist chasing miles and Elite Gold status, and poor value for everyone else. Match the card to your flying: if SIA is home, this earns its keep; if it isn't, spend your ₹9,999 elsewhere.