In-depth review
SBI Card Miles Elite
SBI's flagship flexible-miles card: 6 Travel Credits per ₹200 on travel (~1.5% at our 50-paisa value, up to ~3% on good 1:1 transfers), a low 1.99% forex markup, Priority Pass, and a full fee reversal at ₹15 lakh spend. A genuine premium travel card for high spenders who transfer points — overkill for anyone who won't.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹2,500 in vouchers, points or cashback in year one — conditional on ₹1,00,000 of spend within 60 days of card set-up
1.5% on Travel
6 Travel Credits per ₹200 on travel spends (~1.5% at our 50-paisa default; ~3% only if you transfer at a good 1:1 ratio). Convert to Air Miles/Hotel Points at up to 1:1, travel bookings at ₹0.50, catalogue at ₹0.25.
0.5% on Other
2 Travel Credits per ₹200 on all other spends (~0.50% at our 50-paisa default; ~1% only if you transfer at a good 1:1 ratio). Transfer to airline & hotel partners at up to 1 Travel Credit = ₹1.
Airport Lounge Access
8 domestic airport lounge visits/year (max 2/quarter) plus Priority Pass with 6 international visits/year. 1 extra domestic visit per ₹1 lakh spend, capped at 15/year. Priority Pass free for first 2 years.
Annual Fee Waiver
Fee of ₹4,999 + 18% GST (₹5,899 all-in)/yr fully waived when you spend ₹15,00,000/year
Fuel Surcharge Waiver
1% waiver on fuel transactions, capped at ₹500/month
Milestone Bonus
~₹10,000 in bonus rewards on hitting annual spend milestones
Insurance Cover
Air accident cover up to ₹1 crore, lost card liability up to ₹1 lakh, up to 6 flight cancellations/year (₹3,500 each), check-in baggage loss up to ₹72,000, delay ₹7,500, travel documents ₹12,500.
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
8 visits/yr
Domestic lounges
Priority Pass
International lounges
₹10,000
Estimated annual value
1.99%
Forex markup
1.5%
Travel reward rate
- Domestic + international airport lounge access (8 domestic visits/yr, worth ~₹10,000)
- Low forex markup: 2.0%
- Travel insurance cover included
👑 PREMIUM LIFESTYLE BENEFITS
Concierge, golf, hotel membership and high-value perks for premium cardholders.
₹10,000
Milestone bonus value
- Travel insurance and accident cover
- 20,000 bonus Travel Credits on annual spends of ₹12 lakh. Annual fee reversed on spends of ₹15 lakh in a membership year.
For frequent flyers who spend ₹12 lakh or more a year on the card and transfer their credits to airline and hotel partners, and who value both domestic and international lounge access plus a low forex markup abroad.
Full reward structure
What you earn on every rupee, per spend category — as of 11 Oct 2026. Rates assume 1 pt = ₹0.50. How we value points →
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Travel | airline miles | 1.5%3 pts/₹100 × ₹0.50 | — |
| Other | airline miles | 0.5%1 pts/₹100 × ₹0.50 | — |
Travel: 6 Travel Credits per ₹200 on travel spends (~1.5% at our 50-paisa default; ~3% only if you transfer at a good 1:1 ratio). Convert to Air Miles/Hotel Points at up to 1:1, travel bookings at ₹0.50, catalogue at ₹0.25.
Other: 2 Travel Credits per ₹200 on all other spends (~0.50% at our 50-paisa default; ~1% only if you transfer at a good 1:1 ratio). Transfer to airline & hotel partners at up to 1 Travel Credit = ₹1.
Earns nothing on: Fuel · Wallet Loads · Rent · Education · Utility Bills · Insurance · Cash Advances · EMI Conversions
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 11 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹5,899 |
| Joining fee (incl. 18% GST) | ₹5,899 |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 1.99% |
| Fuel surcharge waiver | 1%, cap ₹500 |
Perks & benefits
Estimated annual value beyond rewards — ~₹23,000/yr in total.
8 domestic airport lounge visits/year (max 2/quarter) plus Priority Pass with 6 international visits/year. 1 extra domestic visit per ₹1 lakh spend, capped at 15/year. Priority Pass free for first 2 years.
20,000 bonus Travel Credits on annual spends of ₹12 lakh. Annual fee reversed on spends of ₹15 lakh in a membership year.
1% fuel surcharge waiver on transactions of ₹500–₹3,000 at all petrol pumps, capped at ₹500 per statement cycle. Fuel spends still earn no Travel Credits
Air accident cover up to ₹1 crore, lost card liability up to ₹1 lakh, up to 6 flight cancellations/year (₹3,500 each), check-in baggage loss up to ₹72,000, delay ₹7,500, travel documents ₹12,500.
Spend milestone
- ₹12,00,000 a year₹10,000 of value
Should you get it?
- Best for: Frequent flyers with ₹12 lakh+ annual card spend, Travellers who transfer points to airline and hotel partners, Heavy overseas spenders wanting a low 1.99% forex markup, Users who value both domestic and international lounge access
- Premium tier — a solid all-rounder for steady monthly spend.
- Strongest value if you spend heavily on Travel (1.5% back).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ Pros
- 6 Travel Credits per ₹200 on travel (~1.5% at 50 paisa, up to ~3% on 1:1 transfers), transferable to airline and hotel partners at up to ₹1 each
- Low 1.99% foreign-currency markup — among the best for overseas spending at this fee
- Priority Pass with 6 international lounge visits plus 8 domestic visits a year
- Annual fee fully reversed at ₹15 lakh spend, and a 20,000-credit milestone at ₹12 lakh
✕ Cons
- ₹4,999 fee needs heavy travel spend to justify — the reversal only triggers at ₹15 lakh
- Full value depends on partner transfers; catalogue redemption craters to ₹0.25 per credit and the travel portal pays ₹0.50, which is what we model by default
- Fuel, wallet loads, rent, education, utilities, insurance, cash advances and EMI earn nothing at all
- Travel Credits expire 24 months after they are earned
- Only 1% on non-travel spends — weak as an everyday all-rounder
- Not a single-airline co-brand, so no elite status or airline-specific perks
Eligibility & documents
Documents required
- 📄PAN card
- 📄Aadhaar / address proof
- 📄Income proof (salary slips or ITR)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Convert Travel Credits to airline miles and hotel points at up to 1:1 (1 credit = ₹1)
- 🎁Redeem Travel Credits for flight and hotel bookings at ₹0.50 per credit
- 🎁Redeem in the Shop & Smile catalogue at ₹0.25 per credit
What your SBI Card Travel Credits are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
₹0.50 per Travel Credit against travel bookings — the realistic default if you never transfer
₹0.25 per credit — the floor
The reason to hold the card: 24 partners, and unlike most Indian banks the transfer genuinely doubles value rather than destroying it (₹1/credit at 1:1 against ₹0.50 in the portal). Ratios are identical across Miles, Miles Prime and Miles Elite — those three differ only in EARN rate, not conversion. Twelve partners convert 1:1 (Air India, Aeroplan, BA, Cathay, Qantas, Thai, Vietnam, SpiceJet, AirAsia, IHG, Wyndham, Radisson — Etihad Guest left the table in August 2026 and Air France-KLM Flying Blue on 23 September 2026); Air Arabia, Emirates, Ethiopian, JAL, Saudia, Turkish, United, Accor, Club ITC and Jumeirah One are 2:1. edges.yml models 22 of the 24: Air Arabia has no researched point value, and Orchid's ratio is unreadable in SBI's PDF. Do not read the ratio as the value: Shangri-La at 6:1 is the BEST route on the card (~₹1.07/credit, because a Shangri-La point is worth ~₹6.40), while AirAsia at 1:1 is the worst (~₹0.20). Transfers are FINAL, and Travel Credits accumulate for a maximum of 24 months.
✈ Transfer partners
Direct transfers from this card only, ranked by what a point is worth in the destination programme — plus 14 more partners. Full calculator, every currency →
The ₹4,999 fee needs heavy travel spend to justify, and full value depends on partner transfers — catalogue redemption craters to ₹0.25 per credit.
Frequently asked questions
Does it charge extra for dynamic currency conversion?
How does SBI Card Miles Elite earn?
What is the welcome benefit?
What lounge access does it offer?
What is the foreign currency markup?
How has the SBI Card Miles Elite changed over time?
Has the SBI Card Miles Elite been devalued recently?
How did the SBI Card Miles Elite change in 2026?
The bottom line
The most complete travel card SBI makes — 3% on travel, a rare 1.99% forex markup, Priority Pass, strong insurance and a fee that disappears at ₹15 lakh spend. Match that spending profile and transfer your credits and it is excellent; fall short, or skip the transfer homework, and the cheaper MILES or MILES PRIME serve you better for less.
How this page was built
Counted from this card’s own record: 2 earn rules, the spends listed as earning nothing and 4 recorded perks. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 11 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the SBI Card Miles Elite are taken from SBI Card's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 11 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for SBI Card. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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Read more
Guides and reviews related to this card.
SBI Card Miles Elite
SBI's flagship flexible-miles card: 6 Travel Credits per ₹200 on travel (~1.5% at our 50-paisa value, up to ~3% on good 1:1 transfers), a low 1.99% forex markup, Priority Pass, and a full fee reversal at ₹15 lakh spend. A genuine premium travel card for high spenders who transfer points — overkill for anyone who won't.
Club Vistara SBI Card PRIME
Discontinued. This premium Vistara co-brand earned 4 CV Points per ₹200 on all spends, a complimentary Premium Economy air-ticket voucher at annual-spend milestones, lounge access and Priority Pass. Vistara merged into Air India in November 2024; the card is closed to new applicants and holders were migrated to Air India. Kept for reference.
SBI Card MILES PRIME
The middle child of SBI's Miles family: 4 Travel Credits per ₹200 on travel (~1% at our 50-paisa value, up to ~2% on good 1:1 transfers), a 2.50% forex markup, Priority Pass and a fee reversal at ₹10 lakh spend. A sensible step up from the base MILES for regular flyers who don't spend enough to justify the Elite.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2024 · last change Sept 2026
2026
- ▼ TransferEffective 23 Sept 2026
Air France-KLM Flying Blue removed as a transfer partner
Flying Blue at 1:1; 17 airline partners + 8 hotel partners (25 total)→Flying Blue removed; 16 airline partners + 8 hotel partners (24 total)
SBI dropped Air France-KLM Flying Blue from the MILES-family transfer table with no customer notice we could find. The archived copy of 4 August 2026 lists it as airline row 4 at 1:1; the PDF SBI re-issued on 23 September 2026 does not mention Flying Blue, Air France or KLM anywhere and lists 16 airlines. The change therefore lands between 4 August and 23 September 2026, dated here to the day the new PDF was created. Hotel partners are untouched at 8 and no other ratio moved. Applies identically to MILES, MILES PRIME and Miles Elite, because SBI publishes one transfer table for all three. Aeroplan, British Airways, Cathay and Qantas remain at 1:1 for the same kind of long-haul redemption.
Verification: SBI Card ↗ · Confidence: Reconstructed
- ▼ TransferEffective 13 Aug 2026
Etihad Guest removed as a transfer partner
Etihad Guest at 1:1; 18 airline partners + 8 hotel partners (26 total)→Etihad Guest removed; 17 airline partners + 8 hotel partners (25 total)
SBI retired Etihad Guest from the MILES-family transfer table with no customer notice we could find. Pinned on both sides: the Wayback capture of 4 Aug 2026 still lists it as airline row 8, "Etihad Airways / Etihad Guest / 1:1", among 18 airlines, while the live PDF read on 15 Aug 2026 contains the string "Etihad" zero times across all seven pages and lists 17. The change therefore lands between 4 and 13 August 2026, narrower than the 30 Jul–13 Aug window first recorded. Hotel partners are untouched at 8 and no other ratio moved. Applies identically to MILES, MILES PRIME and Miles Elite — SBI publishes one transfer table with no per-card qualifier; the three differ in earn rate only. WARNING FOR ANYONE RE-READING THE RAW DIFF: its excerpts appear to say Cathay Pacific was removed. That is an artefact of the renumbering (old rows 9-18 became 8-17) mis-pairing chunks — Cathay is still row 7 and still transfers at 1:1.
Verification: SBI Card ↗ · Confidence: High
2025
- ▼ BenefitEffective 15 Jul 2025
Air accident cover reported withdrawn — SBI still publishes it on this card
₹1 crore complimentary cover→Reported withdrawn; SBI's live product page still lists it
Press coverage in June 2025 reported that SBI Card was discontinuing complimentary ₹1 crore air accident insurance across Elite, Miles Prime, Prime, Pulse and Miles Elite. RE-ADJUDICATED 2026-08-06 and downgraded: SBI's live Miles Elite product page publishes "Air Accident cover up to Rs. 1 crore" in its Insurance Cover panel today, thirteen months later. The asymmetry is telling — the MILES PRIME product page carries no air accident cover, which corroborates the withdrawal on THAT card. We hold no SBI-published notice naming Miles Elite. Either the withdrawal never applied to this card, or it was reversed. Until an issuer source settles it we follow the live product page: the cover is carried in card-data and this event stands as a record of what was reported, not as a confirmed devaluation. This is the sbi-irctc-premier failure mode in reverse — a withdrawal recorded from press coverage the issuer does not support.
Verification: SBI Card ↗ · Confidence: Reconstructed
2024
- ◆ LaunchEffective 23 Apr 2024
SBI Card Miles Elite launched
SBI launched its first travel-centric card family, with Miles Elite as the ₹4,999 flagship earning 6 Travel Credits per ₹200 on travel (~3%) and 2 per ₹200 (~1%) elsewhere, plus Priority Pass, domestic lounge access and a 1.99% forex markup.
Verification: SBI Card ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: <a href="https://cardadvisor.in/cards/sbi-miles-elite#value-timeline">SBI Card Miles Elite value timeline</a>, CardAdvisor (CC BY 4.0).
Terms & reward changes
Tracked updates to this card's fees, rewards and benefits — newest first.
- ➖ Benefit removedEffective 23 Sept 2026
SBI Card removed Air France-KLM Flying Blue from the MILES-family transfer partners (terms re-issued 23 Sep 2026). Travel Credits still transfer to the other airline and hotel partners.
- ➖ Benefit removedEffective 13 Aug 2026
Etihad Guest has been removed from the SBI Card MILES transfer-partner table. Travel Credits can no longer be converted to Etihad Guest miles (previously 1:1); airline partners drop from 18 to 17, 25 partners in all. Verified against SBI's rewards T&C of August 2026 - the earlier table still listed Etihad on 4 August, the current one does not. If you hold Travel Credits earmarked for Etihad, they remain redeemable via the other 24 partners or SBI's travel portal.
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