SBI·PhonePe SBI Card SELECT BLACK

Card DetailSBI · RUPAY · Mid tier

PhonePe SBI Card SELECT BLACK

Name: PhonePe SBI Card SELECT BLACK
Brand: SBI Card

The PhonePe SBI Card SELECT BLACK is a co-brand with PhonePe that pays its best rate exactly where most cards pay nothing: 10% reward points (1 RP = ₹1) on spends made inside the PhonePe app — utilities, recharges, bill payments, insurance and travel — plus 5% on other online spends and 1% on UPI and everything else. It is issued on RuPay (UPI-linkable) and Visa. A 1 July 2026 devaluation cut the caps. PhonePe-app spends are now capped at 1,500 RP/month (was 2,000), online at 1,000 RP/month (was 2,000), and insurance at just 500 RP/month, with tolls, gifts, jewellery, education and any insurance/utility/UPI routed outside PhonePe excluded. A ₹1,500 PhonePe gift card on joining covers most of the ₹1,769 all-in first-year fee, and the fee is waived at ₹3 lakh annual spend; ₹5 lakh earns a ₹5,000 Yatra voucher. It also includes a 1% fuel surcharge waiver (₹500–₹4,000 transactions, capped ₹250/cycle) and a complimentary 2-year Priority Pass membership, though international lounge visits on it are self-paid.

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PhonePe SBI Card SELECT BLACK

SBI Card

PhonePe SBI Card SELECT BLACK

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★ 3.7 / 5 · CardAdvisor rating•Issued by SBI Card•Updated 11 Oct 2026

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3.7

out of 5

Mid tier

A genuinely useful card for PhonePe loyalists — 10% on bill payments and recharges is rare — but the July 2026 cap cuts (1,500 RP/month general, 500 on insurance) mean it rewards routine household bills, not large one-off payments. Most value comes from inside the PhonePe app; outside it, the card is ordinary. For simple, uncapped online cashback, the SBI Cashback is the steadier pick.

Annual fee₹1,769 incl. GST

Fee waiver₹3,00,000 spend

Top rate~1%–10%

Best forPhonePe-first users with regular utility and bill-payment spend

~₹1,500

Welcome benefit

3.5%

Forex markup

~₹8,200

Total perk value / yr

In-depth review

PhonePe SBI Card SELECT BLACK

A PhonePe × SBI co-brand that pays 10% reward points (1 RP = ₹1) on bill payments, recharges and utilities routed through the PhonePe app — a category most cards exclude. A 1 July 2026 devaluation cut the PhonePe cap to 1,500 RP/month (500 on insurance) and halved the online cap, so it now rewards routine household bills, not large one-off payments. A ₹1,500 PhonePe gift card covers most of the ₹1,769 all-in first-year fee, and the fee is waived at ₹3 lakh.

Read the full review →

Key features

What this card is built to do — the highlights that actually matter.

🎁

Welcome Benefit

~₹1,500 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days

⭐

10 points/₹100 on Utility Bills (~10% value)

10% RP on PhonePe-app spends (utilities, recharges, bills, travel) — bills paid outside the app earn nothing; cap 1,500 RP/mo, insurance sub-capped 500 RP/mo (from Jul 2026). No points under ₹100

⭐

5% on Online Shopping

5% RP on online/e-commerce spends; cap cut to 1,000 RP/month from Jul 2026

✈️

Airport Lounge Access

Complimentary: 4 domestic airport lounge visits a year (1 a quarter)

💳

Annual Fee Waiver

Fee of ₹1,499 + 18% GST (₹1,769 all-in)/yr fully waived when you spend ₹3,00,000/year

⛽

Fuel Surcharge Waiver

1% waiver on fuel transactions, capped at ₹250/month

🎯

Milestone Bonus

~₹5,000 in bonus rewards on hitting annual spend milestones

📱

UPI Linked

Pay UPI QR codes from your credit line. What UPI payments earn can depend on the app you pay through, so check the rewards details.

✈️ TRAVEL BENEFITS

Lounge access, miles, forex rates and travel perks at a glance.

AIRPORT LOUNGE ACCESS

4 visits/yr

Domestic lounges

₹2,000

Estimated annual value

3.5%

Forex markup

Domestic airport lounge access (4 domestic visits/yr, worth ~₹2,000)

Who is this for?

PhonePe-first users with regular utility, recharge and bill-payment spend who will route it all through the PhonePe app and redeem points as statement credit. Best paired with a flat cashback card for spends outside the PhonePe ecosystem.

Full reward structure

What you earn on every rupee, per spend category — as of 11 Oct 2026. Rates assume 1 pt = ₹1.00. How we value points →

Category	Type	Rate	Monthly cap
Utility Billsonly at PhonePe app	reward points	10%10 pts/₹100 × ₹1.00	₹1,500
Online Shopping	reward points	5%5 pts/₹100 × ₹1.00	₹1,000
Other	reward points	1%1 pts/₹100 × ₹1.00	₹2,000

Utility Bills: 10% RP on PhonePe-app spends (utilities, recharges, bills, travel) — bills paid outside the app earn nothing; cap 1,500 RP/mo, insurance sub-capped 500 RP/mo (from Jul 2026). No points under ₹100 · PhonePe app

Online Shopping: 5% RP on online/e-commerce spends; cap cut to 1,000 RP/month from Jul 2026

Other: 1% RP on UPI (RuPay scan & pay via PhonePe) and all other spends, capped 2,000 RP/month; 1 RP = ₹1 statement credit

Earns nothing on: Fuel · Wallet Loads · Rent · Education · Government & Tax · Online Gaming · EMI Conversions · Cash Advances · Tolls & Road Fees · Gift Cards & Vouchers · Jewellery · Utilities outside PhonePe · Insurance outside PhonePe · UPI outside PhonePe

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.

Real annual cost: ₹1,499 + 18% GST = ₹1,769 all-in. Joining fee ₹1,499 + 18% GST = ₹1,769 all-in. Issuers quote fees before tax — the all-in figure is what you actually pay if the waiver isn’t met.

Charge	Amount
Annual fee (incl. 18% GST)	₹1,769
Joining fee (incl. 18% GST)	₹1,769
Finance charge (APR)	3.75% p.m.
Forex markup	3.5%
Fuel surcharge waiver	1%, cap ₹250

Perks & benefits

Estimated annual value beyond rewards — ~₹8,200/yr in total.

✈️

lounge access~₹2,000/yr

4 complimentary domestic airport lounge visits a year, 1 per quarter. Includes a complimentary 2-year Priority Pass membership, but international lounge visits on it are self-paid

Domestic1/quarter

🎯

milestone bonus~₹5,000/yr

₹5,000 Yatra travel voucher on ₹5 lakh annual spend

⛽

fuel waiver~₹1,200/yr

1% fuel surcharge waiver on transactions of ₹500–₹4,000, capped at ₹250 per statement cycle

Domestic

Spend milestone

₹5,00,000 a year₹5,000 of value

Should you get it?

Best for: PhonePe-first users with regular utility and bill-payment spend, Households whose monthly bills sit under the ₹1,500 RP cap, Anyone wanting rewards on recharges and utilities other cards ignore
Mid tier — a solid all-rounder for steady monthly spend.
Strongest value if you spend heavily on Online Shopping (5% back; 10% only at PhonePe app).
Frequent travellers benefit from the included airport lounge access.

Pros & cons

✓ Pros

10% reward points on PhonePe utilities, recharges and bill payments — a category most cards exclude
1 RP = ₹1, redeemable as statement credit (effectively real cashback)
₹1,500 PhonePe gift card on joining covers most of the ₹1,769 all-in first-year fee
Complimentary domestic lounge access plus a ₹5,000 Yatra voucher at ₹5 lakh spend

✕ Cons

July 2026 devaluation: caps cut to 1,500 RP/month (general), 1,000 (online) and just 500 RP/month on insurance
Best rate only inside the PhonePe app — spends routed elsewhere earn 1% or nothing
Exclusions — tolls, gifts, jewellery, education, and insurance/utility/UPI outside PhonePe earn no points
3.5% forex markup — not for international use

Eligibility & documents

EmploymentSalaried · Self-employed

Documents required

📄PAN card
📄Aadhaar / valid address proof
📄Latest 3 months bank statement
📄Income proof — salary slips (salaried) or ITR (self-employed)
📄Recent passport-size photograph

How to redeem rewards

Ways to convert what you earn into real value.

🎁Statement credit: 1 RP = ₹1, redeemed via the SBI Card app/customer care (minimum 500 points)
🎁PhonePe gift cards and vouchers: redeem points in the PhonePe / SBI rewards catalogue

What your SBI Reward Points are worth

Realistic value per point by redemption route — the difference is what most people leave on the table.

Statement creditBEST

Capped at 60,000 pts/month from Apr 2026

₹0.25/pt

Rewards catalogue / vouchersBEST

Vouchers & merchandise

₹0.25/pt

Compare what every reward currency is worth →

The concern

The July 2026 devaluation arrived under a year after launch — a fast-trimmed co-brand whose value is tightly fenced inside the PhonePe app and now capped low (₹500 RP/month on insurance).

Frequently asked questions

What rewards does the PhonePe SBI SELECT BLACK earn?

10% reward points on spends inside the PhonePe app (utilities, recharges, bill payments, travel), 5% on other online spends, and 1% on UPI and everything else. 1 RP = ₹1. In effective-return terms this card's best everyday earn is 5% on online shopping (rewards capped at ₹1,000 a month in that category), against 1% on other spends — percentages here are the real return after converting points at their card-specific value, not the headline points-per-₹100. It reaches 10% at PhonePe app, and only there. Figures as of October 2026.

What are the reward caps after July 2026?

From 1 July 2026, 1,500 RP/month on PhonePe-app spends and 1,000 RP/month on online spends (both 2,000 before), and 500 RP/month on insurance. The 1% base on UPI and everything else keeps its 2,000 RP/month cap.

What is the fee?

₹1,499 plus GST (₹1,769 all-in). A ₹1,500 PhonePe gift card on joining covers most of it, and the fee is waived at ₹3 lakh annual spend.

What lounge and fuel benefits are included?

A complimentary domestic lounge visit each quarter plus a 2-year Priority Pass membership (the international lounge visits on it are self-paid), and a 1% fuel surcharge waiver on ₹500–₹4,000 transactions, capped ₹250 per statement cycle. This card waives the 1% fuel surcharge, capped at ₹250 — the waiver offsets the surcharge itself, separate from any rewards the fuel spend earns. Figures as of October 2026.

How has the PhonePe SBI Card SELECT BLACK changed over time?

Our dated Value Timeline for the PhonePe SBI Card SELECT BLACK (on this page) records 3 changes since 2025: 2 devaluations, 0 improvements, and the rest neutral changes such as launches or restructures. The most recent entry: Reward-point caps halved and new exclusions added (1 July 2026). Each event carries its source, so any figure here can be checked against the issuer's own documents.

Has the PhonePe SBI Card SELECT BLACK been devalued recently?

Yes — our record shows 2 devaluations to the PhonePe SBI Card SELECT BLACK in the last 24 months. The most recent: Reward-point caps halved and new exclusions added, effective 1 July 2026 — from Flat 2,000 RP/month cap on PhonePe and on online spends to 1,500 RP/mo PhonePe (500 RP insurance sub-cap); 1,000 RP/mo online. The full dated list, with what changed and its source, is in the Value Timeline on this page.

When did the PhonePe SBI Card SELECT BLACK's fees last change?

1 November 2025: 1% fee on third-party education payments & large wallet loads — from No surcharge on education/wallet-load spends to 1% fee on 3rd-party education fees & wallet loads over ₹1,000. The current fee schedule is in the fees table on this page; the Value Timeline lists every earlier fee change we have on record.

The bottom line

Apply →Estimate my rewards Is this YOUR best card? →

How this page was built

Counted from this card’s own record: 3 earn rules, 3 of them capped, 1 paid only at named merchants, the spends listed as earning nothing and 3 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 PhonePe SBI Card SELECT BLACK 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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