The SBI Card PRIME, a lifestyle credit card issued by SBI Card (a subsidiary of State Bank of India), commands a significant annual fee of Rs. 2,999. However, a comparative analysis reveals that several entry-level and mid-range credit cards offer similar or superior benefits at a lower annual fee. This renders the SBI Card PRIME a less compelling option within its price segment.
The SBI Card PRIME offers a tiered reward structure. Cardholders earn 2 Reward Points per ₹100 spent on all purchases and 10 Reward Points per ₹100 spent on dining, groceries, and department store purchases. With each Reward Point valued at ₹0.25, this translates to an effective reward rate of 0.5% on general spending and 2.5% on the designated bonus categories. This reward structure positions the card as a potentially valuable option for high-spending individuals who frequently utilize these bonus categories, offering a compelling return on their spending.
The SBI Card PRIME exhibits characteristics similar to the SBI ELITE Credit Card, offering a potentially simplified and more affordable alternative. Although precise fee information for the SBI Card PRIME is unavailable, its comparison to the ₹4,999 annual fee associated with the SBI ELITE card suggests a likely lower cost structure, making it a potentially more accessible option for cardholders.
The SBI Card PRIME, while potentially offering a lower cost compared to alternatives, provides a compelling value proposition due to its inclusion of several significant benefits. These include complimentary access to domestic and international airport lounges, alongside discounts on hotel bookings and movie tickets. Such features significantly enhance the card’s attractiveness, particularly for individuals who frequently travel or engage in entertainment activities. However, it is crucial to acknowledge that the realized value of the card will be directly correlated with the cardholder’s spending patterns and their utilization of the included complimentary services.
The SBI Card Prime, similar to the ELITE Card, is available in three network variants: MasterCard, American Express, and Visa. While the core reward structure and benefits are largely consistent across all three variants, each payment network offers distinct, exclusive perks.
Features & Benefits
Welcome Gift Voucher: Rs. 3,000 voucher from any of these brands:
- Bata/ Hush Puppies OR Pantaloons OR Shoppers Stop OR Aditya Birla Fashion OR Yatra
Complimentary Lounge Access:
- 4 complimentary lounge visits per calendar year to international Priority Pass lounges, outside India (Max. 2 visits in a quarter)
- 8 complimentary lounge visits per calendar year to domestic lounges in India (Max. 2 visits per quarter)
Insurance Cover: Air accident liability cover of up to Rs. 50 Lakh and Fraud Liability Cover of Rs. 1 Lakh
Network-based Benefits:
Mastercard:
- 4 complimentary rounds of golf and up to 50% off on golf games and 1 complimentary lesson per month at select golf courses in India
- Up to 15% discount on stay and F&B at Lalit Hotels
Visa:
- Up to 10% off on Hertz car rental
- Up to 35% discount on Avis Car rentals
- Exclusive benefits across 900 luxury hotels worldwide
American Express:
- Up to 25% discount at select restaurants across India
- Complimentary Tablet plus membership that provides VIP upgrades and privileges at select hotels in India and abroad
Fuel Surcharge Waiver: 1% fuel surcharge waiver on your transactions between Rs. 500 and Rs. 4,000 across all petrol pumps in India
SBI Card PRIME : Fees & Charges
| Fee Type | Amount |
|---|---|
| Joining Fee | Rs. 2,999 |
| Annual Fee | Rs. 2,999 |
| Finance Charges | 3.5% p.m. (42% p.a.) |
| Late Payment Charges3 | For Statement Balance : Up to Rs. 500NilRs. 500 to Rs. 1,000Rs. 400Rs. 1,000 to Rs. 10,000Rs. 750Rs. 10,000 to Rs. 25,000Rs. 950Rs. 25,000 to Rs. 50,000Rs. 1,100Above Rs. 50,000Rs. 1,300 |
Eligibility Criteria:
Age: 21 to 70 years
Occupation: Salaried or Self-employed
Documents Required: PAN, Aadhaar or any other government approved photo ID and address proof, along with last 3-month’s salary slip or bank statement as proof of income
Eligibility Criteria for SBI Card Prime
An individual can apply for this credit card according to the eligibility criteria and rules stated by the bank.
Documents Required to Apply
- Form for credit card application completed.
- A photocopy of your PAN card or Form 60.
- A passport, Ration Card, utility bill, Aadhar, and other forms of identification are acceptable as proof of residency.
- PAN, driving license, Aadhar Card, and other forms of identification are acceptable.
- Income documentation such as the most recent pay stubs, Form 16, IT return a copy, etc.
- Coloured pictures of the applicant at passport size are required.