Verified — 16/16 categories
SBI · RuPay / Visa / Mastercard / American Express
PhonePe SBI Card SELECT BLACK
Best forInsurance & Utilities
Earns10 RP/₹100 on insurance — only at PhonePe in-app insurance
1st Year / Joining Fee
₹1,499 + taxes
Renewal Fee
₹1,499 + taxes
charged every year for PhonePe SBI Card SELECT BLACK
Fee waiver
₹3,00,000
annual spend
Network
RuPay / Visa / Mastercard / American Express
SBI
PhonePe SBI Card SELECT BLACK
RuPay / Visa / Mastercard / American ExpressWhy this card may suit you
Based on the card's verified terms.
- Best suited to spending on insurance and utilities, where it earns 10 RP/₹100 (only at PhonePe in-app insurance)
- Annual fee is waived at ₹3,00,000 yearly spend
How you earn
Reward rates at a glance — exactly as recorded for this card.
InsuranceOnly at PhonePe in-app insurance10 RP/₹100
UtilitiesOnly at PhonePe in-app bill payments & utilities10 RP/₹100
TelecomOnly at PhonePe in-app recharges10 RP/₹100
TravelOnly at PhonePe in-app travel10 RP/₹100
Groceries5 RP/₹100
All 16 reward categories · 16 of 16 categories verified
| Category | Rate | Cap | Condition |
|---|---|---|---|
| Rent | Not eligible | — | Payments towards Rent / property management (MCC 6513) excluded from rewards (Section 12.7)Details
|
| Education | Not eligible | — | School & Educational Services (MCC 8211, 8241, 8244, 8249, 8299, 8220) excluded from rewards (Section 12.7)Details
|
| Insurance | 10 RP/₹100 | 500 RP per month | Only at PhonePe in-app insuranceDetails
|
| Utilities | 10 RP/₹100 | 1,500 RP per month | Only at PhonePe in-app bill payments & utilitiesDetails
|
| Fuel | Not eligible | — | Purchases at petrol pumps / service stations (MCC 5172, 5541, 5542, 5983) excluded from rewards (Section 12.7)Details
|
| Groceries | 5 RP/₹100 | 1,000 RP per month | 5 RP / ₹100 on eligible online grocery spends (cap 1,000 RP/mo)Details
|
| Dining | 5 RP/₹100 | 1,000 RP per month | 5 RP / ₹100 on online dining spends (cap 1,000 RP/mo)Details
|
| Food Delivery | 5 RP/₹100 | 1,000 RP per month | 5 RP / ₹100 on online food delivery spends (cap 1,000 RP/calendar month) (Section 12.2)Details
|
| Shopping | 5 RP/₹100 | 1,000 RP per month | 10 RP / ₹100 on eligible PhonePe in-app spends (cap 1,500 RP/mo)Details
|
| Travel | 5 RP/₹100 | 1,000 RP per month | 10 RP / ₹100 on Travel inside PhonePe app (cap 1,500 RP/mo)Details
|
| Government | Not eligible | — | Governmental Spends (MCC 9311, 9399) excluded from rewards (Section 12.7)Details
|
| Wallet | No reward | — | —Details
|
| Railways | 5 RP/₹100 | 1,000 RP per month | 5 RP / ₹100 on online railway bookings (cap 1,000 RP/mo)Details
|
| FASTag | Not eligible | — | Tolls and Bridges (MCC 4784) excluded from rewards (Section 12.7)Details
|
| Jewellery | Not eligible | — | Jewellery transactions (MCC 5094, 5944) excluded from rewards (Section 12.7)Details
|
| Telecom | 10 RP/₹100 | 1,500 RP per month | Only at PhonePe in-app rechargesDetails
|
“—” means not established. “Research pending” is not zero: it means DhanChakshu has not finished verifying that category, so it is not counted.
Cost & caps
What it costs to hold, and where rewards stop.
1st Year / Joining Fee
₹1,499 + taxes
Renewal Fee
₹1,499 + taxes
charged every year for PhonePe SBI Card SELECT BLACK
Fee waiver
₹3,00,000
annual spend
Reward caps
- Utilities — 1,500 RP / month (shared cap — Utilities)
- Insurance — 500 RP / month (per category — Insurance)
- Shopping — 1,000 RP / month (shared cap — Shopping)
- Shopping — 2,000 RP / month (shared cap — Shopping)
Spending thresholds
- Spend ₹3,00,000 per card year → annual fee waived
- Spend ₹5,00,000 per card year → PhonePe SBI Card SELECT BLACK Cardholders receive a Yatra Voucher worth ₹5,000 on reaching annual spend of ₹5 Lakh (Section 11)
Key benefits
Rewards
10 RP/₹100 on insurance (only at PhonePe in-app insurance)
Fuel surcharge waiver
1% fuel surcharge waiver on fuel transactions between ₹500 and ₹4,000
Foreign-currency markup
3.5% foreign-currency markup — Charged on every foreign-currency transaction (PhonePe SBI Card SELECT BLACK)
Milestone benefit
PhonePe SBI Card SELECT BLACK Cardholders receive a Yatra Voucher worth ₹5,000 on reaching annual spend of ₹5 Lakh (Section 11)
Fee waiver
Annual fee waived on ₹3,00,000 annual spend
Important to know
Limits and exclusions that change what you earn.
- Insurance reward (10 RP/₹100) applies only at PhonePe in-app insurance — not to all insurance spends
- Utilities reward (10 RP/₹100) applies only at PhonePe in-app bill payments & utilities — not to all utilities spends
- Telecom reward (10 RP/₹100) applies only at PhonePe in-app recharges — not to all telecom spends
- Utilities rewards are capped at 1,500 RP / month (shared cap — Utilities)
- Insurance rewards are capped at 500 RP / month (per category — Insurance)
- No reward on: Wallet
Who should consider this card
✓ Good fit if
- Your spending is concentrated in insurance, utilities, telecom
- You regularly spend only at PhonePe in-app insurance
- You can reach the ₹3,00,000 annual spend that waives the fee
△ Less useful if
- Much of your spending is in rent, education, fuel, which earn nothing
- Your spending is not only at PhonePe in-app insurance
- You cannot reach the fee-waiver spend and would pay the annual fee
Full details
Everything else, expanded on demand.
Caps & exclusions · 4 caps · 7 no-reward categories
Caps
- Utilities — 1,500 RP / month (shared cap — Utilities)
- Insurance — 500 RP / month (per category — Insurance)
- Shopping — 1,000 RP / month (shared cap — Shopping)
- Shopping — 2,000 RP / month (shared cap — Shopping)
Categories with no reward or not eligible
- Rent — Not eligible. Payments towards Rent / property management (MCC 6513) excluded from rewards (Section 12.7).
- Education — Not eligible. School & Educational Services (MCC 8211, 8241, 8244, 8249, 8299, 8220) excluded from rewards (Section 12.7).
- Fuel — Not eligible. Purchases at petrol pumps / service stations (MCC 5172, 5541, 5542, 5983) excluded from rewards (Section 12.7).
- Government — Not eligible. Governmental Spends (MCC 9311, 9399) excluded from rewards (Section 12.7).
- Wallet — No reward.
- FASTag — Not eligible. Tolls and Bridges (MCC 4784) excluded from rewards (Section 12.7).
- Jewellery — Not eligible. Jewellery transactions (MCC 5094, 5944) excluded from rewards (Section 12.7).
Milestones · 2 recorded
- Spend ₹3,00,000 per card year → benefit worth ₹1,499 — Annual fee waiver: the renewal fee is waived on annual spends of Rs.3 Lakh or more in the preceding year. Source: SBI Cards - Most Important Terms & Conditions, Section 1.A Annual Fees & Renewal Fees (fee table, pages 1-11).
- Spend ₹5,00,000 per card year → benefit worth ₹5,000 — PhonePe SBI Card SELECT BLACK Cardholders receive a Yatra Voucher worth ₹5,000 on reaching annual spend of ₹5 Lakh (Section 11). Valid for flights, hotels, holidays on Yatra.
Eligibility
Subject to SBI's underwriting and eligibility criteria. See the issuer's terms for current requirements.
Specifications
- Payment network: RuPay / Visa / Mastercard / American Express
- Airport lounge: Not recorded by DhanChakshu — check the issuer terms
- Fuel surcharge waiver: 1% fuel surcharge waiver on fuel transactions between ₹500 and ₹4,000; maximum waiver ₹250 per billing statement (FAQ 13).
- Foreign-currency markup: 3.5% foreign-currency markup — Charged on every foreign-currency transaction (PhonePe SBI Card SELECT BLACK). The exchange rate is determined by the network (VISA/Mastercard etc.) on the date the transaction is settled with SBI Card.
Other fees and charges
- Renewal fee ₹1,499 plus applicable taxes, charged every year for PhonePe SBI Card SELECT BLACK
- Over-limit fee: 2.5% of the amount above the credit limit or ₹600, whichever is higher, charged once per billing cycle
- Payment dishonour fee: 2% of the payment amount, subject to a minimum of ₹500
- Cheque payment fee ₹200
- Card replacement fee between ₹100 and ₹250 depending on the card variant
What DhanChakshu couldn't fully verify · 1 area
1 area needs further verification. None of these are counted as zero.
- • Lounge benefit — not recorded; check the issuer terms
Sources & verification
Verification & sources · last checked 2026-10-11
Verification coverage: All 16 categories verified
Card record last checked: 2026-10-11
Documents used
PhonePe SBI Card SELECT BLACK - FAQ & Cardholder Terms Booklet · SBI-PHONEPE-BLACK-TNC-2026 · 2026-10-11
SBI MITC · SBI MITC
SBI Cards - Most Important Terms & Conditions · SBI-MITC-UPLOAD-2026-10 · 2026-10-08