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Key Takeways
The SBI PhonePe Select Black Credit Card earns 10% reward points on eligible PhonePe spends (recharges, bill payments, utilities, insurance, travel), 5% on other online spends, and 1% on everything else. The joining and annual fee is ₹1,499 + GST, reversed when you spend ₹3 lakh or more in the previous year. You also get a ₹1,500 PhonePe gift card on joining, 4 complimentary domestic lounge visits per year, and Priority Pass membership. Best suited for heavy PhonePe users who pay bills, insurance, and recharges digitally.
Launched in July 2025 as part of a strategic partnership between SBI Card and PhonePe, the PhonePe SBI Card SELECT BLACK quickly became one of the most talked-about co-branded credit cards in India. This is not a premium travel card or a lifestyle card - it is built for the everyday Indian digital spender who lives on the PhonePe app. Here is everything you need to know before applying.
What Is the SBI PhonePe Select Black Credit Card?
The PhonePe SBI Card SELECT BLACK is a co-branded credit card issued by SBI Card in partnership with PhonePe - one of India's largest digital payments platforms. It is the premium variant of the PhonePe-SBI Card lineup, with its entry-level sibling being the PhonePe SBI Card PURPLE.
The card is available on both RuPay and Visa payment networks, giving cardholders the flexibility to choose the network that best suits their needs. It works as a standard credit card and can also be linked for UPI-based Credit on UPI transactions (RuPay variant).
Who is it for? If you regularly use PhonePe for mobile recharges, electricity bills, OTT subscriptions, insurance premiums, flight bookings, or grocery orders via PINCODE, this card is built directly for you. Categories that most credit cards ignore - utility bills, recharges, insurance - earn the highest reward rate here.
SBI PhonePe Select Black Credit Card: Fees and Charges
| Fee Type | Amount |
|---|---|
| Joining Fee | ₹1,499 + GST |
| Annual Fee (Year 2 onwards) | ₹1,499 + GST |
| Annual Fee Waiver | Reversed on ₹3 lakh+ spends in previous membership year |
| Welcome Benefit | ₹1,500 PhonePe gift card (on joining fee payment) |
| Foreign Currency Transaction Fee | 3.5% of transaction amount |
| Finance Charges | Up to 3.75% per month (45% p.a.) |
| Fuel Surcharge Waiver | 1% on ₹500–₹4,000 txns; max ₹250/cycle |
| Add-on Cards | Up to 3 (for spouse, parents, children/siblings 18+) |
Net effective joining fee: The ₹1,500 welcome gift card received after joining fee payment means your first-year cost is essentially ₹0 if you spend the voucher on PhonePe - which is very easy to do.
Annual fee math: ₹3 lakh annually is ₹25,000 per month in card spends. For most working professionals using this as their primary card, this is a realistic threshold. If you miss it, you pay ₹1,499 - which you'd recover in roughly ₹15,000 of utility bill payments at 10% rewards.
Rewards and Cashback: How the 10% Works
This is the headline feature and it's worth understanding precisely.
| Spend Category | Reward Rate | Monthly Cap |
|---|---|---|
| PhonePe spends: recharges, bill payments, utilities, insurance, travel, PINCODE orders | 10 RP per ₹100 (10%) | 2,000 RPs/month |
| Online spends on other platforms | 5 RP per ₹100 (5%) | 2,000 RPs/month |
| Offline & Scan and Pay transactions | 1 RP per ₹100 (1%) | 2,000 RPs/month |
| Utility/insurance outside PhonePe (online) | 1 RP per ₹100 (1%) | 500 RPs/month |
Reward Redemption: 1 Reward Point = ₹1. Points can be redeemed for a wide range of vouchers or as cash credit. This is a best-in-class redemption rate - no dilution, no complex conversion.
Important: The 10% rewards apply specifically to spends made through the PhonePe app. This includes recharges, utility bill payments, insurance premiums, flight and hotel bookings on PhonePe, and orders placed on PINCODE - PhonePe's grocery and local commerce platform.
Real-world example: If you pay ₹5,000 in electricity bills, ₹2,000 in insurance, and ₹3,000 in mobile recharges monthly via PhonePe - that is ₹10,000 at 10% = 1,000 reward points = ₹1,000 cash value per month. Annual savings: ₹12,000 just from these categories.
Benefits and Features
1. Airport Lounge Access
- 4 complimentary domestic airport lounge visits per year (1 per quarter)
- Complimentary Priority Pass membership worth $99 (approximately ₹8,000) for the first 2 years
- Priority Pass provides access to international airport lounges - note: the membership is complimentary but per-visit charges at international lounges may apply separately
2. Milestone Benefits
- ₹5,000 Yatra travel voucher on reaching ₹5 lakh in annual spends
- Annual fee reversal on ₹3 lakh annual spends (see Fees section)
3. Fuel Benefits
- 1% fuel surcharge waiver on transactions between ₹500 and ₹4,000
- Maximum waiver: ₹250 per statement cycle
4. Network Flexibility
- Available on both RuPay and Visa
- RuPay variant enables Credit on UPI - use your credit card balance via UPI QR codes
5. Contactless Payments
- Tap-to-pay enabled for quick transactions at POS terminals
Latest News: First-Year Free Offer (April–June 2026)
In a significant limited-time move, SBI Card waived the joining fee on both the PhonePe SBI Purple and PhonePe SBI SELECT BLACK cards for applications made between 3rd April 2026 and 2nd June 2026. This means the SELECT BLACK - normally priced at ₹1,499 - was available at zero joining cost during this window.
If you applied during this period, you effectively received a card with:
- ₹0 joining fee
- ₹1,500 PhonePe welcome gift card
- Net gain of ₹1,500 in your first year
The waiver window has now closed (as of 2nd June 2026). The standard ₹1,499 joining fee applies for new applications. The card remains available through the PhonePe app via a seamless digital KYC process.
