BOM SBI Card ELITE Review: Fees, Rewards and How to Apply
At a Glance
| Joining Fee | ₹4,999 + GST (₹5,899 all-in) |
| Annual Fee | ₹4,999 + GST. Annual fee reversed on annual spends of ₹10,00,000 |
| Best Suited For | High spenders clearing ₹5 lakh a year who want milestone rewards and lounge access |
| Issued through | Bank of Maharashtra branches, not online |
This is the SBI Card ELITE issued in partnership with Bank of Maharashtra. The product itself is SBI’s, and the fees, reward rates and benefits are identical to the ELITE cards distributed by SBI’s other partner banks.
What changes is the route in: Bank of Maharashtra is a public sector bank headquartered in Pune with its deepest branch network across Maharashtra, and the card is available through its branches rather than online.
That makes it a card for Bank of Maharashtra account holders, particularly across Maharashtra rather than something you can compare and apply for on a website. Everything below is taken from SBI Card’s own published record for this card.
Rewards & Benefits
Reward rate and earn structure
| Spend category | Earn rate | Cap |
|---|---|---|
| Dining, departmental stores and grocery | 5X Reward Points | None published |
| International transactions | 2 Reward Points per ₹100 | None published |
| All other spends, except fuel | 2 Reward Points per ₹100 | None published |
Redemption and what a point is worth
Four Reward Points equal ₹1, so general spending returns 0.5% and the accelerated categories rather more.
The real earning on this card is not the base rate at all, it is the milestone ladder: up to 50,000 bonus Reward Points a year, worth ₹12,500. Points pay down your card outstanding at the same 4 to ₹1 rate, which is the most reliable way to use them.
Welcome and milestone benefits
| Benefit | Requirement |
|---|---|
| Welcome e-gift voucher worth ₹5,000 | Payment of the annual fee |
| 10,000 bonus Reward Points, worth ₹2,500 | ₹3,00,000 annual spend |
| 10,000 bonus Reward Points, worth ₹2,500 | ₹4,00,000 annual spend |
| 15,000 bonus Reward Points, worth ₹3,750 | ₹5,00,000 annual spend |
| 15,000 bonus Reward Points, worth ₹3,750 | ₹8,00,000 annual spend |
The milestones are cumulative, so a cardholder reaching ₹8 lakh collects all four awards, totalling 50,000 points worth ₹12,500.
Add the ₹5,000 welcome voucher and ₹6,000 of free movie tickets a year, and the benefits comfortably exceed the ₹5,899 fee for anyone spending at that level. Movie tickets are valid on primary cards only.
Lounge access
| Lounge type | Allowance | Limit |
|---|---|---|
| Domestic | 2 every quarter, so 8 a year | 2 per quarter |
| International | 6 per calendar year | 2 per quarter |
International access runs through Priority Pass across more than 1,000 lounges worldwide. The card also carries a 24×7 concierge service reachable on 1800-2121-68168.
| Free movie tickets | Worth ₹6,000 every year, primary cards only |
| Concierge | 24×7, on 1800-2121-68168 |
Fees & Charges
| Joining fee | ₹4,999 + GST |
| All-in first year cost | ₹5,899 |
| Renewal fee, per annum | ₹4,999 + GST from the second year |
| Spend based reversal | Annual fee reversed on annual spends of ₹10,00,000 |
| Add-on card fee, per annum | Nil |
| Fuel surcharge waiver | 1% on ₹500 to ₹4,000, max ₹250 per statement cycle |
GST of 18% applies on top of the stated fee, which is why the real first year cost is ₹5,899 rather than ₹4,999.
Reaching the reversal threshold removes the fee entirely, so work out whether your ordinary annual spending clears it before treating the fee as a real cost.
SBI also notes that this is a co-branded product and that fee and revenue sharing may exist between SBI Card and Bank of Maharashtra.
The thing that catches people out is the fee reversal threshold. At ₹10 lakh it is the highest in this range and far beyond most cardholders, so treat the ₹5,899 as a fixed annual cost rather than something you will spend your way out of.
The card is worth holding because the milestones and vouchers exceed that cost, not because the fee disappears.
Eligibility & Documents Required
SBI does not publish an income floor, age band or credit score cut-off for this card. It is not offered for online application: SBI’s own page directs applicants to visit their nearest Bank of Maharashtra branch. In practice that means a Bank of Maharashtra relationship is the realistic route in.
Keep ready your PAN, proof of identity, proof of current address, and either recent salary slips or the last two years of income tax returns if you are self-employed. Approval and the credit limit are decided by SBI Card on your income and credit profile.
Pros & Cons
| Pros | Cons |
|---|---|
| Up to 50,000 bonus points a year, worth ₹12,500 | Fee reversal needs ₹10 lakh of annual spend |
| ₹6,000 of free movie tickets every year | ₹5,899 a year is a real fixed cost |
| 8 domestic and 6 international lounge visits | Base rate of 0.5% is ordinary |
| ₹5,000 welcome voucher across five brands | Not available for online application |
BOM SBI Card ELITE vs Competitors
| Card | Annual fee | Key difference |
|---|---|---|
| BOM SBI Card ELITE | ₹4,999 | Issued through Bank of Maharashtra branches |
| SBI Card PULSE | Charged annually | Available directly from SBI Card, online |
| SBI SimplySAVE | Charged annually | SBI’s own entry card, no partner bank needed |
The comparison that matters is not against SBI’s other partner banks, since those cards are identical to this one.
It is against the cards SBI issues directly, which you can apply for online and compare openly. Take this version only if you already bank with Bank of Maharashtra and find the branch route convenient.
How to Apply
SBI Card’s own page for this card answers the application question plainly: visit your nearest Bank of Maharashtra branch.
There is no online application route, so the button on this page opens the product page for reference rather than an application form.
Speak to your Bank of Maharashtra relationship manager or branch staff, and have your identity, address and income documents with you. If you would rather apply online, look at the equivalent card issued directly by SBI Card instead.
Frequently Asked Questions
Is the BOM SBI Card ELITE annual fee waived?
Annual fee reversed on annual spends of ₹10,00,000. The fee is ₹4,999 + GST, which is ₹5,899 all in.
How do I apply for this card?
Through a Bank of Maharashtra branch. SBI Card does not offer this product for online application, and its own page directs applicants to the nearest Bank of Maharashtra branch.
Is this card different from the same SBI card offered by other banks?
No. The fees, reward rates, caps and benefits are identical across every partner bank version of the SBI Card ELITE. Only the issuing branch network and the card face differ.
What is a Reward Point worth on this card?
Four Reward Points equal ₹1. The most dependable redemption is against your own card outstanding, which holds that rate.
Does this card give airport lounge access?
Yes. 2 every quarter, so 8 a year domestic, and 6 per calendar year on the international side.
What is the fuel surcharge waiver?
A 1% waiver, on transactions of ₹500 to ₹4,000, capped at ₹250 per statement cycle.
Bottom Line
For someone genuinely spending ₹5 lakh a year or more, this is good value. The milestone ladder alone returns ₹12,500 at ₹8 lakh, the movie tickets are worth ₹6,000, and fourteen lounge visits a year is among the most generous allowances in the SBI range.
If you already bank with Bank of Maharashtra, the branch route is straightforward and the card is worth having on those terms.
Do not take it if you spend under ₹3 lakh a year. The first milestone sits at ₹3 lakh, so below that you receive the welcome voucher and little else against a ₹5,899 fee that will never be reversed.
The PRIME version costs ₹2,360 less and waives its fee at ₹3 lakh. And remember what this card is: an SBI product with a partner bank’s name on it. If you do not already have a Bank of Maharashtra relationship, there is no reason to open one for this card, because SBI issues the identical product directly and you can apply for that online in minutes.
