PhonePe SBI Card SELECT BLACK

5 points/₹100 eligible online and 1 point/₹100 ordinary retail, each worth ₹1.

How this estimate works

PhonePe SBI Card SELECT BLACK earns 10 points per ₹100 only on eligible PhonePe-app categories, 5 points per ₹100 on other eligible online transactions and 1 point per ₹100 on ordinary eligible retail. The calculator has no PhonePe-specific payment chip, so it shows only the 5-point online and 1-point ordinary routes; it does not assign 10 points to generic online purchases. Issuer reward terms show 1,000 points/calendar month for eligible online, 1,500 for eligible PhonePe noninsurance and 500 for PhonePe insurance, plus a separate 2,000-point other-spend pool. The July 2026 issuer notice reduced earlier caps; this model uses the new ones. PhonePe, the issuer’s card partner, says 1 point=₹1 as statement credit; this is not the ₹0.25 value of other SBI cards. Card-specific reward terms say no fee on redemption, while general SBI fee terms mention ₹99+tax for statement credit, so verify before redeeming. The general April 2026 4,000-point statement-credit block and 60,000-point cap expressly exempt PhonePe SELECT BLACK, and no substitute block is assumed without a card-specific rule. ₹1,499+estimated GST annual fee is deducted; welcome ₹1,500 PhonePe voucher and conditional prior-year ₹3 lakh renewal waiver omitted. Fuel, rent, wallet, government, gaming, education, non-PhonePe utilities/insurance and non-PhonePe UPI are excluded or unverified. Merchant coding and transaction posting matter.

Issuer terms

Issuer card-specific rewards · Issuer July 2026 cap changes · Issuer partner point value · Issuer fee schedule · General issuer redemption rules

Terms checked 29 September 2026. PhonePe-app accelerator is not assigned to generic online spend. Verify conflicting redemption-fee language before cashing points.