SBI Aurum Credit Card: Benefits, Features and Fees & Charges

Do you want a SBI credit card with numerous advantages and several functions that other credit cards do not have? If what you are looking for is excitement and world-class service, then the SBI Aurum Credit Card might just be for you. Experience the unrivalled glamour and Privileges of an SBI Aurum Credit Card exclusively designed for the selected few with direct access to all the curated privileges. 

This exclusive metal card is aimed at the most affluent income earners who earn at least Rs. 40 lakhs per annum so as to provide high-end services and benefits to its clients who can afford this card. This SBI Aurum Credit Card delivers quite a unique experience starting right from being able to earn reward points much faster, being able to travel and even availing concierge services.

The SBI Aurum credit card comes with elegance, convenience and rewards tailored for those who want it all. But is it worth the investment, and for whom? What makes it unique when compared with other credit cards that are present in the market today? To assist you in making the right decision, in this article, we will explain every aspect of the SBI Aurum Credit card and tell you whether you should opt for it or not.

Feed and Charges

Joining Fee:	₹10,000 + GST
Renewal Fee:	₹10,000 + GST (waived on annual spend of ₹12 lakhs)
Interest Rate:	3.50% per month (42% per annum)
Cash Advance Fee:	2.5% of transaction amount (minimum ₹500)
Foreign Transaction Fee:	3.5% of the transaction amount
Late Payment Fee:	➡ ₹0 for amount due up to ₹500 ➡ ₹400 for amount due between ₹501-₹1,000 ➡ ₹750 for amount due between ₹1,001-₹10,000 ➡ ₹950 for the amount due above ₹10,000

SBI Aurum Credit Card Product Details

• 4 points per ₹100 spent domestically; 20 points per ₹100 on international spends.
• 8 domestic lounge visits and 6 international lounge visits annually.
• Travel insurance up to ₹1 crore; air accident cover up to ₹4 crore.
• Discounts on dining and access to exclusive events.
• 3.50% per month (42% per annum) with a foreign transaction fee of 3.5%.
• 40,000 reward points on joining.
• Complimentary golf sessions and 24/7 concierge service.
• 2.5% of transaction amount (minimum ₹500).

Rewards and Benefits

Reward Points:	➡ 4 reward points per ₹100 spent. ➡ 20 reward points per ₹100 spent on international transactions.
Travel Benefits:	➡ 8 complimentary domestic lounge visits per year. ➡ 6 international lounge visits annually via Priority Pass.
Lifestyle Benefits:	➡ Discounts on dining through the Culinary Treats program. ➡ Access to exclusive events and experiences.
Insurance Coverage:	➡ Travel insurance up to ₹1 crore. ➡ Air accident cover up to ₹4 crore.
Additional Perks:	➡ Complimentary golf sessions. ➡ 24/7 concierge service for travel and entertainment assistance.

SBI Aurum Credit Card Pros and Cons

Pros	Cons
High reward points: Earn 4 points per ₹100 spent domestically and 20 points per ₹100 on international transactions.	High fees: Joining fee of ₹10,000 + GST and renewal fee of ₹10,000 + GST, waived on spending ₹12 lakhs annually.
Extensive travel benefits: Includes 8 domestic and 6 international airport lounge visits annually.	High interest rate: 3.50% per month (42% per annum).
Comprehensive insurance coverage: Up to ₹1 crore for travel and ₹4 crore for air accidents.	Foreign transaction fee: 3.5% of the transaction amount.
Lifestyle perks: Discounts on dining and access to exclusive events.
Welcome benefits: 40,000 reward points on joining and Priority Pass membership.

SBI Aurum Credit Card Benefits and Features

The SBI Aurum Credit Card delivers extensive rewards and privileges, ideal for affluent individuals seeking travel perks, lifestyle benefits, and insurance coverage.

Welcome Benefits:	➡ Receive 40,000 reward points upon joining. ➡ Enjoy complimentary Priority Pass membership for access to over 1,000 airport lounges worldwide.
Golf Benefits:	Access to 16 complimentary golf sessions at select courses across major cities in India.
Monthly Spends Benefits:	➡ Earn 4 reward points per ₹100 spent domestically. ➡ Earn 20 reward points per ₹100 on international transactions.
Yearly Spends Benefits:	Annual renewal fee of ₹10,000 + GST waived on spending ₹12 lakhs across all categories.
Travel Benefits:	➡ Up to ₹1 crore in travel insurance coverage for domestic and international trips. ➡ ₹4 crore air accident insurance cover.
Airport Lounge Access:	Enjoy 8 complimentary domestic lounge visits and 6 international lounge visits annually through the Priority Pass program.
Movie Benefits:	Discounts on movie ticket bookings at major cinema chains across India.
Insurance Benefits:	➡ Coverage up to ₹1 crore for medical emergencies, trip cancellations, and delays. ➡ ₹4 crore coverage in the event of accidental death or permanent disability while travelling by air. ➡ Insurance against theft or damage to purchased items, typically covering transactions made using a credit card.

SBI Aurum Card Rewards

The SBI Aurum Credit Card offers lucrative rewards tailored to enhance the lifestyle and spending habits of its users:

Reward Points Accumulation:

• Earn 4 reward points for every ₹100 spent on domestic transactions.
• Earn 20 reward points for every ₹100 spent on international transactions.

Welcome Benefits:

• Receive 40,000 bonus reward points upon card activation.

Travel Benefits:

• Redeem points for flight tickets, hotel bookings, and other travel expenses.
• Enjoy exclusive discounts and offers on travel bookings through partner platforms.

Reward Points Redemption:

• Options: Redeem points for flights, hotels, merchandise, gift vouchers, and cashback.
• Conversion: Typically, 1 reward point equals ₹0.25 to ₹0.50 when redeemed.
• Flexibility: Easy online redemption through the SBI Card website or mobile app.
• Validity: Points are typically valid for 3 to 5 years from the date of accumulation.
• Special Offers: Enjoy bonus points and discounts on redemption during promotional periods.

SBI Aurum Card Fees and Charges

• Cardholders can enjoy a waiver of the renewal fee if they achieve an annual spending of ₹12 lakhs on their SBI Aurum Credit Card. This waiver incentivises higher spending and rewards regular card usage.
• The SBI Aurum Credit Card charges an interest rate of 3.50% per month on revolving balances, which amounts to 42% per annum.
• When withdrawing cash using the SBI Aurum Credit Card, a cash advance fee of 2.5% of the transaction amount or a minimum of ₹500 is applicable. This fee is charged to cover the administrative costs associated with cash transactions.
• For transactions made in a foreign currency using the SBI Aurum Credit Card, a fee of 3.5% of the transaction amount is levied. This fee ensures that cardholders can conduct international transactions conveniently while covering currency conversion costs.
• Late payment charges on the SBI Aurum Credit Card vary based on the outstanding balance. Charges start from ₹0 for amounts due up to ₹500 and can go up to ₹950 for amounts exceeding ₹10,000.
• If the cardholder exceeds their approved credit limit, overlimit charges of 2.5% of the overlimit amount or a minimum of ₹500 are applied.
• In case of loss or theft, a card replacement fee of ₹100 is charged for issuing a new SBI Aurum Credit Card.
• Requesting statements older than the last three months incurs a fee of ₹100 per statement.

Travel Benefits Available on SBI Aurum Credit Card

The SBI Aurum Credit Card offers a range of travel benefits designed to enhance the travel experience for its cardholders:

1. Airport Lounge Access:
   • Enjoy 8 complimentary visits to domestic airport lounges per year through the Priority Pass program.
   • Access 6 international airport lounges annually, providing a comfortable and relaxing environment before flights.
2. Travel Insurance Coverage:
   • Benefit from comprehensive travel insurance coverage of up to ₹1 crore, including medical emergencies, trip cancellations, and baggage loss.
   • Receive ₹4 crore in air accident insurance cover, providing financial protection in unforeseen circumstances during air travel.
3. Foreign Exchange Services:
   • Enjoy competitive foreign currency exchange rates and reduced fees on currency conversion for international transactions.
   • Access currency exchange services through SBI’s global network, ensuring convenience and reliability abroad.
4. Car Rental Discounts:
   • Receive discounts and special offers on car rentals worldwide, facilitating convenient transportation arrangements during travel.
   • Earn reward points on car rental expenditures, adding value to travel-related expenses beyond flights and accommodations.
5. Travel Assistance Services:
   • Access 24/7 concierge services for travel planning, itinerary assistance, and emergency support while abroad.
   • Receive personalised assistance for travel-related inquiries and reservations, enhancing the overall travel experience.

SBI Aurum Credit Card: Terms and Conditions

• A joining fee of ₹10,000 plus GST is applicable at the time of card issuance. An annual renewal fee of ₹10,000 plus GST is charged, which can be waived if the cardholder spends ₹12 lakhs annually.
• The card carries an interest rate of 3.50% per month, translating to 42% per annum, on revolving balances.
• Cardholders earn 4 reward points for every ₹100 spent domestically and 20 points for every ₹100 spent internationally.
• Points can be redeemed for flights, hotels, merchandise, and other rewards at a conversion rate typically ranging from ₹0.25 to ₹0.50 per point.
• Provides travel insurance up to ₹1 crore, covering medical emergencies, trip cancellations, and baggage loss. Offers air accident insurance up to ₹4 crore, safeguarding against unforeseen events during air travel.
• Charges a foreign currency transaction fee of 3.5% of the transaction amount, ensuring seamless international transactions.
• Late payment fees vary based on the due amount, ranging from ₹0 to ₹950, depending on the outstanding balance. Overlimit charges amount to 2.5% of the overlimit amount, with a minimum charge of ₹500, to manage credit utilisation risks.

Who Can Apply for the SBI Aurum Credit Card?

The SBI Aurum Credit Card is designed for individuals who meet specific eligibility criteria aimed at high-net-worth individuals and frequent travellers seeking premium benefits and privileges. Here’s a detailed overview of who can apply:

The SBI Aurum Credit Card is tailored for individuals who meet specific criteria indicative of high net worth and financial stability:

• Income Requirement: Typically requires a minimum annual income of ₹15 lakhs or higher.
• Creditworthiness: Applicants should have a robust credit score of 750 or above, reflecting strong credit management skills.
• Age: Generally targets individuals aged between 25 to 65 years.
• Residency: Applicants must be resident Indians with a valid residential address in India.
• Employment: Preferred applicants include salaried professionals with stable employment or self-employed individuals with demonstrable income.
• Relationship with SBI: Existing SBI customers with a positive banking history may receive preferential consideration.
• Financial Capability: Applicants should demonstrate the ability to manage an annual fee of ₹10,000 + GST and potentially higher spending thresholds to qualify for fee waivers and additional benefits.

Documentation Needed for SBI Aurum Credit Card

When applying for the prestigious SBI Aurum Credit Card, certain documents are essential to validate your identity, address, and financial eligibility. These documents ensure a smooth application process and verify your qualifications for accessing the exclusive benefits and privileges offered by the card. Here’s a detailed list of the required documentation to facilitate your application:

• Identity Proof: Valid Passport, Aadhaar Card, Voter ID, or PAN Card showing the applicant’s full name and photograph.
• Address Proof: Recent Utility Bill (electricity, telephone, water, gas), Aadhaar Card, Passport, or Rent Agreement with the applicant’s current address, not older than 3 months.
• Income Proof: For salaried individuals, recent Salary Slips (last 3 months) or Form 16 issued by the employer. For self-employed individuals, Income Tax Returns (ITR) for the last 2 years, along with audited financial statements.
• Photographs: Two passport-sized photographs of the applicant.
• Application Form: Complete and signed application form provided by SBI, accurately filled with all required details.

Application Process for SBI Aurum Credit Card

1. Online Application: Visit the SBI Card website, navigate to the SBI Aurum Credit Card page, and click “Apply Now.”
2. Fill Application Form: Complete the online application form with personal, financial, and employment details.
3. Submit Documents: Upload necessary documents such as income proof, identity proof, and address proof.
4. Verification Process: Wait for SBI to verify your details. This may include a telephonic or in-person verification.
5. Approval and Delivery: Upon approval, receive your SBI Aurum Credit Card via courier within 7-10 business days.

FAQs