What’s the minimum income required for the SBI Elite Credit Card? How strict is SBI with approvals, and does credit score matter?
The SBI Elite Credit Card is considered a premium offering, so it comes with a relatively high income requirement. If you’re a salaried individual, you need a minimum monthly income of INR 60,000. For self-employed applicants, the required annual income is around INR 7.5 lakhs per year as per ITR filings. This makes it more exclusive than entry-level and mid-range cards like SBI SimplyCLICK or HDFC Regalia, but not as difficult to get as super-premium cards like HDFC Infinia or Axis Reserve.
I applied for this card when my income was slightly above the requirement, and even then, SBI asked for additional documents like salary slips, Form 16, and bank statements. Unlike private banks like HDFC or Axis, which sometimes approve cards instantly based on existing relationships, SBI takes a more traditional approach, verifying documents thoroughly before approval.
Even if you meet the income criteria, a strong credit score (750+) helps in getting a higher credit limit. I’ve seen cases where people earning well above the minimum requirement got a lower-than-expected credit limit because they already had multiple cards with high limits. SBI tends to be a bit conservative with initial limits, though they do increase it over time based on spending patterns.
Another thing to keep in mind is the approval timeline. SBI isn’t the fastest when it comes to processing applications. In my case, it took around 7–10 days, while some applicants report waiting even longer, especially if additional verification is needed. If you’re looking for a card that’s easier to get approved quickly, SBI Prime or HDFC Regalia might be more accessible alternatives.
Overall, the income requirement isn’t unreasonably high, but SBI is a bit more cautious with approvals, especially if you don’t have an existing relationship with them. If your income is just around the minimum, it might be worth considering other premium cards that offer easier approvals and better reward structures.