SBI Elite vs HDFC Regalia: Which Premium Card for ₹10-20L Income?

If you earn between ₹10-20 lakh and want a premium credit card, SBI Elite and HDFC Regalia are two solid options from India's largest banks. Here's how they compare.

Key Difference: SBI Elite focuses on movies, dining, and entertainment. HDFC Regalia is built around travel and SmartBuy rewards.

Quick Comparison

Feature	SBI Elite	HDFC Regalia
Annual Fee	₹4,999 + GST	₹2,500 + GST
Fee Waiver	₹10L spend	₹3L spend
Base Earn	2 RP/₹100	4 RP/₹150
Movie Benefits	Buy 1 Get 1 (₹6,000/year)	None
Dining	5% savings at partner restaurants	None
SmartBuy Equivalent	None	5X on SmartBuy
Lounge Access	6/quarter	8/quarter
Trident Privilege	Complimentary	None

Reward Programs

SBI Elite Rewards

Category	Earn Rate	Notes
Base spend	2 RP/₹100	Standard on all spend
Online spend	5 RP/₹100 on select	Limited categories
Dining	Standard	5% discount via SBI Dine

Point Value: ~₹0.25-0.30 per point

HDFC Regalia Rewards

Category	Earn Rate	Notes
Base spend	4 RP/₹150	~2.7% effective
SmartBuy	20 RP/₹150 (5X)	Flights, hotels, vouchers
Partner merchants	Varies	Select retail/dining

Point Value: ~₹0.30-0.50 per point

Movie Benefits (SBI Elite Exclusive)

SBI Elite's standout feature:

Benefit	Details
Buy 1 Get 1	On BookMyShow, INOX, PVR
Monthly Cap	₹500/month (₹6,000/year)
How It Works	Book 2 tickets, get 1 free

Real Value: If you watch 2 movies/month, this alone saves ₹6,000/year—more than the annual fee.

Dining Benefits

SBI Elite

• SBI Dine: 5% discount at partner restaurants
• 1000+ restaurants across India
• No cap on dining savings

HDFC Regalia

• Occasional dining offers via DineOut
• Less structured than SBI

Winner: SBI Elite for dining-focused users.

Lounge Access

Card	Domestic	International	Total/Year
SBI Elite	6/quarter	2/quarter	32
HDFC Regalia	8/quarter shared	8/quarter shared	32

Effectively similar. Both use Priority Pass and DreamFolks.

Travel Features

SBI Elite

• Trident Privilege membership (complimentary)
• Travel insurance
• No dedicated travel portal

HDFC Regalia

• SmartBuy 5X on flights and hotels
• Travel insurance
• Hotel transfer partners (Marriott, Hyatt)

Winner: Regalia for travel-focused users. SmartBuy multiplier is powerful.

Fee Analysis

Metric	SBI Elite	HDFC Regalia
Annual Fee	₹4,999 + GST (₹5,899)	₹2,500 + GST (₹2,950)
Fee Waiver Threshold	₹10 Lakh	₹3 Lakh
Effective Cost (if not waived)	₹5,899	₹2,950

Key Point: Regalia's fee waiver at ₹3L is very achievable. SBI Elite's ₹10L threshold is tough—most will pay the fee.

Break-Even Analysis

SBI Elite: When Is It Worth It?

• Annual fee: ₹5,899
• Movie benefit value: ₹6,000
• Already breaks even just on movies!

Add dining savings and the card is profitable for entertainment lovers.

HDFC Regalia: When Is It Worth It?

• Annual fee: ₹2,950
• With ₹3L SmartBuy spend: ~₹10,000 in rewards
• ROI: 3.4x the fee

Bank Ecosystem Considerations

SBI Ecosystem

• Huge branch network
• SBI YONO app
• Other SBI cards to upgrade to (none match Infinia level)
• Good for SBI salary account holders

HDFC Ecosystem

• Strong premium card ladder
• HDFC SmartBuy well-established
• Clear path to Regalia Gold → Infinia
• Better for credit card enthusiasts

For Long-Term Card Strategy: HDFC wins. The upgrade path is clearer.

Scenario-Based Recommendations

Scenario 1: Movie & Dining Enthusiast

• Watches 8+ movies/year
• Dines out weekly
• Doesn't travel much

Winner: SBI Elite

• B1G1 movies = ₹6,000+ saved
• Dining discounts add another ₹3-5,000
• Travel features less important

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Scenario 2: Regular Business Traveler

• 10+ flights/year
• Uses SmartBuy for bookings
• Values lounge access

Winner: HDFC Regalia

• 5X SmartBuy multiplier
• Hotel transfer partners
• Clear upgrade path to Infinia

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Scenario 3: SBI Salary Account Holder

• Salary in SBI
• Moderate spender (₹5-8L/year)
• Wants easy approval

Winner: SBI Elite

• Easier approval via salary relationship
• Pre-approved offers common
• No need to build new bank relationship

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Scenario 4: Credit Card Optimizer

• Wants best rewards per rupee
• Plans to upgrade to premium cards
• Heavy online spender

Winner: HDFC Regalia

• SmartBuy is more versatile
• Better rewards math
• Infinia is ultimate goal

Can You Hold Both?

Yes. They complement each other:

Use	Card
Movies & dining	SBI Elite
Travel & SmartBuy	HDFC Regalia
Everyday offline	Either

Combined fees: ~₹8,850/year

Worth it if: You max out movie benefits AND use SmartBuy heavily.

Application Tips

SBI Elite

• Easier if you have SBI salary account
• ₹12L+ income preferred
• Online application works well
• May get pre-approved offers via YONO

HDFC Regalia

• ₹12L+ income usually required
• HDFC relationship helps
• Start with Millennia if rejected, upgrade later
• Branch application often better than online

Summary Table

Criteria	Better Card
Lower annual fee	HDFC Regalia
Easier fee waiver	HDFC Regalia
Movie enthusiasts	SBI Elite
Frequent diners	SBI Elite
Travel rewards	HDFC Regalia
SmartBuy/portal shopping	HDFC Regalia
Upgrade path to ultra-premium	HDFC Regalia
SBI salary account holder	SBI Elite
Lounge access	Tie

Final Recommendation

If You...	Get
Love movies and dining	SBI Elite
Travel frequently	HDFC Regalia
Want lowest fees	HDFC Regalia
Bank with SBI	SBI Elite
Want path to Infinia	HDFC Regalia
Spend ₹10L+/year	SBI Elite (fee waiver possible)
Spend ₹3-8L/year	HDFC Regalia

Bottom Line: HDFC Regalia is the better all-rounder with lower fees and stronger travel rewards. SBI Elite is specifically great for entertainment lovers who can extract ₹10,000+ from movies and dining. Choose based on your lifestyle, not just the fee.