Bank of Maharashtra SimplySAVE SBI Card vs LIC Select Credit Card: Which Credit Card Wins in 2026?

Quick Verdict

• For everyday spend, the LIC Select Credit Card ⓘ offers a significantly better base reward rate, making it the superior choice for general purchases.
• When it comes to travel and lounge access, the LIC Select Credit Card ⓘ also wins with complimentary domestic and international lounge visits, unlike the Bank of Maharashtra SimplySAVE SBI Card ⓘ.
• The LIC Select Credit Card ⓘ is cheaper to hold, with no joining or annual fees, compared to the Bank of Maharashtra SimplySAVE SBI Card ⓘ which charges Rs 499 for both.
• Choose the Bank of Maharashtra SimplySAVE SBI Card ⓘ if you primarily spend on dining and groceries and want decent rewards there; opt for the LIC Select Credit Card ⓘ if you want a no-fee card with good rewards and lounge benefits.

Side by Side

Rewards Compared

The Bank of Maharashtra SimplySAVE SBI Card ⓘ yields Rs 17 in rewards per Rs 10,000 spent on base category purchases. However, if you spend in dining or grocery categories, the reward rate rises sharply to Rs 167 per Rs 10,000, reflecting a category rate of 1.67%. This makes it attractive for those who focus their spend on these areas but less rewarding for general spend.

On the other hand, the LIC Select Credit Card ⓘ offers a consistent base reward rate of Rs 75 per Rs 10,000 spent. There is no mention of higher category rates, so it is best for straightforward, broad-based use with better returns than the SimplySAVE card’s base rate. This makes it a solid all-rounder for rewards on everyday spending outside of specific categories.

Fees Compared

The Bank of Maharashtra SimplySAVE SBI Card ⓘ carries both a joining fee and an annual fee of Rs 499 each. There are no fee waivers based on spend, so these fees are unavoidable. The break-even spend to cover the annual fee at the base reward rate is about Rs 2.94 lakh annually, which is quite high.

Conversely, the LIC Select Credit Card ⓘ is completely free for life with no joining or renewal fees. This means there is no spending requirement to avoid fees, making it cost-effective from day one. The lack of fees combined with higher base rewards makes it more economical for most users.

Which One Should You Pick

The Bank of Maharashtra SimplySAVE SBI Card ⓘ suits users who have heavy dining and grocery spends and want to maximize rewards in those categories. However, since it charges fees and has no lounges or forex benefits, it is less suitable if you want a no-fee card or travel perks.

The LIC Select Credit Card ⓘ is ideal for lifetime-free card seekers who want solid rewards on general spend plus the added value of domestic and international lounge access and lower forex charges. It is the better pick for travelers and those looking for a card with no cost and consistent returns.

In a decisive call, the LIC Select Credit Card ⓘ wins as the more versatile and economical option for most users, especially those who want travel benefits. The SimplySAVE card ⓘ should be skipped by anyone unwilling to pay fees or who does not spend heavily on dining and groceries.

What to Check Before You Apply

• Confirm the monthly spend requirements for lounge access on the LIC Select Credit Card ⓘ, which is Rs 20,000 per month for both domestic and international lounges.
• Check if there are any caps on the maximum rewards you can earn in dining or grocery categories on the SimplySAVE card ⓘ.
• Ensure you understand the fee waiver maths on the SimplySAVE card ⓘ, as no waiver is available and fees apply every year.
• Be aware of the forex markup charges: 3.5% on SimplySAVE card ⓘ vs 1.5% on LIC Select Credit Card ⓘ, which affects overseas spend costs.
• Verify which airport lounges are accessible with the LIC Select Credit Card ⓘ to confirm they are convenient for your travel routes.

FAQ