All about SBI Cashback Credit Card
SBI Credit Card is a leading credit card issuer in India that offers credit cards with multiple category benefits. SBI Simply Save, SBI Simply Click, Cashback SBI Card, SBI Card ELITE and BPCL SBI Card are some of the most popular SBI credit cards. The cashback SBI Credit card was launched in September 2022 and it became the best cashback card in India due to its “No Merchant Restriction”.
Though the card has been slightly devalued effective May 2023, it still offers the highest value back as compared to other cashback cards like Axis Ace and Flipkart Axis Credit Card.
Privileges of SBI Cashback Credit Card
Below mentioned are the privileges of the SBI Cashback Credit Card:
- Card Cashback:
- 5% Cashback on online* spends without any merchant restriction
- 1% Cashback on offline* spends
- *Cashback is not applicable on Merchant EMI & Flexipay EMI transactions and on the following categories: Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewellery, Railways, etc.
- Hassle-Free: Card Cashback will be auto-credited to your SBI Card account within two working days of your next statement generation. For details, please see Cardholders T&C
- Spend Based Reversal:
- Reversal of Renewal Fee on annual spends of Rs.2 Lakh
- Fuel Surcharge Waiver:
- 1% Fuel Surcharge Waiver across all petrol pumps in India*
- * Applicable on transactions of INR 500 – INR 3,000, exclusive of GST and other charges. Get a maximum surcharge waiver of INR 100 per statement cycle per credit card account
- Contactless Advantage
- Daily purchases are now made easy with CASHBACK SBI Card. Simply tap your card at a secure reader to transact
- Fast & convenient: No need to hand over your card or look for cash/coins for everyday small ticket purchases
- Security: The card never leaves your hand during a Contactless transaction, significantly reducing the risk of card loss and fraud due to skimming (counterfeit). Even if the card is tapped multiple times at the reader, the unique security key feature of VISA Pay Wave will ensure that only one transaction goes through, thus making it more secure
- Worldwide Acceptance
- Use Cashback SBI Card in over 24 million outlets across the globe, including 3,25,000 outlets in India
- Use your card to make payments at any outlet that accepts VISA
- Add on Cards
- With CASHBACK SBI Card, one can empower your family with add-on cards for your parents, spouse, children, or siblings above the age of 18
- Cash on the Go
- Withdraw cash from over 1 million VISA across the globe
- Utility Bill Payment Facility
- Pay your electricity, telephone, mobile, and other utility bills using the Easy Bill Pay facility on your Cashback SBI Card
- Balance Transfer on EMI
- Save money while paying your credit card dues.
- Transfer the outstanding balance of other bank credit cards to your CASHBACK SBI Card, and avail of a lower rate of interest and pay back in EMIs.
- Log on to sbicard.com with your user ID and password to take benefit of this service.
Recent Changes Made in the Cashback Card
|Particular||Older Variant||New Variant|
|Joining Fee||Nil||INR 999|
|Cashback Benefits||5% cashback on online shopping1% cash back on offline transactions, including utility bill payment||5% cashback on online shopping1% cashback only on offline transactions|
|Excluded Categories for Cashback||Fuel Transactions, Merchant EMI Transactions, Rent Payments, Wallet Loading, Cash Advances, Balance Transfers, Flexipay or Encash Facility||Older Categories + Jewellery Purchases, Educational Transactions, Institutional Transactions, Utilities, Insurance Payments, Gifting, Railway Transactions|
|Monthly Capping on Cashback||INR 10,000 on accelerated category||INR 5,000, including all categories|
|Domestic Lounge Access||4 complimentary lounge access every year||No complimentary lounge visits are offered|
Fees & Charges
|Joining Fee||INR 999 (One-Time)|
|Renewal Fee||INR 999 from the second year onwardsReversed if annual spending for last year ≥ INR 2,00,000.|
|Add On Fees (Per Annum)||Nil|
|Order of Payment Settlement||All payments made for a cardholder account will be settled in the order of Minimum Amount Due (which is inclusive of all applicable taxes + EMI on EMI-based products + 5% of Total Outstanding), Fees & Other Charges, Interest charges, Balance Transfer Outstanding, Purchase Outstanding, and Cash Advance.|
Things to Remember:
- Submit account payee cheques following CTS 2010 standards for timely processing of your cheque payment
- All taxes would be charged as applicable on all the above Fees, Interest & Charges
- Your continued use of the card will be deemed acceptance of these amendments.
- Your continued use of the card will be deemed acceptance of amendments in all Terms and Conditions
For assistance, please call the SBI Card helpline at:
Dial 1860 180 1290 or 39 02 02 02 (prefix local STD code)
|Age Requirement||21 to 70 years|
|Good credit score||Card providers usually prefer a credit score of 750 and above|
|Occupation||Salaried or Self-employed|
|Proof of Identity||PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI, or any other government-approved photo ID proof|
|Proof of Address||Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof|
|Proof of Income||Latest one or 2 salary slips (not more than 3 months old), the Latest Form 16, Last 3 months’ bank statement|
How to Apply for SBI Cashback Credit Card:
Below mentioned are the steps to apply for an SBI Cashback credit card:
Step 1: Open the official website of SBI.
Step 2: Go to the tab “Credit Cards” and then click on “Cashback SBI card”.
Step 3: Now, click on “Apply Now”.
Step 4: Fill in the Application Form.
Step 5: Click on “Submit”.
Step 6: SBI will contact the applicant for verification purposes and the credit card would be received once the verification gets completed.
How to redeem Reward Points?
Below mentioned are the steps to get the reward points redeemed:
- Log in to the Internet banking account of SBI.
- Click on the “Redeem Rewards” option provided on the main page.
- Choose the Reward category from the catalog provided.
- The total reward points will be displayed on the left side of the page.
- Enter the city for the delivery of the rewards.
- Select the quantity of the rewards and then click on “Add to Cart”.
- Tick on the disclaimer, and click on “Place Order”.