SBI Cashback Credit Card
Annual Fees
INR 999 + 18% GST (Renewal Fee Waived on INR 2 Lakh annual spend)
Features
5% Cashback on online* spends with no merchant restrictions
Additional Benefits
1% Cashback on offline* spends, 1% Fuel Surcharge Waiver at all petrol pumps in India
Annual Fees
INR 999 + 18% GST (Renewal Fee Waived on INR 2 Lakh annual spend)
Features
5% Cashback on online* spends with no merchant restrictions
Additional Benefits
1% Cashback on offline* spends, 1% Fuel Surcharge Waiver at all petrol pumps in India
Welcome Benefits
- Unfortunately, the SBI Cashback credit card doesn’t offer any welcome benefits.
Cashback
- Instead of reward points, the credit card gets you 5% cashback on online spending without merchant restrictions.
- However, 5% cashback doesn’t apply to specific categories, including insurance, fuel, rent, wallet, educational services, jewelry, railways, etc.
- For offline spending, the credit card offers a flat 1% cashback.
- The maximum cashback one can earn on online and offline spends cannot be more than Rs. 5,000 in a statement cycle. Within the statement period, transactions performed after reaching the limit won’t accrue any cashback.
- Unfortunately, the cashback isn’t applicable on Merchant EMI and Flexipay EMI transactions.
- The earned cashback for a statement cycle is automatically credited to the user’s SBI card accounts within two working days of the statement generation date.
Contactless Card Benefits
- Users can tap the SBI Cashback credit card on a contactless POS machine for transactions up to INR 5,000.
- The credit card is accepted in over 24 million outlets worldwide, including over 325,000 outlets in India.
Fuel Surcharge Waiver
- The SBI Cashback credit card offers a 1% fuel surcharge waiver across all petrol pumps in the country.
- The waiver applies to transactions between INR 500 and INR 3,000 (exclusive of GST and other charges).
- For a statement cycle, the maximum surcharge waiver is limited to INR 100.
Milestone Benefits
- The bank doesn’t offer any milestone benefits with this card.
Lounge Access
- While the SBI Cashback credit card was launched with complimentary airport lounge access, the bank later revoked this benefit. Currently, the card doesn’t offer domestic or international lounge access.
Fees And Charges
- There’s a joining fee of INR 999 + GST in place.
- Users must pay an annual fee of INR 999 + GST from the second year onwards.
- To reverse the annual fee, users must perform transactions worth INR 2,00,000 or more in the preceding card anniversary year.
Late Payment Fee
- Not applicable for an outstanding amount of less than INR 500.
- INR 400 for an outstanding amount less than INR 1,000.
- INR 750 for an outstanding amount less than INR 10,000.
- INR 950 for an outstanding amount less than INR 25,000.
- INR 1,100 for an outstanding amount less than INR 50,000.
- If the minimum due amount is not paid in two consecutive billing cycles, an additional late payment fee of INR 100 will be charged.
Over Limit Penalty
- If the total outstanding amount exceeds a user’s credit limit, the user must pay an over-limit fee.
- The fee equals 2.5% of the over-limit amount or INR 600, whichever is higher.
- Once the primary cardholder enables the over-limit feature, the bank will enable it for all the cards issued to the name.
Forex Transaction Fee
- SBI Cashback card holders can make payments in a foreign currency for a 3.5% transaction fee. The bank will not refund the fee if the transaction is reversed.
Rent Surcharge Fee
- To pay rent via the SBI Cashback credit card, users must pay a processing fee of INR 199 (irreversible).
Finance Charges
- The bank levies finance charges at 3.50% per month or 42% per annum from the transaction date.
Eligibility
- Applicants must be at least 21 years of age.
- They should have a decent credit score, as demanded by the bank.
- The card is available for salaried and self-employed individuals based on their credit history.
Documentation Required
- The SBI Cashback card requires a valid proof of identity. You must present the required documents, such as your Aadhaar card or driver’s license.
- Further, you should provide valid proof of residence.
- You must profile your PAN card details, latest salary slip, Form 16, or three months bank account statement.
Additional Features
- Additional features of the SBI Cashback credit card include add-on cards, cash withdrawal facility, and balance transfer from other credit cards to this credit card.
SBI Cashback Credit Card Benefits
The primary benefit of SBI’s Cashback credit card is the flat 5% cashback on online transactions. Unlike co-branded cards that offer cashback on selected platforms, this card offers 5% cashback on all online transactions. Whether ordering food from Swiggy or Zomato, groceries from BigBasket, or booking tickets through BookMyShow, you’ll earn the 5% cashback without fail.
The SBI Cashback credit card is the solution for people who need clarification on the Amazon Pay ICICI credit card and the Flipkart Axis Bank credit card, as it offers 5% cashback on both platforms.
Also Read: Best Cashback Credit Cards in India
SBI Cashback Credit Card Lounge Access
While the credit card used to offer four complimentary lounge visits yearly, it discontinued the feature some time ago. The SBI Cashback credit card doesn’t allow customers to visit domestic airport lounges at a discounted rate. If you visit a lounge with a credit card, you’d have to pay the retail amount to reserve a seat and enter the lounge.
Also Read: Best Airport Lounge Access Credit Card
SBI Cashback Credit Card Limit
There’s no fixed limit associated with the SBI Cashback account. Before giving you a limit, the bank reviews your credit score, repayment history, and income-related details. If you have a low credit score, the bank could provide a smaller card limit (in five digits). However, if you have an excellent credit history and above-average monthly income, it could also offer a card limit of over a lakh.
SBI Cashback Credit Card Eligibility
As mentioned earlier, the applicant must be at least 21 years old and able to produce all the required documents (address proof and income proof).
How to Apply for an SBI Cashback Credit Card?
If you wish to apply for the SBI Cashback credit card, head to the bank’s official website and hit the “Apply Now” button on the card selection page. The website will ask you to keep some details handy on the following screen, such as your PAN card, bank account details, and Aadhaar number. Once ready, hit the “Start Apply Journey” button at the bottom to begin the application process.
