SBI Cashback Credit Card is a newly launched credit card. As the name suggests it offers cashback on every transaction made with the card. With this card, you can earn up to 5 % cashback on all online and offline purchases. Besides this, cardholders will get numerous amount of complimentary benefits like complimentary access to domestic airport lounges.
Highlights of SBI Cashback Credit Card
| Joining Charges | 0 |
| Annual Charges | INR 999 |
| Suitability | Online Shopping and Cashback |
| Rewards | 5% cashback on online spends |
Cash Back SBI Card Fees and Charges
| Joining Charges | 0 |
| Finance | 42% p.a. |
| Annual Charges | INR 999 |
| Late Payment Charges |
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SBI Cashback Credit Card Features and Benefits –
SBI Cashback credit card has the following features –
- For the first year, you can use all the benefits for free. However, at the beginning of the second year, you are supposed to pay annual fees of INR 999 which will also be waived if you spend INR 2 lac in the first year.
- On transactions between INR 500 to INR 3,000 the cardholder will get a 1 % surcharge waiver on fuel that is applicable over all fuel stations. The maximum waiver will be INR 100.
- The card is widely accepted all over the world, with around 24 million locations around the world, including 3.24 lakhs in India.
- 5 % cash back on all online transactions. With no merchant, restrictions are there.
- You can pay your electricity, mobile, and other utility bills by using a SBI Cashback credit card.
- You can get 1% cash back on offline purchases and utility bill payments. Rent payments, merchant EMIs, balance transfers, Flexi pay, wallet loads, encash, and cash advances are not eligible for cashback.
- You can transfer outstanding credit card debts from other banks to your credit card for repayment of EMI at lower interest rates.
- You can increase the value of your card by purchasing add-on cards for parents, spouses, children, or siblings over 18 years of age.
- You will get 4 free domestic airport lounge access per year.
Eligibility Criteria for Availing of SBI Cashback Credit Card
To be eligible for this credit card, applicants must meet the following fundamental requirements:
| Age | 21 – 70 Years of age |
| Occupation | Self-employed and salaried |
| Credit Score | Above 750 |
EXCLUSIONS IN CASH BACK
No cashback will be provided for Rent, Fuel, Wallet Loads, EMIs, Cash Advances, Balance Transfers, and Encash & Flexi pay spends. Also, transactions below INR 100 will not accrue any cashback.
The maximum cashback that can be earned on online transactions (5% cashback) and offline transactions (1% cashback) is capped at INR 5,000 every month.
The following spend categories are not eligible for Cashback –
- Jewelry
- School and Educational services
- Insurance Services
- Utilities
- Railways
- Card, Gift, Novelty & Souvenir Shops
- Quasi Cash/Member Financial Institution
Cash Back Calculation –
With the SBI cashback card, you will not get the entire 5% cashback on your online spending. First, there is 1% cashback calculated on the expenditure, and then the remaining bonus 4% cashback is calculated.
For example, if you spent INR 3000 with the card and it is eligible to get the 5% cashback, then
- 1% of INR 3000 = INR 30
- 4% of INR 3000 = INR 120
The total cashback received by you will be INR 150.
Also, there is a maximum capping of INR 5000 on cashback per month including both online and offline transactions.
Value back Comparison: Cash Back SBI Card Vs Axis Ace
| Transaction | Amount | Cashback SBI Card | Axis Ace |
| Spends on Big Basket | INR 7,000 | INR 350 | INR 140 |
| Electricity Bill Payment via Google Pay | INR 4,000 | INR 0 | INR 200 |
| Apparel Purchase on Myntra | INR 3,500 | INR 175 | INR 70 |
| Fuel Spends | INR 5,000 | INR 0 | INR 0 |
| Food Ordering via Zomato | INR 2,000 | INR 100 | INR 80 |
| Spends at Ola Cabs | INR 3,000 | INR 150 | INR 120 |
| Spends on FirstCry | INR 4,000 | INR 200 | INR 80 |
| Spends at Uber | INR 2,000 | INR 100 | INR 40 |
| Flight booking via MakeMyTrip | INR 8,000 | INR 400 | INR 160 |
| Hotel Booking via Cleartrip | INR 6,500 | INR 325 | INR 130 |
| Misc. Offline Spends | INR 5,000 | INR 50 | INR 100 |
| Total | INR 50,000 | INR 1,850 | INR 1,120 |
Documents Required
Before clicking on the SBI Credit Card Apply button, an applicant must know the documents required for the same which are as mentioned below:
- Driving License, Aadhar Card, PAN Card, voter’s Id, and other forms of identification are acceptable.
- Utility bills, Aadhar cards, driving licenses, passports, and other forms of address proof are acceptable.
- Income Proof such as the most recent three months’ bank statements, salary slips, or the most recent audited ITR.
How to apply for SBI Cash Back Credit Card
To receive a credit card you can use the offline or online process. To apply offline, you have to visit the nearest bank branch and fill out the application form and submit it. But for the online process, you have to follow the following steps –
Step 1: Visit the official website or portal of the State Bank of India Bank.
Step 2: You have to go to the Credit Cards section.
Step 3: You have to search for and choose the SBI Cashback Card.
Step 4: Then you have to hit the ‘Apply Now’ button.
Step 5: Then at the end, you have to fill in all of the essential information and continue.
Similar Credit Cards
| Credit Card Name | Feature |
| Axis Ace Credit Card | 5% cashback on bill payments and recharges made with Google Pay; 2% cashback on all other purchases. |
| Standard Chartered Smart Credit Card | 2% reward on all online purchases. |
| Amazon Pay ICICI Credit Card | Amazon Prime members receive 5% cashback; non-prime members receive 3% cashback. |
Other SBI Credit Cards
| I Elite Credit Card | BPCL SBI Card | Simply CLICK SBI Credit Card | SBI Prime Credit Card |
| CASHBACK SBI Card | IRCTC SBI Card | SBI Unnati Credit Card | SBI Card PULSE |
| SBI Shaurya Credit Card | SBI SimplySave Credit Card |
