SBI Cashback Credit Card is a popular cashback reward credit card offered by the State Bank of India (SBI). As the name suggests, this credit card offers cashback rewards on every transaction made using the card. Here are some key features and benefits of the SBI Cashback Credit Card:
Credit cards have become a popular financial tool for individuals to make purchases, pay bills, and earn rewards. Among the many credit cards available in India, the SBI Cashback Credit Card is a popular choice for many. In this article, we will explore the various benefits of the SBI Cashback Credit Card and why it may be the right choice for you.
What is the SBI Cashback Credit Card?
The SBI Cashback Credit Card is a credit card offered by the State Bank of India (SBI), one of the largest public sector banks in India. It is a cashback credit card that offers cashback on a variety of purchases made using the card.
- Cashback Rewards: SBI Cashback Credit Card offers a flat cashback reward of 1% on all retail transactions made using the card. The cashback is credited to the cardholder’s account at the end of each billing cycle.
- Annual Fee: The annual fee for SBI Cashback Credit Card is relatively low, making it affordable for most credit card users.
- Fuel Surcharge Waiver: Cardholders can enjoy a fuel surcharge waiver of 1% on fuel transactions made using the card.
- Easy Bill Payment: SBI Cashback Credit Card comes with an easy bill payment feature that allows cardholders to pay their bills on time and avoid late payment charges.
Cashback Benefits of the SBI Cashback Credit Card
The SBI Cashback Credit Card offers a range of cashback benefits to its cardholders. Some of the notable benefits include:
- Cashback on fuel purchases: Cardholders can earn 1% cashback on fuel purchases made at any petrol pump in India.
- Cashback on utility bill payments: Cardholders can earn 2.5% cashback on utility bill payments made through the SBI Credit Card App.
- Cashback on grocery purchases: Cardholders can earn 2.5% cash back on grocery purchases made at select grocery stores in India.
- Cashback on all other purchases: Cardholders can earn 1% cash back on all other purchases made using the SBI Cashback Credit Card.
Other Benefits of the SBI Cashback Credit Card
In addition to the cashback benefits, the SBI Cashback Credit Card also offers other benefits to its cardholders. Some of the notable benefits include:
- Annual fee waiver: The SBI Cashback Credit Card offers an annual fee waiver for the first year. From the second year onwards, the annual fee can be waived if the cardholder spends a minimum of Rs. 1 lakh in the previous year.
- Add-on cards: Cardholders can apply for up to two add-on cards for their family members, which can also earn cashback on purchases made using the card.
- Contactless payments: The SBI Cashback Credit Card also supports contactless payments, which allows for a faster and more convenient payment experience.
- Easy EMI options: Cardholders can also convert their purchases into easy EMIs with the SBI Cashback Credit Card.
Sbi Cashback Credit Card Eligibility
To be eligible for the SBI Cashback Credit Card, one must meet the following criteria:
- Age: The cardholder must be between 21 and 60 years of age.
- Income: The minimum income requirement for SBI Cashback Credit Card is Rs. 20,000 per month.
- Credit Score: The cardholder must have a good credit score to be eligible for the credit card.
In conclusion, the SBI Cashback Credit Card is a great option for those looking for a low-cost credit card with cashback rewards on every transaction. With its attractive features and benefits, it is a popular choice among credit card users in India.
Sbi Cashback Credit Card Fees & Charges
Rs. 999 (plus applicable taxes)
Spend based Waiver
The annual fee can be waived on spending Rs. 2,00,000 or more in the previous year.
Rewards Redemption Fee
Foreign Currency Markup
3.5% of the international transaction
3.5% p.m. (42% p.a.)
1% fuel surcharge waiver for transactions between Rs. 500 and Rs. 3,000 at petrol pumps across India. (waiver capped at Rs. 100 per statement)
Cash Advance Charge
2.5% of the amount withdrawn or a minimum charge of Rs. 500.
Add-on Card Fee
Cashback SBI Credit Card Features & Benefits
The Cashback SBI Card comes with a great cashback reward rate and the cardholders can earn lots of cashback for every transaction. The card comes with exciting privileges like airport lounge visits and fuel surcharge waiver, and much more. Following are the detailed features and benefits of the Cashback Card by SBI card:
|Online Transaction||5% cashback.|
|Offline Transaction||You will get 1% of base card cashback.|
|Utility Bill Payment||You will be getting 1% of base card cashback on offline & utility bill payments.|
Note that no cashback will be provided for Rent, Fuel, Wallet Loads, EMIs, Cash Advances, Balance Transfers, and Encash & Flexipay spends.
And transactions below Rs. 100 will not accrue any cashback.
The maximum cashback that can be earned on online transactions (5% cashback) is capped at Rs. 10,000 every month. After reaching the limit, the usual 1% cashback will be applicable on all spends.
For better understanding let’s take an example, Assume you spent Rs. 2,10,000 in a month on eligible online spending, now with the 5% cashback, you will earn Rs. 10,500 cashback.
However, the maximum cashback that can be earned in the 5% category is Rs. 10,000, so the rest amount of Rs. 10,000 (out of 2,10,000) will accrue the cashback as per the 1% category.
So, in the end, you will earn cashback of Rs. 10,000 (5% on 2,00,000) and Rs. 100 (1% on the rest of Rs. 10,000)
Sbi Cashback Credit Card Travel Benefits
The Cashback SBI Card offers 4 complimentary access to Domestic Airport lounges annually. You can access the lounge 1 time per quarter.
Annual Fee Waiver
The Annual Fee of Rs. 999 associated with the Cashback SBI Card can be waived on spending Rs. 2 Lakh or more in the last year.
Fuel Surcharge Waiver
Get a 1% waiver on the fuel surcharge applicable on fuel transactions between Rs. 500 and Rs. 3,000 at all petrol pumps across India. The maximum waiver that can be claimed is capped at Rs. 100 per month.
The Cashback SBI Card offers many other benefits:
– Get up to 2 add-ons for family members free for a lifetime.
– Contactless payments for transactions below Rs. 5,000.
The cashback earned with the Cashback SBI Card is auto-credited within 2 days of the card’s next statement.
Therefore, if your statement is generated on the 6th of every month (let’s assume the 6th of September), then the cashback earned on the 7th of August – 6th of September cycle will be credited after 2 days of your statement generation, ie, on the 8th of September.
Cashback SBI Card Fees and Charges
The following are the most essential charges associated with a credit card:
Joining & Renewal fee:
First Year is absolutely free to enjoy all the privileges and the annual charges are Rs. 999.
Reversal of Renewal fees on annual spends of Rs. 2 lakhs.
The interest charges applicable on the card are 3.5% p.m. (42% p.a.).
Cash advance fee:
For every cash withdrawn using the card from ATMs, you are charged 2.5% of the amount or flat Rs. 500.
Foreign currency markup:
The card charges 3.5% as the international currency markup fee.
Late Payment Charges:
- Dues remaining less than 500 don’t have to pay any charges.
- Dues from Rs.500 to Rs.1,000 have to pay Rs.400.
- Dues from Rs.1,000 to Rs.10,000 will be charged Rs.750.
- Dues from Rs.10,000 to Rs.25,000 will be charged Rs.950.
- Dues from Rs.25,000 to Rs.50,000 will be charged Rs.1,100.
CashBack SBI Credit Card Eligibility Criteria
The basic eligibility requirements that you need to fulfill in order to get approved for the card are mentioned below:
- The age of the primary cardholder must lie between 21 years and 65 years.
- The applicant should be having a stable source of income.
- The applicant should have a decent credit history.
Cashback SBI Card Documents Required
The documents that are required to apply for Cashback SBI Card are mentioned below:
- Identity Proof: Driving Licence, Aadhar Card, PAN Card, Voters’ Id, etc.
- Address Proof: Utility bills, Aadhar Card, Driving Licence, Passport, etc.
- Income Proof: Latest 3 months’ bank statements, latest 3 months’ salary slips, or latest audited ITR.
How to apply for Cashback SBI Card
If you are interested to get the Cashback SBI Card, then you can follow any of the online or offline methods. To apply offline, visit the nearest SBI Branch and fill in the application form available there. However, for the online procedure, follow the steps given below:
- Visit the SBI Bank’s official website.
- Go to the Credit Cards page.
- Look for and select the Cashback SBI Card.
- Click on ‘Apply Now’.
- Proceed further by filling in all the required details.
Credit Cards Similar to Cashback SBI Card
|Benefits||Cashback SBI Card||Axis Bank Ace Credit Card||HDFC Bank MoneyBack Plus Credit Card||SBI SimplyClick Credit Card|
|Annual Fees||Rs. 999||Rs. 499||Rs. 500||Rs. 499|
|Rewards Rate||5% cashback for every online transaction.
1% cash back on every other offline transaction and utility bill payment
|5% cashback on utility bill payments and DTH & Mobile recharge via Google Pay.
4% cashback on Zomato, Swiggy, and Ola.
2% cashback on all other spends.
|20 Cash Points for every Rs. 150 Spent on Amazon, Flipkart, Big Basket, Reliance Smart, and Swiggy,
10 Cash Points for every Rs. 150 spent on EMI spends.
2 Cash Points for every Rs. 150 spent on other spends.
|10X Reward Points for every Rs. 100 spent on online purchases at partner merchants.
5X Reward Points for every Rs. 100 spent on all other online spends.
1 Reward Point for every Rs. 100 spent with the card on offline spending.
|Reward Redemption||Cashback earned will be auto-credited within 2 days of the next statement.||Cashback earned will be auto-credited to the credit card’s statement.||Cash points earned are redeemable against statements as cash, flight or hotel booking, products, or Airmiles.||Reward Points earned are redeemable against products and gift vouchers or the card’s statement balance. (1RP = Rs. 0.25)|
|Additional Benefits||4 complimentary access to Domestic Airport lounges annually.
Annual fee waiver on spending Rs. 2 Lakh in a year.
|4 complimentary airport lounge access every year.
20% discount on dining bills under the Dining Delights program.
Annual fee waiver on spending Rs. 2 Lakh in a year.
|500 Cash points on joining the card as a welcome benefit.
15% discount on dining bills at over 2,000 restaurants.
Annual fee waiver on spending Rs. 50,000 in a year.
|Amazon gift voucher worth Rs. 500 as a welcome gift.
ClearTrip voucher worth Rs. 2,000 on spending Rs. 1 Lakh in a yea
Sbi Cashback Credit Card Frequent Ask Question
How can I check my SBI credit card cashback?
What are the forex charges on SBI cashback cards?
Can you withdraw money from cashback card?
How much is credit card cashback?
- Bank deposit: The cashback is deposited directly to your checking or savings account.
- Credit on statement: The cashback directly offsets your current credit card balance. …
- Gift card: The cashback is returned in the form of a gift card for use at retailers.
How long does it take to get cashback on credit card?
What is the minimum withdrawal for cashback?
What is the minimum credit for SBI credit card?
- Go to the withdrawal page while logged in. In the app, it’s in Account → Withdraw. …
- Select Add a Bank.
- Fill in your details when prompted.
- After adding your bank details, we’ll send you an email to verify.
- Verify your bank account via email to continue with the withdrawal.
How to withdraw money from a credit card online?
- step 1: call your credit card company.
- step 2: request for a fund transfer.
- step 3: confirm the amount you want to transfer to the bank account.
- step 4: provide the bank account number and other details required.
- step 5: follow the prompts to complete the transaction.