SBI Cashback Credit Card
Experience the convenience of cashback rewards with the SBI Cashback Credit Card. Earn cashback on every purchase, from groceries to fuel. Apply now and enjoy exclusive benefits!
SBI Cashback Credit Card
- Rewards
- Cashack
Fee
Joining Fee - Rs. 999
Annual Fee - Rs. 999
- Cashback on Purchases: Earn cashback on all your online and offline purchases (excluding specific categories like utility bills, insurance, fuel, etc.).
- Online Cashback Advantage: The card boasts a higher cashback rate (5%) for online transactions compared to offline transactions (1%).
- No Merchant Restrictions: Unlike some cashback cards, the SBI Cashback Credit Card offers cashback regardless of the merchant you shop at, online or offline.
- Welcome Bonus (Optional): Some variants of the SBI Cashback Credit Card might offer a welcome bonus for meeting specific spending requirements within the first few months.
- Airport Lounge Access (Optional): Select variants might offer complimentary access to domestic airport lounges, enhancing your travel experience.
Benefits Breakdown:
The cashback structure of the SBI Cashback Credit Card is straightforward:
- Online Transactions: Earn 5% cashback on all online purchases made using the card.
- Offline Transactions: Earn 1% cashback on all offline purchases made using the card (excluding specific categories as mentioned earlier).
| Fee/Charge | Description | Amount |
|---|---|---|
| Annual Fee | Standard annual fee charged for card membership. Can be waived off if specific spending criteria are met in the previous year. | Typically Rs. 999 |
| Joining Fee (One-Time) | One-time fee charged upon card issuance. | May vary depending on the card variant |
| Add-on Card Fee (Annual) | Annual fee charged for each additional card issued on the same account. | May vary depending on the card variant |
| Late Payment Fee | Penalty charged for delayed payment of minimum amount due. | Rs. 100 (Applicable after missing minimum payment due date for two consecutive billing cycles) |
| Finance Charges | Interest rate charged on outstanding credit card balance. | Up to 3.50% per month (42% p.a.) |
| Cash Advance Fee | Transaction fee charged for withdrawing cash using the credit card at ATMs. | 2.5% of transaction amount or Rs. 500 (whichever is higher) for domestic ATMs |
| Cash Advance Fee (International) | Transaction fee charged for withdrawing cash using the credit card at international ATMs. | 2.5% of transaction amount or Rs. 500 (whichever is higher) |
| Balance Transfer Fee | Fee charged for transferring outstanding balances from other credit cards to the SBI Cashback Credit Card. | May vary depending on the transferred amount |
| Foreign Currency Markup | Additional fee charged on transactions made in foreign currency. | Typically 3.50% of the transaction amount |
| Lost/Stolen Card Replacement Fee | Fee charged for replacing a lost or stolen credit card. | May vary depending on the card variant |
Minimum Age:
- Salaried individuals: 21 years or above
- Self-employed individuals: 25 years or above
- Retired pensioners: Between 40 and 70 years old (exceptions may apply)
Income Requirements:
- A minimum annual income requirement will be set by SBI Card, but the specific amount may not be publicly disclosed.
- You will likely need to provide proof of income through documents like salary slips for salaried individuals or income tax returns for self-employed applicants.
Credit Score:
- A good credit score (generally considered above 750) will significantly improve your chances of approval.
- A healthy credit history demonstrating responsible credit management is crucial.
Other Factors:
- SBI Card may also consider factors like your employment status, existing debt obligations, and banking relationship with SBI.
- Maintaining a low credit utilization ratio (outstanding credit compared to credit limit) on existing credit cards is a positive factor.
Choosing the right cashback credit card can be overwhelming with so many options available. Here’s a comparison of the SBI Cashback Credit Card with two popular contenders: HDFC Millennia Credit Card and Axis Bank Flipkart Credit Card, highlighting key features to aid your decision:
| Feature | SBI Cashback Credit Card | HDFC Millennia Credit Card | Axis Bank Flipkart Credit Card |
|---|---|---|---|
| Cashback Rate (Online) | Up to 5% | Up to 5% on select categories | Up to 5% on Flipkart & partner websites |
| Cashback Rate (Offline) | 1% | 1% on all purchases | Up to 4% on select categories |
| Welcome Bonus | May vary depending on variant (Subject to spending criteria) | Up to 5,000 CashPoints (Subject to spending criteria) | Up to Rs. 2,000 cashback (Subject to spending criteria) |
| Annual Fee | Typically Rs. 999 (waivable) | Free for life (if specific criteria met) | Free for the first year, Rs. 499 onwards |
| Airport Lounge Access | Optional (May vary depending on variant) | Complimentary access at domestic airports (limited visits) | Not included |
| Rewards Program | Cashback only | CashPoints convertible to cashback or vouchers | Cashback and reward points on Flipkart & partner platforms |
- Click on the apply button below the card
- Make sure you have all the documents in order and satisfy the eligibility criteria
- Complete the online application and attach necessary documents required
- Once, we receive the application, you will be provided an acknowledgement number
- Track the status of the application number online
How much cashback can I earn with the SBI Cashback Credit Card?
You can earn up to 5% cashback on all online purchases and 1% cashback on all eligible offline purchases (excluding specific categories like utility bills, insurance, and fuel).
Is there an annual fee for the SBI Cashback Credit Card?
Yes, there is typically an annual fee associated with the SBI Cashback Credit Card, usually around Rs. 999. However, this fee can be waived off if you meet specific spending requirements in the previous year.
What are the eligibility criteria for applying for the SBI Cashback Credit Card?
Eligibility criteria can vary slightly depending on the specific card variant, but generally include:
- Minimum age: 21+ (salaried), 25+ (self-employed), 40-70 (pensioners)
- Minimum income (specific amount not publicly disclosed)
- Good credit score (ideally above 750)
- Stable employment and responsible credit history