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Benefites of SBI Credit Card Total Benefits...
Cashback SBI Credit Card
- Joining Fee: Rs. 999 + GST
- Renewal Fee: Rs. 999 + GST
- Best Suited For: Shopping
- Reward Type: Reward Points |
- Welcome Benefites: NA
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The SBI Cashback Card is a newly launched credit card offered by SBI Card. As the name suggests, the card is a cashback reward card and provides cash back for every transaction down with the card. It’s a great card as you don’t have to track your reward points or go through the hassle of redeeming points for different things. The annual charges applicable on the card are Rs. 999, and you can get it waived off on spending Rs. 2 Lakhs or more in the previous year. With this card, you can earn up to 5% cash back on all online and offline spending made with the card. The cashback is automatically credited to the cardholder’s account, and you even get access to other features like fuel surcharge waiver, etc. Go through our Cashback SBI Card review to learn about its features and benefits.
New Features
Spend Based Waiver
The annual fee can be waived on spending Rs. 2,00,000 or more in the previous year.
Interest Rates
3.5% p.m. (42% p.a.)
Add-on Card Fee
Nil
Rewards Redemption Fee
NIL
Fuel Surcharge
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)
Foreign Currency Markup
3.5% of the international transaction
Cash Advance Charges
2.5% of the amount withdrawn or a minimum charge of Rs. 500.
Movie & Dining
NA
Travel
NA
International Lounge Access
NA
Rewards Rate
5% cashback for every online transaction and 1% cashback on other offline transactions. You can earn a maximum of Rs. 5000 cashback in a single statement cycle.
Golf
NA
Insurance Benefits
NA
Reward Redemption
Cashback earned with the card will be automatically credited to next month’s statement.
Domestic Lounge Access
NA
Zero Liability Protection
The cardholder will not be liable for any fraudulent transaction if the card is reported lost or stolen to the bank in a timely manner.
Pros
Decent 5% cashback on online and 1% cashback on offline spends. The monthly cashback cap of Rs. 5,000 is high when compared to other cashback cards. Great for online spendings as most cashback cards don’t offer 5% back and have lower rewards.
Cons
There are several categories excluded from 1% cashback. It can be hard to reach the spend-based waiver as many major spend categories don’t accrue cashback. Complimentary lounge access has been discontinued on the card. During online sales, you do not get an instant discount on the cashback card.
