Amplify Rewards and Savings: SBI Cashback Card Review
10 Jan 2025 5 mins Credit Cards
Are you looking for a credit card that offers unmatched rewards and savings on your everyday purchases? The SBI Cashback Card is designed to provide substantial cashback, low fees, and versatile benefits for its users. In this article, we’ll explore the cashback SBI card benefits, its charges, eligibility criteria, and much more to help you decide if this card is right for you.
Key Features of the SBI Cashback Card
1. Earn 5% Cashback on Online Spends
The SBI Cashback Card offers an attractive 5% cashback on all online purchases. Whether you’re buying groceries, gadgets, or booking tickets, this feature ensures you save on every transaction.
2. 1% Cashback on Offline Spends
For offline purchases, the card provides 1% cashback, making it an excellent choice for daily expenses like dining, shopping, and entertainment.
3. Hassle-Free Cashback Crediting
Your cashback rewards are auto-credited to your account within two working days after your statement generation. This feature ensures seamless reward redemption, enhancing the overall user experience.
Cashback SBI Card Annual Fee and Spend-Based Reversal
The cashback SBI card annual fee is ₹999. However, if your annual spending exceeds ₹2,00,000, the renewal fee is reversed. This makes the card cost-effective for high spenders, effectively turning it into a no-fee card with regular usage.
Cashback SBI Card Fees and Charges
Fee Type | Amount | Details |
Joining Fee | ₹999 (one-time) | Payable when you receive the card for the first time. |
Renewal Fee | ₹999 per year | Waived if annual spending exceeds ₹2,00,000. |
Add-On Card Fee | Nil | No additional charges for supplementary cards. |
When considering the SBI Cashback Card, it’s essential to understand the associated costs:
Joining Fee: ₹999 (one-time)
Renewal Fee: ₹999 per year (waived on spending ₹2,00,000 annually)
Add-On Card Fee: Nil
These transparent cashback SBI card charges make it an affordable choice for most users.
Cashback SBI Card Benefits
1. Fuel Surcharge Waiver
Save on fuel expenses with a 1% surcharge waiver applicable on transactions between ₹500 and ₹3,000. The maximum waiver is ₹100 per statement cycle, adding up to significant savings for frequent drivers.
2. Worldwide Acceptance
The SBI Cashback Card is accepted at over 24 million outlets globally, including 3,25,000 outlets in India. This makes it ideal for both domestic and international travelers.
3. Add-On Cards
You can empower your family by applying for add-on cards for your spouse, parents, children, or siblings over the age of 18. These cards come with the same benefits as the primary card.
4. Utility Bill Payment Facility
Pay your utility bills, such as electricity, water, and mobile, with the card’s Easy Bill Pay feature. This convenience eliminates the hassle of manual payments.
Exclusions on Cashback SBI Card Benefits
While the cashback program is extensive, certain categories are excluded:
Merchant EMI and Flexipay EMI transactions
Utility, insurance, and rent payments
Fuel purchases
Wallet recharges
Educational services and jewelry
Refer to the complete terms and conditions for detailed information on exclusions.
Contactless Advantage for Quick Payments
1. Fast and Convenient Transactions
The contactless feature of the SBI Cashback Card allows you to tap and pay for purchases, ensuring quick and hassle-free transactions.
2. Enhanced Security
Thanks to VISA PayWave technology, the card stays in your hand during payments, reducing the risk of fraud. Even if the card is tapped multiple times, the system ensures only one transaction goes through, offering peace of mind.
Eligibility Criteria for Cashback SBI Card
To apply for the SBI Cashback Card, you must meet the following criteria:
Be an Indian resident
Be at least 18 years old
Have a stable source of income
Meeting these simple cashback SBI card eligibility requirements makes the card accessible to a wide range of applicants.
How to Apply for the SBI Cashback Card
Getting your hands on the SBI Cashback Card is straightforward:
Visit the SBI Card website.
Fill out the online application form.
Submit the required documents for verification.
Await approval and card delivery.
With a simple and fast process, you’ll be ready to enjoy the cashback SBI card benefits in no time.
Why Choose the SBI Cashback Card?
The SBI Cashback Card stands out for its combination of high rewards, low fees, and versatile features. It’s a great choice for online shoppers, frequent travelers, and anyone looking to save on everyday expenses.
Conclusion
The SBI Cashback Card is more than just a credit card; it’s a financial tool that rewards you for your spending habits. With substantial cashback on online and offline transactions, spend-based fee reversals, and added benefits like worldwide acceptance and utility bill payment, this card is a must-have for anyone looking to maximize their savings.
FAQs
1. What is the cashback limit for online transactions on the SBI Cashback Card?
There is no specific limit for eligible online transactions, but exclusions apply.
2. Can I apply for add-on cards with the SBI Cashback Card?
Yes, you can apply for add-on cards for family members over 18 years old.
3. How can I get the cashback SBI card annual fee waived?
Spend ₹2,00,000 or more in a year to get the renewal fee waived.
4. Are there any charges for add-on cards?
No, add-on cards are issued free of charge.
5. What are the eligibility criteria for the SBI Cashback Card?
You must be an Indian resident, at least 18 years old, and have a stable income.
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Author - Abhishek Sonawane
Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam (IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.