SBI Cashback Credit Card

SBI has introduced the ‘Cashback SBI Card’ aimed at providing its customers with exclusive cashback benefits. This credit card ensures you receive the highest possible cashback rewards for your online purchases, establishing it as a premier choice for online shopping enthusiasts. Continue reading to explore the Cashback SBI Card’s features, advantages, associated fees, and more.

Key Highlights of Cashback SBI Card

  • 5% cashback on all online spends & 1% cashback on all offline spends & utility bill payments.
  • 4 complimentary domestic airport lounge visits per year (1 visit per quarter).
  • 1% (maximum Rs. 100 per statement cycle per credit card account) fuel surcharge waiver at all petrol pumps in India on transactions of between Rs. 500 and Rs. 3,000.
  • Renewal fee of Rs. 999 and can be reversed from 2nd year onwards on annual spends of Rs. 2 Lakhs.

Features and Benefits of SBI Cashback Credit Card

The Cashback SBI Card offers a range of features and advantages, including:

  1. Earn a 5% cashback on all online purchases without any merchant restrictions.
  2. Receive a 1% cashback on offline purchases and utility bill payments. Please note that cashback is not applicable to rent payments, merchant EMIs, balance transfers, flexipay, wallet loads, encashments, or cash advances.
  3. Enjoy four complimentary visits to domestic airport lounges each year, with a maximum of one visit per quarter.
  4. Benefit from a 1% fuel surcharge waiver at all petrol stations across India for transactions ranging from Rs. 500 to Rs. 3,000. The maximum surcharge waiver in a billing cycle is Rs. 100.
  5. The Cashback SBI Card is accepted at over 24 million outlets worldwide, including 3.25 lakh outlets within India.
  6. Simplify bill payments with the ‘Easy Bill Pay’ feature, allowing you to conveniently pay your mobile, electricity, and other utility bills.
  7. Transfer outstanding credit card debts from other banks to your Cashback SBI Card and repay them in easy EMIs at a lower interest rate.
  8. Extend the card’s benefits by obtaining add-on cards for your parents, spouse, children, or siblings who are over 18 years of age.

SBI Cashback Credit Card Fees and Charges

1. Membership Fees:

  • Finance: 42% per annum
  • Annual Charges: Rs. 999

2. Late Payment Fees:

  • For balances between Rs. 500 and Rs. 1,000: Rs. 400
  • For balances between Rs. 1,000 and Rs. 10,000: Rs. 750
  • For balances between Rs. 10,000 and Rs. 25,000: Rs. 950
  • For balances between Rs. 25,000 and Rs. 50,000: Rs. 1,100
  • For balances exceeding Rs. 50,000: Rs. 1,300

SBI Cashback Credit Card Eligibility

The fundamental requirements for applying for a Cashback SBI Card include:

  1. Age between 21 and 70 years.
  2. Employment as a salaried individual or self-employed professional.
  3. A favorable credit score.
  4. A consistent income source.

Documents Required for SBI Cashback Credit Card

  1. For identification purposes, you can provide any of the following: a Driving License, Aadhar Card, PAN Card, Voter’s ID, or other valid forms of identification.
  2. To verify your address, you may submit any of the following documents: Utility bills, Aadhar cards, Driving licenses, Passports, or other acceptable forms of address proof.
  3. To demonstrate your income, please provide one of the following: the most recent three months’ bank statements, salary slips, or the most recent audited Income Tax Return (ITR).

How to apply for SBI Cashback Credit Card

Here are the revised steps for applying for a Cashback SBI Card:

Step 1: Access the SBI official website.

Step 2: Go to the ‘Credit Cards’ section and choose ‘Cashback SBI Card.’

Step 3: Click the ‘Apply Now’ button.

Step 4: Complete the online application form.

Step 5: Press ‘Submit’ to submit your application.

Step 6: Once your application is approved, the SBI Card team will reach out to you for verification. After the verification process is finalized, you will receive your Cashback SBI Card.

Frequently Asked Questions (FAQs)

1. What is the SBI Cashback Credit Card?

The SBI Cashback Credit Card is a credit card offered by the State Bank of India that provides cashback benefits on various transactions, making it a rewarding choice for cardholders.

2. How can I apply for the SBI Cashback Credit Card?

You can apply for the SBI Cashback Credit Card online through the official SBI website or by visiting the nearest SBI branch. The application process typically involves filling out a form and submitting necessary documents.

3. What are the key features of the SBI Cashback Credit Card?

The card offers cashback on specific categories of spending, such as groceries, fuel, dining, and more. It may also come with additional perks like reward points, discounts, and zero annual fees.

4. What is the cashback structure of the SBI Cashback Credit Card?

The cashback structure varies, but generally, cardholders earn a percentage of their spending back as cashback. The specific categories and cashback rates are outlined in the card’s terms and conditions.

5. Can I redeem my cashback for other rewards?

Typically, SBI Cashback Credit Cardholders have the option to redeem their cashback for various rewards, including gift vouchers, merchandise, or statement credit. The redemption process may vary, and details can be found on the SBI website.

6. Is there an annual fee for the SBI Cashback Credit Card?

The annual fee structure may vary, and some variants of the SBI Cashback Credit Card may come with no annual fees, while others may have a nominal fee. It is advisable to check the terms and conditions for the specific card variant.

7. How can I check my SBI Cashback Credit Card balance?

Cardholders can check their credit card balance through the SBI Card website, mobile app, or by contacting the SBI Card customer service. Additionally, monthly statements provide a detailed overview of transactions and balances.

8. Are there any foreign transaction fees associated with the SBI Cashback Credit Card?

It’s important to review the terms and conditions, as foreign transaction fees may apply. Some credit cards charge a percentage of the transaction amount for purchases made in foreign currencies.

9. What should I do if my SBI Cashback Credit Card is lost or stolen?

In case of loss or theft, immediately contact the SBI Card customer service to report the incident. They will guide you through the necessary steps, including blocking the card and issuing a replacement.

10. How do I pay my SBI Cashback Credit Card bill?

Cardholders can make payments through various channels, such as the SBI Card website, mobile app, ATMs, net banking, or by visiting an SBI branch. The payment options and due dates are specified in the monthly statements.