Cashback SBI Credit Card, Rewards and Benefits, Joining Fees & amp; Charges, Apply Online
Cashback SBI Credit Card: HDFC Bank and Paytm have joined forces to introduce a co-branded credit card, promising a fusion of digital convenience and rewarding benefits for users. This collaboration merges HDFC Bank’s banking proficiency with Paytm’s digital payment prowess to deliver exclusive cashback deals, reward points, and special offers across a spectrum of transactions, spanning from shopping to dining and utility payments. The card is anticipated to seamlessly integrate with Paytm’s ecosystem, facilitating effortless redemption of rewards and access to additional services through the Paytm app. Equipped with contactless payment functionality and backed by a robust customer support system, the HDFC Bank-Paytm co-branded credit card aims to offer modern consumers heightened convenience, security, and value.
| Fees | Joining Fee- Rs. 999 + GST Renewal Fee- Rs. 999 + GST |
| Best Suited For |
Shopping | Food |
| Reward Type | Cashback |
| Welcome Benefits | NA |
Rewards and Benefits
Exploring the Unique Benefits of the Cashback Card:
Introducing the Cashback Card, a financial companion designed to reward your spending habits with unparalleled cashback benefits. Let’s delve into the distinctive features of this card, highlighting its advantages and protection measures:
Cashback Rewards:
- Earn 5% cashback on every online transaction, amplifying your savings with each digital purchase.
- Enjoy 1% cashback on all other offline transactions, ensuring rewards on both online and offline spending.
- Maximize your benefits with a cap of Rs. 5000 cashback in a single statement cycle, allowing you to reap substantial rewards.
Reward Redemption:
- Seamlessly redeem your earned cashback as it automatically credits to your next month’s statement, simplifying the redemption process and ensuring hassle-free utilization of rewards.
Zero Liability Protection:
- Rest assured knowing that you are shielded from any fraudulent transactions with the card’s Zero Liability Protection feature.
- In the event of your card being lost or stolen, promptly report it to the bank to mitigate any unauthorized transactions, safeguarding your finances and peace of mind.
Is This The Right Card For You?
- Assess your spending patterns and determine if the Cashback Card aligns with your lifestyle and financial objectives.
- If you frequently make online purchases and seek to maximize cashback rewards, this card offers significant value.
- However, if you prioritize travel benefits or other perks like lounge access and insurance, you may find other credit card options more suitable for your needs.
Embrace the Cashback Card and unlock a world of savings with every transaction. Apply now and embark on a journey towards financial empowerment and rewarding experiences.
Fees & Charges
- Spend Based Waiver:– Enjoy the flexibility of having your annual fee waived by simply spending Rs. 2,00,000 or more in the previous year, ensuring that your loyalty and usage are rewarded with cost-saving benefits.
- Rewards Redemption Fee:– Experience seamless rewards redemption with no additional fees, allowing you to maximize the value of your earned rewards without any deductions.
- Foreign Currency Markup:– Avail the convenience of international transactions with a nominal foreign currency markup of 3.5%, ensuring hassle-free payments during your overseas travels or online purchases in foreign currencies.
- Interest Rates:– Benefit from competitive interest rates, with a monthly interest rate of 3.5% (equivalent to 42% per annum), providing financial flexibility while managing your outstanding balances.
- Fuel Surcharge:– Enjoy a 1% fuel surcharge waiver on transactions ranging from Rs. 500 to Rs. 3,000 at petrol pumps across India, with the waiver capped at Rs. 100 per statement cycle, helping you save on fuel expenses with every fill-up.
- Cash Advance Charges:– Access cash conveniently with cash advance charges set at 2.5% of the withdrawn amount or a minimum charge of Rs. 500, ensuring access to funds when needed while maintaining cost-effectiveness.
- Add-on Card Fee:– Extend the benefits of your Rewards Card to your loved ones with no additional cost, as the card offers a complimentary add-on card facility, allowing you to share the perks with family members or trusted individuals.
Product Details
Experience the power of cashback with the SBI Cashback Card, a sought-after offering from SBI Card. This card lives up to its name, rewarding users with cashback on every transaction, making it a hassle-free choice without the need to track reward points. Priced at an annual fee of Rs. 999, this fee can be waived off by spending Rs. 2 Lakhs or more in the preceding year.
- Online spenders rejoice, as the SBI Cashback Card offers an impressive 5% cashback on all online transactions, with a maximum cashback of Rs. 5,000 per month. For offline purchases, you still enjoy a solid 1% cashback on every transaction. What’s more, the cashback is seamlessly credited back to your account, making it a seamless and rewarding experience.
- But that’s not all – the benefits extend further. With this card, you also enjoy a fuel surcharge waiver of 1%, capped at Rs. 100 per month, adding more value to your everyday expenses.
- Considered by many as an entry-level card, the SBI Cashback Card is a veteran in its own right, offering a blend of simplicity and rewards. Dive into our comprehensive review to explore its features and benefits in detail.
Pros/Cons
Pros:
- Generous Cashback Rates:
- Enjoy a substantial 5% cashback on online transactions and 1% cashback on offline spends, ensuring significant savings with every purchase.
- High Monthly Cashback Cap:
- Benefit from a generous monthly cashback cap of Rs. 5,000, providing ample opportunities to maximize your rewards compared to other cashback cards.
- Ideal for Online Spending:
- With its lucrative 5% cashback on online transactions, the Cashback Plus Card stands out as a preferred choice for online shoppers, offering higher rewards than most cashback cards.
Cons:
- Exclusions from 1% Cashback:
- Certain categories may be excluded from earning the 1% cashback, potentially limiting the overall rewards accumulation.
- Challenge in Meeting Spend-based Waiver:
- It may be challenging to reach the spend-based waiver threshold, especially since many major spend categories do not accrue cashback, necessitating careful planning and spending management.
- Discontinuation of Lounge Access:
- The complimentary lounge access feature has been discontinued on the card, which may disappoint customers seeking additional travel perks.
- Lack of Instant Discounts during Online Sales:
- Unlike some other cards, the Cashback Plus Card does not offer instant discounts during online sales, which may be a drawback for those seeking immediate savings.
Navigate the Rewards Landscape with the Cashback Plus Card:
- Embrace the benefits of the Cashback Plus Card, leveraging its competitive cashback rates and high monthly cap to enhance your spending journey.
- Despite some limitations, the card remains a valuable tool for maximizing rewards, particularly for avid online shoppers seeking significant cashback returns.
- Evaluate your spending patterns and preferences to determine if the Cashback Plus Card aligns with your financial goals and lifestyle needs.
Unlock the potential of the Cashback Plus Card and embark on a journey of savings and rewards. Apply now and experience a new level of financial empowerment.
Cashback SBI Credit Card Features & Benefits
Discover the Cashback SBI Card, an exceptional offering from SBI Bank designed to elevate your rewards game. With an impressive cashback reward rate, this card is your ticket to earning substantial cashback on every transaction. Let’s delve into the comprehensive features and benefits of this enticing card:
1. Lucrative Cashback Rewards: The Cashback SBI Card boasts an attractive cashback reward rate, ensuring that cardholders reap generous rewards with every swipe.
2. Varied Transaction Benefits: Whether you’re making online purchases or offline transactions, this card has you covered. Enjoy enticing cashback rewards across all spending categories, making every purchase more rewarding.
3. Maximum Monthly Cashback: With the Cashback SBI Card, there’s no limit to how much cashback you can earn. Benefit from a generous maximum monthly cashback limit, allowing you to earn rewards to your heart’s content.
4. Hassle-Free Redemption: Say goodbye to the complexities of reward points. With the Cashback SBI Card, cashback is automatically credited to your account, ensuring a seamless and hassle-free redemption process.
5. Additional Perks: Beyond cashback rewards, this card offers a range of additional benefits to enhance your overall experience. From fuel surcharge waivers to exclusive discounts and offers, unlock a world of perks with the Cashback SBI Card.
Experience the ultimate in cashback rewards and convenience with the Cashback SBI Card. Explore the myriad benefits and elevate your spending journey today.
| Transactions | Cashback |
| Online | 5% |
| Offline | 1% |
Cashback Calculation
Experience the convenience of cashback rewards with the Cashback SBI Card, where your spending earns you valuable returns. Let’s dive into how your cashback is calculated:
Suppose you indulge in online transactions totaling Rs. 90,000, qualifying for an enticing 5% cashback rate. Additionally, you engage in offline transactions amounting to Rs. 60,000, eligible for a 1% cashback rate.
Here’s the breakdown:
- 5% of Rs. 90,000 = Rs. 4,500
- 1% of Rs. 60,000 = Rs. 600
While the total combined spending amounts to Rs. 1,50,000, exceeding the monthly cashback cap, you will receive the maximum cashback of Rs. 5,000 per month, ensuring you enjoy the full benefits of your transactions.
Annual Fee Waiver
The Cashback SBI Card offers you the opportunity to waive the annual fee of Rs. 999 by simply spending Rs. 2 Lakhs or more within the preceding year, making it a rewarding choice for your financial needs.
Fuel Surcharge Waiver
Enjoy the added advantage of a 1% fuel surcharge waiver on transactions ranging from Rs. 500 to Rs. 3,000 at petrol pumps nationwide, with a maximum waiver of Rs. 100 per statement cycle, ensuring savings on your fuel expenses.
Other Benefits
In addition to cashback rewards and fee waivers, the Cashback SBI Card provides numerous benefits, including:
- Lifetime free add-on cards for up to 2 family members, extending the perks of your card to your loved ones.
- Convenient contactless payments for transactions under Rs. 5,000, enhancing your payment experience with ease and efficiency.
Reward Redemption
With the Cashback SBI Card, your earned cashback is automatically credited within two days of the subsequent statement generation, ensuring timely rewards for your spending.
Exclusions on Cashback
Certain spend categories are excluded from cashback eligibility, including jewelry, rental services, wallet transactions, fuel purchases, educational and insurance services, utilities, railway expenses, as well as purchases from card, gift, novelty, souvenir shops, and quasi cash transactions from financial institutions.
Experience the seamless blend of rewards and convenience with the Cashback SBI Card, where every transaction brings you closer to valuable returns.
Cashback SBI Card Fees and Charges
Credit cards offer convenience and flexibility, but it’s essential to be aware of the associated charges. Here’s a breakdown of the key charges applicable to the Cashback SBI Credit Card:
Joining & Renewal Fee: To access the benefits of the Cashback SBI Credit Card, a joining and renewal fee of Rs. 999 is applicable.
Spend-Based Reversal: Renewal fees can be reversed upon reaching an annual spend milestone of Rs. 2 lakhs, offering an incentive for active card usage.
Interest Charges: Interest charges on outstanding balances are set at 3.5% per month, translating to an annual percentage rate (APR) of 42%, emphasizing the importance of timely payments to avoid accruing high-interest costs.
Cash Advance Fee: For cash withdrawals made using the card at ATMs, a fee of 2.5% of the withdrawal amount or a flat fee of Rs. 500, whichever is higher, is applicable, highlighting the relatively high cost associated with cash advances.
Foreign Currency Markup: Transactions made in foreign currency incur a markup fee of 3.5%, reflecting the additional cost of international transactions.
Late Payment Charges: Late payment fees vary based on the outstanding dues:
- Dues less than Rs. 500: Nil
- Dues between Rs. 500 and Rs. 1,000: Rs. 400
- Dues between Rs. 1,000 and Rs. 10,000: Rs. 750
- Dues between Rs. 10,000 and Rs. 25,000: Rs. 950
- Dues between Rs. 25,000 and Rs. 50,000: Rs. 1,100
- Dues exceeding Rs. 50,000: Rs. 1,300
These charges serve as important considerations for responsible credit card usage, emphasizing the need for timely payments and prudent financial management to minimize costs and maximize the benefits of the Cashback SBI Credit Card.
CashBack SBI Credit Card Eligibility Criteria
Unlocking the realm of cashback rewards, the Cashback SBI Credit Card stands as a beacon of financial empowerment. But before diving into its enticing benefits, let’s explore the eligibility criteria necessary to embark on this rewarding journey:
Age Requirement: To qualify for the Cashback SBI Credit Card, the primary cardholder must be between the ages of 21 and 65, ensuring a wide range of applicants can access its benefits.
Stable Income Source: Applicants are required to demonstrate a stable source of income, affirming their ability to manage credit responsibly.
Decent Credit History: A sound credit history is imperative, reflecting responsible credit behavior and ensuring a seamless approval process.
Now, let’s unravel the pathway to acquiring this coveted card through simple application steps:
Online Application Process:
- Click on the “Apply Now” button located on the designated webpage, initiating the application process.
- Proceed by diligently filling in all requisite details, ensuring accuracy and completeness to expedite the application review.
Alternatively, for those preferring the traditional route:
Offline Application: Visit the nearest SBI branch to obtain the requisite application form. Complete the form meticulously, providing accurate information to facilitate processing.
With the application submitted, it’s time to explore other credit card options akin to the Cashback SBI Credit Card:
Axis Bank Ace Credit Card: In collaboration with Visa and Google Pay, the Axis Bank Ace Credit Card capitalizes on digital payment trends, offering enticing rewards such as 5% cashback on utility bill payments via Google Pay and 4% cashback on partner merchants like Ola and Zomato.
HDFC Bank Millennia Credit Card: Tailored for millennials, the HDFC Bank Millennia Credit Card offers lucrative rewards such as 5% cashback on select merchants and 1% cashback on other transactions, along with exclusive benefits like lounge access and dining privileges.
SBI SimplyClick Credit Card: Ideal for novice users, the SBI SimplyClick Credit Card provides generous rewards such as 10x reward points on popular online merchants and Rs. 4000 worth of vouchers annually, making it a compelling choice for digital-savvy individuals.
In Review: The SBI Cashback Credit Card emerges as a stellar contender in the realm of cashback rewards, offering up to 5% cashback on online spends and 1% on offline transactions. While the annual fee may seem slightly steep, the accompanying benefits and fee waivers justify its value proposition, making it an attractive option for those seeking instant savings.
Share your thoughts on this card and whether you plan to apply for it in the comments section below, as we navigate the landscape of financial empowerment together.
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