Paytm SBI credit card is a co-branded card launched in co-partnership with Paytm by SBI cards. You get a cashback of 3% on every Rs 100 spent on Paytm Mall, movies, and travel. In addition to this, you get a 2% cashback purchase made on all other categories using the Paytm App and a 1% cashback on other online and offline transactions. Furthermore, you get a complimentary subscription to Paytm First Membership and get benefits worth up to Rs 25,000. With this credit card, you get a free Paytm First Membership voucher for annual spending of Rs 1,00,000. There are various other benefits that come along with this credit card which are explained in the article below:
- Joining Fee- Rs 499 + GST
- Renewal Fee- Rs 499 + GST
- Best Suited For- Shopping
- Reward Type- Reward Points
- Welcome Benefits- Complimentary membership to Paytm First worth Rs. 899.
Rewards and Benefits
- Movie & Dining- NA
- Rewards Rate- 3% Cashback on every Rs. 100 spent on all Paytm Mall, movies, and travel. You can earn 2% Cashback on every Rs. 100 spent on all other purchases on Paytm App on this card. You can also earn 1% Cashback on every Rs. 100 spent on any other offline/online transactions.
- Reward Redemption- Redeem cashback on Paytm gift vouchers balance
- Travel- NA
- Golf- NA
- Domestic Lounge Access- NA
- International Lounge Access- NA
- Insurance Benefits- NA
- Zero Liability Protection- Covers upto Rs. 1 Lakh in case of card loss/theft.
Fees & Charges
- Spend based Waiver- NA
- Rewards Redemption Fee- ₹ 99 while redeeming specific vouchers, gifts, and cash redemption.
- Foreign Currency Markup- 3.5% of the amount transacted
- Interest Rates- 3.50% p.m. (42% p.a.)
- Fuel Surcharge- 1% fuel surcharge will be waived off at all fuel stations in India.
- Cash Advance Charge- 2.5% of the amount withdrawn, subject to a minimum of Rs. 500
- Add-on Card Fee- Nil
Product Details
- 3% Cashback on every Rs. 100 spent on all Paytm Mall, movies, and travel
- 2% Cashback on every Rs. 100 spent on all other purchases on Paytm App
- 1% Cashback on every Rs. 100 spent on any other offline/online transactions
- Complimentary Paytm First membership worth Rs 899
- Liability Protection cover of Rs 1,00,000 in case of fraudulent transaction
- Fuel surcharge waiver of 1% on fuel transactions between Rs 500 and Rs 3000
Paytm SBI Card Features and Benefits
The Paytm SBI Card is a co-branded credit card that is suitable for people who use the Paytm app for most of their online transactions. Various other features that come along with this credit card are explained below :
Welcome Benefits
You are entitled to a complimentary Paytm First membership post your first successful retail transaction on this card. You get benefits worth Rs 25,000 using this Paytm First Membership.
Renewal Benefits
Get a complimentary Paytm First Membership voucher on spending Rs. 1 lakh in a year.
Other Benefits
- You get a protection cover of Rs 1 lakh in case of any deceitful transactions reported within the pre-defined time period
- You get a 1% surcharge waiver on fuel transactions between Rs 500 and Rs 3000. The maximum surcharge waiver per statement cycle is capped at Rs. 100
Paytm SBI Credit Card CashBack
- You can earn 3% Cashback on every Rs. 100 spent on all Paytm Mall, movies, and travel using a Paytm SBI credit card.
- You can earn 2% Cashback on every Rs. 100 spent on all other purchases on Paytm App on this card.
- You can also earn 1% Cashback on every Rs. 100 spent on any other offline/online transactions.
- The cashback is not applicable on e-wallet loading transactions using this credit card.
Reward Redemption
Reward points can be redeemed on a minimum value of Rs 100 against the Paytm Gift voucher balance with the Paytm SBI credit card.
Paytm SBI Card Eligibility Criteria
The eligibility criteria required for the Paytm SBI Credit Card are as follows:
- The age of the applicant should be minimum of 18 years.
- He should be either salaried or self-employed and have a good credit score.
Documents Required
Following are the documents you need in hand to apply for the Paytm SBI Card:
- Identity Proof: Ration Card, Voter’s Id, Aadhar Card, PAN Card, etc.
- Address Proof: Aadhar Card, Ration Card, Utility bills (not older than three months), etc.
- Proof of Income: Latest bank statements/salary slips, or latest audited ITR.
How To Apply For Paytm SBI Credit Card?
The Paytm SBI Card can be applied in two ways – online and offline. To apply online, visit the SBI Card’s official website and apply for the card by filling in the digital application form. The bank officials will get in contact with you soon. Individuals can also apply online via the Paytm app. To apply offline, you can visit your nearest State Bank branch and fill in the physical application form there.
Conclusion
Paytm SBI card is a basic entry-level card for beginners with a very limited credit background. A nominal fee of Rs. 499 is charged to this credit card. The card provides you with a cashback of up to 3% on Paytm mall, movies, and travel. Along with it you also get a complimentary subscription to PayTm First membership on which you get benefits worth up to Rs 25,000. If you are a newbie, who just entering the world of credit cards then this card might just be a great option for you.
