Indian credit card issuer SBI Card has announced the launch of the ‘CASHBACK SBI Card’ in India. The ‘CASHBACK SBI Card,’ the first of its kind and the most comprehensive Cashback credit card in India, has been announced by SBI Card.
Cardholders can earn 5% cashback on all online spends, regardless of merchant, with the CASHBACK SBI Card, which the company claims is the first cashback-focused credit card in the industry.
The card’s onboarding process is quick, seamless, and entirely digital, making it appealing to customers from the mass market to the upper echelons of the premium market.
Digital application platform ‘SBI Card SPRINT’ makes it possible for customers in Tier 2 and Tier 3 cities across India to obtain a CASHBACK SBI Card in minutes without leaving the convenience of their own homes.
Until March 2023, you can get your hands on a contactless card for free for the first year. Customers who use the CASHBACK SBI Card will get a flat 1% cashback on all purchases, forever. You’ll get a 5% cashback on all your online purchases, up to a maximum of Rs 10,000 per billing cycle. Customers are not limited to purchasing from a select group of stores, as the programme is “merchant agnostic.” The cashback that you are entitled to will be credited to your SBI Card account automatically within two days of the statement being generated thanks to the auto-credit of cashback facility that comes with your CASHBACK SBI Card.
Rama Mohan Rao Amara, MD & CEO, SBI Card, commented on the launch, saying, “CASHBACK SBI Card will further strengthen our core card portfolio. This item is representative of our ongoing work to meet the changing demands of our clientele. In the course of our various initiatives, we meticulously measured cardholders’ propensity for cashbacks and online purchases.
In this spirit, we’ve developed the CASHBACK SBI Card, which allows cardholders to earn cash back on all purchases, regardless of where they were made. The timing of the release of this special card couldn’t be better, as customers will be able to fully take advantage of its benefits all year round, not just during the upcoming holiday season.
The CASHBACK SBI Card’s features extend far beyond its cashback rewards. Every year, cardholders are entitled to four free visits to a domestic airport lounge (one visit per quarter). In addition, for purchases between Rs 500 and Rs 3,000, cardholders will not be charged a 1% fuel surcharge, up to a maximum of Rs 100 per billing statement month.
Each year, you’ll be charged Rs 999 (plus tax) to renew your card. When a CASHBACK SBI Cardholder spends Rs 2 lakh in a membership year, the annual renewal fee is waived. The CASHBACK SBI Card can be used with any merchant accepting VISA.
Benefits of CASHBACK SBI Card
- Card Cashback
- 5% Cashback on every* online spend without any merchant restriction
- 1% Cashback on all* offline spends and utility bill payments
- *Cashback not applicable on Rent Payments, Wallet Loads, Merchant EMIs, Cash Advances, Balance Transfer, Encash & Flexipay.
- Click here to know more details about Card Cashback
- Hassle free
- Card Cashback will be auto-credited to your SBI Card account within two days of your next statement generation. For details, please see Cardholders T&C (Link)
- No Joining Fee
- Enjoy all the privileges for the first year absolutely free.
- Spend Based Reversal
- Reversal of Renewal Fee on annual spends of Rs.2 Lakhs
- Complimentary Domestic Lounge
- 4 complimentary Domestic Airport Lounge visits in a year (1 visit per quarter)
- For list of lounges, click here. Visa reserves the right at any time, without prior notice to add, alter, modify or change list of lounges under this program applicable for CASHBACK SBI Card
- Fuel Surcharge Waiver
- 1% Fuel Surcharge Waiver across all petrol pumps in India*
- Contactless Advantage
- Daily purchases now made easy with CASHBACK SBI Card. Simply tap your card at a secure reader to transact
- Fast & convenient: No need to hand over your card or look for cash / coins for everyday small ticket purchases
- Security: The card never leaves your hand during a Contactless transaction, significantly reducing the risk of card loss and fraud due to skimming (counterfeit). Even if the card is tapped multiple times at the reader, the unique security key feature of VISA PayWave will ensure that only one transaction goes through, thus making it more secure
- Please click here to download the FAQ’s
- Please click here to download the list of Merchants enabled for transactions.
- Worldwide Acceptance
- You can use your CASHBACK SBI Card in over 24 million outlets across the globe, including 3,25,000 outlets in India
- Use your card to make payments at any outlet that accepts VISA
- Add-on Cards
- With CASHBACK SBI Card, you can empower your family with add-on cards for your parents, spouse, children or siblings above the age of 18
- Cash on the Go
- Withdraw cash from over 1 million VISA across the globe
- Utility Bill Payment Facility
- Pay your electricity, telephone, mobile and other utility bills using the Easy Bill Pay facility on your CASHBACK SBI Card
- Click here to know more
- Balance Transfer on EMI
- Save money while paying your credit card dues.
- Transfer the outstanding balance of other banks’ credit cards to your CASHBACK SBI Card, and avail a lower rate of interest and pay back in EMIs
- Log on to sbicard.com with your user ID and password to take benefit of this service
- Click here to know more about Balance Transfer on EMI
