SBI Cashback Credit Card
Joining Fee: ₹999 + GST
Renewal Fee: ₹999 + GST
Reward Type: Cashback
Welcome Benefits
Online Transactions: Earn 5% cashback.
Offline Transactions: Earn 1% cashback.
Cashback
Monthly Cashback Limit: ₹5,000 (across online and offline transactions).
Example Calculation:
Online Spend: ₹90,000 → ₹4,500 cashback.
Offline Spend: ₹60,000 → ₹600 cashback.
Total Cashback Earned: ₹5,100 (but only ₹5,000 credited due to the monthly cap).
Reward Redemption Process
Auto-Credit: Cashback is automatically credited within 2 days after the statement generation date.
Fuel Surcharge Waiver
Surcharge Benefit: 1% waiver on fuel transactions between ₹500 and ₹3,000.
Maximum Waiver: ₹100 per statement cycle.
Additional Benefits
Add-On Cards: Up to 2 free lifetime add-on cards for family members.
Contactless Payments: Enabled for transactions below ₹5,000.
Exclusions from Cashback Eligibility:
Cashback is not available for spends on the following categories
Jewelry, Rentals, Wallet Loads, Fuel, Educational Services, Insurance, Utilities, Railways, Card/Gift Shops, Quasi Cash/Member Financial Institution
Renewal Fee Waiver
Fee Waiver: Spend ₹2 lakh or more annually to waive the fee.
Summary
The SBI Cashback Credit Card by SBI Card is a strong choice for those seeking cashback rewards. It offers up to 5% cashback on online purchases and 1% on offline spending, making it ideal for instant savings on everyday transactions. While the annual fee is somewhat high, the card’s benefits, coupled with the option to waive the fee through sufficient spending, make it a worthwhile option