SBI Customers Are Enjoying These Bumper Benefits With Cashback SBI Card, Get Details Here

If you are an SBI bank customer and have an SBI card, do you know that the lender has introduced Cashback SBI Card to the SBI Card lineup? The Cashback SBI Card users are massively benefitting from the launch of this card as this credit card offers amazing cashback rewards on every transaction.

What does the Cashback SBI Card offer?

Up to 5% cashback is available on all online and offline purchases. The amount received from this cashback is credited directly into your account. Apart from this the card also gives a discount on fuel. You will receive get 1% Fuel Surcharge Waiver across all Petrol Pumps in India on fuel transaction amounts ranging from Rs 500 to Rs 3,000. Maximum surcharge waiver of Rs 100 per billing statement, per credit card account is applicable.

Cashback SBI Card powered by Visa contactless technology is a fast and convenient way to pay for everyday purchases. The annual fee is Rs 999, but spending Rs 2 lacs or more in the preceding year grants a waiver.
If you are thinking about the eligibility criteria to become a cashback SBI Card holder, the answer is primary cardholder must be aged between 21 and 65 years. A stable and verifiable source of income is required. A favorable credit history is necessary for the applicant.

Card Cashback will be auto-credited to your SBI Card account within two working days of your next statement generation.

Distinct Features of Cashback SBI Card:

• 5% Cashback on online spends without any merchant restriction
• 1% Cashback on offline spends
• Reversal of Renewal Fee on annual spends of Rs.2 Lakh
• 1% Fuel Surcharge Waiver across all petrol pumps in India

One must note that this Cashback is not applicable on Merchant EMI & Flexipay EMI transactions and on the following categories: Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewelry, Railways etc.

The cashback limit is set at Rs 5000 per month/billing cycle. Once this threshold is reached, whether through online or offline purchases combined, no further cashback will be accrued on additional spending.

Joining Fee:

Joining Fee (one-time): Rs. 999
Renewal Fee (Per Annum): Rs. 999 from the second year onwards. Renewal Fee reversed if annual spends for last year >= Rs. 2,00,000.

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.

Balance Transfer on EMI

Save money while paying your credit card dues.
Transfer the outstanding balance of other bank credit cards to your CASHBACK SBI Card, and avail a lower rate of interest and pay back in EMIs.

Calculating 5% cashback for the Cashback SBI Card?

The Cashback SBI Card does not directly offer a flat 5% cashback on spending. Rather, the calculation uses a distinct approach. For instance, if the Cardholder spends 45,000 in a billing statement per month with the following break up of spends. Online spends: Rs 35,000 | Offline spends: Rs 10,000 Of the said Online Spends, Rs 10,000 was an EMI purchase. Thus, the total spends eligible for cashback would only be Rs 10,000 + Rs 35,000 - Rs 10,000 (EMI transaction) = Rs 35,000. The cashback for the billing statement month in the example would be calculated as follows: 5% of Rs 25,000 = Rs 1,250 1% of Rs 10,000 = Rs 100 Thus, the total cashback for the example would be Rs 1250+ Rs100 = Rs 1,350