Our Money Guide

By: OurMoneyGuide || Last updated on: April 26, 2024

Paytm SBI Card SELECT is a premium co-branded card launched by SBI Card, in partnership with Paytm. It is a good card for frequent Paytm users, who use the platform for a variety of their shopping, travel and bill payment needs. You can earn 2% – 5% cashback on various purchases & payments on the Paytm platform.

Brief Summary

Our Rating
4.0 / 5

Our View :

Best for those who are frequent users of Paytm platform. You get 2% – 5% on a wide variety of purchases & payments on the popular Paytm platform.

You get milestone related benefits of upto 0.66% – in the form of gift vouchers if you achieve 2 annual spend targets of ₹4 lakhs & ₹6 lakhs.

You also get complimentary domestic airport lounge visits, once per quarter. And complimentary Priority Pass membership worth USD 99, which helps you access international airport lounges by paying USD 27 per visit.

Paytm SBI Credit Card SELECT

on Paytm secure site

Paytm SBI Credit Card SELECT

Special Benefits

2% – 5% benefit rate on Paytm spends

Other Important Benefits

Complimentary domestic airport lounge access

Minimum Income

Not specified

Annual Fee

₹1499

Annual Fee Offers

Welcome Offer worth over ₹1500

Renewal fee waiver at ₹2,00,000 annual card spend

Comparison With Other Paytm Credit Cards

Features
HDFC Paytm Card
Our Rating
       
APPLY NOW
Paytm SBI Card
Our Rating
       
APPLY NOW
Paytm SBI Card SELECT
Our Rating
       
APPLY NOW
Cashback Rates 1% – 3%

1% – 3%

3% – 5%

Other benefits Fuel Surcharge WaiverFuel Surcharge WaiverFuel Surcharge Waiver
Annual Fee ₹500 + Applicable Taxes

₹499

₹1499

Annual Fee Offers Annual Fee Reversal on meeting ₹50,000 spends

Nil

Annual Fee Reversal on meeting ₹2,00,000 spends

Minimum IncomeNot SpecifiedNot SpecifiedNot Specified

Paytm SBI SELECT Credit Card : Summary Table

5% special cashback on below Paytm spends
– Travel
– Mall
– Movie tickets
You earn ₹5 cashback, on every ₹100 you spend on Paytm transactions listed below (no limit on cashback) :
– travel (flights, train & bus) tickets on Paytm
– shopping on Paytm Mall
– movie tickets on Paytm
2% special cashback on all other Paytm spendsYou earn ₹2 cashback, on every ₹100 you spend on all other Paytm transaction (no limit on cashback). Exceptions – QR code based transactions will earn only basic benefit rate of 1% cashback.
1% basic cashback benefit on all other spends (non-Paytm spends)You earn ₹1 cashback, on every ₹100 you spend on your card,  on all other transactions (no limit on cashback)

Exceptions – no cashback is given on wallet loads and fuel purchases. For full details & all terms and conditions, please click here – Paytm SBI Card Select terms and conditions.
Milestone benefits – additional benefit of upto 0.50%-0.66% on achieving 2 yearly spend targets– You earn ₹2000 (in gift vouchers) , on achieving card spend of ₹4 lakhs in a year
– You earn ₹4000 (in gift vouchers) , on achieving card spend of ₹6 lakhs in a year

(You can choose between gift vouchers of Hush Puppies/Bata OR Pantaloons)
Complimentary access to airport lounges in Indiaonce per calendar quarter For all details, including terms and conditions, please click here – Paytm SBI Select Airport Lounges Details & T&C
Free  Priority Pass membership worth US $99You get free  Priority Pass membership for the first 2 years. Priority Pass membership gets you free international lounge access around the world. While the Priority Pass membership is free, you need to pay for each visit to the lounge (US $27 per visit)

For all details, including terms and conditions, please click here – Paytm SBI Select Airport Lounges Details & T&C
₹1,499 annual feeAnnual fee offers –
Welcome offer : You get a complimentary Paytm First Membership , when you do your first transaction on the card. You also receive ₹750 as cashback (in the form of Paytm gift vouchers) , directly in your Paytm Wallet.

Renewal offer :
– Renewal fee is not charged from second year onwards, if you spend ₹2,00,000 or more in the previous year.
– You get an e-Voucher to renew your Paytm First Membership , if you spend  ₹1,00,000 or more in the previous year
Complimentary cyber fraud insuranceYou get an extra layer of protection against cyber fraud , through a complimentary cyber fraud insurance cover of ₹2,00,000.
1% fuel surcharge waiver1% fuel surcharge waiver at all fuel stations –
– Only on fuel transactions ranging from ₹500 – ₹4000 AND
– Only on fuel purchases upto ₹25,000 per month (since the waiver amount is capped at ₹250 per monthly card statement cycle).

Pros and Cons of  Paytm SBI Card SELECT Credit Card

Pros
  • It is a good card for Paytm users – since you get upto 5% cashback on a variety of spends, plus milestone related benefits
  • Free access to airport lounges in India (1 per quarter)
  • Free Priority Pass membership worth USD 99 to access international airport lounges (but lounge visits are chargeable)
  • You get free Paytm First membership, and another ₹750 as a welcome gift.
  • You also get free Paytm First membership from the second year onwards if you spend a minimum of ₹1 lakh in the previous year.
  • Renewal fee is not charged if you spend ₹2 lakh or more in the previous year
  • You get an additional layer of security with a Cyber Fraud Insurance cover of ₹2 lakh. This insurance protects against potential financial losses resulting from cyber fraud incidents, offering peace of mind.
Cons
  • The cashback on non-Paytm purchases is quite low (1%) , so it is not a very good card for non-Paytm users
  • It is not a good card for people who prefer in-store shopping, and do not like online shopping

Comparison With Other Paytm Credit Cards

A Detailed Review of the  Paytm SBI Credit Card SELECT

Paytm SBI Credit Card SELECT

Features & benefits of the Paytm SBI Card SELECT

5% unlimited cashback on select Paytm spends – Travel || Paytm Mall || Movies

You earn ₹5 cashback, on every ₹100 you spend in these categories.

Cashback is given in the form of Paytm gift vouchers, into your Paytmwallet. Paytm gift vouchers can be used for any transaction done on Paytm app including recharges & bill payments, online shopping and more.

Important points to note-
– QR-based transactions fall under the 1% cashback category
– Cashback is not applicable for wallet load or fuel spends.
– You earn Paytm gift vouchers on minimum transaction size of ₹100.
– Paytm gift vouchers are valid for 10 years.
– For full details on all terms and conditions, please click here – Paytm SBI Card Select terms and Conditions.

2% cashback on all other Paytm spends

You earn ₹2, on every ₹100 you spend on all other Paytm spends.

Cashback is given in the form of Paytm gift vouchers, into your Paytmwallet.

1% cashback on all other card spends

You earn ₹1 on every ₹100 you spend on all other card purchases. Cashback is given in the form of Paytm gift vouchers, into your Paytmwallet.

Additional benefit of upto 0.50%-0.66% on achieving 2 yearly spend targets (milestone benefits)

Complimentary airport lounge program – in India and abroad

Domestic airport lounge program – 1 free visit per quarter
– Free visits to airport lounges in India : You get upto 4 free visits to airport lounges in India, maximum 1 time per calendar quarter.

International airport lounge program
– Free Priority Pass membership worth USD 99 : You get free  Priority Pass membership for the first 2 years. Priority Pass membership gets you free international lounge access around the world. While the Priority Pass membership is free, you need to pay for each visit to the lounge (US $32 per visit, please check Priority Pass website for latest charges).

For details on both the airport lounge programs (domestic and international), including terms and conditions, please click here – Paytm SBI Select Airport Lounges Details & T&C

1% fuel surcharge waiver, upto ₹250 per month

Complimentary credit card fraud liability cover of ₹2 lakh

SBI Card customer care

Card fees and charges

Annual fee & annual fee offers

Annual feeAnnual fee offers
1st year annual fee₹1,499Welcome offers :
– You get complimentary Paytm First Membership worth ₹75000, when you do your first transaction on the card
– You also receive ₹750 as cashback directly in your Paytm Wallet.
Renewal fee from 2nd year onwards₹1,499Renewal fee offers :
– Renewal fee is not charged from second year onwards, if you spend ₹2 lakh or more in the previous year.
– You get benefits worth ₹75000, with a complimentary Paytm First Membership – if you spend  ₹1 lakh or more in the previous year

Late payment fee : please see below table

Pending card statement amountLate fee
₹0 to ₹500NIL
₹500 to ₹1000₹400
₹1,000 to ₹10,000₹750
₹10,001 to ₹25,000₹950
₹25000 to ₹50000₹1100
Over ₹50000₹1300

Foreign currency markup fee : 3.50% of the transaction value.

Finance charges : 3.50% per month (42% p.a.)

Important note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – Paytm SBI Select Credit Card Fees & Charges

Eligibility Criteria

Minimum ageSalaried individuals – 21 years or above
Retired pensioners – 40 years or above
Self-employed individuals – 25 years or above
Maximum age70 years
Minimum incomeNot specified
OccupationSalaried or self-employed
Other CriteriaRegular source of income, good credit score (preferably above 750) , etc.

Application Process & Tracking Your Application Status

Step-by-step guide to applying for the card
Online application processThe easiest way to apply is to click here – APPLY NOW , you shall be taken to the Paytm website. You will need to log in to your Paytm account to see if you have received an offer for this credit card.
Offline (face to face)  application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Approval timeline and processPhysical credit card : Once your credit card application is approved, you will receive your physical credit card in approximately 15 working days post submission of all the requisite documents.

Virtual credit card : In addition to this, SBI Card team will send an SMS on your registered mobile number with a link to generate your e-card. With this e-card you can view your credit card details digitally, even before your physical card reaches you, and start shopping online instantly.
Tracking your application



– You can track the status of your application on ‘Track Application’ section. 
– You can see this section on the Home page (at the top section of the page titled ‘Track your application’) OR on the Eapply page (at the bottom of the page titled ‘Track Credit Card Application’).

Steps :
– Enter the application number/ reference number you would have received when applying for the card . Click on the Track button to check the status of your SBI Card application
– If you do not remember your application number/ reference number, then you have another option of retrieving your application number – by entering your first name and mobile number, and then pressing the button ‘Retrieve’.

Necessary documents and verification

Required documents 
– PAN Card
– Copy of Aadhaar Card (with first eight digits masked) or any valid government address proof
– Income documents – Salary Slip, Income tax return etc., may be required depending upon the credit card eligibility & policy.

In addition to these, you may be asked to provide additional documents. Please click here for full details.

Conclusion

In conclusion, Paytm SBI SELECT Credit Card is a good choice for frequent Paytm users, since they get 2-5% cashback on their Paytm spends, in addition to enjoying the great deals and offers on the Paytm platform. Since Paytm SBI SELECT Credit Card is a premium card, you also get lifestyle benefits such as complimentary access to airport lounges.

Apply Now

FAQs

How can I apply for a Paytm SBI Card SELECT credit card?

You can apply for a Paytm Credit Card by clicking here , or by visiting the Paytm website or mobile app. And then logging into your account to check offer eligibility.

What are the benefits of having a Paytm SBI Card SELECT credit card?

With a Paytm Credit Card, you enjoy special cashback rewards on Paytm on a variety of spends & purchases. You also enjoy other benefits like milestone rewards, airport lounge access, fuel surcharge waivers on fuel purchases at petrol pumps, welcome bonuses etc.

How can I track my Paytm SBI Card SELECT card transactions?

Log into your SBI card account to view your card’s transaction details. This includes the transaction date, merchant name, and amount spent.

Can I use my Paytm SBI Card SELECT card for international transactions?

Yes you can use your Paytm card for international transactions. However please do check on the fees & charges on international transactions.