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 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
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 Waiver | Fuel Surcharge Waiver | Fuel 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 Income | Not Specified | Not Specified | Not 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 spends | You 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 India – once 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 $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 $27 per visit) For all details, including terms and conditions, please click here – Paytm SBI Select Airport Lounges Details & T&C |
| ₹1,499 annual fee | Annual 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 insurance | You get an extra layer of protection against cyber fraud , through a complimentary cyber fraud insurance cover of ₹2,00,000. |
| 1% fuel surcharge waiver | 1% fuel surcharge waiver at all fuel stations – – Only on fuel transactions ranging from ₹400 – ₹5,000 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
- It is a good card for Paytm users – since you get upto 5% cashback on a variety of spends, plus milestone related benefits
- 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 ₹1,00,000 in the previous year.
- Renewal fee is not charged if you spend ₹2,00,000 or more in the previous year
- Hence the card has good annual fee related offers.
- You get an additional layer of security with a Cyber Fraud Insurance cover of ₹2,00,000. This insurance protects against potential financial losses resulting from cyber fraud incidents, offering peace of mind.
- Good airport lounge benefits
- 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
Features & benefits of the Paytm SBI Card SELECT
Earning & redeeming cashback : You earn ₹5 cashback, on every ₹100 you spend. This ₹5 is given to you 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 for payment at stores.
Limits on cashback : there is no limit on earning cashback
Other important points :
– 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.
Earning & redeeming cashback : You earn ₹2 on every ₹100 you spend. This ₹2 is given to you in the form of Paytm gift vouchers, into your Paytm wallet. Paytm gift vouchers can be used for any transaction done on Paytm app including recharges & bill payments, online shopping and for payment at stores.
Limits on cashback : there is no limit on earning cashback
Other important points : they are the same as given in the above section
Earning & redeeming cashback : You earn ₹1 on every ₹100 you spend.
Limits on cashback : there is no limit on earning cashback
Other important points : same as given in the above section
Complimentary airport lounge program – in India and abroad
Domestic airport lounge program :
– 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 $27 per visit.
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
Card fees and charges
Annual fee & annual fee offers
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year annual fee | ₹1,499 | Welcome offer : – You get benefits worth ₹75000, with a complimentary Paytm First Membership – 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 | ₹1,499 | Renewal fee offers : – Renewal fee is not charged from second year onwards, if you spend ₹2,00,000 or more in the previous year. – You get benefits worth ₹75000, with a complimentary Paytm First Membership – if you spend ₹1,00,000 or more in the previous year |
Late payment fee : please see below table
| Pending card statement amount | Late fee |
|---|---|
| ₹0 to ₹500 | NIL |
| ₹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 age | Salaried individuals – 21 years or above Retired pensioners – 40 years or above Self-employed individuals – 25 years or above |
| Maximum age | 70 years |
| Minimum income | Not specified |
| Occupation | Salaried or self-employed |
| Other Criteria | Regular source of income, good credit score (preferably above 750) , etc. |
Application Process & Tracking Your Application Status
| Online application process | The 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 process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Approval timeline and process | Physical 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. |
Other Cardholder Benefits
| Cyber fraud insurance | Paytm SBI Card SELECT offers Cyber Fraud Insurance cover of ₹2,00,000. The Cyber Fraud Insurance provides an extra layer of protection against potential financial losses resulting from cyber fraud incidents. Please click here for Terms & Conditions. |
| Milestone benefits | – By achieving card spends of ₹4 lakh in a year, cardholders earn ₹2000 in gift vouchers as a milestone benefit. – Cardholders who achieve card spends of ₹6 lakh in a year, earn ₹4000 in gift vouchers, further increasing their rewards. Click here for Terms & Conditions. |
| 1% fuel surcharge waiver | Applicable fuel stations and brands : Fuel surcharge waiver applies to all petrol stations. Waiver is applicable : – Only on fuel transactions ranging from ₹400 – ₹5,000 AND – Only on fuel purchases upto ₹25,000 per month (since the waiver amount is capped at ₹250 per monthly card statement cycle). – You need to meet both the above criteria to qualify for the fuel surcharge waiver |
| 24/7 customer support | Please click here for all the options to contact the bank, for various issues and escalations, including the below : – Lost and stolen cards : You can block on your mobile app or internet banking OR through SMS option OR by calling customer care – Complaints and grievances : including steps on how to escalate to higher levels in case your issue is not resolved – Raise and manage disputes – Contact information : Phone numbers , email option |
| Security Features | Chip and PIN technology – security for offline transactions : In the past, credit cards typically used a magnetic stripe located on the back of the card to store and transact data.However, the latest generation of credit cards includes a CHIP and PIN feature, which provides enhanced security. Only you know your PIN, so even your card is lost it is unlikely to be misused since BOTH the physical card and the PIN is required to spend on the card Two-factor authentication – security for online transactions : When making an online transaction, you approve your online transaction through using a One-time Password (OTP) which you get on your mobile phone .Since only you know the OTP, the card is unlikely to be misused unless someone has access to BOTH your card details AND your mobile phone.This ensures a safe online purchase experience. SMS alerts and notifications – for both offline and online transactions : For your peace of mind, you get free SMS alerts and notifications for all your credit card transactions. Hence you will know about all transactions on your card. In the unlikely scenario of your card being misused, you would still get these alerts and notifications – which will help you to immediately block your credit card. |
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 NowFAQs
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.
On this page
- Brief overview
- Pros and cons
- Detailed look at the card
- Features & benefits
- Card fees & charges
- Eligibility criteria
- Application process
- Choosing the right card
- Frequently asked questions
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