Our Money Guide

By: OurMoneyGuide || Last updated on: April 25, 2024

SBI Cashback Credit Card is one of the most popular cashback credit cards in India, offering 5% cashback on online purchases. If you are comfortable shopping online, this card can reward you on almost all your purchases. Cashback credit cards are easy to understand since the redemption process is very straightforward , the cashback amount is simply paid into your credit card statement.

Brief Summary

Our Rating
4.50 / 5

Our View :

SBI Cashback Credit Card is one of the best cashback cards available in the marketplace. It offers 5% cashback on all online spends & purchases. But this card is not suitable for those who are not comfortable doing online transactions.

on SBI Card website

CASHBACK SBI Card

Special Benefits

5% on online spends

Other Benefits

Minimum Income

Not specified

Annual Fee

₹ 999

Annual Fee Offers

Renewal fee waiver at ₹2 lakhs annual card spend

CASHBACK SBI Credit Card : Summary Table

5% cashback on online spends

1% cashback on all other spends
You earn ₹5 , on every ₹100 you spend on online transactions. You earn ₹1 , on every ₹100 you spend on all other purchases.

Exceptions : no cashback given on the following purchases & payments – rent, fuel, utility bills, insurance, wallet loads, school & educational services, jewelry, railways, EMI transactions, cash advances, balance transfer, returns & refunds.

Maximum cashback given is restricted to ₹5,000 per monthly card statement cycle. So if you use the card only in the 5% cashback category, you will get cashback on spends upto ₹1 lakh per month.
1% fuel surcharge waiverFuel surcharge waiver at all fuel stations is applicable :
– Only on fuel transactions between ₹500 and ₹3,000 AND
– On upto fuel purchases of ₹10,000 per month only (since the waiver amount is restricted to ₹100 per monthly card statement cycle)
– Both the above conditions need to be met to avail fuel surcharge waiver
₹999 annual feeAnnual fee offer
Renewal fee offer : Annual fee is not charged from the second year onwards, if you spend ₹2 lakhs or more in the previous year

Pros and Cons of CASHBACK SBI Credit Card

Pros

  • Good card for those comfortable with online shopping – high reward of 5% cashback on online purchases. Other cashback cards normally have some restrictions in terms of offering cashback only at certain stores OR only on a certain category like fuel, bill payments etc.
  • No welcome offer

Cons

  • Not a good card for those who are not comfortable with online shopping , since cashback rate of 1% is low for such purchases

Comparing with Competitor Fuel Credit Cards

Features
Flipkart Axis Bank Credit Card
Our Rating
       
APPLY NOW
Amazon Pay ICICI Bank Credit Card
Our Rating
       
APPLY NOW
HDFC Millennia Credit Card
Our Rating
       
APPLY NOW
Axis Bank Ace Credit Card
Our Rating
       
APPLY NOW
Rewards Rate 1.5% – 5%

1% – 3%

1% – 5%

2% – 5%

Other benefits Fuel Surcharge WaiverFuel Surcharge WaiverFuel Surcharge WaiverFuel Surcharge Waiver
Annual Fee ₹500

No Annual Fees

₹1,000 + Applicable Taxes

₹499

Annual Fee Offers Annual fee waived off on annual spends greater than ₹ 2,00,000.

Annual Fee Reversal on meeting ₹1,00,000 spends

Annual Fee waived off on annual spends greater than ₹. 2,00,000

Minimum Income Not SpecifiedNot SpecifiedNot SpecifiedNot Specified

Full Review of the SBI CASHBACK Credit Card

Features & Benefits of CASHBACK SBI Credit Card

5% cashback on all online purchases || 1% cashback on all other card purchases – maximum cashback given is ₹5000 per month

You earn ₹5 cashback, on every ₹100 you spend on all online purchases. You earn ₹1 cashback, on every ₹100 spent on all other card purchases. For example, if you make a purchase of ₹1000 on Amazon, you will get cashback of ₹50, but if you make a purchase of ₹1000 in a restaurant, you will get cashback of ₹10.

Cashback will be paid into your credit card statement, within 2 days of card statement generation

Maximum cashback given is ₹5000 per monthly card statement cycle. For example, if you spend only within the 5% cashback category, then you can earn 5% on purchases upto ₹1 lakh per month.

Exceptions/ important terms & conditions –
– Cashback is not eligible for following payments & spends – rent, fuel, utility bills, insurance, wallet loads, school & educational services, jewelry, railways, merchant EMIs, cash advances, balance transfer, encash & flexipay
– Non-customer initiated spends like annual fees and other fees
– No rewards on returns, refunds & cancellations – Cashback is calculated based on purchases made during the statement period minus any returns or refunds. If a purchase or transaction is returned, cancelled, or reversed after the statement generation date, cashback for that transaction will be debited on the reversal date.
– MCC Codes govern rewards on particular purchase categories: How the merchants are registered with various payment networks like Visa, Mastercard etc. determine whether the purchase is eligibile for 5% OR 1% cashback

For a full list of terms and conditions, please click here

Fuel surcharge waiver, upto ₹100 per month

SBI Card customer care

3 lifetime-free add-on cards 

Card Fees and Charges

Annual fee & annual fee offers

Annual feeAnnual fee offers
1st year joining fee₹999Nil

Sometimes the card issuer announces special annual fee offers for certain channels, like online application channel
Renewal fee from 2nd year onwards₹999Renewal fee offer : Annual fee is not charged from the second year onwards, if you spend ₹2 lakhs or more in the previous year.

Late payment fee

Please refer to the below table for details

Pending card bill amountLate fee
Less than ₹100Zero
₹100 to ₹500₹100
₹501 to ₹1,000₹400
₹1,001 to ₹10,000₹750
₹10,001 to ₹25,000₹950
₹25000 to ₹50000₹1100
Over ₹50000₹1300

Foreign currency markup fee : 3.5% of the transaction value

Finance charges : 3.65% per month (43.8% p.a.)

Important note –
– Fees and charges given above do not include GST.
– To view all/updated fees & charges on this card, please click here

Eligibility Criteria

Some basic criteria is mentioned below. Eligibility is based on multiple parameters, which is assessed by SBI Cards once you apply for the card.

Minimum ageSalaried individuals – 21 years or above
Self-employed individuals – 25 years or above
Maximum age70 years
Occupation Salaried , self-employed, retired pensioner
Income requirementsMinimum income not specified, should have regular source of income
Other criteriaGood credit score, preferably above 750

Application Process & Tracking Your Application Status

Application process and tracking application status : step-by-step guide –

Online application process 
The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the SBI Card website. You can also visit official website of SBI Card and fill out the application form.

Steps :
– Fill out the Online Application form – personal details, mobile phone number, income, Aadhar / PAN number, along with some of the documents listed below.
– Click ‘Submit’ and you will receive an instant decision on the application basis the information provided.
– If your application is approved, you will receive a call from SBI Card team for verification.
– Post necessary verification, the card is issued to you.
– You will receive your physical credit card in approximately 15 working days post submission of all the requisite documents.
– Virtual 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.
Offline (face to face)  application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Tracking your applicationYou can track the status of your application in ‘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 e-apply 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
– Address proof : Copy of Aadhaar Card or any valid government address proof
– Income documents : Salary slip, income tax return etc. (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

As you can see, your personal circumstances would dictate the best credit card for you. CASHBACK SBI Credit Card is a great card who are comfortable with online spending. However those not very comfortable with online shopping would need to look for other credit cards in the market.

Apply Now

on SBI Card website

Frequently Asked Questions

How can I apply for the SBI Cashback Card?

The easiest and most convenient option is to apply by clicking here . You can also apply on SBI Card website OR at an SBI branch. We have covered the process in detail in the above review.

What are the benefits of the SBI Cashback Card, do I get 5% cashback on all purchases?

SBI Cashback Card is a great card choice for online spends/ purchases. You get 5% cashback on online spends, on offline spends you get 1% cashback.

What are the eligibility criteria for SBI Cashback Card?

While the minimum income criteria is not specified, you should have a regular source of income, your age should be between 21 years and 70 years, you should have a good credit score (preferably above 750).

How can I track SBI Cashback Card application status?

You can easily track your application status by visiting either of these 2 pages – 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’).