Cashback SBI Credit Card Review, Benefits and Charges

State Bank of India (SBI) has launched a new credit card named Cashback SBI Card. For the first time customer can avail 5% Cashback on every Online spends.

In this article we will discuss all the benefits, charges and eligibility criteria for the credit card. We will also look into how to apply Cashback SBI Credit Card.

Cashback SBI Credit Card Features and Benefit

Cashback Benefits

• 5% Cashback on Every Online Spend
  • This credit card is offering 5% cashback on all online spend. User can earn cashback upto ₹10,000 on every month. Therefore, a customer can spend ₹2,00,000 in every month to get the maximum benefit.
    If an user spend more than ₹2,00,000 on one month, they can avail 1% cashback thereafter.
• 1% Cashback on all offline spends
• 1% Cashback on utility bill payments
  • You can pay your electricity, telephone, mobile and other utility bills using the Easy Bill Pay facility on your CASHBACK SBI Card and get 1% cashback.

Cashback not applicable on Rent Payments, Wallet Loads, Fuel Spends, Merchant EMIs, Cash Advances, Balance Transfer, Encash & Flexipay.

Airport Lounge Access

• This cashback SBI card offers 4 complimentary domestic lounge access in a year (1 visit per quarter).

Other Benefits

• Fuel Surcharge Waiver: User can get the benefit of 1% Fuel Surcharge Waiver across all petrol pumps.
• A Cashback SBI card user can get 2 Add-on cards for the family at no additional cost.

Waiver of the fuel surcharge is allowed for transactions between ₹500 and ₹3,000. Maximum surcharge waiver of ₹100 is applicable for a credit card in a single billing statement month.

Charges of Cashback SBI Credit Card

• Joining Fee: NIL
• Annual Fee:
  • 1st year: NO fees (till March 2023)
  • 2nd Year and onwards: Rs. 999 + tax

If an user spends Rs. 2 lakh in a year, no renewal fees is needed.

Note that due a present issue with the SBI system, 999+ GST is being charged for joining. People have complaints done regarding the same and hopefully SBI will resolve the issue and refund the money back.

Eligibility Criteria for Cashback SBI Credit Card

• Occupation: Salaried/ Self Employed
• Age: requirements : 18 to 60 Years
• Good credit score.

How to apply Cashback SBI Credit Card

• You can easily apply for Cashback SBI Credit Card via sbicard.com . Before applying, keep handy your PAN, bank account details and aadhaar number.
• You need to fill up some personal details like your name, mobile number, city, PAN, dob eye.
• Next fill your professional details like your occupation, company name, designation. Finally complete the process by giving the KYC details.

Cashback SBI Card Review

Cashback SBI Card is a good credit card for the people who loves shopping using online platforms rather than shop visiting. Cashback SBI Card is offering the highest Cashback rate (5%) for all online spend unlike other co-branded credit cards which offer 5% cashback only on specific brands. Though there is a capping, but the amount of Rs.10,000 is good enough. You can spend up to Rs. 2 Lakhs a month to reach the maximum benefit.

The Cashback you earn, will be automatically transferred to your SBI card account within 2 days of your next statement generation. Hence, there is no issue about redemption.

The annual charge is on the higher side, but if you shop a lot and spend 2 Lakhs, then it may be a good choice for you.