CASHBACK SBI Credit Card: Everything You Need to Know
The CASHBACK SBI Credit Card is one of the most popular cashback credit cards in India, offering lucrative rewards and benefits to its users. Whether you’re an avid online shopper or someone who prefers offline transactions, this card is designed to maximize your savings. In this article, we’ll explore everything you need to know about the CASHBACK SBI Card, including its features, benefits, fees, eligibility criteria, and how it compares to other best cashback credit cards in the market.
Key Highlights of the CASHBACK SBI Credit Card
- Joining Fee: Rs. 999
- Cashback Rewards: Up to 5% cashback on online purchases and 1% on offline transactions.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 500 and Rs. 3,000.
- Renewal Fee Waiver: Waived if you spend Rs. 2 lakh or more in a year.
- Global Acceptance: Accepted at over 24 million locations worldwide, including 3.25 lakh in India.
- Airport Lounge Access: Complimentary access to domestic airport lounges.
Features and Benefits of the CASHBACK SBI Credit Card
The CASHBACK SBI Credit Card is packed with features that make it one of the best cashback credit cards available. Here’s a detailed look at what it offers:
1. Cashback Rewards
- Online Purchases: Earn up to 5% cashback on all online transactions, including shopping, bill payments, and recharges. There are no merchant restrictions, making it a versatile option for online shoppers.
- Offline Purchases: Get 1% cashback on offline transactions, including utility bill payments. However, certain transactions like rent payments, wallet loads, and cash advances are excluded.
2. Fuel Surcharge Waiver
- Enjoy a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps in India. The maximum surcharge waiver per billing cycle is Rs. 100.
3. Renewal Fee Waiver
- The annual renewal fee of Rs. 999 is waived if you spend Rs. 2 lakh or more in the previous year.
4. Global Acceptance
- The card is accepted at over 24 million locations worldwide, including 3.25 lakh in India, making it a convenient option for both domestic and international use.
5. Airport Lounge Access
- Cardholders get complimentary access to domestic airport lounges, with a quarterly limit of one visit.
6. Easy Bill Pay
- Pay your mobile, electricity, and other utility bills seamlessly using the ‘Easy Bill Pay’ feature.
7. Balance Transfer on EMI
- Transfer outstanding credit card debts from other banks to your CASHBACK SBI Credit Card and repay them in EMIs at a lower interest rate.
Fees and Charges of the CASHBACK SBI Credit Card
Here’s a breakdown of the fees and charges associated with the CASHBACK SBI Credit Card:
| Fee Type | Amount |
|---|---|
| Joining Fee | Rs. 999 |
| Renewal Fee | Rs. 999 (Waived if annual spends exceed Rs. 2 lakh) |
| Finance Charges | 42% per annum |
| Late Payment Fee | Rs. 400 to Rs. 1,300 (depending on the outstanding balance) |
| Fuel Surcharge Waiver | 1% on transactions between Rs. 500 and Rs. 3,000 (Max. Rs. 100 per cycle) |
Eligibility Criteria for the CASHBACK SBI Credit Card
To apply for the CASHBACK SBI Credit Card, you need to meet the following eligibility criteria:
1. Age
- Minimum age: 21 years
- Maximum age: 60 years
2. Income Requirements
- Salaried individuals: Minimum monthly income of Rs. 20,000
- Self-employed individuals: Minimum annual income of Rs. 2.4 lakh
3. Documents Required
- Identity Proof: Aadhar Card, PAN Card, Driving License, Voter ID, or Passport.
- Address Proof: Utility bills, Aadhar Card, Driving License, or Passport.
- Income Proof: Latest salary slips, bank statements (last 3 months), or ITR (for self-employed).
How to Apply for the CASHBACK SBI Credit Card
You can apply for the CASHBACK SBI Credit Card through both online and offline methods:
Online Application
- Visit the official SBI Card website.
- Navigate to the ‘Credit Cards’ section.
- Select the CASHBACK SBI Credit Card.
- Click on ‘Apply Now’ and fill in the required details.
- Upload the necessary documents and submit your application.
Offline Application
- Visit your nearest SBI branch.
- Fill out the application form for the CASHBACK SBI Credit Card.
- Submit the form along with the required documents.
Similar Credit Cards: How Does the CASHBACK SBI Credit Card Compare?
If you’re looking for the best cashback credit card, here’s how the CASHBACK SBI Credit Card stacks up against its competitors:
| Credit Card | Key Features |
|---|---|
| CASHBACK SBI Credit Card | 5% cashback on online purchases, 1% on offline, fuel surcharge waiver. |
| Axis Ace Credit Card | 5% cashback on bill payments via Google Pay, 2% on other purchases. |
| Standard Chartered Smart | 2% rewards on all online purchases. |
| Amazon Pay ICICI Card | 5% cashback for Amazon Prime members, 3% for non-Prime members. |
Other SBI Credit Cards to Consider
If the CASHBACK SBI Credit Card doesn’t meet your needs, here are some other SBI credit cards you might want to explore:
- SBI Elite Credit Card
- BPCL SBI Card
- IRCTC SBI Card
- SBI Prime Credit Card
- SBI SimplyCLICK Credit Card
- SBI SimplySAVE Credit Card
FAQs About the CASHBACK SBI Credit Card
1. What is the joining fee for the CASHBACK SBI Credit Card?
The joining fee for the CASHBACK SBI Credit Card is Rs. 999.
2. Is there a fuel surcharge waiver on the CASHBACK SBI Credit Card?
Yes, you get a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps in India.
3. When will I receive my cashback?
The cashback is credited to your SBI Card account within two days of the next statement generation.
4. How much cashback do I get on offline purchases?
You earn 1% cashback on all offline transactions, excluding rent payments, wallet loads, and cash advances.
5. Does the CASHBACK SBI Credit Card offer airport lounge access?
Yes, you get complimentary access to domestic airport lounges, with a quarterly limit of one visit.
6. What is the renewal fee for the CASHBACK SBI Credit Card?
The renewal fee is Rs. 999, but it is waived if you spend Rs. 2 lakh or more in the previous year.
7. Can I transfer balances from other credit cards to the CASHBACK SBI Credit Card?
Yes, you can transfer outstanding balances from other credit cards and repay them in EMIs at a lower interest rate.
8. Is the CASHBACK SBI Credit Card accepted internationally?
Yes, the card is accepted at over 24 million locations worldwide.
Conclusion
The CASHBACK SBI Credit Card is undoubtedly one of the best cashback credit cards in India, offering a host of benefits like high cashback rewards, fuel surcharge waivers, and airport lounge access. Whether you’re an online shopper or someone who prefers offline transactions, this card is designed to maximize your savings. However, before applying, make sure to compare it with other credit cards to ensure it aligns with your spending habits and financial goals.
By understanding the features, benefits, and fees associated with the CASHBACK SBI Credit Card, you can make an informed decision and enjoy a rewarding credit card experience.
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