Cashback credit cards are a great way to earn money back on your everyday purchases. When you use a cashback credit card, you can earn a percentage of your spending back as a cash reward, which can add up to significant savings over time. These cards often come with additional perks such as rewards for specific categories and other benefits.

The SBI Cashback Card offers hassle-free cashback on every eligible transaction made. This card is famous among millennials and Gen-Z for its numerous benefits and is particularly ideal for online shopping. The SBI Cashback Card provides cashback for both online and offline transactions. The cashback earned will be credited to the cardholder account within 2 days of the statement generation. Keep scrolling to learn more about the SBI Cashback Card.

SBI Cashback Card

Features of the Cashback Card

The SBI Cashback Card offers many features that make it popular with users. Learn about these features in detail.

Cashback on Online/Offline Transactions

The SBI Cashback Card offers 5% cashback on eligible online transactions and 1% cashback on offline purchases. The maximum cashback earned on both online and offline spending is ₹5,000 per month. After reaching that amount, a cardholder cannot earn more cashback. The cashback earned will be automatically credited to the cardholder’s account within 2 days of the next statement generation.

One thing to remember while making transactions is that there are categories on which cashback cannot be earned. Transactions on jewelry, rent, wallets, utilities, insurance, school and educational services, railways, novelty and souvenir shops, etc., are some of the spending categories on which no cashback can be earned.

Fuel Surcharge Waiver

With the SBI Cashback Card, users will receive a 1% fuel surcharge waiver on transactions made between ₹500 and ₹3,000 at all fuel stations in India. The maximum waiver that can be claimed per month is ₹100.

Complimentary Add-on Cards

The SBI Cashback Card offers two complimentary add-on cards for family members, provided at no extra cost for a lifetime. This means you can share the benefits of your SBI Cashback Card with your family members by giving them their own add-on cards. They can use these add-on cards to make purchases and earn cashback just like the primary cardholder. This feature allows your family members to enjoy the perks and benefits of the SBI Cashback Card, making it a convenient and cost-effective choice for your entire family.

Affordable Fees

The SBI Cashback Card has an affordable fee of ₹999 (joining and annual). However, the annual fee can be waived if you spend ₹2 lakhs or more in the previous year. This means that if you are a regular spender, you have the opportunity to avoid paying the annual fee, making the card even more cost-effective.

Is it the Ultimate Cashback Credit Card?

The SBI Cashback Card offers attractive benefits, such as cashback on both online and offline transactions, a fuel surcharge waiver, and complimentary add-on cards for family members. However, whether it is the ultimate credit card depends on individual preferences and spending habits.

While the cashback rates are competitive, especially for online transactions, some other credit cards may offer higher cashback rates or additional benefits in specific categories such as travel or dining. Additionally, the eligibility criteria, joining and annual fees, and the availability of welcome bonuses and other perks should also be considered when determining if the SBI Cashback Card is the ultimate credit card for you. The decision of whether the SBI Cashback Card is the ultimate credit card depends on your spending habits, lifestyle, and the specific features and benefits that matter most to you. However, it can be said that for an annual fee of ₹999, the SBI Cashback Card can be considered one of the best cashback cards in India.

A person who spends approximately ₹20,000 per month on online transactions will get ₹1,000 as cashback. So, if you spend ₹20,000 every month, that is ₹2,40,000 yearly, meaning you’ll get ₹12,000 as cashback yearly, which is a pretty good deal.

Comparing the SBI Cashback and Flipkart Axis Bank Credit Card

Category SBI Cashback Card Flipkart Axis Bank Credit Card
Joining/Annual Fee ₹999 + GST ₹500 + GST
Reward Rate
  • 5% cashback on online transactions
  • 1% cash back on offline transactions
  • 5% cashback on Flipkart
  • 4% cashback on preferred partners ( Swiggy, Uber, PVR, etc)
  • 1% cash back on other spends
Welcome Benefits N/A
  • ₹500 worth of Flipkart vouchers on the first transaction
  • 50% off up to ₹100 on first order from Swiggy
Movie/Dining N/A 15% off at partnered restaurants under Dining Delight’s Program
Travel Benefits N/A 1 complimentary airport lounge visit every quarter
Spend-Based Waiver ₹2,00,000 ₹3,50,000

Bottom Line

The SBI Cashback Card offers an easy way to earn cashback on both online and offline transactions, making it a convenient choice for everyday purchases. With a hassle-free cashback structure and benefits such as fuel surcharge waivers and affordable fees, this card provides various advantages for users.

There is another cashback card that has been recently revamped, the Swiggy HDFC Bank Credit Card, where now the cashback is directly credited to the card. This card has a cheaper joining and annual fee and even offers introductory benefits to its users. However, it is most suited for transactions made on Swiggy, whereas the SBI Cashback Card is an all-rounder card.

Before choosing a credit card, it’s important to compare it with other available options to ensure it meets your preferences. The SBI Cashback Card can be the best addition to your wallet, but only after considering all the advantages and limitations before deciding to apply for this card.

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