Recently, the American Express and Standard Chartered Banks launched exclusive offers providing up to 10,000 Reward Points and accelerated (5x) points respectively on insurance payments. Now, the SBI Card has also come up with a similar offer with an aim to provide its customers with a rewarding experience of insurance premium payments. The SBI Card customers can now avail of flat Rs. 500 cashback on insurance payments made during the offer period, i.e, from January 20, 2022, to February 18, 2022. To understand the offer and its terms & conditions in detail, go through the complete article:

sbi credit card offers on insurance payment

The Offer

The SBI Credit Cardholders can earn Rs. 500 cashback on making insurance premium payments using their SBI Credit Card. The minimum transaction value that is eligible for the offer is Rs. 10,000 and the maximum cashback is capped at Rs. 500 per card. The offer will be valid on all the eligible transactions made via the SBI Card mobile app/website or Chatbot ILA. Moreover, it will only be applicable to the insurance billers that are available on the SBI Card platform and standing instructions will not be eligible for the cashback.

Offer Period: January 20, 2022, to February 18, 2022.

How To Avail The Offer:

1. Through the SBI Card Website:

-Login to your SBI Card account.
-Click on ‘Utility Bill Payments’ and then ‘Pay Now’ and proceed.
-Select the ‘Insurance’ category.
-Enter the required details and proceed to pay.

2. Through The SBI card Mobile App:

-Login to your account.
-Click on ‘E-store’ and then on ‘Bill Payment and Recharge’ and proceed.
-Select the insurance category.
-Fill in all the details and pay.

3. Through Chatbot ILA:

-Choose the option ‘Bill Pay & Recharge.’
-Click on ‘Login here’ and log in using your user id and password.
-Search the biller, select the ‘Insurance’ category and then select biller.
-Enter the required details and pay the premium.

Offer Terms & Conditions

  • The offer is valid only on the insurance premium payment made via the SBI Card platform (mobile app/website/chatbot ILA).
  • The offer will only be applicable on transactions worth Rs. 10,000 or more.
  • The offer is not valid on SI (Standing Instructions) transactions.
  • The offer can be availed only once by every SBI credit cardholder.
  • The offer is only applicable to the billers that are available on the SBI Card platform.
  • The earned cashback will be credited to the eligible cardholders’ accounts on April 22, 2022.
  • Cardholders are not bound in any manner to participate in the offer.
  • The SBICPSL reserves the right to disqualify any cardholder from the offer if any suspicious activity has been noticed on her/her account.
  • The SBICPSL reserves the right to modify, change or cancel the offer anytime.

For detailed terms and conditions, you can visit this page.

Bottom Line

With this cashback offer on insurance premium payments, the card issuer is aimed at providing a great saving opportunity to its credit cardholders. You can save Rs. 500 on spending Rs. 10,000 on insurance payments using your SBI Card, which is not really a bad deal. A similar offer was also launched by American Express, providing up to 10,000 points on insurance payments using AmEx Cards, and by the Standard Chartered Bank, providing 5x reward points on insurance payments using SC Credit cards. If you are an SBI credit cardholder, you should try to grab this cashback. Just make sure to go through the terms & conditions of the offer before proceeding further.

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