SBI Simply Click, SBI Simply Save, SBI Card ELITE, Cashback SBI Card, and BPCL SBI Card are some of the popular credit cards offered by SBI. The cashback SBI card was launched in September 2022, and it became the best cashback card in India because of its “No Merchant Restriction”. Cashback SBI credit card is an SBI Lifetime Free Credit Card that does not charge any joining fees but has an annual fee of INR 999+ taxes. In this article, we will be discussing the SBI Cashback Credit Card, its fees and charges, the documentation required, and its perks and privileges.
Cashback SBI Card offers cashback for each transaction made up to 5% on all online and offline purchases. It comes with an annual charge of INR 999 that can be waived off when INR 2 lakhs or more are spent in the previous year. The cashback automatically gets credited to the cardholder’s account.
Privileges of SBI Cashback Credit Card
Below mentioned are the privileges of the SBI Cashback Credit Card:
a. Card Cashback:
- 5% Cashback on online* spends without any merchant restriction
- 1% Cashback on offline* spends
- *Cashback is not applicable on Merchant EMI & Flexipay EMI transactions and on the following categories: Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewellery, Railways, etc.
b. Hassle-Free:
Card Cashback will be auto-credited to your SBI credit Card account within a period of two working days of your next statement generation. For details, please see Cardholders T&C.
c. Spend Based Reversal:
Get the annual fees reversed when an annual expenditure of Rs.2 Lakh is made.
d. Fuel Surcharge Waiver:
- Get a waiver of 1% on Fuel Surcharge across all fuel stations in India*
- * Applicable on transactions of INR 500 – INR 3,000, exclusive of GST and other charges. Get a maximum surcharge waiver of INR 100 per statement cycle per credit card account
e. Contactless Advantage
- Fast & convenient: In order to make small purchases, there is no need to hand over the card or look for cash/coins
- You can easily make routine purchases with your Cashback SBI Card. Just tap your credit card at a secure reader to transact
- Security: This card has the added advantage of a Contactless transaction, which significantly helps in reducing the risk of loss of card and fraud due to skimming (counterfeit). Even in case the card is tapped many times by the reader, its unique security key feature of VISA Pay Wave ensures that only 1 transaction goes through, which makes it more secure.
f. Worldwide Acceptance
- Use Cashback SBI Card in over 24 million outlets across the world, which includes 3,25,000 outlets in India.
- Use the SBI card to make payments at any VISA-accepted outlet
g. Add on Cards:
With the Cashback SBI Card, one can empower his/ her family with the help of add-on cards for parents, children, spouses, or siblings above 18 years of age.
h. Get Cash on the Move:
Withdraw the cash from over 1 million VISAs across the world.
i. Utility Bill Payment Benefit:
Pay the utility bills like electricity, mobile, telephone, and other utility bills with the help of the Easy Bill Pay facility.
j. Balance Transfer on EMI:
- One can save money by paying off the outstanding balance of a credit card.
- One can transfer the outstanding balance of the credit card of another bank credit card to the Cashback SBI Card. It can be availed at a lower rate of interest and also can be paid back in EMIs.
- Using your customer ID and password to log in to sbicard.com and enjoy the benefit of this service.
EXCLUSIONS IN CASH BACK
No cashback will be provided for Fuel, Rent, Fuel, EMIs, Wallet Loads, Balance Transfer, Cash Advances, and encash & Flexi pay spends. The maximum cashback in the case of online transactions is 5%, and in the case of offline transactions, it is a 1% cashback maximum of up to INR 5,000 every month.
The below-mentioned spend categories are excluded from Cashback –
- Insurance Services
- Railways
- Quasi Cash/Member Financial Institution
- Jewellery
- Utilities
- Card, Gift, Novelty & Souvenir Shops
- School and Educational services
How do you apply for an SBI Cashback Credit Card?
Mentioned below are the steps to apply for SBI Cashback Credit Card:
Step 1: Launch the official webpage of SBI Card.
Step 2: Click on the tab “Credit Cards” and select a credit card from the list that best suits your requirements.
Step 3: Click on the tab “Apply Now” and then fill out the E-Apply Form / Online Application Form.
Step 4: Click on “Submit”.
Step 5: An instant decision will be received on the application based on the information provided.
Step 6: If the application gets approved, a verification call will be received from the SBI Card Team.
Step 7: The card would then be issued post-verification.
Documents Required
Before hitting the SBI Credit Card Apply button, an applicant should know the documents required to be uploaded along with the application, which are as mentioned below:
- Driving Licenses, Aadhar cards, PAN cards, voter’s IDs, and other forms of identification proofs are also acceptable.
- Aadhar cards, Utility bills, passports, driving licenses, and other forms of address proof are also acceptable.
- Income Proof like the recent 3 months’ bank statements, the most recent audited ITR, salary slips, etc.
Steps to Apply for an Add-On Card
SBI Add-on Card can be applied online when the primary card is applied. Also mentioned are the steps to easily apply for an SBI Add-On Card:
Step 1: Log in to the account either on the SBI’s official website or the mobile app.
Step 2: Click the tab “Services” and then click on “Add-on Card”.
Step 3: Fill out the application form.
Step 4: Submit the KYC documents.
Step 5: Post verification of the submitted KYC documents, an Add-On card will be issued.
Fees and Charges
Mentioned below are the fees and charges of Cashback card SBI:
| Fee/Charge | Amount/Rate |
|---|---|
| Joining Fee | INR 999 |
| Annual / Renewal Fee | INR 999 (Reversed on reaching annual spending of INR 2 Lakh) |
| Finance Charges | 3.5% per month (42% p.a.) |
| Late Payment Fee |
Less than INR 500: Nil INR 500 up to INR 1,000: INR 400 INR 1,000 up to INR 10,000: INR 750 INR 10,000 up to INR 25,000: INR 950 INR 25,000 up to INR 50,000: INR 1,100 Amount over INR 50,000: INR 1,300 |
