The allure of cashback is undeniable. Every swipe or tap that translates into real, cold ₹ in your pocket feels like winning a mini-lottery. SBI Cards, a major player in India’s credit card arena, tempts customers with generous cashback offers on both online and offline transactions.

Do you love shopping online and offline? Do you want to save money while spending on your favourite brands and products? If yes, then you might be interested in the Cashback SBI Card, a credit card that offers you a flat 5% cashback on all transactions done online and 1% cashback on all transactions done offline. Sounds amazing, right? But before you get swept away by the promise of riches, let’s take a critical look under the hood.


What is the Cashback SBI Card?

Cashback SBI Card is a credit card issued by SBI Card, a joint venture between State Bank of India and GE Capital. It is designed for people who shop frequently online and offline, and want to earn cashback on their purchases. The card has a one-time joining fee of ₹999 and an annual renewal fee amounting to ₹999, which would be reversed if you spend ₹2 lakh or more in a year. The card also offers other benefits such as fuel surcharge waiver, airport lounge access, and easy balance transfer.

Here’s what SBI Cashback Cards offer:

  • 5% Cashback on Online Spends: From streaming subscriptions to flight bookings, online purchases unlock a 5% cashback bonanza. No merchant restrictions – simply swipe and reap the rewards.
  • 1% Cashback on Offline Spends: Grocery bills, fuel top-ups, even that impulsive street food splurge – your everyday offline transactions earn a modest 1% cashback. Every little bit counts, right?
  • Spending Milestones and Bonus Rewards: Cross pre-defined spending thresholds and unlock additional cashback boosters, potentially sweetening the deal even further.


How to earn cashback with a Cashback SBI Card?

With the Cashback SBI Card, you can earn cashback on every transaction you make, without any restrictions on merchant or category. Here is how it works:

  • You get 5% cashback on all your online transactions, such as shopping, travel, food delivery, bill payments, etc. The cashback is applicable, regardless of any website or app, regardless of the brand or product. For example, you can earn cashback on Amazon, Flipkart, Myntra, Swiggy, Zomato, MakeMyTrip, BookMyShow, and many more.
  • You get 1% cashback on all of your offline transactions, such as shopping at stores, restaurants, petrol pumps, etc. The cashback is applicable, regardless of any merchant or outlet, across India. For example, you can earn cashback at Big Bazaar, Reliance Fresh, Domino’s, Pizza Hut, HP, Indian Oil, and many more.
  • The cashback is calculated on the transaction amount, excluding GST and other charges. The cashback is credited to your SBI Card account within two working days of when you generate your next statement. The cashback is not applicable on rent payments, wallet loads, merchant EMIs, fuel spends, balance transfer, cash advances, encash, and flexipay.

But hold on, there’s a caveat! Every reward program comes with its own set of rules, and SBI Cashback Cards are no exception:

  • Capped Rewards: The ₹5,000 monthly cashback limit might dampen your enthusiasm for that shopping spree. Remember, once you hit the cap, the magic stops until the next statement cycle.
  • Excluded Categories: Essential expenses like utility bills, insurance payments, and rent sadly don’t contribute to your cashback kitty. So, that rent payment, however hefty, won’t earn you any rewards.
  • Annual Fees and Interest Rates: Don’t forget the lurking monsters of annual fees and interest rates. Scrutinise these charges before applying, as they can easily erode your hard-earned cashback.

The fees and charges of Cashback SBI Card are as follows:

Fees and charges Details
Joining fee ₹999 (one-time)
Renewal fee ₹999 (per annum, reversed if annual spends for the last year >= ₹2 lakh)
Add-on charges Zero
Cash advance fee 2.5% of the amount withdrawn or ₹500, whichever is the higher amount
GST As applicable on all fees, interest, and other charges


Now, the million-dollar question: Are SBI Cashback Cards worth it?

It depends. For savvy spenders who maximise online purchases and stay mindful of the spending cap, these cards can be a rewarding choice. But for those who primarily handle offline expenses or struggle to stay within budget limits, the benefits might not outweigh the fees.

To make an informed decision, ask yourself these key questions:

  • What’s my spending mix? Are online purchases a significant part of my budget?
  • Am I a disciplined spender? Can I control my spending to stay within the cashback limit?
  • Do the annual fees and interest rates fit my budget?
  • Are there other cards with better reward programs for my spending habits?

Remember, comparing different cards and understanding the fine print is crucial before diving into the world of cashback.

How to apply for a Cashback SBI Card?

If you are interested in applying for a Cashback SBI Card, you can do so online or offline. Here are the steps to follow:

  • Online: You can visit the SBI Card website and enter your personal and professional details. You can check your eligibility and get instant approval. You will need to submit your KYC documents and income proof online or offline, as per the instructions. Once your application is verified and approved, you will receive your card within 7-10 working days.
  • Offline: You can visit any SBI branch or SBI Card kiosk and enter the details on the application form. You will need to submit your KYC documents and income proof along with the form. You can also call the SBI Card helpline number 1860 180 1290 or SMS ‘CASHBACK’ to 5676791 and request for a representative to visit you and collect your documents. Once your application is verified and approved, you will receive your card within 7-10 working days.

SBI Cashback Cards offer a tempting proposition, but they’re not a one-size-fits-all solution. Approach them with a healthy dose of scepticism, do your research, and choose wisely. After all, it’s your hard-earned money, and every swipe deserves a well-informed decision.