SBI Cashback Credit Card: Eligibility, Benefits & Charges

Are you aware that SBI Card recently came up with an SBI Cashback Credit Card that gives up to 5% cashback on online spending without any merchant restriction? Yes! This cashback credit card is a service that is much more than a simple credit card transaction.

In this article, we explore SBI cashback credit card features, benefits, fees, and eligibility. Moreover, we will also know how to apply it in a few easy steps.

As the name suggests, SBI cashback credit card offers customers cashback benefits for both online and offline transactions. This cashback gets auto-credited to your SBI Card account within 2 working days. It offers the highest cashback rate in comparison to other cashback credit cards in the market.

Key Features and Benefits of SBI Cashback Credit Card

To know more about the SBI Cashback Credit Card benefits, here is a quick table summarizing the key benefits and features in brief:

Benefits

Get 5% cashback on all online purchases, with no merchant restrictions.
Cashback gets auto-credited to your account within 2 days.
You can avail of 1% cashback on offline spending with no merchant restriction.
It is ideal for everyday purchases.
It is fast and convenient. Simply tap your card at a secure reader to transact.
You can transfer the outstanding balance of the other banks’ credit cards and avail of a lower rate of interest and pay back in EMIs.

Features

Cashback is not applicable on Merchant EMI, Flexipay EMI, or purchases under the utility, insurance, fuel, rent, etc categories.
One can enjoy a 1% fuel surcharge waiver across all petrol pumps throughout India.
The SBI Cashback Credit Card is accepted in more than 24 million outlets worldwide.
Use the “Easy Bill Pay” facility to pay your mobile, electricity, and other utility bills conveniently.
3 Add-on cards for the family at no additional cost.
You can withdraw cash using this card. However, you will have to pay an additional cash advance fee every time you withdraw cash.

Eligibility Criteria

To avail of the benefits, you must fulfill the SBI Cashback Credit Card eligibility criteria. Here are the details:

You must belong between the 21 to 70 year age group.
Applicants should be a salaried or self-employed individual.
You must have a good credit score, preferably above 750.
You must have a regular source of income.

Fee and Charges

Below is a quick detailed summary of all the fees and charges associated with the credit card:

Type	Fee
Joining Fee	Rs.999
Finance	42% p.a.
Renewal Fees	Rs.999 (Renewal fee will be waived if annual spending of the last year was more than Rs. 2 lakhs)
Cash Advance Fee	2.5% or Rs.500 (Whichever is higher)
Cash Payment Fee	Rs.250 plus taxes
Overlimit Fee	2.5% of the over-limit amount or Rs.600
Card Replacement Fee	Rs.100 to Rs.250 (Rs.1,500 for Aurum cardholders)
Foreign Currency Transaction Fee	3.5% - for all cards except Aurum and Elite. 1.99% - for Aurum and Elite cardholders.

Late Payment Fee

Outstanding Balance	Late Payment Charges (Without GST)
Less than Rs.500	NIL
Rs.500 to Rs.1000	Rs.400
Rs.1001 to Rs.10,000	Rs.750
Rs.10,001 to Rs.25,000	Rs.950
Rs.25,001 to Rs.50,000	Rs.1100
More than Rs.50,000	Rs.1300

How to Apply for SBI Cashback Credit Card

There are both online and offline options available to receive this credit card. To apply offline, visit the nearest SBI branch and fill out the application form

However, the steps to apply online are mentioned below:

Visit the official website of the State Bank of India and navigate to the “Credit Cards” page.
You will see a list of different credit cards that SBI offers. Locate the credit card and click on the “Apply Now” option.
A window opens up. Click on the “Start apply journey” button and fill out the e-apply form.
After entering the necessary information, click on “Submit”.
A message will pop up on the screen staging the status of your application form submission.
You will receive a call from a representative from SBI to verify the information.
After the verification is complete, you will receive the credit card at your registered address.

Documents Required

The documents required to apply for a Cashback SBI card are as follows:

Aadhar Card
Pan Card
Income Documents (Salary slip, income tax return documents, etc)
Bank Account Details
Passport-size photographs

Conclusion

With 5% cash back on almost all online spending, the SBI Cashback Credit card is one of the best cashback credit cards available available in the market. You can even generate your SBI ATM PIN through SMS, OTP & YONO App by sitting in the comfort of your home.

Do you have an SBI Cashback Credit Card? Feel free to share your thoughts & experiences in the comments below.

Khushi Singla

As a writer, my task is not only writing but making tough topics easy to understand. I have the ability to connect with the readers and deliver them the best piece of writing.