💸 SBI Cashback Credit Card — Best for Straightforward Cashback
SBI • Premium
Premium lifestyle & travel card
Description
Issuer: SBI Card
Card Type: Cashback
Joining Fee: ₹999 + GST
Renewal Fee: ₹999 + GST
Reward Style: Direct Cashback (auto-credit)
Annual Fees
Welcome Benefits
No dedicated welcome gift listed by issuer (check for periodic promotional offers).
Auto-credit cashback feature means new cardholders start saving immediately from their first eligible transaction (no redemption process).
Rewards
| Spend Type | Cashback Rate | Monthly Cap | Notes |
|---|---|---|---|
| Online purchases | 5% | Contributes to ₹5,000 monthly cap | Includes many e-commerce and digital merchant spends (check TnC) |
| Offline purchases | 1% | Contributes to ₹5,000 monthly cap | Retail POS spends, except excluded categories |
| Maximum monthly cashback | — | ₹5,000 | Combined across online + offline |
| Cashback redemption | — | Auto-credit to statement | Credited within 2 days after statement generation |
Important exclusions: Jewellery, rent, wallet loads, fuel, education, insurance, utilities, railways, card/gift shops, quasi-cash — these spends do not qualify for cashback.
Eligibility
Age: 21–65 years (primary cardholder typical range; check bank TnC)
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Residency: Resident Indian
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Income: Stable income required (salaried or self-employed)
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Credit score: 700+ recommended for smooth approval
(Exact approval rules depend on SBI Card’s internal policies.)
Fees
| Fee Type | Amount |
|---|---|
| Joining fee | ₹999 + GST |
| Renewal fee | ₹999 + GST (waiver available) |
| Annual fee waiver | Waived if annual spends ≥ ₹2,00,000 |
| Finance charge (interest) | ~3.75% per month (approx. 45% p.a.) |
| Cash advance fee | 2.5% of amount (min ₹500) |
| Foreign currency markup | 3.5% (typical) |
| Late payment fee | ₹100 – ₹1,300 (slabbed) |
Documents Needed
PAN card (mandatory)
Aadhaar / Address proof (Passport / Voter ID / Utility bill)
Income proof: Salary slips (last 3 months) or ITR / bank statements (for self-employed)
Photograph (passport size)
Value Illustration
This quick illustration shows how much cashback you could realistically earn.
Assumptions (monthly): Online spends ₹50,000; Offline spends ₹30,000
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Online cashback: 5% of ₹50,000 = ₹2,500
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Offline cashback: 1% of ₹30,000 = ₹300
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Monthly cashback = ₹2,800 (well within ₹5,000 cap)
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Annual cashback ≈ ₹33,600
Case — very heavy online spender:
If online = ₹1,20,000 and offline = ₹60,000 in a month:
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Raw cashback = (₹1,20,000 * 5%) + (₹60,000 * 1%) = ₹6,000 + ₹600 = ₹6,600
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Credited (capped) = ₹5,000 for that month
Fee impact: Annual fee ₹999: if you earn > ₹999/year in cashback (which is trivial), the card already pays for itself. To get the fee waived next year you must spend ₹2,00,000 annually — doable for many users.
Final Summary
The SBI Cashback Card is an excellent, straightforward cashback product for shoppers and online-first users who want automatic statement savings with minimal fuss. The 5% online cashback is competitive and the ₹5,000 monthly cap is generous for most users. The annual fee is moderate — but easy to justify:
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If you spend ₹1,000–2,000 monthly online, you'll recover the annual fee quickly.
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If you spend ₹2 lakh/year, the fee is waived completely.
Best for: Active online shoppers, digital-first consumers, and users who prefer cashback over points.
Not ideal for: People who primarily spend on excluded categories (fuel, rent, insurance) or those wanting travel/luxury perks like lounge access.
Disclosure: We may earn a commission from qualifying approvals.