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Update 31 Mar 2023: SBI Card has announced revised terms for the CASHBACK SBI Card. The monthly cashback cap on online spending has been reduced to ₹5,000, domestic lounge benefit has been eliminated and a number of categories of spending, including Utilities, Education & Railway tickets have been excluded from earning cashback. We will be updating this and our other relevant posts with the new terms soon. We expect that the CASHBACK SBI Card will continue to be our top pick for SBI Card customers after these changes, except for people spending more than ₹1 lacs online each month.
| Monthly Spend | ₹5K | ₹10K | ₹20K | ₹50K | ₹100K |
|---|---|---|---|---|---|
| Net Reward Yield | 1.9% | 2.1% | 2.2% | 2.3% | 2.3% |
| Est. Monthly Reward (₹) | 90 | 205 | 440 | 1,130 | 2,340 |
| All-India Rewards Rank* | 6 | 5 | 7 | 17 | 4 |
| Within Bank Rank* | 1 | 1 | 1 | 10 | 1 |
| * Based on est. net reward yield for nearly 400 credit cards in India, for each monthly spending level. Read about how we calculate the net reward yield here. | |||||
We think the CASHBACK SBI Card is the best choice for most SBI Card customers and is one of the best credit cards in India. You can earn a net rewards yield of 1.9-2.3% with this card without needing to worry about reward redemption or wasting points.
The CASHBACK Card has a simple reward scheme – 5% for online transactions, 1% for everything else, making it a great card for digitally savvy customers.
Our list of the best credit cards in India, at every spending level and from every bank, is here. You can find a detailed discussion of our methodology here.
| Card | |
|---|---|
| Card Type | Cashback |
| Cashback Features | 5% cashback on: – All Online Spends (except certain excluded categories) 1% cashback on: |
| Milestone Rewards | N/A |
| Other Rewards | Nil |
| Rewards Redemption Fee | Nil |
| Cashback Caps | ₹5,000 per month cap for total cashback |
| Preferred Redemption Method | Cashback against statement balance |
| Card | ||
|---|---|---|
| Joining Fee | First Year Fee Waived | |
| Annual Fee | ₹999 + Taxes | |
| Min. Annual Credit Card Spend for Fee Waiver |
₹2 Lacs | |
| Income Criteria | Salaried | N/A |
| Self-employed | N/A | |
| Supplementary Card Fee | Free | |
| Interest Rate | 42.00% p.a. | |
| Foreign Currency Markup | 2.50% | |
| Cash Advance Charge | N/A | |
| Card Association | Visa | |
Questions? Suggestions? See a mistake? Write to us!
Our analysis of 100s of flights shows that miles from international airlines are worth much less in India that they are globally, between 16-54% less. Their value in India is between ₹0.50/mile for the Etihad to ₹0.80/mile for BA & SQ.
2 Free Movie / Stream / Play / Events / Sports / Activities tickets up to ₹250 each and ₹100 off on F&B Spends on BookMyShow tickets.
8 reward points / ₹400 on bill payments & education and 1 point on all other spends. Fuel surcharge waiver of up to ₹100 per month.
