The SBI Card has launched its cashback-focused credit card in India which will enable the customers to earn five per cent cashback on all online spends without any merchant restrictions.
The Cashback SBI card available on VISA platform targets customers across all categories and offers a simple, seamless and digital joining experience, the company said in a statement. The launch of this cashback card will ensure benefits for the customers ahead of this festive seasons.
“CASHBACK SBI Card will further strengthen our core card portfolio. This product is a fine example of our continuous efforts towards addressing customers’ evolving needs”, Rama Mohan Rao Amara, managing director and chief executive officer, SBI Card, said in a statement.
Here are key things to know about this CASHBACK SBI card:
1. The customers from tier 2 and 3 cities can get this card at homes in just a few clicks via the digital application platform ‘SBI Card Sprint’.
2. The Cashback SBI card is free for the first year till March 2023 as a special offer, the company said. A customer will earn an unlimited 1 per cent cashback on all spends, which will increase to five per cent on all online spends for up to maximum ₹10,000 per month statement cycle.
3. This card has an auto-credit of cashback facility which will allow the automatic credit of cashback to the SBI card account within two days of statement generation.
4. The Cashback SBI card holders can avail four complimentary domestic airport lounge visits per year (one visit per quarter).
5. This cashback-focused credit card also offers 1 per cent fuel surcharge waiver which is valid for transaction amount ranging from ₹500- ₹3,000 with a maximum surcharge waiver limit of ₹100 per billing statement month for each credit card account.
6. The annual renewable fee of the card has been set at ₹999 plus the taxes. SBI Card says the users can get renewable fee reversal on reaching the milestone of ₹2 lakh annual spends during the card membership year.
7. The other benefits include unlimited 1 per cent cashback on all spends and utility bill payments.
8. This cashback is not applicable on Rent Payments, Fuel Spends, Wallet Loads, Merchant EMIs, Cash Advances, Balance Transfer, Encash & Flexipay.