SBI recently launched a new credit card which is SBI Cashback Credit Card, it offers 5% cashback on most of the online spends. After using Amazon ICICI credit card for more than a year I decided to try this card. The issue with the Amazon ICICI credit card was that it offered 5% cashback only for items purchased on the Amazon website/app but there is no such restriction with the SBI cashback credit card. Here is my hands-on experience with Cashback SBI Card to help you decide whether you should also get it.

Overview

Type	Cashback Credit Card
Card network	VISA
Reward Rate	Upto 5%
Annual Fee	999 INR+GST
Best use	5% Cashback on online purchases, 1% Cashback on offline purchases
Best Feature	Maximum monthly Cashback among cashback category credit cards
Helpline number	1860 180 1290

The SBICard Cashback Credit Card is without a doubt the top Cashback Credit Card. This is the only card you’ll ever need if you prefer entry-level cards and want to maximize cashback from online purchases.

If you only consider the reward rate on online purchases, it is even better than super premium credit cards as it has 5% cashback rate.

Fee

Joining Fee	999 INR+GST
Renewal Fee	999 INR+GST (Reversal of Renewal Fee on annual spends of Rs.2 Lakh)
Welcome Benefit	Nil
Add on card fee	Nil
Cash Withdrawal Fee	2.5% or Rs. 500 whichever is higher
Card Replacement fee	Rs. 100 (Maximum 250)
Renewal Benefit	Nil
Renewal Fee waiver	Spend 2 Lakhs
IRCTC Booking	1% of transaction amount + all applicable taxes

Just like most SBI credit cards, this card doesn’t give a welcome or renewal benefit. But this should not be a problem for most users because you can get Rs. 1000 cashback with just Rs. 20000 online purchase which would not be a problem for cardholders. 

Benefits

SPEND TYPE	CASHBACK %
Online Spends	5%
Online Spends (>1L per stmt cycle)	1%
Offline Spends	1%
Fuel surcharge waiver	1%

Maximum Cashback that can be earned on online and offline spends in a statement cycle will be capped at Rs.5,000.

*Cashback is not applicable on Merchant EMI & Flexipay EMI transactions and on the following categories: Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewelry, Railways, etc.

Cashbacks earned from these spends are credited to SBI Card account within two days of the next statement generation.

Earlier the limit for monthly cashback used to be Rs. 10,000 but now it has been reduced to rs. 5,000. But even at this limit, it is the best cashback credit card in India as it offers 5% cashback on online transitions whereas most other crest cards offer 2-3%. 

This card gives you the combined benefits of the Amazon ICICI credit card and the Flipkart Axis credit card.

Lounge access

There is no lounge access available with this card which is a huge negative point for this card. Earlier complimentary lounge access was provided with this card but This has been discontinued with the devaluation from the 5th of May 2023.

Pros and cons

Pros	Cons
5% cashback on online merchant spends	Too many categories don’t even get 1% cashback now
The monthly 5% cashback cap at Rs 5000 is quite good	Rs 2 Lakhs for spend waiver may be difficult as major purchases like utilities, insurance, etc. don’t get any cashback
Great for high spending on online merchants as other cashback cards have lower rewards cap	No complimentary airport lounge access!
	Cashback card is not eligible for the instant discount during online sales

Who should get SBI Cashback Credit Card?

This card is a good option for people who carry most of their purchases online and want to earn cashback from it. This card gives you 5% cashback on most of your online spending without any restrictions on merchants or brands. 

How to apply for SBI Cashback Credit Card?

Step 1: Visit the https://www.sbicard.com/sprint/cashback

Step 2: Fill out the online application form with your personal and financial details.

Step 3: Upload the required documents, such as identity proof, address proof, and income proof.

Step 4: Review the information and submit the application.

Step 5: Wait for the bank to process and approve your application.

Step 6: Once approved, the credit card will be dispatched to your registered address.

If you join through below referral link you will get Rs. 500 E-voucher after a successful transaction of Rs. 500 on the card. 

Apply now

Documents Required

• Proof of identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
• Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
• Proof of Income: The latest one or two salary slips (not more than 3 months old), the latest Form 16, and the last 3 months’ bank statement.