SBI Card Launches First-Of-Its-Kind ‘CASHBACK SBI Card’
SBI Card, India’s largest pure-play credit card issuer, today announced the launch of ‘CASHBACK SBI Card’, the first-of-its-kind and the most comprehensive Cashback credit card in India.
The SBI Card is the industry’s first Cashback-focused credit card that enables cardholders to earn 5% Cashback on all online spending without any merchant restrictions. Targeted at customers across all categories, from mass to premium, the card offers a simple, seamless, and completely digital joining experience.
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Consumers across India, including tier 2 & 3 cities, can easily get The SBI Card instantly from the comfort of their homes in just a few clicks through the digital application platform ‘SBI Card Sprint’.
The contactless card is free for the first year till March 2023 as a special offer. Owing to its strong proposition, The CASHBACK Card customers will earn unlimited 1% cashback on all spending, and cashback will increase to 5% on all online spending for up to a maximum of INR 10,000 per monthly statement cycle.
Its merchant agnostic nature ensures that the customers are not restricted to shopping with just a few merchants to avail of the benefits.
The CASHBACK Card comes with an auto-credit of Cashback facility which allows automatic credit of entitled Cashback to the SBI Card account within two days of statement generation.
Speaking on the launch Mr. Rama Mohan Rao Amara, MD & CEO, SBI Card said, “CASHBACK Card will further strengthen our core card portfolio. This product is a fine example of our continuous efforts toward addressing customers’ evolving needs. During our diverse initiatives, we meticulously assessed the affinity of cardholders toward online shopping and Cashbacks. In line, we thoughtfully designed a CASHBACK Card that truly empowers customers to avail of the Cashback benefits on every purchase, every time, and everywhere. Launch of this unique card is at an opportune time as customers can experience its power every day and make the most during the upcoming festive season.”
The benefits offered by CASHBACK Card go well beyond its strong Cashback features. Cardholders can avail of four complimentary domestic airport lounge visits per year (one visit per quarter).
The card also offers a 1% fuel surcharge waiver which is valid for transaction amounts ranging from Rs 500 to Rs 3,000, with a maximum surcharge waiver limit of Rs 100 per billing statement month for each credit card account.
The annual renewal fee of the card is Rs 999 plus applicable taxes. CASHBACK Card users can enjoy renewal fee reversal on reaching the milestone of Rs 2 lakh annual spending during the card membership year. CASHBACK Card is available on the VISA platform.
Key Features of Cashback SBI Card
- Cashback Benefits:
- 5% cash back on every* online spend without any merchant restriction (Up to a maximum of Rs. 10,000 per monthly statement cycle).
- Unlimited 1% cashback on all* spends and utility bill payments.
- Cashback will be automatically credited to the respective SBI Card account within two days of the next statement generation
- Joining & Renewal Fees:
- Under a special offer till March 2023, the first year of card membership is free.
- Annual fee reversal of Rs 999 on achieving annual spends of Rs. 2 Lakh or more within a card membership year.
- Fuel Surcharge:
- 1% fuel surcharge waiver (Valid for transactions of amounts ranging from Rs 500 to Rs 3,000 & maximum surcharge waiver amount of Rs 100 per billing statement month per credit card account).