Launch of the SBI Cashback Card, which offers 5% cashback on online purchases. If you spend up to Rs. 2 lakh, the renewal cost of Rs. 999 will be waived.

The first credit card in India to offer cash back is the “Cashback Card” from SBI Card. According to the company, clients will receive up to 5% cashback on all online transactions with the first credit card that focuses on cashback. Cardholders will also receive four complimentary trips to domestic airport lounges each year in addition to the cashback bonus. Up until March 2023, the contactless reward card is offered without charge for the first year.

Cost of Annual Renewal: Rs. 999

The card’s annual renewal fee is Rs 999 plus tax. Customers would be eligible for a renewal fee refund if they reach the milestone of Rs 2 lakh in annual expenditure during the card membership year. The Cashback SBI Card was created with all client segments—from elite to average—in mind. Customers can apply on the online application system “SBI Card Sprint” to obtain this card.

Card to bolster SBI’s investment portfolio

Our core card portfolio will be further strengthened with the Cashback SBI Card, according to Ram Mohan Rao Amara, MD & CEO of SBI Cards. This product is a good illustration of our ongoing efforts to satisfy the expanding demands of the customers.

Read More: SBI FD Loan Process: Good news for SBI customers, now you can take a loan against FD, know what is the process

After investigating cardholders’ online buying and cashback habits, we developed this card. Cardholders will not be charged the 1% fuel surcharge. The transaction amount range for this discount is between Rs. 500 and Rs. 3,000.

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