SBI Cashback Credit Card- One of The Best Cashback Credit Card in India
Cashback SBI Card, also known as SBI Cashback Credit Card, is a credit card offered by the State Bank of India, one of the largest public sector banks in India. This card offers a variety of benefits including cashback on purchases, fuel surcharge waiver, and reward points. Launched in September 2022, the card quickly rose to become the best cashback credit card in India, due to its ‘no merchant restriction’ model. Although it is claimed the card has slightly gotten devalued effective May 2023, it still provides the highest value back as compared to other cash back cards such as Axis Ace and Flipkart Axis Credit Card.
Features of SBI Cashback Credit Card:
Cashback Offers:
One of the primary benefits of the Cashback SBI Card is the cashback offers. This card offers cashback on various categories such as grocery, departmental stores, dining, and more. The user can get 5% Cashback on online spendings without any merchant restriction and 1% Cashback on offline spendings. Card Cashback gets auto-credited to the user’s SBI Card account within two working days of its next statement generation
Spend Based Reversal:
Get reversal of renewal fee on annual spends of Rs. 2 Lakh
Fuel Surcharge Waiver:
Cashback SBI Card also offers a fuel surcharge waiver of 1% on fuel purchases made at any petrol pump across India. This waiver is applicable on transactions of up to Rs. 3,000 and avail maximum surcharge waiver of Rs. 100 per statement cycle
Other Benefits:
SBI Cashback Credit Card also offers various other benefits such as:
Contactless Payments: Cardholders can make contactless payments at any merchant terminal that supports contactless payments.
Balance Transfer: Cardholders can transfer their outstanding balances from other credit cards to Cashback SBI Card and enjoy lower interest rates.
Easy Bill Payment: Cardholders can pay their credit card bills online or through any SBI branch.
Fees of SBI Cashback Credit Card
The annual fee for Cashback SBI Card is Rs. 999, which is waived off if the cardholder spends Rs. 2 lahks or more in a year.
Eligibility of SBI CASHBACK Credit Card
To be eligible for Cashback SBI Card, applicants must meet certain criteria set by the issuer. These criteria typically include:
- Age: At least 18 years old.
- Citizenship: An Indian citizen or a non-resident Indian (NRI).
- Credit Score: Must have a good credit score, generally above 750.
- Income: Should have a regular source of income. The income requirement might vary depending on the issuer and the type of card.
- Employment: Employed or self-employed. The issuer might require the applicant to provide proof of employment or income.
- KYC Documents: Documents such as an Aadhaar card, PAN card, passport, driving license, or voter ID.
It is vital to note that meeting the eligibility criteria does not guarantee approval for the Cashback SBI Card. The issuer may also take into account other factors such as the applicant's credit history, debt-to-income ratio, and other financial obligations before approving the application.
How to apply for SBI CASHBACK Credit Card?
There are several ways to apply for Cashback SBI Card. Here are the most common methods:
Online Application: The easiest and most convenient way to apply for Cashback SBI Card is through the official SBI Card website. Here are the steps:
- Visit the SBI Card website and click on the 'Apply Now' button for the Cashback SBI Card.
- Fill in the application form with your personal and financial details.
- Upload the required KYC documents such as an Aadhaar card, PAN card, and passport-size photograph.
- Submit the application form and wait for the issuer's response.
Offline Application: If you prefer the traditional method, you can visit any SBI branch or SBI Card office to apply for Cashback SBI Card. Here are the steps:
- Visit any SBI branch or SBI Card office and ask for the Cashback SBI Card application form.
- Fill in the application form with your personal and financial details.
- Attach the required KYC documents such as an Aadhaar card, PAN card, and passport-size photograph.
- Submit the application form and wait for the issuer's response.
Phone Application: If you prefer to apply over the phone, you can call the SBI Card customer care number and request to provide the Cashback SBI Card application form. Here are the steps:
- Call the SBI Card customer care number and request a Cashback SBI Card application form.
- The customer care executive will guide you through the application process and assist you in filling out the form.
- Once you have filled out the form, attach the required KYC documents and submit it to the issuer.
After submitting the application, the issuer will review your application and may ask for additional information if required. Once your application is approved, the issuer will send the Cashback SBI Card to your registered address within 7-10 business days.
Conclusion
Cashback SBI Card is an excellent credit card for those who want to earn cash back on their daily purchases. With attractive cashback offers, fuel surcharge waivers, and reward points, this card offers a variety of benefits to its users. However, before applying for this card, it is recommended to read the terms and conditions carefully to understand the fees and charges involved.
