Home / Money / Personal Finance /  SBI Card launches ‘cashback SBI Card’

NEW DELHI: SBI Card on Thursday announced the launch of ‘cashback SBI Card’ that enables cardholders to earn 5% cashback on all online spending without any merchant restrictions.

As per a press statement, consumers across India, including those in tier 2 and 3 cities, can apply for ‘cashback SBI Card’ from the comfort of their homes through the digital application platform ‘SBI Card SPRINT’.

According to the company, the contactless card is free for the first year till March 2023 as a special offer. It said, ‘Cashback SBI 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 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 the benefits. ‘Cashback SBI Card’ comes with auto-credit of cashback facility which allows automatic credit of entitled Cashback to the SBI Card account within two days of statement generation," the press release added.

Speaking at the launch Rama Mohan Rao Amara, MD & CEO, SBI Card, said, “CASHBACK SBI Card will further strengthen our core card portfolio. We thoughtfully designed ‘Cashback SBI Card’ that truly empowers customers to avail 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."

Among the features of the cards are: four complimentary domestic airport lounge visits per year (one visit per quarter); the card also offers 1% fuel surcharge waiver which is valid for transaction amounts ranging from 500 to 3,000, with a maximum surcharge waiver limit of 100 per billing statement month for each credit card account; the annual renewal fee of the card is 999 plus applicable taxes; ‘Cashback SBI Card’ users can enjoy renewal fee reversal on reaching the milestone of 2 lakh annual spends during the card membership year; ‘Cashback SBI Card’ is available on the VISA platform.

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