SBI Cashback Credit Card Review

SBI Cashback Credit Card Review

SBI Cashback Credit Card Review

SBICard recently introduced a pure cashback credit card that offers up to 5% cashback on online spends, surpassing any existing cashback credit card in the country. This card is not only suitable for beginners but also for super premium cardholders looking to diversify their spending. Here is a comprehensive review of this must-have cashback credit card.

Table of Contents


TypeCashback Credit Card
Reward RateUp to 5%
Annual Fee999 INR+GST First Year FREE (until March 31, 2023)
Best for5% Cashback on online spends
USPHigher maximum cap on monthly Cashback

The SBICard Cashback Credit Card is undoubtedly the best Cashback Credit Card in the country. If you are interested in entry-level cards and want to optimize your online spends, this is the only card you will ever need.

With a 5% earn rate on online spends, it outperforms even the super premium credit cards in terms of reward rate on online spends.

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*** First Year FREE offer ends by March 31, 2023 ***


Joining Fee999 INR+GST First Year FREE (until March 31, 2023)
Welcome Benefit
Renewal Fee999 INR+GST
Renewal Benefit
Renewal Fee waiverSpend 2 Lakhs

The not-so-attractive aspect of SBICard in general is that there is no renewal benefit even upon payment of the joining fee.

While this is a common issue with most SBICards, it shouldn't be a major concern for the Cashback Card, as you can easily recover the renewal fee with just 20,000 INR in online spend. However, the renewal fee waiver is easily achievable for most cardholders.

Note: The joining fee is temporarily waived off until March 31, 2023.


SPEND TYPECashback %
Online Spends5%
Online Spends (>1L per stmt cycle)1%
Offline Spends1%
  • Cashback gets credited within 2 days of statement generation
  • Max Cap: 5,000 INR Cashback per statement cycle (Spend equivalent: 1L Online)

Note: Cashback not applicable on Rent Payments, Fuel Spends, Wallet loads, Insurance, Jewellery, Utilities, gift shops and more as mentioned here. (effective from May 1, 2023)

The maximum cap for cashback has now been reduced to 5,000 INR not only for online spends but also for offline and all other types of spends.

A 5% reward rate on most regular online spends is exceptional, considering that the competition hardly offers a maximum of 2%.

This card is not only the best cashback credit card in India but also in the entire world, even after the devaluation, as no other card issuer has ever launched a 5% cashback card.

SBI Cashback Card - credit notification

For utility and insurance spends, you can purchase "Amazon Pay" vouchers and pay through the Amazon bill payment system, as they offer almost all bill payment services. However, there are limits applicable.

Note that gift vouchers bought on gift card portals will no longer be eligible for cashback.

If you are a super premium cardholder, you may benefit even more by purchasing vouchers at 3X/5X rewards on Axis/HDFC gift voucher portals using Axis credit cards, which may give you a much higher return on spend than 5%.

With all that said, it's like a combination of Axis Ace and ICICI Amazon Pay credit cards on a single card.

Airport Lounge Access

  • Update: Lounge access benefit has been revoked on this card, effective from May 1, 2023
Domestic Lounge AccessVisa1/Qtr

While you only get one access per quarter to domestic airport lounges, the advantage is that it is accepted at over 40+ lounges in India, including the beautiful 080 lounge in BLR.

As most entry-level cards with HDFC and Axis do not provide access to all lounges in India, this card can be helpful when other cards are unable to provide access.

Credit Limit

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