The first-of-its-kind and most comprehensive cashback credit card in India, the “CASHBACK SBI Card,” was officially launched on Thursday by SBI Card, the country’s largest pure-play credit card issuer.
The first cashback-focused credit card in the market, the CASHBACK SBI Card, allows cardholders to earn 5% cashback on all online purchases without any merchant limits. Customers from all demographics, from mass to premium, are catered to, and the card provides a quick, easy, and entirely digital sign-up process. Through the digital application platform “SBI Card SPRINT,” customers in India, even in tier 2 and 3 cities, can easily receive CASHBACK SBI Cards quickly from the convenience of their homes in just a few clicks.
The contactless card is free for the first year till March 2023 as a special offer. Owing to its strong proposition, CASHBACK SBI Card customers will earn unlimited 1 percent cashback on all spends, cashback will increase to 5 per cent on all online spends for up to maximum of Rs 10,000 per monthly statement cycle.
The CASHBACK SBI Card has an automatic cashback credit feature that enables automatic credit of the authorised Cashback to the SBI Card account within two days of statement production.
Rama Mohan Rao Amara, MD & CEO, SBI Card said, “CASHBACK SBI Card will further strengthen our core card portfolio. This product is a fine example of our continuous efforts towards addressing customers’ evolving needs. During our diverse initiatives, we meticulously assessed affinity of cardholders towards online shopping and cashbacks. In line, 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.”
CASHBACK SBI Card benefits:
Four complimentary domestic airport lounge visits are available to cardholders each year (one visit per quarter).
With a maximum surcharge waiver limit of Rs 100 every billing statement month for each credit card account, the 1% fuel fee waiver is allowed for transactions between Rs 500 and Rs 3,000.
The card’s annual renewal cost is Rs 999 + any relevant taxes. When they attain the milestone of Rs 2 lakh in annual spending during the card membership year, holders of CASHBACK SBI Cards are eligible for renewal fee reimbursement. The VISA platform supports the CASHBACK SBI Card.