Cashback SBI Card: The Cashback SBI Card, as the name suggests the card offers you cashback as rewards for every transaction made with the card. The card offers exclusive privileges to its customers on all online spends without any merchant restriction. The card is considered one of the best options for the people who make frequent online purchases on regular basis.
The list of options to earn cashback through Cashback SBI Card is endless across all online transactions regardless of dining with Zomato, Swiggy or other online platform, shop at any online platform, book cabs, flights, hotels and so on. Beside that, you receive numerous other benefits, such as complimentary access to domestic airport lounges and many more.
Therefore, here in this article we are going to see the benefits and features of the Cashback SBI Card and the eligibility to apply for the same.
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Contents
1. Cashback SBI Card Features and Benefits
The Cashback SBI Card offers its customer with great deals in different categories, cashback, reward programs, milestone benefits, and many more.
Here we have mentioned the features and benefits offered by the Cashback SBI Card:
- Fuel Surcharge Waiver: On your fuel transactions between Rs 500 to Rs 3,000, cardholders will get a fuel surcharge waiver of 1%, at fuel pumps all over India, with maximum surcharge waiver is capped at Rs. 100 per statement cycle.
- Cashback Benefits: Earn Cashback of up to Rs.5,000 for online and offline spends in one statement cycle. Also, Get 5% cashback on all online purchases, with no merchant restrictions. But, Cashback is not applicable on Merchant EMI, Flexipay EMI, or purchases within the following categories: utility, insurance, fuel, rent, wallet services, school & educational services, jewelry, railways, etc.
- Easy Bill Pay: Using Easy Bill Pay, pay your mobile, electricity, and other utility bills conveniently.
- Worldwide Acceptance: The Card is accepted in more than 24 million outlets worldwide, which includes 3.25 lakh outlets in India.
- Travel Benefits: Earlier, it was 4 complimentary lounge access every year, but in new variant there is ‘No complimentary lounge visits’ are offered.
2. Cashback SBI Card Fees and Charges:
- The Annual fee or Renewal fee charges are- Rs. 999, Reversed on reaching annual spends of Rs. 2 Lakh.
- The Cash withdrawal fee, Rs. 500 or 2.5% of the withdrawn amount Domestic ATMs.
- On all the Foreign currency transaction, you have to pay forex fee of 3.5% for all cards except Aurum and Elite and 1.99% for Aurum and Elite cardholders on the transacted amount. This fee is to be paid on all international transactions done using this credit card.
- An interest rate of 3.5% per month (42% annually) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
- Late Payment Charges are- apart from the interest rate, a late payment fee shall also be applicable, For Statement Balance: NIL: Outstanding amounts ranging from Rs. 0-Rs. 500 on the payment date, Rs. 400: Outstanding amounts more than Rs. 500 to Rs. 1,000, Rs. 750: Outstanding amounts more than Rs. 1,000 to Rs. 10,000, Rs. 950: Outstanding amounts more than Rs. 10,000 to Rs. 25,000, Rs. 1,100: Outstanding amounts more than Rs. 25,000 to Rs. 50,000, Rs. 1,300: Outstanding amounts more than Rs. 50,000.
3. Cashback SBI Card Eligibility Criteria to Apply:
The common eligibility criteria and the documents required to apply for Cashback SBI Card are as follows:
- The age limit for applying for this card is 21- 70 years of age.
- The cardholder should be an Indian resident.
- The cardholder should have a stable source of income either through salary or self-employment with good credit score and a regular source of income.
- For Identity Proof documents you need are Aadhar Card, Voters Id, PAN Card, Passport, Driving License.
- For Address Proof, Utility bills of the latest months, Aadhar Card, Passport, and Ration card are the needed documents.
- For Income Proof, you need to submit the latest bank statement as a salaried person, and can also, submit your company ID card, if you are salaried, and if you are self-employed, you should submit your latest ITR.
4. How to Apply for Cashback SBI Card:
For Cashback SBI Card you can apply either online or offline. For offline mode, you can visit your nearest SBI branch with all the required documents and fill out the physical application form.
Here are the steps to be followed to apply for your Cashback SBI Card:
- Step 1: Visit Official website of the SBI- www.sbicard.com.
- Step 2: Select the option of ‘Credit Card’ and click on ‘Apply Now’.
- Step 3: Then, select ‘Cashback SBI Card’.
- Step 4: Next, click on ‘Next Step’.
- Step 5: Enter all the requested details and providing the required documents.
Therefore, this the method you can apply for your Cashback SBI Card online.
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