Hyderabad, Sep 1 : SBI Card, India’s largest pure-play credit card issuer, on Thursday announced the launch of ‘CASHBACK SBI Card’.
It is the first-of-its-kind and the most comprehensive Cashback credit card in India.
CASHBACK SBI Card is the industry’s first Cashback-focused credit card that enables cardholders to earn 5 per cent Cashback on all online spends without any merchant restrictions, SBI Card, a non-banking Financial company, said in a release here.
Targeted at customers across all categories, from mass to premium, the card offers a simple, seamless, and completely digital joining experience.
Consumers across India, including tier 2 & 3 cities, can easily get Cashback SBI Cards instantly from the comfort of their homes in just a few clicks through digital application platform ‘SBI Card SPRINT’.
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 INR 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.
Cardholders also can avail four complimentary domestic airport lounge visits per year (one visit per quarter).
The card also offers 1 percent fuel surcharge waiver which is valid for transaction amounts ranging from Rs 500 to Rs 3,000, with maximum surcharge waiver limit of Rs 100 per billing statement month for each credit card account.
The annual renewal fee of the card is Rs 999 plus applicable taxes.
CASHBACK SBI Card users can enjoy renewal fee reversal on reaching the milestone of Rs 2 lakh annual spends during the card membership year and it is available on the VISA platform.