SBI Cashback Card Launch: Up to 5% cashback on online purchases

SBI Card has launched 'Cashback Card', the first of its kind cashback credit card in India. The company claims that the first cashback-focused credit card will give customers up to 5% cash back on all online purchases. In addition to the cashback benefit, cardholders will also get four complimentary domestic airport lounge visits every year. The contactless cashback card is being given free of cost for the first year till March 2023.
The annual renewal cost of the card is Rs 999 + tax. Customers who achieve a milestone of Rs 2 lakh in annual spending during the card membership year will be eligible for renewal fee reimbursement. Cashback SBI Card is designed keeping in mind all categories of customers from premium. To avail of this card, customers can apply on the digital application platform 'SBI Card Sprint'.
Speaking at the launch, Ram Mohan Rao Amara, MD & CEO, SBI Card said, “The cashback SBI Card will further strengthen our core card portfolio. This product is a good example of our continuous efforts toward meeting the growing needs of the customers.
We designed this card after researching the behaviour of cardholders regarding online shopping and cashback. Cardholders will get a 1% surcharge waiver on fuel. This discount is valid for transaction amounts ranging from Rs 500 to Rs 3,000.