'CASHBACK SBI CARD' launched: Check features, cashback rates, and renewal fee

SBI

New Delhi: ‘Cashback SBI Card’ has been launched for customers. This new cashback-focused card aims to promote cashback system by providing 5 % cashback on every online spending without any merchant restriction. Besides, it provides 1 % cashback on all offline spends and utility bill payments.

The most attractive thing is that it has no joining fee. As per SBI card website, all the privileges for the first year is absolutely free. The cardholder needs to pay renewal fee of Rs 999 + tax from second year. However, there is a mechanism of renewal fee reversal in case the annual spending goes beyond Rs 2 lakhs.

It’s hassle free so card cashback will be auto-credited to your SBI card account within two days of your next next statement generation. Moreover, the card has world acceptance. According to the SBI card website, you can use your CASHBACK SBI CARD in over 24 million outlets across the globe, including 3,25,000 outlets in India.

Keeping the security in mind, the card offers contactless transaction with a single tap. It’s fast and convenient and most important – secure as it never leaves your hand during a transaction.

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.”