Cashback SBI Card Review: Earn Cashback without Merchant Restrictions

Cashback SBI Card Ranking

Cashback                    ★★★★
Annual Payment                 ★★★ 
Different Advantages           ★★★ 

Total Ranking            ★★★★

SBI Card has lately revised a number of the advantages provided by Cashback SBI Card. Earlier; I used to be saving as much as Rs. 10,000 month-to-month by means of cashback, whereas, now I can get a month-to-month cashback of as much as Rs. 5,000. Nonetheless, I nonetheless suppose that even after the current devaluation, Cashback SBI Card can be the perfect cashback card for me if I continuously store on-line. To know the explanation behind this, click on right here.

Recently, cashback has risen as one of the vital sought-after bank card classes. Because of this, main bank card issuers have launched playing cards within the cashback segment- some in collaboration with well-liked manufacturers whereas others providing normal cashback throughout all retailers and all spend classes.

I have already got Axis Ace Credit score Card, Amazon Pay ICICI Credit score Card and RBL Financial institution Zomato Version Credit score Card from the cashback class and the most recent addition is the Cashback SBI Card. The cardboard is designed for internet buyers and affords beneficiant cashback on all on-line transactions with no service provider restrictions.

If you’re considering of making use of for Cashback SBI Card and are questioning whether or not it could be the correct match for you, right here is my detailed assessment and hands-on expertise that can assist you determine.

Cashback with out Service provider Restrictions

The Cashback SBI Card affords 5% cashback throughout all on-line transactions, no matter the service provider or platform you store at. However why is that this promoted as an important function? Allow us to perceive.

Most cashback bank cards out there both are co-branded or supply additional earnings solely on choose classes.

Let’s take Axis Ace Credit score Card for instance. I largely use the cardboard to pay electrical energy and web payments through Google Pay and I order from Swiggy a couple of instances in a month. On invoice funds, I earn 5% cashback and on Swiggy, I get 4% cashback. I additionally put different frequent on-line and offline purchases on this card, because it offers me the very best worth again of two%.

However, Cashback SBI Card offers me 5% cashback throughout all on-line transactions no matter whether or not I spend on eating with Zomato, Swiggy or every other on-line platform, store at any on-line platform, guide cabs, flights, hotels- the record is limitless. Virtually any on-line spend that I make will give me 5% cashback. No different card out there is providing such a excessive fee of cashback throughout such a variety of transactions.

Cashback SBI Card doesn’t supply any cashback on the next ‘excluded’ classes:

Gasoline Transactions
Service provider EMI Transactions
Lease Cost
Pockets Loading
Money Advances
Steadiness Transfers
Flexipay or Encash Facility
Jewelry Purchases
Instructional Transactions
Institutional Transactions
Utilities
Insurance coverage Funds
Gifting
Railway Transactions

Worth-back Comparability: Cashback SBI Card Vs. Axis Ace

The desk beneath exhibits a comparability of value-back that Axis Ace would supply for a given set of transactions in contrast with that provided by Cashback SBI Card on the identical set of transactions.

Transaction
Quantity
Cashback SBI Card
Axis Ace

Spends on Large Basket
Rs. 7,000
Rs. 350
Rs. 140

Electrical energy Invoice Cost through Google Pay
Rs. 4,000
Rs. 0
Rs. 200

Attire Buy on Myntra
Rs. 3,500
Rs. 175
Rs. 70

Gasoline Spends
Rs. 5,000
Rs. 0
Rs. 0

Meals Ordering through Zomato
Rs. 2,000
Rs. 100
Rs. 80

Spends at Ola Cabs
Rs. 3,000
Rs. 150
Rs. 120

Spends on FirstCry
Rs. 4,000
Rs. 200
Rs. 80

Spends at Uber
Rs. 2,000
Rs. 100
Rs. 40

Flight reserving through MakeMyTrip
Rs. 8,000
Rs. 400
Rs. 160

Lodge Reserving through Cleartrip
Rs. 6,500
Rs. 325
Rs. 130

Misc. Offline Spends
Rs. 5,000
Rs. 50
Rs. 100

Complete
Rs. 50,000
Rs. 1,850
Rs. 1,120

Axis Ace is among the greatest cashback playing cards out there however the additional earnings are restricted to sure retailers. Even should you spend on-line, there is no such thing as a additional profit for normal on-line spends. However, Cashback SBI Card affords 5% cashback on all on-line transactions besides some excluded classes. The whole cashback earned can be larger for Cashback SBI Card as even the manufacturers/retailers that aren’t coated by Axis Ace will earn 5% cashback.

Additionally Learn: Greatest Cashback Credit score Playing cards in India

Annual Payment and Waiver Situation

The Cashback SBI Card expenses an annual charge of Rs. 999 which is larger than different well-liked cashback playing cards. Nonetheless, from second 12 months onwards, you may get the annual charge reversed by spending Rs. 2 Lakh or extra within the previous 12 months.

That will help you get a perspective, here’s a desk displaying the annual charge charged by different cashback bank cards.

Credit score Card
Annual Payment

Axis Ace
Rs. 499

Flipkart Axis Financial institution Credit score Card
Rs. 500

HSBC Cashback Credit score Card
Rs. 750

YES Prosperity Cashback Plus Credit score Card
Rs. 1,499

HDFC Millennia Credit score Card
Rs. 1,000

The Verdict on Latest Adjustments

The modifications made on the Cashback SBI Card are talked about within the desk beneath:

Explicit
Older Variant
New Variant

Becoming a member of Payment
Nil
Rs. 999

Cashback Advantages

5% cashback on on-line procuring
1% cashback on offline transactions, together with utility invoice fee

5% cashback on on-line procuring
1% cashback solely on offline transactions

Excluded Classes for Cashback
Gasoline Transactions, Service provider EMI Transactions, Lease Funds, Pockets Loading, Money Advances, Steadiness Transfers, Flexipay or Encash Facility
Older Classes + Jewelry Purchases, Instructional Transactions, Institutional Transactions, Utilities, Insurance coverage Funds, Gifting, Railway Transactions

Month-to-month Capping on Cashback
Rs. 10,000 on accelerated class
Rs. 5,000, together with all classes

Home Lounge Entry
4 complimentary lounge entry yearly
No complimentary lounge visits are provided

From the above desk, it’s clear that SBI Card has devalued the general advantages provided by Cashback SBI Card. Nonetheless, this could nonetheless be my primary selection if I wish to save on on-line transactions. That is majorly due to the beneath causes:

I can nonetheless earn 5% cashback on all on-line transactions no matter the model because it comes with no service provider restriction, which is normally relevant on many of the cashback bank cards like Axis ACE or Flipkart Axis
The exclusion of utility invoice funds below 1% cashback just isn’t an enormous downside as a number of the premium playing cards like IndusInd Legend and HDFC Diners Membership Black don’t supply any advantages on utility invoice funds
Wanting on the general worth again, contemplating that now I can solely earn a month-to-month cashback of as much as Rs. 5,000, this bank card nonetheless affords higher worth again as in comparison with different comparable playing cards like Axis ACE or HSBC Cashback

However, if I wish to earn advantages throughout a number of classes at a low annual charge, then this card may not be the correct selection for me as a result of:

Not providing any home lounge entry may be a downside for this card as even playing cards with a decrease annual charge like Axis ACE or Flipkart Axis supply home lounge entry yearly. Additionally, contemplating the annual charge of Rs. 999, I might count on at the very least a couple of lounge visits as an extra benefit.
Earlier, this bank card was provided and not using a becoming a member of charge, however now I’ve to pay a becoming a member of charge of Rs. 999 to avail this bank card. One of many drawbacks is that Cashback SBI Card doesn’t supply any welcome advantages even after charging a becoming a member of charge of Rs. 999, whereas, playing cards like Axis ACE or Flipkart Axis compensate the becoming a member of charge by offering advantages like becoming a member of charge reversal, complimentary vouchers, and so on.

Must you get this card?

Cashback SBI Card is greatest suited for many who desire on-line searching for everything- whether or not it’s attire, footwear, equipment, journey, meals, groceries, leisure or every other want. The utmost cashback restrict (for the accelerated incomes class) is Rs. 5,000 in a billing cycle, which implies on-line transactions as much as Rs. 1 Lakh monthly might be eligible for the additional earnings. After you attain this month-to-month restrict, 1% cashback might be given on all transactions.

If you’re nonetheless confused, ask your self the next questions and if the reply to most of those questions is YES for you, you possibly can contemplate getting this card:

Do you largely store on-line?
Do you place most of your bills on bank cards?
Are you able to spend Rs. 2 Lakh in a 12 months to get the annual charge waived off?
Are you keen to pay Rs. 999 because the annual charge should you can not attain the spend threshold for waiver?
Do you have already got or are planning to get one other card for utility invoice funds and gas bills?

Closing Ideas

Cashback SBI Card is a challenger for different well-liked cashback playing cards out there reminiscent of Axis Ace and Flipkart Axis Card. Although providing nice value-back, most of those playing cards have service provider/model restriction which is the primary cause why cardholders can not take advantage of the advantages. Cashback SBI Card takes away this downside by providing 5% cashback on all on-line transactions no matter the service provider or model that you just select.

The cardboard doesn’t supply any cashback on gas and utility payments. If you’re trying to earn cashback on these two classes, you possibly can contemplate getting a gas bank card or a card that rewards utility invoice funds. In any other case, for cashback throughout procuring, journey, eating and so on., this bank card will present most worth, with out the trouble of planning your purchases as per retailers.