SBI Unveils ‘CASHBACK SBI CARD’: Check Features, Benefits & Cashback Percentage
New Delhi: India’s largest bank, State Bank of India (SBI), has launched the “SBI Cashback Card” for its customers. This new cashback-focused card aims to promote the cashback system by offering 5% cashback on every online spend without any restrictions from the merchant. Also, it offers 1% cash back on all offline spending and utility bill payments.
The most interesting thing is that there are no membership fees. According to the SBI website, all privileges for the first year are absolutely free. The cardholder has to pay a renewal fee of Rs 999 + tax from the second year. However, there is a mechanism for waiving the renewal fee in case the annual expenditure exceeds Rs 2 lakhs.
It’s hassle-free, so the cashback from the card will be automatically credited to your SBI card account within two days of your next statement generation. In addition, the card is accepted worldwide. According to the SBI, you can use your CASHBACK SBI CARD at over 24 million outlets across the world, including 3.25,000 outlets in India.
Keeping security in mind, the card offers a one-click contactless transaction. It’s fast and convenient and most important – secure as it never leaves your hand during a transaction.
Rama Mohan Rao Amara, MD and CEO of SBI Card, said, “CASHBACK SBI Card will further strengthen our core card portfolio. This product is a great example of our ongoing efforts to meet the changing needs of our customers. Throughout our various initiatives, we have meticulously assessed cardholder affinity for online shopping and cash back. Online, we have carefully crafted the SBI CASHBACK card that truly enables customers to enjoy the benefits of cashback on every purchase, every time and everywhere. The launch of this unique card comes at an opportune time, as customers can experience its power every day and make the most of it during the upcoming holiday season. »