SBI Cashback Card Credit Card
SBI Cashback Card: judge the cashback benefits against your spending and renewal cost.
By Ash · Issuer source linked 2 October 2026
Check the issuer’s current card terms, availability and eligibility criteria.
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5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
For ₹10,000 of eligible online shopping spending in one modelled cycle, the estimate is ₹500 (5% after the modelled cap). 5% only on eligible online purchases; insurance, utilities, gaming, government and other excluded MCCs earn nothing. ₹2,000 reward-bucket cap per statement cycle; other eligible categories may share it. This example excludes merchant offers, redemption fees, annual milestones and transaction-level rounding. Cap terms: Accelerated rewards may be limited by merchant, transaction or reward period; the earning rules below describe the applicable buckets.
Cardholders who use the benefits listed below and can meet the applicable channel, merchant and spend requirements. Fee-waiver terms: ₹999 renewal fee reversed after ₹2L or more spend in the preceding year.
The annual fee outweighs the benefits you can actually use, or your main spending falls outside the eligible merchants or categories.
5% only on eligible online purchases; insurance, utilities, gaming, government and other excluded MCCs earn nothing.
This row assumes eligible offline/POS spending; eligible online purchases use the separate 5% bucket.
This row assumes eligible offline/POS spending, excluding railways; online eligible bookings use the 5% bucket.
This row assumes eligible offline/POS spending; eligible online purchases use the separate 5% bucket.
This row assumes eligible offline/POS spending; digital gaming is excluded.
This row assumes eligible offline/POS spending; eligible online purchases use the separate 5% bucket.
5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
PROS
- 5% on eligible online spends
- Cashback auto-credited (no redemption hassle)
- Fee waiver on ₹2L spend
CONS
- ₹4K cashback cap per cycle (reduced from ₹5K, Apr 2026)
- ₹2K sub-cap on online + ₹2K on offline
- Fuel/utilities excluded
- New exclusions: digital gaming, tolls, govt transactions (Apr 2026)
- Published earn rules: 5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
- Redemption choice: 5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
- Renewal decision: Listed annual fee: ₹999 before applicable tax. Joining fee: ₹999 before tax. ₹999 renewal fee reversed after ₹2L or more spend in the preceding year. Compare this cost with rewards you can redeem; a fee waiver is not itself a reward.
₹4K cashback cap per cycle (reduced from ₹5K, Apr 2026). ₹2K sub-cap on online + ₹2K on offline. Fuel/utilities excluded. New exclusions: digital gaming, tolls, govt transactions (Apr 2026)
How does SBI Cashback Card earn rewards?
5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
Are points and cashback the same?
5% on eligible online and 1% on eligible offline (POS) purchases. From 1 April 2026: separate ₹2,000 online and ₹2,000 offline caps, ₹4,000 combined per statement cycle. Cashback accrues by transaction posting/settlement date, is credited within 2 working days after the next statement generation, and returns/reversals can be debited. Utility, insurance, fuel, rent, wallet, education, jewellery, railways, merchant/Flexipay EMI and issuer-listed MCCs are excluded; digital gaming, tolls and government MCCs were added in April 2026. ₹999 joining/renewal; renewal reversed at ₹2L+ eligible spend in preceding year.
What should I compare before renewing?
The published fee, applicable tax, waiver conditions and the benefits you use. ₹999 renewal fee reversed after ₹2L or more spend in the preceding year. Exclude unused vouchers and promotional offers from your baseline.