CASHBACK SBI Card Review: 5% Online Cashback and the 2026 Caps

CASHBACK SBI Card pays 5% cashback on online spends and 1% offline, credited straight to your card account, for a ₹999 annual fee plus GST that is reversed after ₹2 lakh of yearly spend. Since 1 April 2026 each half is capped at ₹2,000 per statement cycle, ₹4,000 in all, and a long list of categories earns nothing. For people who shop online across many sites it is simple and strong, as long as you know where the 5% stops.

By Abhishek Kumar · Content Writer Updated 5 November 2026 Reviewed by BankCreds Financial Experts

Key facts

Joining fee: ₹999 + GST
Annual fee: ₹999 + GST. Renewal Fee is reversed if annual spends for last year >= Rs. 2,00,000.
Base reward: 1% cashback on offline (POS at merchant outlets) spends, max Rs (about 1% value)
Best category: Online spends: about 5% value
Lounge: Domestic: None listed on card page International: None listed on card page
Forex markup: 3.5% of the amount
Network: Visa

Apply on SBI Card's site

Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.

In short

A simple and strong online cashback card for people who cross ₹2 lakh of yearly spend, held back by the April 2026 caps and a long exclusion list.

Best for

People who shop online across many sites rather than one brand
Spenders who reach ₹2 lakh a year, about ₹16,667 a month, so the fee is reversed
Anyone who wants cashback in rupees with no points to manage

Skip it if

Your big card payments are utilities, insurance, rent, fuel or school fees, which earn nothing
You want lounge access, a low forex markup or a RuPay card for UPI

Highlights

Annual fee ₹999 plus GST, reversed at ₹2 lakh of yearly spend
5% online cashback, capped at ₹2,000 per statement cycle
1% offline cashback, capped at ₹2,000 per statement cycle
Cashback is auto-credited and does not expire
Forex markup 3.5% and no lounge access

What the CASHBACK SBI Card offers

CASHBACK SBI Card does one job. It returns 5% of what you spend online, on almost any website, and 1% of what you spend in shops. There are no points, no catalogue and no conversion rate to learn, because the cashback lands in your card account within two working days of the statement and it never expire. It is a Visa card from SBI Cards and Payment Services Limited; our SBI Card hub shows the rest of the range.

What matters most

5% online with no merchant list. Shopping sites, food delivery, travel bookings: if the network marks the payment as online and the category isn't excluded, it count.
The caps since 1 April 2026. Online cashback stops at ₹2,000 per statement cycle and offline at ₹2,000, so ₹4,000 is the most a cycle can pay. ₹2,000 at 5% means the online cap is reached at ₹40,000 of online spends.
A long exclusion list. Fuel, rent, utilities, insurance, education, jewellery, wallet loads and railways earn nothing, so some of your biggest bills may not count at all.

Recent changes and status

The big change came by a letter dated 25 February 2026. From 1 April 2026 SBI Card brought in the ₹2,000 plus ₹2,000 caps with a ₹4,000 ceiling per cycle, and added digital gaming, tolls and government transactions to the exclusions. The card page still talks of 5% "without any merchant restriction" and don't show these caps, so trust the terms, not the banner.

The card is active and open for online applications. One warning if you are moving from another SBI card: switching to CASHBACK forfeit your unredeemed reward points, so use them first. Our credit cards guide covers other cashback options.

CASHBACK SBI Card fees and charges

Annual fee and when it is reversed

You pay ₹999 on joining and ₹999 a year from the second year. With 18% GST added, each of those comes to ₹1,178.82 (₹999 plus ₹179.82). Add-on cards, there is no charge for them.

The renewal fee is reversed once your spends in the previous card year reach ₹2,00,000, which is ₹16,667 a month (₹2,00,000 divided by 12, rounded up). There is no welcome gift to soften year one, so the joining fee is a straight cost that the cashback have to earn back.

Interest and late fees

Any balance you don't clear is charged 3.75% per month, which comes to 45% per year, a level in place since 1 November 2024. Clear the full statement and purchases stay interest-free for 20 to 50 days. A late payment costs between ₹100 and ₹1,300 according to the amount due, nothing when ₹100 or less is due, and another ₹100 is added each cycle once the minimum is missed two cycles running. GST applies on top, and the present slabs started on 1 May 2026.

ATM cash, foreign spends and going over the limit

Cash from an ATM attracts 2.5% or ₹500, whichever is higher, with interest from day one and a ₹15,000 daily ATM ceiling. Foreign currency spends carry 3.5% markup, so a ₹50,000 trip abroad loses ₹1,750 plus GST, and rupee payments of ₹1,000 or more to overseas merchants pay the same rate. Going over your limit, only possible if you consented, costs 2.5% of the excess or ₹600, whichever is more.

Charges on special categories

These hurt more on this card, since most of the same categories also earn no cashback:

Rent through any merchant: ₹199 plus GST per payment.
Utility payments above ₹50,000 in a billing cycle: 1% of the total, since 1 December 2024.
Wallet loads over ₹1,000: 1% of each load, since 1 November 2025.
Education fees through third-party apps: 1% since 1 November 2025, while paying the institution direct is free.
From 1 December 2026: 1% on the whole fuel bill once fuel crosses ₹50,000 in a cycle, and 1% on each transport transaction above ₹30,000.

The 1% fuel surcharge waiver on fills of ₹500 to ₹3,000, up to ₹100 per cycle, still work even though fuel earns no cashback.

CASHBACK: fees and charges

Joining fee	₹999 + GST
Annual or renewal fee	₹999 + GST
Annual fee waiver	Renewal Fee is reversed if annual spends for last year >= Rs. 2,00,000.
Add-on card fee	Nil
GST	Charged on top of the fees and charges listed
In the bank’s words	Annual Fee: Rs. 999 + taxes; Renewal Fee (per annum): Rs. 999 + taxes from second year onwards; Add-on Card Fee (per annum): Nil
Interest on unpaid balances	Up to 3.75% a month (45% a year)
Late payment fee	Nil up to Rs.100; Rs.100 (Rs.100-500); Rs.500 (Rs.500-1,000); Rs.750 (Rs.1,000-10,000); Rs.950 (Rs.10,000-25,000); Rs.1,100 (Rs.25,000-50,000); Rs.1,300 (above Rs.50,000) of outstanding amount due; plus Rs.100 additional if MAD is missed two consecutive cycles (continues each cycle until MAD is cleared). Taxes extra.
Cash withdrawal	2.5% of transaction amount, minimum Rs.500, at domestic and international ATMs; finance charges from the date of withdrawal (no free credit period); max Rs.15,000 cash per day at ATMs (MCC 6011), within cash limit.
Over-limit fee	2.5% of overlimit amount, minimum Rs.600, once per billing cycle; only if the cardholder has consented to over-limit use
Forex markup	3.5% of the amount
Other fees	Rent payments (MCC 6513): Rs.199 + taxes processing fee per transaction Utility payments (MCC 4900): 1% of total utility payments if they exceed Rs.50,000 in a billing cycle (since 1 Dec 2024) Education payments via third-party apps (CRED, Cheq, MobiKwik etc.): 1% of amount (since 1 Nov 2025); paying the school or college directly is free Wallet loads (MCC 6540, 6541): 1% of every load above Rs.1,000 (since 1 Nov 2025) Transportation (MCC 4111, 4784, 4131): 1% of every transaction above Rs.30,000 (from 1 Dec 2026) Fuel (MCC 5172, 5541, 5542, 5983): 1% of total fuel spends if they exceed Rs.50,000 in a billing cycle (from 1 Dec 2026) Dynamic currency conversion fee on INR transactions of Rs.1,000 or more at international locations or overseas-registered merchants: same rate as the card's forex markup Cash payment at SBI branch: Rs.250; cheque payment: Rs.200; payment dishonour: 2% of amount, minimum Rs.500 Card replacement: Rs.100 to Rs.250 (Rs.1,500 for AURUM) Reward redemption fee: Rs.99 on physical products, statement credit and physically sent vouchers (not on AURUM) Priority Pass lounge use beyond complimentary visits: up to USD 27 per visit + taxes Minimum finance charge Rs.25; interest-free period 20 to 50 days on retail purchases only if previous balance paid in full; 3-day grace period after due date

How the cashback works, with three examples

Rates and caps

Online spends earn 5% and offline spends at merchant outlets earn 1%. Whether a payment counts as online is decided by the indicator the card network and the acquiring bank send, not by where you think you shopped. Cashback is rounded down on each transaction and anything below ₹100 earns nothing.

Each half has its own ceiling per statement cycle: ₹2,000 online and ₹2,000 offline, ₹4,000 together. At 5% the online cap fills at ₹40,000 of spend, while the offline cap at 1% would need ₹2,00,000 of shop spending in one cycle, which very less people come near.

What earns nothing

The exclusions cover several of the biggest household bills: fuel, wallet loads, rent and property management, jewellery, schools and education, utilities, insurance, gift and novelty shops, railways, quasi-cash, and since 1 April 2026 digital gaming, tolls and government payments. Bills paid by standing instruction or Fetch and Pay on SBI Card's own app and website are also out, as are merchant EMI, Flexipay, cash, balance transfer, fees and disputed transactions.

Value, expiry and benefits

₹1 of cashback is ₹1 off your bill. It is credited automatically, so there's no redemption fee, no minimum and no expiry date to track. There is no welcome gift and there are no milestone vouchers, the only spend-linked benefit is the fee reversal at ₹2 lakh a year.

Three worked examples

Per month	Light	Typical	Heavy
Online spends	₹6,000	₹18,000	₹50,000
Offline spends	₹6,000	₹12,000	₹30,000
Online cashback	₹300	₹900	₹2,000 (capped)
Offline cashback	₹60	₹120	₹300
Cashback in a year	₹4,320	₹12,240	₹27,600
Renewal fee	₹1,178.82 paid	Reversed	Reversed

Light, ₹12,000 a month. 5% of ₹6,000 online is ₹300 and 1% of ₹6,000 offline is ₹60, so ₹360 a month or ₹4,320 a year. Yearly spend is ₹1,44,000 (₹12,000 times 12), short of ₹2 lakh, so the ₹1,178.82 renewal fee is charged and ₹4,320 less ₹1,178.82 leaves ₹3,141.18.

Typical, ₹30,000 a month. 5% of ₹18,000 is ₹900 and 1% of ₹12,000 is ₹120, so ₹1,020 a month, ₹12,240 a year. ₹30,000 times 12 is ₹3,60,000, which reverses the fee, so all of it is yours from year two.

Heavy, ₹80,000 a month. 5% of ₹50,000 would be ₹2,500, but the cap stops it at ₹2,000, so the last ₹10,000 of online spend earn nothing. Add ₹300 offline and it is ₹2,300 a month, ₹27,600 a year, with the fee reversed. Moving that extra ₹10,000 to another card is making sense.

In the first year everyone pays the joining fee, because the reversal only applies to renewals.

CASHBACK: higher-reward categories

Category	Rate	Cap
Online spends (no merchant restriction)	5% Cashback, about 5% value	Max. cashback Rs. 2,000 per statement cycle on online spends (overall cap Rs. 4,000 per cycle with offline), ₹2,000, statement cycle

CASHBACK: how rewards work

Earned as	Cashback (auto-credited to card account)
Base rate	1% cashback on offline (POS at merchant outlets) spends, max Rs. 2,000 per statement cycle. About 1% value back
Minimum spend rules	Card Cashback is not applicable on transactions less than Rs. 100
No rewards on	Fuel (MCC 5172, 5541, 5542, 5983) Wallet loads (MCC 6540, 6541) Rent / property management (MCC 6513, 7349) Jewellery (MCC 5051, 5094, 7631, 5944) School and educational services (MCC 5111, 5192, 5942, 5943, 8211, 8220, 8241, 8244, 8249, 8299, 8351) Utilities (MCC 4900, 4814, 4816, 4899, 9399) Insurance (MCC 5960, 6300, 6381) Card, gift, novelty and souvenir shops (MCC 5947) Railways (MCC 4011, 4112) Quasi cash (MCC 6011, 6012, 6051) Digital gaming (MCC 7993, 7994, 5816) since 1 Apr 2026 Tolls (MCC 4784) since 1 Apr 2026 Government (MCC 9222, 9311, 9402) since 1 Apr 2026 Standing Instructions / Fetch and Pay on SBI Card platforms Merchant EMI and Flexipay Balance transfer, cash advance, Encash, ATM withdrawals Financial charges, disputed transactions
Lower rewards on	None published
Value of a point	Auto-credit to card account: Cashback credited to the SBI Card account within two working days of statement generation
Redemption fee	Not applicable (cashback is auto-credited)
Expiry	Card Cashback does not expire
Welcome benefits	None published
Milestone benefits	Renewal fee reversed on annual spends of Rs. 2 lakh
Lounge access	Domestic: None listed on card page International: None listed on card page
Fuel surcharge waiver	1% waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps in India; max Rs. 100 per statement cycle
Insurance cover	None listed on card page

CASHBACK SBI Card eligibility and how to apply

SBI Card uses the same broad rules for most of its cards. You must be at least 21 if salaried, over 25 if self-employed and applying online, and retired pensioners above 40 may apply online too. The upper age limit appear twice on SBI Card's eligibility page, once as 60 years and once as 70 years, so ask the bank if you are close to either.

No minimum income is published for this card. SBI Card asks for a stable income and says the minimum differs by card; its card finder puts CASHBACK under the "Less than 50K" monthly income filter, which is only a browsing aid.

Papers you will need

PAN, for digital KYC.
An Aadhaar copy with the first 8 digits masked, or another valid government address proof.
Salary slips or income tax returns, in case SBI Card ask for income proof.

Where to apply

The quickest route is the card page on SBI Card's website. You can also use the ILA chatbot, call 39 02 02 02 after your city's STD code, or walk in to the nearest SBI branch. CASHBACK is not among the secured Advantage cards SBI Card offer against a fixed deposit. Service numbers are on our SBI customer care page.

What decides approval

SBI Card wants a credit score preferably between 750 and 900, a clean repayment record and an address in an area it serves. An SBI bank account is not required. RBI rules make the issuer judge your repayment capacity from your own income and the limits you already have, hand you a one-page Key Fact Statement with the application, and give written reasons if it says no. The decision stays with SBI Card.

CASHBACK: eligibility and documents

Age (salaried)	21 years or above (minimum). Maximum age stated as 60 years in one place and 70 years in another on SBI Card's listing page
Age (self-employed)	Above 25 years (minimum, for online application)
Income (salaried)	Stable income; SBI Card says the specific minimum varies by card and does not publish it for this card
Income (self-employed)	Stable income; minimum not published for this card
Other conditions	Positive credit history preferred; good credit score, preferably between 750 and 900; SBI banking relationship not mandatory; residence must be in a location serviced by SBI Card; retired pensioners above 40 can apply online. SBI Card's card finder files this card under monthly income 'Less than 50K' - a browsing filter, not a stated eligibility minimum.
Documents	PAN card (for digital KYC) Copy of Aadhaar card with first 8 digits masked, or any valid government address proof (for digital KYC) Income documents such as salary slip or income tax return may be required, depending on card eligibility and SBI Card policy
How to apply	Online at sbicard.com (eApply; card pages carry an "Apply Now" link for cards sold online), through the chatbot ILA, by calling the SBI Card helpline 39 02 02 02 (prefix city STD code) or at the nearest SBI branch. Since 23 Sep 2026, SBI fixed-deposit holders can also apply for the secured "Advantage" variants (ELITE, PRIME, SimplyCLICK, SimplySAVE) on SBI's YONO app. Some co-brand cards (PhonePe, Google Pay Flex, Eternal) have no Apply button on sbicard.com.
Card customer care	1860 180 1290 / 1860 500 1290 / 39 02 02 02 (prefix local STD code) / 1800 180 1290 (toll free); AURUM: 1860 500 2000

These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.

CASHBACK SBI Card against its closest rivals

Three cards are worth putting next to it, and each one win in a different situation.

HDFC Bank Millennia. The Millennia Credit Card costs ₹1,000 plus GST, with the waiver at ₹1 lakh, half of CASHBACK's threshold. Its 5% only covers 10 named merchants such as Amazon, Flipkart, Swiggy and Zomato, capped at 1,000 CashPoints a calendar month, so its cap fills at ₹20,000 against ₹40,000 here. Other spends get 1% up to 1,000 CashPoints, and each cashback redemption costs ₹50.

HSBC Live+. The HSBC Live+ card has the same ₹999 fee and ₹2 lakh waiver but pays 10% on dining, food delivery, grocery, shopping and utilities up to ₹1,200 a month, and 1.5% elsewhere including Amazon and Flipkart. It also has a 1.99% forex markup and two domestic lounge visits a year. It needs ₹6 lakh of yearly income and offered only in listed cities.

Flipkart Axis Bank. The Flipkart Axis Bank card is the cheapest here at ₹500 plus GST, though its waiver asks for ₹3.5 lakh. Myntra earns 7.5%, Flipkart and Cleartrip 5% with a ₹4,000 cap per statement quarter on each, Swiggy, Uber and PVR 4%, and other spends 1%.

Your pattern	Better fit
Online spends spread across many sites	CASHBACK SBI Card
Mostly Amazon and Flipkart, under ₹20,000 a month	HDFC Bank Millennia
Big grocery, dining and utility bills, and some foreign travel	HSBC Live+
Flipkart and Myntra loyalist	Flipkart Axis Bank

For a side-by-side on your own numbers, try our card comparison tool.

CASHBACK against similar cards

Term	CASHBACK SBI Card This card	SimplyCLICK SBI Card	Millennia Credit Card	HSBC Live+ Credit Card
Bank	SBI Card	SBI Card	HDFC Bank	HSBC India
Joining fee	₹999 + GST	₹499 + GST	₹1,000 + GST	₹999 + GST
Annual fee and waiver	₹999 + GST. Renewal Fee is reversed if annual spends for last year >= Rs. 2,00,000.	₹499 + GST. Renewal Fee is reversed if annual spends for last year >= Rs. 1,00,000.	₹1,000 + GST. Renewal fee waived on spending ₹1 lakh or more in a year before renewal date.	₹999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 2,00,000
Base reward	1% cashback on offline (POS at merchant outlets) spends, max Rs (about 1% value)	1 Reward Point per Rs. 100 on all other spends (about 0.25% value)	1% CashBack on other spends... (about 1% value)	1.5% unlimited cashback on most other spends (exclusions apply) (about 1.5% value)
Best category	Online spends: about 5% value	Online spends with exclusive partners: Apollo 24x7, BookMyShow, Cleartrip, Domino's, GyFTR, IGP, Myntra, Netmeds, Swiggy, Tata CLiQ, Yatra: about 2.5% value	Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato, non-EMI spends: about 5% value	Dining, food delivery, grocery, shopping and utility spends: about 10% value
Lounges	Domestic: None listed on card page International: None listed on card page	Domestic: None listed on card page International: None listed on card page	Domestic: No standing complimentary lounge access since 1 Dec 2023; 1 domestic lounge access can be chosen instead of the ₹1,000 voucher on the quarterly milestone International: None	Domestic: 2 complimentary domestic lounge visits a year, limited to 1 visit every 6 months International: 1 complimentary international lounge visit a year (from 1 September 2026)
Forex markup	3.5% of the amount	3.5% of the amount	3.5% of the amount	1.99% of the amount
Network	Visa	Visa, Mastercard	Not stated by the bank	Visa
Published minimum income	Stable income; SBI Card says the specific minimum varies by card and does not...	Stable income; SBI Card says the specific minimum varies by card and does not...	₹25,000 a month	₹50,000 a month
Status	Taking applications	Taking applications	Taking applications	Taking applications

Frequently asked questions

What is the CASHBACK SBI Card annual fee and how is it waived?

The joining fee and the yearly renewal fee are ₹999 each, plus 18% GST, so ₹1,178.82. SBI Card reverses the renewal fee if your spends in the previous card year reach ₹2 lakh, about ₹16,667 a month. There is no welcome gift, so the first year's fee is always paid. Add-on cards are free.

How much cashback can I earn in a month?

At most ₹4,000 per statement cycle: ₹2,000 from online spends at 5% and ₹2,000 from offline spends at 1%. The online cap is reached at ₹40,000 of online spend in a cycle. Cashback is credited to your card account within two working days of the statement, does not expire and needs no redemption.

What is the eligibility for the CASHBACK SBI Card?

SBI Card's minimum age is 21 for salaried people and above 25 for the self-employed, while its own eligibility page lists the upper limit as both 60 and 70 years. No income floor is published for CASHBACK; the bank wants a steady income and prefers a score of 750 to 900. Whether to approve is up to SBI Card.

Does the CASHBACK SBI Card have lounge access or low forex fees?

No lounge visits come with this card, domestic or international. Spending in a foreign currency adds a 3.5% markup plus GST, which is ₹1,750 on a ₹50,000 trip before tax. The markup is also charged when you pay ₹1,000 or more in rupees to a merchant registered overseas.

What changed on the CASHBACK SBI Card on 1 April 2026?

SBI Card capped cashback at ₹2,000 per statement cycle on online spends and ₹2,000 on offline spends, with ₹4,000 as the total limit. Digital gaming, tolls and government transactions were also added to the exclusions. The change was announced in a letter dated 25 February 2026 and applies to all cardholders.

Do rent, utility and insurance payments earn cashback on this card?

No. Rent and property management, utilities, insurance, education, fuel, jewellery, railways and wallet loads are all excluded, so they earn no cashback at all. Rent also carries a ₹199 plus GST fee per payment, and utility payments above ₹50,000 in a cycle attract a 1% fee, so these bills are better paid another way.

Sources

SBI Cards and Payment Services Ltd: Most Important Terms & Conditions (PDF 'MITC- Common-30OCT26', Ver FY 27, 16); CASHBACK SBI Card T&C booklet (FAQ 12); CASHBACK SBI Card T&C booklet (section 11); CASHBACK SBI Card T&C booklet (FAQ 21); CASHBACK SBI Card T&C booklet (FAQ 1); CASHBACK SBI Card product page (page content served from SBI Card's card data file); Revision in the benefits of CASHBACK SBI Card; SBI Card credit cards listing page, 'Get ready to apply' checklist (content file /templatedata/common/content-tab); SBI Card credit cards listing page, 'Get ready to apply' checklist; SBI Card credit cards listing page FAQ (content file /templatedata/common/faq)

Last verified: 5 November 2026

Written by Abhishek Kumar, reviewed by BankCreds Financial Experts

BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.