SBI Card and Eternal Launch Co-Brand Credit Card: 10% Discount, 5% Cashback, With Caps

SBI Card has launched a new co-branded credit card with Eternal, according to reporting by The Economic Times. The card offers a 10% discount and 5% cashback, and both come with limits.

If you often order food or groceries online, this card could save you money. But the caps decide how much you really get, so read them before you apply.

Key takeaways

• SBI Card and Eternal have launched a new credit card, as reported by The Economic Times.
• The card offers a 10% discount and 5% cashback, each with limits.
• The caps decide your real savings, not the headline rates.
• Pay your bill in full every month, or interest will wipe out the rewards.
• Compare it with the card you already use before you apply.

What is the Eternal SBI Card?

A co-branded card is made by a bank and a brand working together. SBI Card handles the card side, such as billing and your credit limit. Eternal is the company behind consumer apps like Zomato and Blinkit. The brand adds rewards for spending on its own apps.

The reported offer has two parts. One is a 10% discount. The other is 5% cashback. The headline says both have limits, which is common for cards like this.

We only know the headline details. So check the issuer's official page for what counts, where it applies and what the caps are.

Discount vs cashback in simple terms

A discount cuts your bill when you pay. Cashback comes back to you later, often as a statement credit or reward balance. Both lower your cost. The discount helps you right away.

Limits usually work in two ways. First, there may be a cap on how much you can earn each month or year. Second, some spends may not count at all. Fuel, rent and wallet top-ups are often left out on many cards.

What it could mean for your wallet

Here's an illustrative example. The rates come from the headline. The spend amounts are ours, and we've ignored any cap.

Monthly spend	Rate	Benefit before any cap
₹2,000	10% discount	₹200
₹5,000	10% discount	₹500
₹10,000	5% cashback	₹500
₹20,000	5% cashback	₹1,000

Your real savings will be lower if a cap kicks in. Once you hit the cap, you stop earning for that period. So work out your usual monthly spend on the brand's apps first.

Also think about fees. Many cards charge a joining or annual fee. We don't know this card's fee. Subtract it from your yearly rewards to see the true gain.

Interest is the bigger risk. Card interest is often around 3% a month, which is over 40% a year. If you leave ₹10,000 unpaid for one month, that's about ₹300 in interest. It takes away more than half of a ₹500 reward.

Who should look at this card

This card is aimed at people who use the brand's apps a lot. It can suit you if:

• You order food or groceries online several times a month.
• You already hold an SBI Card and pay on time.
• You can clear the full bill every month.

It's a poor fit if you carry a balance from month to month. In that case, the interest will cost far more than the rewards give you. Fixing that debt first is a better move. You can use our EMI calculator to see what a repayment plan would cost.

Students and first-time borrowers should also be careful. A new card is a loan. Each application can leave a mark on your credit report.

What to do now

Don't rush to apply because of a headline. Take a few minutes to check the numbers.

1. Read the full terms on the official SBI Card page.
2. Note the monthly cap and the list of excluded spends.
3. Add up your yearly spend on the brand's apps.
4. Subtract any joining or annual fee.
5. Apply only if the gain beats what your current card gives.

Before you apply, do a quick eligibility check. That helps you avoid a rejection, which can hurt your credit score. For more updates on cards and borrowing, visit our news hub.

Frequently asked questions

What is the Eternal SBI Card?

It's a co-branded credit card from SBI Card and Eternal. As reported by The Economic Times, it offers a 10% discount and 5% cashback with limits.

Is the 10% discount unlimited?

No. The headline says the offers come with limits. Check the issuer's terms for the exact monthly or yearly cap.

Is this card worth it if I don't pay in full?

Usually not. Card interest is often around 3% a month. That can quickly cancel out any discount or cashback you earn.