SBI Bank introduces cashback on the SBI Cashback Credit Card
The SBI bank recently introduced its cashback credit card, which has no joining fee and a Rs. 999 renewal fee. As its name suggests, the cardholder enjoys cashback for any purchase, whether it is offline or online.
As per a recent announcement by SBI, the cashback benefits on this credit card will be revised as of May 1, 2023. Here are some of the categories that won’t be eligible for the cashback bonus anymore:
- School and Educational Services
- Insurance Services
- Gift, novelty, and souvenir shops
- Member Financial Institution/Quasi Cash
The maximum cashback, cardholders can earn for both offline and online purchases will be Rs. 5,000. With the SBI credit card, cardholders will not be able to enjoy free domestic lounge access anymore.
As per SBI Cards and Payments, Cashback SBI credit cards will not provide any cashback on these services, such as member financial institution/quasi cash, insurance services cards, jewelry, and many others.
Earlier, this card provided 1% cashback, however, this will not be continued from May 1, 2023. Cardholders won’t receive any cashback on expenses like school fees, utility bills, insurance premiums, etc.
Also, earlier SBI cards offered free domestic lounge access every quarter to their cardholders; however, this benefit will expire with effect from May 1, 2023.