State Bank of India
Cashback
The Cashback SBI Card remains a popular entry-level pick, offering a flat 5% cashback on online spends and 1% on offline purchases. However, as of April 2026, the monthly cashback is now capped at ₹4,000, with a strict ₹2,000 sub-limit for online transactions, effectively capping your 5% reward rate at ₹40,000 monthly spend.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 27 May 2026.
At a Glance
Annual Fee
₹999
Joining Fee
₹999
Fee Waiver
Spend ₹2,00,000 annually
Lounge Access
See details
Forex Markup
3.5%
Effective Yield
1% – 5%
Our Take
The Cashback SBI Card remains a popular entry-level pick, offering a flat 5% cashback on online spends and 1% on offline purchases. However, as of April 2026, the monthly cashback is now capped at ₹4,000, with a strict ₹2,000 sub-limit for online transactions, effectively capping your 5% reward rate at ₹40,000 monthly spend.April 2026 brought a double-blow to this card's "no-nonsense" reputation. Beyond the reduced ₹4,000 total monthly cap, a new "Multiple of 4,000" redemption rule now applies to statement credits. This means you can no longer receive small monthly credits; you must accumulate ₹4,000 in rewards before redeeming, effectively "locking" your money for months unless you are a high spender. Additionally, Government transactions, Tolls, and Digital Gaming have been added to the exclusion list, joining rent, fuel, and utilities. While the ₹2 lakh annual fee waiver is still fair, the increased friction in redeeming rewards significantly dampens its "Points Pro" appeal.
Pros
- Merchant-Agnostic 5% Cashback: Earns a flat 5% cashback on nearly all online spends without being tied to specific platforms like Amazon or Flipkart. This 'anywhere online' flexibility remains its strongest selling point against co-branded competitors.
- Seamless Auto-Credit Mechanism: Unlike most cards that require manual redemption or have minimum 'reward point' thresholds, the cashback earned is automatically credited to your statement within two working days of the statement generation.
- Broad 1% Offline Base Rate: Provides a consistent 1% cashback on physical point-of-sale (POS) transactions. While not groundbreaking, it ensures a baseline return on almost every swipe where cashback is applicable.
- Attainable Annual Fee Waiver: The ₹999 + GST renewal fee is waived upon reaching ₹2 Lakhs in annual spending. For a primary card user, this is a very realistic milestone to achieve 'Lifetime Free' utility.
- Fuel Surcharge Waiver: Offers a 1% fuel surcharge waiver for transactions between ₹500 and ₹3,000 (capped at ₹100 per cycle). While modest, it provides a small buffer for those who don't hold a dedicated fuel card.
Cons
- Strict New Capping (April 2026): As of April 1, 2026, the 5% online cashback is now strictly capped at ₹2,000 per statement cycle. This means you only earn the high rate on the first ₹40,000 spent online; anything beyond that earns zero cashback.
- Overall Monthly Ceiling: Total cashback (Online + Offline) is now capped at ₹4,000 per cycle. Even if you spend heavily in both categories, SBI has hard-capped the maximum 'value' you can extract from the card each month.
- No Rewards on EMI Transactions: Spending on Merchant EMIs or using the 'Flexipay' feature will not earn any cashback. This is a significant drawback for users who prefer to break down large electronics or appliance purchases into installments.
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| Online Spends (Universal) | 5% Cashback | 5.00% | ₹2,000 per billing cycle |
| Offline / POS Spends | 1% Cashback | 1.00% | ₹2,000 per billing cycle |
| Excluded Categories | No Cashback | 0.0% | — |
Milestone Rewards
| Spend | Benefit | Value | Summary |
|---|---|---|---|
| ₹2 Lakh | Renewal Fee Waiver0 pts | ₹999 + GST Savings | Annual fee for the next year is waived if you spend ₹2L in the preceding year. |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| Statement Credit | ₹1.00 per point1:1 Ratio | Multiples of 4,000 only (April 2026 Rule) |
What You Need to Know
New Split Capping
Effective April 1, 2026, the total ₹4,000 cap is split: ₹2,000 for Online and ₹2,000 for Offline.
Impact: High online spenders lose out; previously you could earn all ₹5,000 via online alone.
Redemption Block Size
Statement credit can now only be claimed in blocks of 4,000 Cashback points.
Impact: Forces a minimum spend of ₹80,000 (online) before you can see a single rupee credited.
New 2026 Exclusions
Digital Gaming, Tolls, and Government transactions no longer earn any cashback.
Impact: Reduces utility for heavy travelers (tolls) or users paying property taxes/fines.
Merchant EMI Exclusion
Transactions converted to EMI at the point of sale do not earn any cashback.
Impact: Avoid using this card for high-value electronics purchases if opting for EMIs.
Essential Fine Print
Reward Exclusions
Excluded Categories (No Cashback): No cashback is earned on Fuel, Jewelry, School & Educational Services, Insurance, Utilities, Gift Cards (Voucher) purchases, Railways, Tolls and Government Services. Please check the SBI website for the latest list of exclusions.
Milestone Benefits
Annual Fee Reversal
Renewal fee of ₹999 is waived upon reaching annual spends of ₹2 Lakhs in the previous year.
Additional Features
5% Cashback on Online Spends
Earn 5% cashback on all online spends (except excluded categories) with no merchant-specific restrictions. Capped at ₹5,000 per statement cycle.
1% Cashback on Offline Spends
Earn 1% cashback on all offline spends and utilities. No upper limit on 1% cashback earnings.
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | ₹999 |
| Annual / Renewal Fee | ₹999 |
| Fee Waiver Threshold | Spend ₹2,00,000 annually |
| Forex Markup | 3.5% |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Age
Age between 21-70 years
Employment
Must have a steady, verifiable income.
Ready to apply for Cashback?
Annual fee: ₹999 · Waived on ₹2,00,000 spend
Annual fee
₹999
1% – 5% yield