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Review

SBI Cashback Credit Card (2026) Review

5% cashback on all online spends with no merchant restriction, and what the fee really costs.

Credsir Editorial Team · MBA · 14 years in fintech
Updated 6 Sep 2026

The simplest high-return card in India. If your online spending exceeds about ₹20,000 a month, the 5% pays for the fee several times over and nothing needs to be redeemed or converted. It is issued by SBI Card on the Visa network, and it is best for anyone whose spending is mostly online.

At a glance

Joining fee ₹999
Annual fee ₹999 + GST
Fee waived at ₹2,00,000 annual spend
Effective return 4.2%
Forex markup 3.50%
Lounge access 0 domestic · 0 international
Minimum income ₹3,00,000/yr
Minimum credit score 750+

The 750+ score requirement is the gate most applicants are rejected at rather than income, so it is worth reading how to improve your credit score before you apply.

How we scored it

Component Score out of 5
Credsir rating 3.2
Rewards 4.2
Fees 4.8
Perks 0.0
Accessibility 3.5

Rewards carry 40% of the weight, perks 25%, fees 20% and accessibility 15%. The score is computed from the fields above, not assigned — the full formula is on our methodology page.

What works, what does not

What works

  • Flat 5% online cashback with no category restriction — rare in India
  • Cashback is auto-credited to the statement, no redemption effort
  • Fee waived at ₹2 lakh annual spend, which most cardholders clear

What does not

  • Cashback capped at ₹5,000 per statement cycle
  • Only 1% on offline spends
  • No lounge access at all

The full cost

Charge Amount
Joining fee ₹999
Annual fee ₹999
GST on annual fee (18%) ₹180
Total annual cost ₹1,179
Fee waiver threshold ₹2,00,000 annual spend
Forex markup 3.50% + GST on the markup
Fuel surcharge waiver Yes, 1% (capped)
Finance charge if you revolve Typically 3.5%/month — about 42% a year

Updated 15 Aug 2026 · sbicard.com

The 18% GST on the annual fee is the number most comparisons quietly omit. A ₹2,500 card actually costs ₹2,950 a year. Factor that in before deciding whether the rewards clear the bar, and work the trade-off through on the credit card reward value calculator with your own spend.

Compare with

Card Issuer Rating Effective return Annual fee
Tata Neu Infinity HDFC Bank Credit Card HDFC Bank 3.2 / 5 2.8% ₹1,499
HDFC Bank Millennia Credit Card HDFC Bank 2.8 / 5 2.4% ₹1,000
Axis Bank ACE Credit Card Axis Bank 2.6 / 5 2.2% ₹499

Effective reward rate is our own blended estimate for a typical spend mix — not the accelerated rate an issuer advertises on one category. Annual fees are shown before the 18% GST that is charged on top. Verify current terms on the issuer’s site before applying; card terms change without notice.

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