Is SBI Co-Branded Credit Card Better Than the Bank’s Own Credit Card? Here’s the Answer

 

SBI Cashback Card

SBI Cashback Card

5% direct cashback on select online merchants (Flipkart, Amazon, Myntra, etc.)

1% cashback on offline spends

No cashback on insurance, utility bills, fuel, rent, wallet loads

Zero annual fee

Cashback is credited directly to the statement—no redemption needed


10% reward points on PhonePe app spends (utilities, insurance, recharges, Pincode, etc.)

5% on 1,000+ online merchants

1% on all other eligible spends

Monthly caps: 2,000 (10% tier), 2,000 (5%), 500 (1%)

Annual fee: ₹1,499

Waived with high annual spend

₹1,500 welcome voucher offsets the fee

Lifetime free variants available (as of Aug 2025)

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