Quick Summary

1. 5% cashback on most online spends
2. ₹5,000 monthly cashback cap
3. No lounge access
4. No rewards on utilities, rent, education, or wallet loads
5. Annual fee: ₹999 + GST (waived on ₹2L annual spend)

If you spend more than ₹10,000–₹15,000 online every month, this card still makes financial sense in 2026. Now let’s go deeper.

SBI Cashback Credit Card – Quick Review 2026

Feature	Details
Online Cashback	5%
Monthly Cashback Cap	₹5,000
Annual Fee	₹999 + GST
Fee Waiver	₹2L Annual Spend
Lounge Access	No
Forex Markup	3.5% + GST
Reward Type	Direct Cashback
Best For	Online Shoppers

Why Did This SBI Cashback Credit Card Become So Popular From 2022 to 2026?

When SBI launched this card in late 2022, it changed the cashback game. Before this, most cards in India followed one of these models:

• Reward points (confusing redemption values)
• Partner-brand restrictions
• Category-based rotating rewards
• Low monthly caps

SBI simplified everything:

SBI Cashback Credit Card Review.

Flat 5% cashback on online spends.

No brand loyalty.
No redemption problem.
No reward problem.

That simplicity is what made it powerful. But in 2024 and 2025, exclusions began to increase. So the real question in 2026 is:

Is it still worth applying for today?

How SBI Cashback Credit Card Actually Works

Let’s remove confusion. This SBI Cashback card works based on the Merchant Category Code. If a transaction is classified as:

Online Retail Purchase

You get 5% cashback.

If it falls under excluded categories, you get 0%. That’s it.

No points.
No vouchers.
No conversion ratios.

Cashback is credited automatically after statement generation.

Where You Actually Get 5% Cashback in real life

Here’s where the card still performs extremely well:

✔ E-commerce

Amazon
Flipkart
Myntra
Ajio
Zara
Uniqlo

✔ Travel Bookings

MakeMyTrip
Cleartrip
EaseMyTrip
Yatra
Airline websites

✔ Food & Delivery

Swiggy
Zomato
Domino’s App
Starbucks App

✔ Software & Subscriptions

Netflix
Spotify
ChatGPT
Adobe
Zoho
Hosting providers

✔ Direct Brand Websites (D2C)

Nike
Boat
Mamaearth
Small Shopify stores

This is where SBI still beats most cards. Many competitor cards drop to 1% outside partner brands.

SBI doesn’t.

SBI Cashback vs HDFC Millennia Credit Card (2026): Which Card Actually Returns More Money to Your Pocket?

Read this full review

Where You Get ZERO Cashback In real life. Almost 0

Utility Bills (Electricity, Water, Gas)

MCC 4900 excluded.
Above ₹50,000 utility spend → 1% fee

School / Education Payments

Via third-party apps → 1% fee + 0 cashback.

In Wallet Adds

Paytm / PhonePe / Amazon Pay wallet loads
1% fee above ₹1,000.

House rent Payments

No cashback.
Extra charges also add

EMI Convert
If converted to EMI (even No Cost EMI) → No cashback.

You must understand this: This card is for online retail spending.
Not for bills.

Should You Apply for an SBI Cashback Credit Card in 2026?

If you match, then yes

1. You spend ₹10,000–₹50,000 online monthly
2. You shop across multiple websites
3. You prefer cashback instead of reward points
4. Your CIBIL score is 750+

Avoid if:

1. You mainly pay electricity, rent, and school fees
2. You want lounge access
3. You don’t pay full credit card bills

Why This Card Still Ranks #1 for Online Cashback

Despite multiple exclusions introduced after 2024, the SBI Cashback card continues to offer one of the highest flat cashback structures in India for general online retail spending

Annual Fee and Break-Even

Annual Fee: ₹999 + GST
Total: ~₹1,180

Waiver: Spend ₹2,00,000 in a year.

Let’s calculate break-even.

To recover ₹1,180 at 5% cashback:

You need to spend ₹23,600 online annually.

That’s less than ₹2,000 per month.

If you spend even ₹5,000 per month online, this card easily pays for itself.

Monthly Cashback Cap: The Real Advantage

This is where SBI dominates.

Maximum cashback per billing cycle = ₹5,000.

Which means:

You can spend ₹1,00,000 online and still earn the full 5%.

Compare that to HDFC Millennia:

Cap = ₹1,000 per month
Effective 5% spend = ₹20,000

If you buy a ₹70,000 iPhone:

HDFC → ₹1,000 cashback
SBI → ₹3,500 cashback

Big difference.

My Personal Usage (January 2026)

Here’s a realistic example:

Uniqlo – ₹8,000 → ₹400 cashback
Hostinger – ₹6,000 → ₹300 cashback
Swiggy – ₹4,000 → ₹200 cashback
Amazon – ₹12,000 → ₹600 cashback

Total Spend: ₹30,000 Cashback Earned: ₹1,500

That’s direct bill reduction. No redemption process.

Is It Good for International Transactions?

Yes, technically. But Forex markup = 3.5% + GST. Net gain becomes very small (around 1%).

If you travel internationally, use a zero-forex card instead.

Application Process: What You Should Know

SBI uses Sprint for digital applications.

Common rejection reasons:

• Too many recent credit enquiries
• Address mismatch with Aadhaar
• Already holding an SBI card (limit gets split)
• Low CIBIL score (<750)

before applying:

• Wait 3 months if you recently applied for other cards.
• Ensure the Aadhaar address is correct.
• Be available for physical verification.
• Try to get the limit enhancement on existing SBI cards first

(Practical View)

SBI Cashback vs HDFC Millennia

SBI wins:

• Higher cap
• Universal online coverage

HDFC wins:

• Lounge access
• Festival instant discount offers

SBI Cashback vs Amazon Pay ICICI

Amazon Pay:

• Lifetime free
• Unlimited 5% on Amazon

SBI:

• 5% across most online sites

Best strategy:
Use Amazon Pay for Amazon.
Use SBI for everything else

SBI Cashback vs Swiggy HDFC

Swiggy card:

• 10% on Swiggy
• 1% elsewhere

SBI:

• 5% everywhere

The Hdfc Swiggy card is a specialist.
SBI is an all-rounder.

Ideal Wallet Strategy (Optimised Setup)

If you want to maximise savings:

Primary Card → SBI Cashback (online retail)

Utility Card → Airtel Axis / Tata Neu (bills)

Travel Card → Lounge access card (HDFC / Scapia)

Combined yearly benefit can exceed ₹20,000–₹30,000.

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Common Problems & Solutions

Cashback Not Credited

Wait until statement generation.
If still missing, raise a transaction dispute via email.

Low Credit Limit

Use it heavily for 3 months.
Pay on time.
Request limit enhancement.

International Transactions Declined

Enable international usage in the SBI Card App.

Pros and Cons (Clear View)

Pros

• 5% flat cashback on most online spends
• High monthly cap (₹5,000)
• Direct cashback credit
• Works on almost all payment gateways

Cons

• Growing exclusion list
• No lounge access
• Forex markup high
• Application process inconsistent
• Customer support average

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Final Verdict: Is SBI Cashback Still Worth It?

Yes — but only if used correctly. It is no longer a “use for everything” card. It is a high-return online shopping card.

If you:

• Avoid excluded categories
• Pay the full bill on time
• Maximise the 5% cap

This card still delivers one of the best cashback structures in India.

For pure online spending, it remains hard to beat.

FAQs

Is SBI Cashback really flat 5%?

It offers 5% on eligible online retail transactions, subject to exclusions and ₹5,000 monthly cap.

What is SBI Cashback maximum cashback per month?

₹5,000 per billing cycle.

Does SBI Cashback offer lounge access?

No.

Is SBI Cashback good for utility bills?

No. Utility payments are excluded.

Is SBI Cashback better than HDFC Millennia?

SBI Cashback vs HDFC Millennia Credit Card (2026): Which Card Actually Returns More Money to Your Pocket?