SBI Card has launched 'Cashback SBI Card'. It enables cardholders to earn 5% cashback on all online spending with no merchant restrictions.

Customers across India including Tier 2 and 3 cities can apply for 'Cashback SBI Card' from their homes through the digital application platform 'SBI Card Sprint'.

According to SBI, the contactless Cashback SBI Card is free for the first year till March 2023 as a special offer.

 It said, ‘Cashback SBI Card’ customers will earn unlimited 1% cashback on all spending.

The cashback will increase to 5% on all online spending for up to a maximum of ₹10,000 per monthly statement cycle. 

“Its merchant agnostic nature ensures that the customers are not restricted to shopping with just a few merchants to avail the benefits.

 The card cashback will be automatically credited to the user's SBI card account within two days of their next statement generation.

The joining fee is free for the first year. The annual renewal fee of the card is ₹999 plus applicable taxes.

On reaching the annual spend milestone of ₹2 lakh in a card membership year, a user can enjoy renewal fee reversal.