SBI Cashback Credit Card Review 2026: Should You Apply?

The SBI Cashback Card set the gold standard for cashback in India.

But after the April 1, 2026 devaluation, many are asking: Is it dead? The short answer is No.

Even with the new ₹2,000 monthly cap, it remains my go-to card for everyday expenses. I’ve been using this card since 2024 and have earned ₹77,000+ in cashback 🤑 to date.

In this 2026 review, I will fully analyze the SBI Cashback Card and show you the 3 specific hacks I use to force 5% cashback on “excluded” spends like utility bills, fuel, and jewelry.

Overview

Particulars	Details
Card Type	Cashback
Joining/Annual Fee	₹999 + GST
Welcome/Renewal Benefit	None
Renewal Fee Waiver	Spend ₹2 Lakhs in a year
Redemption	Direct Statement Credit 💸
Eligibility (Income)	Salaried: ₹30,000/mo | Self-Employed: ₹5L ITR
Best For	Online and everyday spends (5% cashback)

Features & Benefits

Features	What You Get
Online Cashback	5% Cashback (Capped at ₹2,000/mo).
Offline Cashback	1% Cashback (Capped at ₹2,000/mo).
Merchant Freedom	No merchant restrictions—works on Amazon, Flipkart, Zomato, Apple, Swiggy, and more.
Fuel Benefit	1% Fuel Surcharge Waiver (on txn between ₹500 – ₹3,000).
Add-on Cards	Up to 3 free add-on cards for family members.
Forex Fee	3.5% + GST
Lounge Access	None

Key Takeaway: SBI Cashback is a value-driven card with hard cash benefit. Don’t expect travel and lifestyle benefits like lounge access, zero forex, etc. Check out the 2026’s best cards for lounge access with no spend conditions.

April 2026 Devaluation

Starting April 1, 2026:

1. The ₹5,000/month Cap is Gone. New cashback limits:

• Online Spends: 5% cashback up to  ₹2,000 per month.
• Offline Spends: 1% cashback up to ₹2,000 per month (sperately).

2. No cashback on Tolls, Government-related Transactions, and Digital Gaming in addition to the existing exclusions (Fuel, Education, Rent, Wallet, Utilities, Insurance, Jewelry).

Why I Still Keep It? (The Math)

Even after the devaluation, the math is simple: This card still pays for itself 20 times over.

• The ROI: With a ₹1,180 (Fee + GST) fee, you only need to spend ₹23,600 per year online to break even. Everything after that is pure profit.
• Annual Savings: If you max out the new ₹2,000 monthly cap, you earn ₹24,000 in a year—without even counting the 1% offline cashback.
• The Waiver: If you spend ₹2 Lakhs annually (avg. ₹16,666/month), the fee is waived entirely, making your ₹10,000+ cashback 100% free.

I have been using the SBI Cashback card since 2024, and have earned 77K+ cashback till date.

Best of all, I have earned all this mostly paying my bills. Here’s how I use the card to force 5% cashback on categories that are officially excluded.

SBI Cashback Card Tricks

SBI excludes fuel, electricity, water, gas, and broadband bills from earning cashback. If you pay the biller directly, you get nothing.

But I don’t settle for nothing.

5% cashback on utility bills

Here’s how to get 5% cashback on utility bills:

1. Open the Amazon App
   Ensure you have an active Amazon account.
2. Buy an Amazon Pay Gift Card
   Go to the “Gift Cards” section and purchase a voucher for the amount of your bill.
3. Pay with SBI Cashback Card
   This counts as an “Online Shopping” transaction, earning you the full 5% cashback.
4. Load to Wallet
   Add the voucher code to your Amazon Pay balance.
5. Pay Your Bill
   Use the balance to pay your electricity, water, or broadband bill via Amazon Pay.

Result: You just saved 5% on recharges and utility bills that officially earn zero cashback.

5% cashback on fuel

Step-by-step trick to get 5% cashback on fuel:

1. Visit a Gift Card Platform
   Open an online portal like Woohoo or Gyftr.
2. Select IOCL Vouchers
   Choose the Indian Oil (IOCL) fuel voucher of your desired denomination.
3. Checkout using SBI Cashback Card
   Since this is an online gift card purchase, it triggers the 5% cashback.
4. Redeem at Petrol Pump
   Present the voucher (SMS/Email) at any authorized IOCL pump during your next refill.

Result: You get 5% cashback on fuel, avoiding the fuel surcharge as well.

5% cashback on jewelry

I recently bought silver bars and received the 5% cashback. Here’s how:

1. Open the AJIO App/Website
   Search for gold & silver coins, or fine jewelry.
2. Add to Cart
   Select your items and proceed to the payment page.
3. Pay via SBI Cashback Card
   Complete the transaction directly on the AJIO platform.
4. Verification
   Check your SBICARD app for cashback earned within 2 days.

How it works: SBICARD categorizes AJIO transactions as “Apparel & Accessories” rather than “Jewelry.” Since it’s an online spend under a non-excluded category, it triggers the full 5% reward.

The Result: You earn the full 5% online cashback on gold and silver. As you can see in my screenshot above, I bought silver bars worth ₹37,910 on AJIO and earned ₹1,895 cashback i.e. 5% on a single AJIO purchase, bringing my total earnings to ₹77,696.

SBI Cashback vs. The Rivals

I personally hold all the major cashback cards in the market, and my strategy is simple: Optimization over Loyalty. Here is how the SBI Cashback card stacks up against the competitors in my wallet:

Swipe ➡️ to view the complete table

Feature	SBI Cashback	Swiggy HDFC (BLCK)	Amazon Pay ICICI	SBI Tata Neu Infinity
Annual Fee	₹999 + GST (waived at ₹2 lakhs spend)	No Joining Fee; ₹1000 + GST (waived at ₹2 lakhs spend)	Lifetime Free	₹1499 + GST (waived at ₹3 lakhs spend)
Online Reward	5% (Universal)	10% (Swiggy), 5% (online)	5% (Amazon Purchases)	5% on Tata Brands + 5% on Tata Neu
Monthly Cap	₹2,000	₹1,500	Unlimited	Unlimited
Reward Redemption	Direct statement credit	Direct statement credit	Amazon pay balance	TataNeu Coins
Lounge Access	None	None	None	8 Dom / 4 Int
Best For	Everyday online spends	Swiggy and online retail spends	Unlimited cashback on Amazon retail spends	UPI and Tata Neu spends

My Personal Experience

While I use SBI Cashback as my go to card, I also have:

• Swiggy HDFC (BLCK): While the 10% on Swiggy, Instamart, and Dineout is great, the card is highly restricted. I tried using it for Amazon vouchers and AJIO jewelry—zero cashback. I keep it because I got it as a Lifetime Free (LTF) card for food delivery and dining.
• Amazon Pay ICICI: It’s a solid LTF card, but it’s “lazy.” It gives 5% on Amazon and almost nothing elsewhere. It has no “hacks” for fuel or utilities.
• Tata Neu Infinity (RuPay): This is my go-to for UPI spends (1.5% cashback) and the Tata ecosystem (Taj/Croma/TataCliq). I’ve stopped using it for utilities because of the new convenience fees. However, I frequently use it for Airport Lounge access.

Final Verdict

Should you apply the SBI Cashback card in 2026?

Yes, definitely.

If I had to choose one card to carry, it would be the SBI Cashback Card.

Even with the April 2026 devaluation, its versatility is unmatched. By using the Amazon Pay and AJIO hacks mentioned above, I can force this card to give me 5% cashback on categories where every other card on this list fails.

Pros

• Universal 5% cashback: Works on almost any website (Uber, Myntra, Apple, Zomato).
• Statement Credit: Real money, not “points” or “coins.”
• The Hack Factor: 5% on Utilities, Fuel, and Jewelry.

Cons

• Cap: ₹2,000 monthly limit on 5% spends.
• Extras: No lounge access or movie benefits.

My Rating: 4.5/5 ⭐ (Higher than competitors due to versatility)

The Bottom Line: Don’t let the ₹999 fee scare you. If you spend at least ₹2,000 a month online, this card is literally free money.

Are you a SBI Cashback card user? Share your views in the comments!

FAQs

Disclaimer: I am not a financial advisor and this review is for educational purposes. The cashback figures and “hacks” mentioned in this post (such as the AJIO and Amazon Pay workarounds) are based on my personal usage and current credit card statements. Banks can change Merchant Category Codes (MCC) or terms and conditions at any time without prior notice. Always test with a small transaction first.