Key facts
- Joining fee
- ₹999
- Annual fee
- ₹999, waived if you spent ₹2 lakh in the previous year
- Cashback
- 5% on online spends, 1% offline
- Monthly cap
- Since 1 Apr 2026: ₹2,000 online plus ₹2,000 offline per statement cycle (₹4,000 in total)
- How you're paid
- Credited to your card account automatically within 2 working days of the statement date. It doesn't expire.
- No cashback on
- EMI and Flexipay, utilities, insurance, fuel, rent, wallet loads, education, jewellery, railways and, since April 2026, gaming, tolls and government payments
- Fuel
- 1% surcharge waiver on ₹500–₹3,000 transactions, up to ₹100 a cycle
- Lounge access
- None listed
- Forex markup
- 3.5% + GST
Checked against SBI Cashback card page, SBI Cashback FAQ, SBI revision notice (Feb 2026), SBI Card MITC on 28 Oct 2026. Fees exclude 18% GST.
Good
- 5% online on any merchant, not a partner list
- Real cashback on your statement, credited automatically
- Fee waived at ₹2 lakh a year
Watch out
- ₹999 fee unless you spend ₹2 lakh
- Online cashback capped at ₹2,000 a cycle since April 2026
- Long and growing exclusion list
- No lounge access
What it's worth
Spend ₹20,000 a month online and you get ₹1,000 back each month, ₹12,000 a year. At that rate you'd also cross the ₹2 lakh fee waiver comfortably. The cap only matters above about ₹40,000 of online spend in a statement cycle.
On Amazon.in it earns the same 5% as the Amazon Pay ICICI card gives Prime members, but as cash you can spend anywhere, within the cap.
The catch
Utilities, insurance, rent, fuel, wallet loads, education, railways, EMI and, since April 2026, gaming, tolls and government payments earn nothing. Read "online" as "online shopping": bills paid online mostly don't count.
Who it suits
Anyone who shops online across many sites (Amazon, Flipkart, Myntra, travel sites) and wants cash rather than points. If you shop almost only on Amazon and have Prime, the lifetime-free Amazon Pay ICICI card does the same job for no fee.
Applying
After the online form, most banks ask for a short video KYC call. Keep your original PAN card, a white sheet of paper and a pen ready. Here's how to get through it first time, and how to resume if you stopped midway.