In a landmark partnership, the State Bank of India (SBI), one of India’s largest and most trusted banking institutions, has joined hands with Flipkart, India’s leading e-commerce giant, to launch a co-branded credit card uniquely designed for online shoppers and lifestyle enthusiasts. Named the Flipkart SBI Credit Card, this financial product offers impressive cashback rewards tailored to maximize value across a broad spectrum of popular platforms and services, including Myntra, Flipkart, Cleartrip, Zomato, Uber, and more.
This blog post offers an exhaustive overview of the SBI-Flipkart co-branded credit card—delving into its cashback structure, key benefits, fees, eligibility, and why it caters perfectly to the needs of modern digital consumers. Additionally, you can read Six Best SBI Credit Cards: Features, Eligibility.
Introduction: The Rise of Co-Branded Credit Cards
With digital payments and e-commerce experiencing explosive growth in India, financial institutions are innovating rapidly to meet evolving consumer needs. Co-branded credit cards, which combine banking expertise with the unique offerings of popular brands, have emerged as powerful tools to provide users with rewards tailored to their spending patterns.
The Flipkart SBI Credit Card embodies this trend with its rewarding cashback system primarily designed for frequent shoppers and lifestyle spenders within the Flipkart ecosystem and partner platforms.
Cashback Structure: How Cardholders Maximize Savings
At the heart of this card lies its tiered cashback program, carefully segmented to provide higher returns on purchases made on Flipkart-related platforms and select lifestyle services.
1. Highest Cashback on Myntra: 7.5%
For fashion lovers and lifestyle buyers, the card delivers a standout 7.5% cashback on all Myntra purchases. This is particularly attractive given Myntra’s wide range of fashion, accessories, and lifestyle products. The cashback on Myntra is subject to a quarterly cap of Rs. 4,000 to balance rewarding heavy users while managing risk.
2. 5% Cashback on Flipkart, Shopsy, and Cleartrip
The card offers a 5% cashback on Flipkart, Shopsy, and Cleartrip transactions. Flipkart and Shopsy cover a vast array of categories such as electronics, groceries, home decor, and gadgets—making this category extensive. Cleartrip rewards travelers with 5% cashback on flight and hotel bookings, making the card useful for both daily needs and leisure travel.
3. 4% Cashback on Preferred Merchant Brands
Users also earn 4% cashback on selected popular platforms like:
- Zomato (food delivery)
- Uber (ridesharing)
- Netmeds (pharmaceuticals)
- PVR Cinemas (entertainment)
This array covers key lifestyle domains—food, transport, health, and entertainment—broadening the scope of spending where cashback can be earned.
4. 1% Unlimited Cashback on All Other Eligible Transactions
For transactions falling outside the categories above, the card provides a consistent 1% unlimited cashback with no cap. This ensures users gain rewards even on miscellaneous or occasional spends.
Cashback Caps and Auto-Credit
- Each category’s cashback (7.5%, 5%, and 4%) is capped at Rs. 4,000 per calendar quarter.Advertisement
- The 1% cashback on other spends is uncapped.
- Cashback is automatically credited within two days of the monthly statement generation, enabling swift and hassle-free redemption.
Additional Benefits Beyond Cashback
The Flipkart SBI Credit Card is not only about cashback rewards but also offers several other advantages aimed at convenience, savings, and enhanced usability.
Fee Structure and Waivers
- Joining and Annual Fee: Rs. 500 plus applicable GST.
- Fee Waiver: The annual fee is waived if the cardholder spends Rs. 3.5 lakh or more in a year, rewarding heavy users.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 500 to Rs. 4,000, capped at Rs. 400 per billing cycle, useful for daily commuters.
- Forex Markup Fee: 3.5% on foreign currency transactions; hence best suited primarily for domestic use.
Welcome Rewards and Launch Offers
- New cardholders receive a Rs. 250 Flipkart e-gift card on card activation.
- Additional launch-driven incentives or contests may offer chances to win prizes, especially during festive seasons.
Contactless and Digital-Friendly Features
- Contactless payments enable swift tap-and-go transactions.
- Up to three add-on cards are available for family members.
- Flexible repayment options through Flexipay allow converting transactions above Rs. 2,500 into EMIs within 30 days.
- The card supports Easy Bill Pay for utility payments, enhancing monthly expense management.
- Users benefit from global ATM access for cash withdrawals, though forex charges apply.
Who Should Consider the Flipkart SBI Credit Card?
This card is tailored for:
- Dedicated Flipkart and Myntra Shoppers: Users who shop frequently on these platforms stand to gain the most from the highest cashback slabs.
- Travel Enthusiasts: The 5% cashback on Cleartrip bookings adds value for occasional travelers.
- Lifestyle Consumers: Zomato, Uber, PVR, and Netmeds cashback appeals to people who spend regularly on food, transportation, entertainment, and health.
- Heavy Spenders: The annual fee waiver on crossing Rs. 3.5 lakh spend makes it lucrative for users who put substantial annual spends on their credit cards.
- Digital and Contactless Users: Those embracing contactless and online payments will appreciate the card’s ready integration into digital wallets and apps.
Applying for the Card: Seamless Digital Onboarding
Application for the Flipkart SBI Credit Card can be completed completely online via:
- The Flipkart app
- The official SBI Card website
The digital-first onboarding ensures quick approvals and issues the card swiftly, matching the expectations of modern online shoppers.
Why This Partnership Matters
Flipkart and SBI Card joining forces exemplifies strategic collaboration geared towards consumer empowerment and loyalty enhancement. Flipkart, a dominant player in the Indian e-commerce market, leverages SBI Card’s extensive financial expertise and reach to deliver a credit card that rewards user loyalty while promoting higher digital credit adoption.
SBI Card CEO Salila Pande signifies this initiative as part of SBI Card’s commitment to delivering products that adapt to customer aspirations, especially as e-commerce spending grows exponentially.
Conclusion
The SBI Flipkart co-branded credit card is a powerful financial tool designed for the digital consumer of today. With up to 7.5% cashback on Myntra, 5% cashback on Flipkart, Shopsy, and Cleartrip, and 4% on lifestyle platforms like Zomato and Uber, it provides a broad and rewarding cashback ecosystem. The inclusion of an uncapped 1% cashback on other spends ensures that users benefit irrespective of transaction type.
With a modest joining fee, attractive welcome offers, fuel surcharge waivers, and the potential for the annual fee to be waived, this card offers an excellent balance between cost and rewards. Its seamless digital application process, contactless features, and family add-on options further enhance its appeal. For anyone looking to optimize cashback on everyday spends, online shopping, travel, and lifestyle services in 2025, the SBI Flipkart Credit Card is a standout choice, combining financial benefits with convenience and flexibility. If you want to save some bucks in Petrol and Disel use your credit cards. Click here for more details.