Paytm SBI Card
Co-branded
Reward Points
1st Year Fee: ₹499* Plus Applicable Taxes
Co-branded
3% reward points on Paytm spends
Rewards
1% reward points on non-Paytm spends
Welcome Benefits
Complimentary Paytm First Membership
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About Paytm SBI Card
Paytm SBI Card is a co-branded, entry-level credit card and the base variant of the Paytm SBI Card SELECT. It offers 3% reward points on travel, movies, and Paytm Mall spends, along with 2% reward points on other Paytm spends. For non-Paytm spends, the card offers a base reward rate of 1%. Cardholders can redeem the accumulated reward points at a value of 1 RP = Rs. 1.
Unlike other similar cards – Paytm HDFC Credit Card, this card offers a complimentary Paytm First membership as a welcome benefit. Cardholders can renew this membership annually by spending Rs. 1 Lakh, an easily achievable milestone even for moderate spenders.
However, the card does not offer an annual fee waiver or dining benefits, which are offered by Paytm HDFC Credit Card. But it compensates for it through the Paytm First membership benefit. Overall, for consumers who prefer shopping and making payments online via Paytm and are looking for an entry-level card with basic benefits, this card can be a suitable option.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit SBI Card’s website.
Welcome Benefits & Rewards Program
Welcome Benefit
- Complimentary 1-year Paytm First Membership on card activation
Rewards Program
- 3% reward points on Paytm Mall, movies and travel spends via Paytm
- 2% reward points on other spends at Paytm
- 1% reward points on spends at other categories1,2
- Redeem reward points at a value of 1 RP = Rs. 1
Other Features & Benefits
Milestone Benefit
- Renewal of Paytm First Membership on spending Rs. 1 Lakh in a year
Fuel Surcharge Waiver
- 1% fuel surcharge waiver on fuel spends between Rs. 500 and Rs. 3,000, capped at Rs. 100 per month
Insurance Coverage
- Cyber fraud insurance cover of Rs. 1 Lakh
Paytm SBI Card: Fees & Charges
| Particulars | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 499 + Applicable Taxes | ||||||||||||||
| Annual Fee | Rs. 499 + Applicable Taxes | ||||||||||||||
| Finance Charges | 3.75% p.m. (45% p.a.) | ||||||||||||||
| Late Payment Charges |
|
Things to Know Before you apply
Get this card if
You are looking for an entry-level credit card with basic benefits
You prefer shopping and making payments online via Paytm
You can spend Rs. 1 Lakh every year for the renewal of Paytm First Membership
You want to earn accelerated reward points on all Paytm spends
Other Similar Credit Cards
Paytm HDFC Credit Card
Amazon Pay ICICI Credit Card
HDFC Millennia Credit Card
Axis Bank ACE Credit Card
Paisabazaar Review
What do we like about this card?
Paytm SBI Card is an entry-level credit card that comes with relaxed eligibility criteria and is best suited for consumers who prefer to shop and pay via Paytm. Cardholders can earn 3% rewards on travel, movies & Paytm Mall spends and 2% rewards on other Paytm spends with a reward redemption ratio of 1:1. The card also offers a complimentary Paytm First Membership as a welcome benefit, giving it an edge over another similar card – Paytm HDFC Credit Card, which no longer offers this benefit. Also, cardholders can renew this membership by spending Rs. 1 Lakh in a year.
Pros
- Complimentary Paytm First Membership
- Up to 3% reward points on movies, travel & Paytm Mall spends
- Reward redemption at a value of 1 RP = Rs. 1
- Easily achievable spending milestone for renewal of Paytm First Membership
Cons
- No annual fee waiver
- No lifestyle & travel benefits
- Low base reward rate of 1% on non-Paytm spends
- No reward points are offered on rent, fuel & government payments
Frequently Asked Questions
Everything you need to know about this credit card
No, the card offers value-back in the form of reward points, which are redeemable at a value of 1 Reward Point = Rs. 1
The credit limit is determined by SBI Card based on various factors such as credit score, repayment history, monthly income, and more. Therefore, you will get to know your assigned credit limit once your application is approved.
The card charges a joining and annual fee of Rs. 500. However, it offers a complimentary Paytm First Membership as a welcome benefit. You can also renew this membership every year by spending Rs. 1 Lakh annually.
No, Paytm SBI Credit Card does not offer complimentary lounge access. However, you can still save on your travel spends by earning 3% reward points on travel bookings made via Paytm.
You can apply for this credit card online either by visiting the official SBI Card website and submitting a duly filled application form, or through the Paytm app. If you prefer to apply offline, you can visit any of the nearest SBI branches and submit the application form in person.
Yes, the card offers renewal of the complimentary Paytm First Membership on achieving annual spends of Rs. 1 Lakh.
Footnotes
- All QR based transactions made via Paytm app will be categorized under 1% cashback category.
- No reward points are offered on wallet load, fuel, rent and government transactions.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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