Paytm SBI Card SELECT
Co-branded
Reward Points
1st Year Fee: ₹1,499* Plus Applicable Taxes
Rewards
5% reward points on Paytm spends
Co-branded
Complimentary Paytm First Membership
Lounge Access
4 domestic lounge visits every year
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About Paytm SBI Card SELECT
Paytm SBI Card SELECT is a co-branded credit card offering up to 5% value-back on Paytm spends. The card offers value-back in the form of reward points, which can be redeemed at a 1:1 ratio. Cardholders can earn 5% reward points on movies, travel, and Paytm Mall spends. Besides this, similar to the base variant—Paytm SBI Card, this card also offers 2% rewards on other Paytm spends and 1% on non-Paytm spends.
The card also offers 4 complimentary domestic lounge visits every year along with a complimentary Priority Pass Membership. At the time of joining, the card offers complimentary Paytm First Membership along with reward points worth Rs. 750, which adds to the overall value.
Cardholders can maximize benefits by spending Rs. 6 Lakh in a year and earning brand vouchers worth Rs. 6,000 as milestone benefits. Overall, consumers who prefer to pay & make bookings via Paytm and are looking for a rewards card with basic travel benefits can consider this as an 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
- 750 reward points worth Rs. 750 on card activation
Rewards Program
- 5% 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
Travel & Other Benefits
Complimentary Lounge Access
- 4 complimentary domestic lounge visits in a year (Max. 1 per quarter)
- Complimentary Priority Pass Membership worth $99 for the first two years
Milestone Benefits
- Voucher worth Rs. 2,000 of top brands like Pantaloons, Bata, Hush Puppies and more on spending Rs. 4 Lakh in a year
- Brand voucher of Rs. 4,000 on spending Rs. 6 Lakh in a year
Fuel Surcharge Waiver
- 1% fuel surcharge waiver on fuel spends between Rs. 500 and Rs. 3,000, capped at Rs. 250 per month
Paytm SBI Card: Fees & Charges
| Particulars | Amount | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 1,499 + Applicable Taxes | ||||||||||||||
| Annual Fee | Rs. 1,499 + 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 prefer to shop and make movie or travel bookings via Paytm
You are a frequent traveller looking for basic lounge access benefits
You want to earn accelerated rewards on utility bill payments and insurance premiums
You can spend Rs. 6 Lakh in a year to maximize benefits by earning brand vouchers worth Rs. 6,000
Other Similar Credit Cards
Paytm HDFC Select Credit Card
HDFC Millennia Credit Card
Axis Bank ACE Credit Card
Paisabazaar Review
What do we like about this card?
With up to 5% value-back on Paytm spends, Paytm SBI Card SELECT is a suitable option for consumers who prefer to pay and make bookings via Paytm. The card offers accelerated 5% value-back on movies, travel and Paytm Mall spends, along with 2% on other spends. Besides this, the card also offers a complimentary Paytm First membership and reward points worth Rs. 750 as welcome benefits, enhancing its overall value. Consumers who can easily spend Rs. 6 Lakh in a year can maximize benefits by earning brand vouchers worth Rs. 6,000 as milestone benefits.
Pros
- Complimentary Paytm First Membership
- Complimentary domestic lounge visits every year
- 5% reward points on movies, travel & Paytm Mall spends
- Reward redemption at a value of 1 RP = Rs. 1
- Top brand vouchers worth Rs. 6,000 as milestone benefits
Cons
- No complimentary international lounge visits
- No reward points are offered on rent, fuel & government payments
- Low base reward rate of 1% on non-Paytm spends
Conclusion
While Paytm SBI Card SELECT offers up to 5% value-back on select Paytm spends, it does not significantly differ from the base variant by offering 2% value-back on other Paytm spends and 1% on non-Paytm spends. The card also offers complimentary Priority Pass membership but does not offer complimentary international lounge access, which impacts its overall value. Paytm SBI Card SELECT is a reasonable option for consumers who frequently shop online via Paytm and are looking to earn accelerated rewards on their Paytm transactions.
Frequently Asked Questions
Everything you need to know about this credit card
Yes, as long as you are a resident of India, you can apply for this credit card. However, it is advisable to contact SBI Card customer service to understand the detailed eligibility criteria for this card.
No, only travel, movie, and Paytm Mall purchases made through the Paytm app are eligible for 5% cashback. Other purchases through the Paytm app are eligible for 2% cashback, while all other non-Paytm spends will earn 1% cashback.
Yes, you can pay your electricity, telephone, mobile, and other utility bills via Paytm and earn 2% value-back on these spends. Besides this, you can also make utility bill payments using the Easy Bill Pay facility.
Yes, Paytm SBI Card SELECT offers 4 complimentary domestic lounge visits per year (maximum 1 per quarter). The card also offers a complimentary Priority Pass Membership worth $99 for the first two years. However, it does not include international lounge visits.
You can apply for this credit card online through the Paytm app or the official website of SBI Card. You will need to submit a duly filled application form along with the required documents. Alternatively, you can also apply offline by visiting your nearest SBI branch and submitting the application form in person.
No, you cannot earn reward points on certain categories including wallet loads, fuel, rent, and government transactions.
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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