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SBI Credit Card Reward Points - How to Earn, Redeem and Convert Into Cash?

Updated on: Jul 5th, 2024

7 min read

State Bank of India (SBI) is one of India’s most reputed banking institutions. The bank offers its customers several services along with the credit card facility on their SBI savings or current account. By using SBI credit cards, you can win reward points for shopping, travelling, and buying OTT subscriptions. Moreover, the bank provides several credit cards depending on the needs of its customers.

Keep reading this article as we highlight the best SBI credit cards for winning reward points as well as how to earn and redeem such points.

How to Earn a SBI Credit Card Reward Point?

You can earn SBI credit card reward points by using your card for different online and offline transactions. Different cards are meant for different kinds of transactions. You should go through the terms and conditions of your credit card to know the best way to earn rewards from it.

How to Check the SBI Credit Card Reward Points?

Checking your SBI credit card reward points is easy and comprises of different modes. Below, we have discussed each mode with a detailed breakdown of steps to follow.

Logging in to the Website

You can check your SBI credit card reward points by visiting the net banking portal. Just follow the below steps:

Step 1: Visit the SBI Credit Card portal.

Step 2: Login with your credentials.

Step 3: Go to the dashboard, and scroll to the bottom to find the reward points summary along with the expiry date.

Credit Card Statement

You can find the summary of your reward points on your latest credit card statement. For this, you will have to check the reward points summary section.

Interacting with SBI’s ILA Chatbot

You can interact with SBI’s ILA chatbot to find your statement. Here are the steps to follow:

Step 1: Open the chat box and click on ‘Statement’.

Step 2: Then enter “I want to view my statement”.

Step 3: Log in with your credit card credentials to view your statement.

SMS

You can send an SMS with the following message - "REWARD <space>last 4 digits of your credit card number" to 5676791 to learn about your reward points summary.

Mobile App

You can log in to the SBI Card mobile app to find out the reward points on your SBI credit card.

Giving Missed Call

You can give a missed call at 8422845514 from your registered phone number to find out your SBI credit card reward points.

How to Redeem the SBI Credit Card Reward Points?

You can redeem the SBI credit card reward points via net banking, or using the mobile application. Check below to know the steps for each mode:

Net Banking

Here’s how to redeem SBI credit card points via net banking:

Step 1: Visit the SBI Credit Card portal.

Step 2: Log in using your user ID, mobile number, or card details.

Step 3: Visit the ‘Rewards’ section and click on ‘Redeem Rewards’.

Step 4: From the rewards catalogue, select the items you want to buy.

Step 5: Click on ‘Redeem Now’ to finish the transaction.

Mobile App

Here’s how to redeem SBI card reward points by using SBI’s mobile app:

Step 1: Download SBI’s mobile app from the PlayStore or App Store

Step 2: Log in with your credentials.

Step 3: On the left side, you will find the ‘Rewards’ option. Tap on it.

Step 4: Now tap on ‘Redeem Rewards’.

Step 5: Go through the ‘Rewards Catalogue’ and choose the items that you want to buy.

Step 6: Tap on ‘Redeem’ to confirm the transaction.

SBI Credit Card Reward Points Convert to Cash

To convert SBI credit card reward points to cash, you will have to write an email to SBI or call the helpline number - 1860 180 1290, 1860 500 1290, 1800 180 1290 or 39 02 02 02 (Prefix local STD code).

Top SBI Credit Cards for Earning Reward Points

The table below highlights the best SBI credit card reward points:

SBI Credit Card	Annual Fee	Rewards
SBI Card Elite	Rs. 4,999	Movie tickets worth Rs. 6,000 every year. Win up to 50,000 bonus reward points worth Rs. 12,500/ year. Welcome e-gift voucher worth Rs. 5,000. 5 times more reward points for spending on dining, departmental stores and grocery. Win 2 reward points per transaction of Rs. 100. This does not include buying fuel. 2 domestic airport lounge visits every 3 months. 6 international airport lounge visits every year. Lowest forex markup of 1.99%.
SBI Card Prime	Rs. 2,999	2 reward points per Rs. 100 spent on retail purchases. 10 reward points per Rs. 100 spent on groceries, dining, departmental stores and movies. Welcome e-gift voucher worth Rs. 3,000. 20 reward points per Rs. 100 spent on your birthday. Waiver of renewal fee if you spend Rs. 3 lakh in the previous year. Complimentary Club Vistara Silver membership. 4 complimentary visits per year to International Priority Pass Lounges outside India. 8 complimentary visits per year to Domestic Lounges in India
Doctor's SBI Card (in association with IMA)	Rs. 1,499	It is the only credit card connected with the Indian Medical Association (IMA). Professional indemnity insurance cover of Rs. 20 lakhs. Welcome e-gift voucher worth Rs. 1,500. 5 times more reward points when you spend on medical supplies and travel bookings. 5 times more reward points on transactions on Doctor’s Day (1st July). 1 reward points per Rs. 100 spent on all other spends. 4 complimentary visits per year to International Airport Lounges outside India. 8 complimentary visits per year to Domestic Airport Lounges in India Waiver of renewal fee if you spend Rs. 2 lakh in the previous year. 1% fuel surcharge waiver if the purchase is between Rs. 500 and Rs. 4,000.
SBI Pulse Credit Card	Rs. 1,499	Welcome gift of a smartwatch worth Rs. 5,999. 1 year complimentary FITPASS PRO Membership every year upon renewal. 1 year complimentary Netmeds First Membership every year upon renewal 10 reward points per Rs. 100 spent on chemist, pharmacy, dining and movies. 2 reward points per Rs. 100 spent on all other transactions. Air accident cover of Rs. 50 lakhs and liability insurance cover of Rs. 1 lakh. Waiver of renewal fee on annual spending of Rs. 2 lakhs.
Air India SBI Signature Card	Rs. 4,999	Welcome gift of 20,000 reward points. 4 reward points for each Rs. 100 spent. Cmplimentary membership of the Air India Frequent Flyer program-Flying Returns. International Airport Luxury Lounge access to over 600 airport lounges with complimentary Priority Pass Program. Complimentary Visa Lounge Access Program at major domestic airports in India. 30 reward points on each Rs. 100 spent on Air India flights booked via Air India’s website or app.
BPCL SBI Card OCTANE	Rs. 1,499	25 reward points for each Rs. 100 spent at BPCL Fuel, Lubricants & Bharat Gas. The payment must be via BPCL’s website or app. 10 reward points for each Rs. 100 spent on departmental Stores, dining, grocery and movies. Waiver of 1% fuel surcharge at all BPCL petrol pumps if the transaction is over Rs. 4,000. 6000 bonus reward points equal to Rs. 1500 on payment of annual fees. 4 complimentary visits per year to Domestic VISA lounges in India. Complimentary Fraud Liability cover of 1 lakh.

Characteristics of the SBI Credit Card Reward Points Programme

Before you know how you can redeem your reward points, it is important to know the characteristics of such points. Here, we have covered some of the key features of SBI credit card reward points that you must remain aware of:

Travel Benefits

The SBI credit card reward points offer several travel benefits, such as complimentary lounge access at domestic and international airports. You can also get discounts on flight and hotel bookings while booking through travel platforms.

Fuel Benefits

You can get a 1% fuel surcharge waiver with SBI credit card reward points. With a BPCL SBI Card OCTANE, you can win 25 reward points for every Rs. 100 spent on BPCL products via their website and app.

Dining Benefits

SBI credit cards offer several dining benefits, such as winning reward points for spending a certain amount on dining, groceries, and other expenses.

Renewal Offers

On spending a certain amount in the previous year, your renewal fee for the next year can be waived. However, this is dependent on the variant of the credit card the user is using.

Medical Benefits

The Doctor's SBI Card is the only credit card with the stamp of the Indian Medical Association. With it, you can get professional indemnity insurance coverage of Rs 20 lakh.

SBI Credit Card Rewards Catalogue

You can redeem your SBI credit card reward points across the following categories:

Accessories
Apparel and Superstore
Books and Periodicals
Electronics
Offer of the Month
Entertainment and Dining
E-Voucher
Health and Fitness
Homeware
Kids Zone
Lifestyle
Luxury
Memberships
Travel and Holiday

You can visit the SBI website to check the products you can buy under various categories.

Overall, here we have discussed all the major aspects of SBI credit card reward points that you must remain aware of. You can choose your SBI credit card according to your transaction preferences, as different credit cards provide you with different types of rewards on your accumulated points.

To make the most of your credit card, go for the transactions which yield the maximum rewards. You can redeem your rewards points across categories such as accessories, apparel, books, electronics, e-vouchers, health, lifestyle, travel, and luxury. Also, as discussed above, you can use both net banking and the SBI mobile app to redeem your points by following the steps we mentioned.

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Frequently Asked Questions

How can I check the SBI credit card reward points summary?

You can check it from your latest account statement or by logging in to the net banking portal of SBI Bank.

How much time does it take for SBI credit card reward redemption benefit to reach me?

E-vouchers are usually delivered in 5 days, and gifts are delivered in 15 days.

Are there any charges to redeem SBI credit card reward points?

Yes, you will be charged Rs. 99 + GST for redeeming your SBI credit card reward points.

Can I change the delivery or billing address after placing an order through my SBI credit card?

You should call the customer care number 1860 180 1290 to have the order delivered to your new address.

Do SBI Reward Points expire?

Yes, they have a validity period of 2 years. Thus, they will expire after 2 years.

How to convert SBI reward points to cash?

To convert your SBI credit card reward points for cash, you will have to write an email to SBI or call the helpline number - 1860 180 1290, 1860 500 1290, 1800 180 1290 or 39 02 02 02 (Prefix local STD code).

What is the worth of SBI credit card reward points in rupees?

For most cards, 1 reward point equals Rs. 0.25.

Can I earn reward points on a SBI debit card?

Yes, you can also reward points on a SBI debit card.

Can I redeem my SBI credit card reward points if the card has been closed?

No, once your card has been blocked or closed, it is impossible to redeem your SBI credit card reward points.

Is it possible to pay the SBI Credit Card outstanding by using my reward points?

Yes, you can pay your outstanding balance by using your reward points in the multiples of Rs. 2000.

Do the reward points accrued on my card expire?

Yes, they will expire after 2 years from the date of accumulation.

What are the different options by which the reward points can be redeemed?

The SBI credit card reward points are redeemed by visiting SBI's website or by using the mobile app.

What is the process to redeem the reward points via SBI's mobile app?

After logging in, you have to tap on ‘Rewards’ on the left side and then tap on ‘Redeem Rewards’. Then, you can purchase the items from the rewards catalogue.

What is the process to redeem the reward points on the bank's website?

You have to log in using your credentials and then browse through the rewards catalogue to purchase the items of your choice.

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About the Author

Mayashree Acharya

Senior Content Writer

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

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