SBI Card is running a nifty insurance offer on its credit cards. Here is everything you need to know:
|Offer||Flat Rs 500 Cashback on Insurance premium payments|
|Maximum Cashback||Rs 500|
|Minimum Transaction||Rs 10000|
|Offer Validity||20-Jan-2022 to 18-Feb-2022|
|Cashback Fulfillment||By 22-Apr-2022|
|Valid on||All SBI Credit Cards excluding Corporate & Paytm SBI Credit Cards|
How to avail the offer?
The cashback is NOT valid for standing instructions on credit cards for insurance payments. To be eligible for the offer, the premium has to be paid through one of below ways as per the T&C:
- SBI Card Website: Login ->Click on ‘Utility Bill Payment’-> Click on ‘Pay Now’ -> Read disclaimer and click on ‘Proceed’ -> Select ‘Insurance’ category -> Enter details and pay premium
- SBI Card Mobile App: Login ->Click on ‘E-store’-> Click on ‘Bill Pay & Recharge’ -> Read disclaimer and click on ‘Proceed’ -> Select ‘Insurance’ category -> Enter details and pay premium
- Chatbot ILA: Click on ‘Bill Pay & Recharge’ -> Click on ‘Login Here’ -> Enter your User ID & Password -> Search Biller -> Select ‘Insurance’ category -> Select Biller -> Enter details and pay premium
While this is a good offer, it would not be a good fit for many because of the minimum transaction value. Health Insurance premium for a floater plan with sum assured of Rs 5 Lakh would be less than 10K for for most of the people under 40. Senior citizens pay a much higher premium than 10K. This means the Rs 500 cashback will not be more than 2%-3% for most cases.
It would have been better if SBI Card had incremental slabs for cashback or a certain % of transaction value as the cashback.
Have you received this offer on your SBI Card? Do comment and share!