Paytm SBI Card Review
★ 3 / 5
Updated 31 August 2026 · By Card Jaano. Fees and features are as listed on SBI Card’s own product page on this date. Check the issuer’s site before you apply.
At a Glance
| Joining Fee | ₹499 + GST (₹589 all-in) |
| Annual Fee | ₹499 + GST from the second year, no spend based reversal |
| Best Suited For | Existing holders who book travel and movies through the Paytm app |
| Reward Type | Reward Points at 1 point equal to ₹1, replacing the earlier cashback |
Two things about this card matter more than its rates.
- First, SBI is no longer accepting online applications for it, so this review is written for people who already hold it.
- Second, the structure changed on 1 July 2024: what used to be paid as cashback is now credited as Reward Points of equivalent value, at 1 point to ₹1. The headline numbers of 3%, 2% and 1% did not change, but the money now arrives as points you redeem rather than a credit on your statement.
Rewards & Benefits
Reward rate and earn structure
| Spend category | Earn rate | Cap |
|---|---|---|
| Paytm Mall, movies and travel | 3% back | None published |
| All other purchases on the Paytm app | 2% back | None published |
| Everything else, online and offline | 1% back | None published |
A 1% floor on all other spending is the quietly useful part. Most co-branded cards at this price drop to 0.25% or 0.5% outside their partner, so a flat 1% everywhere means the card is not dead weight when you shop away from Paytm. SBI publishes no monthly cap on any of the three tiers.
Redemption and what a point is worth
One Reward Point equals ₹1, which is why the rates can be quoted as straight percentages. This is a much simpler arrangement than SBI’s usual 4 points to ₹1, and it means the 3% on Paytm travel really is 3% rather than a rate that shrinks at redemption. SBI’s own note confirms the change from cashback to points took effect on 1 July 2024 and that the value is equivalent. If you held this card before that date, your earning rate did not fall, only the delivery method changed.
Welcome, milestone and cover
| Benefit | Requirement |
|---|---|
| Complimentary Paytm First Membership | On joining |
| E-voucher for Paytm First Membership renewal | ₹1,00,000 annual retail spend |
| Cyber fraud insurance cover of ₹1,00,000 | Included |
The cyber fraud cover is worth noting because it is not the same as the standard lost card liability most cards carry. It is aimed at online fraud specifically, which suits a card built around app based spending. The ₹1 lakh milestone needs about ₹8,300 a month, which is a low bar, and it renews the Paytm membership rather than paying you points.
Fuel surcharge waiver
| Waiver rate | 1% of the transaction |
| Eligible transaction band | ₹500 to ₹3,000 |
| Maximum per statement cycle | ₹100 |
Fees & Charges
| Joining fee | ₹499 + GST |
| All-in first year cost | ₹589 |
| Renewal fee, per annum | ₹499 + GST from the second year |
| Spend based fee reversal | None published |
| Add-on card fee, per annum | Nil |
| Fuel surcharge waiver | 1% on ₹500 to ₹3,000, max ₹100 per statement cycle |
GST of 18% takes the real cost to ₹589 a year, with no spend threshold that removes it. At a flat 1% on general spending, about ₹59,000 of ordinary annual spending covers the fee, which most cardholders will clear without effort. That makes it one of the easier low fee cards to keep, provided the Paytm ecosystem still fits how you spend.
The thing that catches people out is the change of currency. Cardholders who signed up expecting cashback landing on their statement now have to redeem points instead, and points sitting unredeemed are not the same as money already credited. If you hold this card, check your reward balance rather than assuming the value has been applied automatically. Interest rates, forex markup and cash advance charges are set out in SBI Card’s Most Important Terms and Conditions for this product.
Eligibility & Documents Required
SBI does not publish an income floor, age band or credit score cut-off for this card, and it is no longer offered for online application, so there is no live eligibility form to check. Existing holders keep the card on the terms above. If you are approaching SBI Card through a branch or relationship channel, expect the standard set: PAN, proof of identity, proof of current address, and either recent salary slips or the last two years of income tax returns if you are self-employed.
Pros & Cons
| Pros | Cons |
|---|---|
| Flat 1% on all spending, with no category exclusions published | Not open to new online applications |
| 1 Reward Point equals ₹1, so rates are true percentages | No airport lounge access at all |
| 3% on Paytm travel and movies with no published cap | Cashback replaced by points from 1 July 2024 |
| Cyber fraud insurance cover of ₹1,00,000 | Milestone pays a membership renewal, not points |
Paytm SBI Credit Card vs Competitors
| Card | Annual fee | Base rate on general spends |
|---|---|---|
| Paytm SBI Credit Card | ₹499 | 1% |
| Paytm SBI Credit Card Select | Higher | Higher tier of the same programme |
| Cashback SBI Card | Charged annually | Flat online cashback, no app tie |
Since this card is closed to new applicants, the useful comparison is for anyone deciding whether to keep it. The Cashback SBI Card pays a higher rate on online spending generally and is still on sale, so it is the natural replacement if your Paytm usage has dropped. The PhonePe SBI Card covers the same territory for a different app.
How to Apply
SBI Card no longer offers this product for online application, so there is no working apply route on its website. Existing holders do not need to do anything and keep the terms above. If you want a comparable low fee SBI card that is still on sale, look at the Cashback SBI Card. You can also call the SBI Card helpline to ask whether the Paytm card is available through any offline channel for your segment.
Frequently Asked Questions
Is the Paytm SBI Credit Card annual fee waived?
No. SBI publishes no spend based reversal. You pay ₹499 + GST, which is ₹589, in the first year and every year afterwards.
Does this card still pay cashback?
Not as cashback. From 1 July 2024 SBI replaced the cashback with Reward Points of equivalent value at 1 point to ₹1. The percentages are unchanged, but you now redeem points rather than receive a statement credit.
Can I still apply for the Paytm SBI Credit Card?
Not online. SBI Card lists the product for information but does not offer it for online application.
Does the Paytm SBI Credit Card give lounge access?
No. SBI lists no domestic or international airport lounge visits on this card.
What do I earn outside the Paytm app?
1% on all other spends across online and offline merchants, with no cap published by SBI. That is a stronger floor than most co-branded cards at this fee level.
What is the cyber fraud cover?
₹1,00,000 of cyber fraud insurance is included with the card. It is aimed at online fraud specifically, separate from ordinary lost card liability.
Bottom Line
Keep it if you already hold it and still use Paytm for travel and movie bookings. At ₹589 a year with a flat 1% floor everywhere and 3% on Paytm travel, it pays for itself on about ₹59,000 of annual spending, and the cyber fraud cover is a sensible extra on a card built for app based purchases.
Do not go looking for it. SBI has closed it to online applications, so there is no reliable way to get one, and the benefits are ordinary enough that chasing an offline route is not worth the effort. If your Paytm usage has fallen away, cancel at renewal and move to a card that is still supported, because a 1% floor is not enough on its own to justify holding a product the issuer has stopped selling.