The Paytm SBI Credit Card is a co-branded credit card launched in collaboration between State Bank of India (SBI) and Paytm, India's leading digital payments platform. This card is designed specifically for Paytm users and online shoppers, offering attractive rewards on Paytm transactions, utility bill payments, and other everyday spends. With no joining fee and easy eligibility criteria, it's an excellent choice for millennials and frequent online shoppers looking to maximize their rewards on digital transactions.
Paytm SBI Credit Card - Key Details
Card Issuer
State Bank of India (SBI)
Co-branded Partner
Paytm
Joining Fee
Nil (Free for first year)
Renewal Fee
₹499 + GST (Waived on spending ₹50,000 in previous year)
Card Category
Co-branded, Cashback & Rewards
Reward Rate
5% cashback on Paytm transactions, 1% on other spends
Airport Lounge Access
No
Railway Lounge Access
No
Detailed Overview of Paytm SBI Credit Card
The Paytm SBI Credit Card is designed to reward digital transactions and online shopping. Here are the comprehensive details:
Card Type: Visa/Mastercard (as assigned by SBI)
Interest Rate: 3.35% per month (40.2% per annum)
Fuel Surcharge Waiver: 1% waived at all fuel stations (terms apply)
Cash Withdrawal Limit: Up to 20% of credit limit (subject to charges)
Minimum Due Amount: 5% of total outstanding or ₹200, whichever is higher
Billing Cycle: 20-25 days (varies based on statement date)
Grace Period: 20-25 days interest-free period
Features & Benefits
5% Cashback: On all Paytm transactions including wallet recharge, bill payments, and Paytm Mall purchases
1% Unlimited Cashback: On all other spends anywhere in the world
No Joining Fee: Zero joining fee for first year
Renewal Fee Waiver: Annual fee waived on spending ₹50,000 in previous year
Contactless Payments: Tap-and-pay feature for faster transactions
Easy EMI Conversion: Convert big purchases into EMIs
Fuel Surcharge Waiver: 1% waiver at all fuel stations across India
Complimentary Insurance: Air accident cover up to ₹1 crore
Rewards & Cashback Structure
The Paytm SBI Credit Card offers one of the best reward structures for Paytm users:
Spend Category
Cashback
Capping
Paytm Wallet Recharge
5%
₹500 per month
Paytm Bill Payments (Mobile, DTH, Electricity)
5%
₹500 per month
Paytm Mall Purchases
5%
₹500 per month
All Other Spends
1%
No limit
Note: Cashback is credited to your card account within 30 days from transaction date.
Fees & Charges
Fee Type
Amount
Joining Fee
₹0 (First Year Free)
Annual Fee
₹499 + GST (from second year)
Cash Advance Fee
2.5% of transaction amount (min ₹300)
Late Payment Fee
₹400 + GST
Overlimit Fee
2.5% of overlimit amount (max ₹500)
Foreign Currency Markup
3.5% of transaction amount
Eligibility Criteria
To apply for Paytm SBI Credit Card, you need to meet these basic requirements:
Age: 21-60 years
Income: Minimum ₹15,000 per month (for salaried individuals)
Credit Score: 750 or above recommended
Employment: Salaried or self-employed with regular income
Residence: Indian resident with valid address proof
Existing Relationship: Not mandatory but SBI account holders may get preference
Documents Required
You'll need these documents to apply for Paytm SBI Credit Card:
Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, or Driving License
Address Proof: Aadhaar Card, Passport, Utility Bill (not older than 3 months)
Income Proof:
Salaried: Latest 3 months salary slips or Form 16
Self-employed: ITR for last 2 years with computation of income
Bank Statements: Last 6 months bank statements (for self-employed)
How to Apply for Paytm SBI Credit Card
Follow these simple steps to apply for your Paytm SBI Credit Card:
Visit the official SBI Card website or Paytm app
Navigate to the Paytm SBI Credit Card section
Click on 'Apply Now' button
Fill in your personal, contact and employment details
Upload required documents (PAN, Aadhaar, Income proof)
Complete the video KYC process when prompted
Submit the application and note the reference number
Wait for approval (typically takes 7-10 working days)
Upon approval, your card will be dispatched to your registered address
Tip: Existing Paytm users with good transaction history may get instant approval.
How to Maximize Benefits from Paytm SBI Credit Card
To get the most out of your Paytm SBI Credit Card, follow these usage tips:
Paytm Transactions: Use the card for all Paytm wallet recharges, bill payments and Paytm Mall purchases to get 5% cashback
Utility Bills: Pay electricity, gas, water, DTH and mobile bills through Paytm to earn rewards
Online Shopping: Use the card directly on other e-commerce sites to get 1% cashback on all purchases
Monthly Spends: Plan your monthly spends to reach ₹50,000 annually to get renewal fee waiver
Fuel Purchases: Use at fuel stations to get 1% surcharge waiver (minimum transaction ₹500)
EMI Conversion: Convert big ticket purchases into no-cost EMIs when available
Timely Payments: Always pay your bills on time to avoid late fees and interest charges
Similar Credit Cards from Other Banks
Here are some similar co-branded credit cards you might consider:
Card Name
Bank
Key Features
Amazon Pay ICICI Credit Card
ICICI Bank
5% cashback on Amazon, 2% on other online spends
Flipkart Axis Bank Credit Card
Axis Bank
5% cashback on Flipkart, 1.5% on other spends
Myntra Kotak Credit Card
Kotak Mahindra
5% rewards on Myntra, 1.5% on other spends
HDFC Millennia Credit Card
HDFC Bank
5% cashback on Amazon, Flipkart, etc. (selected merchants)
Official Links & Application
For authentic information and to apply for Paytm SBI Credit Card, visit these official resources:
The Paytm SBI Credit Card is an excellent choice for frequent Paytm users and online shoppers. Here's our detailed assessment:
Pros:
Best-in-class 5% cashback on Paytm transactions
No joining fee makes it risk-free to try
Easy eligibility criteria compared to other SBI cards
Good acceptance as it's a Visa/Mastercard network card
Simple cashback structure without complex reward points system
Cons:
Cashback capped at ₹500 per month across Paytm categories
No lounge access benefits
High interest rates if you revolve credit
Annual fee from second year unless you spend ₹50,000
Verdict: If you're a regular Paytm user who frequently recharges wallet, pays bills or shops on Paytm Mall, this card is a must-have. The 5% cashback effectively gives you discounts on all Paytm transactions. However, if you don't use Paytm much, other cashback cards might be better suited.
Disclaimer
Important: The information provided here about Paytm SBI Credit Card is for general informational purposes only. While we strive to keep the information accurate and up-to-date, we make no representations or warranties of any kind about the completeness or reliability of this information. This is not the official website of SBI Card. For exact terms, conditions and current offers, please always refer to the official SBI Card website. Card features, benefits and fees are subject to change by the issuer without prior notice. Credit card approval is at the sole discretion of SBI Card based on their eligibility criteria.
This comprehensive guide helps you navigate India's credit card landscape with confidence. Learn how to choose the right card, understand fees and rewards, improve your credit score, and use credit cards wisely.
Accumulate points redeemable for free hotel stays, room upgrades, and other benefits.
Example: 10 points per ₹100, 5000 points = 1 free night
Maximizing Your Rewards
✓ Use the right card for each spending category (e.g., travel card for flights, cashback card for groceries)
✓ Take advantage of bonus categories that offer extra points/cashback
✓ Pay attention to reward caps and exclusions
✓ Combine cards to maximize different reward types
✓ Redeem points strategically for maximum value
✗ Avoid carrying balances as interest will negate rewards
Reward Calculator
Your estimated annual rewards: ₹0
Credit Card Fees & Charges
Understanding the various fees associated with credit cards helps avoid surprises and manage costs.
Common Credit Card Fees
Fee Type
Typical Charge
How to Avoid
Joining Fee
₹0-₹50,000
Look for lifetime free cards or first-year free offers
Annual Fee
₹0-₹50,000
Negotiate waiver, meet spend requirements, or downgrade
Interest Charges
24-49% p.a.
Pay full balance by due date every month
Late Payment Fee
₹100-₹1,000
Set up autopay or payment reminders
Cash Advance Fee
2.5-3.5% of amount
Avoid cash withdrawals on credit card
Foreign Transaction Fee
3-4% of transaction
Use cards with no forex markup for international spends
Fee Waiver Strategies
Annual fee waiver: Many banks waive fees if you spend a certain amount annually
Lifetime free cards: Several no-fee cards offer decent rewards
Negotiation: Call customer care to request fee waiver, especially if you're a good customer
Downgrade: Switch to a no-fee version of your card before annual fee is charged
Credit Card Eligibility Criteria
Each bank has specific requirements for approving credit cards based on income, credit score, and other factors.
General Eligibility Requirements
Income Requirements
Minimum annual income typically ranges from ₹1.5 lakh for basic cards to ₹18 lakh+ for premium cards.
Salaried vs self-employed may have different documentation requirements
Age Requirements
Most banks require applicants to be between 21-65 years old (18+ for student cards).
Some premium cards may have higher minimum age requirements
Credit Score
Generally need a score of 750+ for premium cards, 650+ for basic cards.
First-time applicants may get secured or low-limit cards
Employment Status
Salaried, self-employed, or students (with parental consent) can apply.
Some professions may get preferential treatment
Documents Required
Identity Proof: PAN card, Aadhaar, Passport, or Driver's License
Address Proof: Aadhaar, Utility bill, Rental agreement, or Passport
Income Proof: Salary slips (3-6 months), Bank statements, or IT returns
Photos: Usually 1-2 passport size photographs
Credit Card Application Process
Follow these steps to successfully apply for a credit card in India.
1
Check Your Eligibility
Review income, age, and credit score requirements
Compare cards that match your spending habits
Check if you're pre-approved for any cards (through net banking/apps)
2
Gather Required Documents
Identity proof (PAN card mandatory)
Address proof (not older than 3 months)
Income proof (salary slips/bank statements)
Passport size photographs
3
Choose Application Method
Online: Bank website, third-party aggregators
Offline: Bank branch, sales agents, or customer care
Pre-approved: Through existing banking relationship
4
Submit Application
Fill application form completely and accurately
Upload/attach required documents
Review terms and conditions carefully
Submit application and note reference number
5
Verification Process
Bank may call for verification
KYC may be done through video or in-person
Additional documents may be requested
6
Approval & Dispatch
Approval typically takes 3-7 working days
You'll receive SMS/email with approval details
Card is dispatched via courier (2-5 days)
7
Activation & First Use
Activate card via SMS, call, or net banking
Set PIN at ATM or through mobile banking
Make first transaction (some banks require this for activation)
Tips for Faster Approval
Apply with your primary bank where you have accounts/relationships
Ensure all information matches your official documents
Maintain a good credit score (750+)
Follow up politely if processing is delayed
Understanding Credit Scores
Your credit score is a crucial factor in credit card approvals and interest rates offered.
What is a Credit Score?
A 3-digit number (300-900) that represents your creditworthiness based on your credit history. In India, CIBIL is the most popular bureau, followed by Experian, Equifax, and CRIF High Mark.
750
300 (Poor)600 (Fair)750 (Good)900 (Excellent)
How Credit Scores Are Calculated
Payment History (35%): Timely payments boost score, late payments hurt
Credit Utilization (30%): Keep below 30% of total limit
Credit Age (15%): Longer credit history is better
Credit Mix (10%): Healthy mix of different credit types
New Credit (10%): Too many new applications can lower score
Improving Your Credit Score
Pay On Time
Set up autopay or reminders to never miss due dates.
Keep Utilization Low
Aim to use less than 30% of your total credit limit.
Limit New Applications
Space out credit applications by 6+ months.
Maintain Old Accounts
Don't close old credit cards as they help credit history length.
Be aware of these common credit card scams and protect yourself from fraud:
1. Phishing Calls/SMS
How it works: Scammers call/SMS pretending to be from your bank, asking for card details or OTP to "update records" or "unblock card".
Protection: Never share OTP, CVV, or PIN. Banks never ask for these details.
2. Fake Reward Points
How it works: You get messages saying you've earned reward points with a link to claim them, which is actually a phishing site.
Protection: Always check reward points through official bank apps/websites only.
3. Skimming Devices
How it works: Fraudsters install devices on ATMs/swipe machines to steal card data when you use them.
Protection: Use contactless payments or cover PIN pad when entering PIN. Check for tampering.
4. Fake Customer Care Numbers
How it works: Fraudsters list fake customer care numbers online that connect to them instead of the bank.
Protection: Always use customer care numbers from official bank cards/statements.
What to Do If Scammed
Immediately call bank's official customer care to block card
Change all online banking passwords
File complaint with bank and cyber crime police
Monitor statements for unauthorized transactions
Know the Credit Card Traps
These common traps can lead to debt if you're not careful:
1. Minimum Payment Trap
Paying only the minimum amount due (typically 5% of balance) leads to high interest charges that keep growing.
Solution: Always pay full balance by due date.
2. Reward Points Obsession
Spending more just to earn rewards often costs more than the rewards' value.
Solution: Use card for planned purchases only.
3. EMI Conversion Offers
Converting purchases to EMIs seems convenient but often has hidden charges and higher effective interest.
Solution: Read all terms before converting to EMI.
4. Free Credit Period Misunderstanding
Many think all purchases get 50-day interest-free period, but cash advances and some transactions don't qualify.
Solution: Understand your billing cycle and due dates.
5. Annual Fee Waiver Conditions
Some cards waive fees only if you spend a certain amount, which may tempt you to overspend.
Solution: Choose no-fee cards or negotiate waivers.
Think Before Spending
Responsible credit card use requires mindful spending habits:
Questions to Ask Before Every Purchase
Do I really need this or just want it?
Can I pay the full amount when the bill comes?
Is this purchase within my monthly budget?
Am I buying this just to earn reward points?
Would I buy this if I had to pay cash right now?
Smart Spending Strategies
Budget First
Set a monthly spending limit for your card based on your income and expenses.
Track Regularly
Check your spending weekly using bank apps to stay on track.
Use Alerts
Enable SMS/email alerts for all transactions to monitor spending.
Separate Needs/Wants
Use different cards for essential vs discretionary spending.
The 30-Day Rule
For non-essential purchases over ₹5,000, wait 30 days. If you still want/need it after 30 days, then buy it.
How You Can Make Money Through Credit Cards
Smart credit card use can actually help you earn money if done responsibly:
1. Sign-up Bonuses
Many cards offer cash bonuses or reward points when you spend a certain amount in the first few months.
Example: Spend ₹50,000 in first 3 months and get ₹5,000 cashback.
2. Reward Arbitrage
Use cards that give more points for specific categories and redeem for maximum value.
Example: Use travel card for flight bookings to earn miles worth more than cashback.
3. Referral Programs
Earn money by referring friends to apply for cards through your referral link.
Example: Some banks pay ₹1,000-5,000 per successful referral.
4. Reselling Gift Cards
Buy discounted gift cards using reward points and resell them for cash.
Note: Check bank policies as some prohibit this.
5. Flipping Products
Buy products during card-specific sales (with additional discounts) and resell.
Example: Buy electronics during 10% cashback offers and sell at 5% profit.
Important Warning
These methods require discipline. Never spend just to earn rewards or you'll lose more than you gain.
Always pay full balance on time to avoid interest charges that negate earnings.
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List of All Credit Cards Available in India
Discover a comprehensive list of credit cards available in India, featuring card names, issuers, types, and links for more information. Whether you're seeking cashback, travel rewards, or lifestyle benefits, find the ideal card to match your financial goals.
Please read this disclaimer carefully before using the information provided on this website.
Information Accuracy: The information provided regarding credit cards, including features, fees, rewards, and eligibility criteria, is for general informational purposes only. While we strive to keep the information up-to-date and accurate, credit card terms and conditions are subject to change by issuers without prior notice. We do not guarantee the absolute accuracy, completeness, or timeliness of the information presented.
Official Sources: For the most accurate and latest information, always refer to the official websites of credit card issuers and banks. These are the primary sources for all credit card-related information and applications.
Financial Advice: This website does not provide financial advice. The content is for informational purposes only and should not be construed as professional financial advice. You should consult with a qualified financial advisor before making any financial decisions.
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