SBI and Flipkart Unveil Co-Branded Credit Card Offering Up to 7.5% Cashback for Online Shoppers
August 28, 2025 — In a new move aimed at rewarding online shoppers, the State Bank of India (SBI) and Flipkart have jointly launched a co-branded credit card tailored to customers within the Flipkart shopping ecosystem. The card promises attractive cashback benefits across popular platforms such as Myntra, Flipkart, Shopsy, and Cleartrip, making it an appealing option for lifestyle and e-commerce buyers across India.
Attractive Cashback Benefits Across Multiple Platforms
The newly introduced SBI Flipkart Credit Card is distinguished by a robust cashback program designed specifically for users who frequently shop across Flipkart’s partner platforms. Key highlights of the cashback structure include:
- 7.5% cashback on all purchases made on Myntra, catering especially to fashion and lifestyle buyers looking for significant savings.
- 5% cashback on spending on Flipkart, Shopsy, and Cleartrip, covering a broad range of products and services from electronics to travel bookings.
- 4% cashback on select partner brands including Zomato, Uber, Netmeds, and PVR, providing rewards on food delivery, ridesharing, pharmacy, and entertainment expenses.
- 1% unlimited cashback on all other eligible purchases outside these categories, ensuring cardholders continue to enjoy benefits even beyond the Flipkart ecosystem.
Cashback rewards are capped quarterly at Rs. 4,000 per category. Moreover, the cashback is automatically credited to the cardholder’s SBI Card account within two days of the statement generation, simplifying the redemption process.
Fee Structure and Additional Benefits
The SBI Flipkart Credit Card carries a joining and annual renewal fee of Rs. 500 plus applicable GST. This fee is fully refundable for customers who spend Rs. 3,50,000 or more annually on the card. This effectively waives the fee for active users, increasing the card’s affordability and value.
Additional perks include a 1% fuel surcharge waiver, capped at Rs. 400 per statement cycle, benefiting regular fuel spenders. However, foreign currency transactions attract a forex markup fee of 3.5%, making this card predominantly beneficial for domestic usage within the Flipkart ecosystem and partner brands.
Welcome and Launch Offers
To enhance initial adoption, new cardholders receive a welcome benefit of Rs. 250 in the form of a Flipkart e-gift card. During the launch period, SBI and Flipkart have also introduced a limited-time contest offering applicants a chance to win attractive prizes daily.
Easy Application Process and Flexibility
The card is available on both Mastercard and VISA networks, offering users the flexibility to choose a card variant that aligns with their preferences. The application process is fully digital and can be completed via the Flipkart app or directly on the SBI Card website, ensuring a convenient onboarding experience.
Who Should Consider the SBI Flipkart Credit Card?
This co-branded credit card is especially ideal for:
- Frequent shoppers of Flipkart and Myntra aiming to maximize savings on fashion and general online purchases.
- Professionals and families that regularly use Flipkart’s ecosystem for groceries, electronics, travel, and home essentials.
- Users who frequently transact on brands like Zomato, Uber, and Netmeds to leverage the 4% cashback.
- Customers seeking a digital-first, cashback-heavy lifestyle card with quarterly caps but substantial rewards in popular categories.
Considerations Before Applying
- Heavy international travelers may find the forex markup fee of 3.5% less attractive.
- Individuals with annual spends below Rs. 1 lakh may see the Rs. 500 fee outweigh the cashback benefits.
- Those who prefer other e-commerce platforms or predominantly shop offline might not gain significant value from this card.
Summary of Key Features
| Feature | Details |
|---|---|
| Joining & Annual Fee | Rs. 500 + GST (refundable on annual spends of Rs. 3,50,000) |
| Welcome Benefit | Rs. 250 Flipkart e-gift card |
| Cashback on Myntra | 7.5% cashback (up to Rs. 4,000 per quarter) |
| Cashback on Flipkart, Shopsy, Cleartrip | 5% cashback (up to Rs. 4,000 per quarter) |
| Cashback on Select Brands | 4% cashback (Zomato, Uber, Netmeds, PVR; up to Rs. 4,000 per quarter) |
| Cashback on Other Spending | 1% unlimited cashback |
| Fuel Surcharge Waiver | 1% waiver, capped at Rs. 400 per statement cycle |
| Forex Markup Fee | 3.5% on foreign currency transactions |
| Cashback Credit | Auto credited within 2 days of statement generation |
| Card Networks | VISA & Mastercard |
| Application Mode | Online via Flipkart app or SBI Card website |
Final Thoughts
The SBI Flipkart Co-branded Credit Card stands out as a compelling financial product for India’s growing base of digital-first shoppers. With lucrative cashback offers of up to 7.5% on Myntra and strong rewards on Flipkart, Shopsy, Cleartrip, and other lifestyle brands, it aligns well with the spending habits of the modern e-commerce customer. Its seamless online application and enticing launch offers further contribute to its appeal at a time when online retail continues to gain prominence in India.
For shoppers who extensively use the Flipkart ecosystem and seek to maximize cashback rewards, this card could prove to be a valuable addition to their wallet.
Written by Adithya Menon for Smart Money Mindset