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PhonePe SBI Card Launches with Zero Joining Fee, 5% Online Rewards

PhonePe has announced a limited-period offer for its new co-branded credit card with SBI, waiving the first-year joining fee. The card offers a universal 5% reward on all online purchases and up to 10% on select transactions within the PhonePe ecosystem. It provides travel benefits including complimentary domestic airport lounge access and a Priority Pass membership. The application process is entirely digital through the PhonePe app.

Key Points: PhonePe SBI Card: Zero Fee, 5% Rewards on Online Spends

  • Zero joining fee for first year
  • 5% rewards on all online purchases
  • 10% rewards on PhonePe ecosystem spends
  • Complimentary domestic & international lounge access
  • Fully digital application via PhonePe app
2 min read

PhonePe SBI Card now available with zero joining fee, offers 5 pc rewards on every online spend

Get the new PhonePe SBI credit card with no joining fee, 5% rewards on all online purchases, and lounge access. Apply digitally on PhonePe.

"Users can enjoy the premium benefits of the card at no cost for the first year - PhonePe"

New Delhi, April 6

Digital payments platform PhonePe on Monday announced a limited-period offer on its newly launched co-branded credit card with State Bank of India.

The PhonePe SBI Card is being offered with zero joining fee for the first year, allowing customers to access its benefits without any upfront cost.

"Users can enjoy the premium benefits of the card at no cost for the first year," the fintech platform said.

The card, available on both RuPay and Visa platforms, is tailored for digitally active consumers who frequently transact online.

A key highlight of the card is its universal rewards structure, which offers 5 per cent rewards on all online purchases, regardless of the brand or merchant.

This positions the card as a strong option for users looking to maximise returns on everyday digital spending.

In addition, customers can earn 10 per cent rewards on select categories within the PhonePe ecosystem, including mobile recharges, utility bill payments, and other routine transactions.

The card also extends similar benefits on insurance premium payments made through the platform, helping users save on essential expenses.

For offline usage, particularly through UPI, the RuPay variant of the card offers 1 per cent rewards on scan-and-pay transactions, making even small-value payments more rewarding.

The card also includes travel-related perks, such as complimentary access to domestic airport lounges up to four times a year without any spending threshold.

Users are also provided a two-year Priority Pass membership, enabling access to international airport lounges.

Reward points earned through the card can be redeemed directly against the credit card bill, with each point valued at Rs 1.

This allows users to offset their monthly statements, adding to the card's overall value proposition.

The application process for the PhonePe SBI Card is fully digital and can be completed through the PhonePe app, ensuring a seamless onboarding experience for users.

- IANS

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Reader Comments

P
Priya S
Good offer, but I'm always cautious. What about the annual fee after the first year? And the reward redemption process? SBI cards sometimes have complicated portals. Hope PhonePe makes it simpler.
R
Rohit P
The 10% on PhonePe recharges and bills is the real winner for me. My family's monthly mobile and electricity bills are huge. Getting rewards on those is like a small discount every month. Applying now! 💳
S
Sarah B
Interesting to see RuPay getting such a feature-rich co-branded card. The 1% on UPI transactions is a smart move to encourage digital payments offline. The lounge access is a nice bonus for occasional travelers like me.
V
Vikram M
SBI's approval process can be slow. Hope the fully digital application through PhonePe speeds things up. If they can deliver the card quickly, this will give other fintech cards a tough competition. Jio-Axis, are you listening?
K
Kavya N
Rewards points valued at ₹1 each and redeemable against the bill is so transparent and useful. No more confusing point conversions! This makes budgeting and tracking benefits much easier for the common user.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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