In-depth review
Flipkart SBI Card
SBI's new Flipkart co-brand (₹500, launched August 2025) pays a headline 7.5% on Myntra and 5% on Flipkart, with 4% at four select merchants and 1% elsewhere — all as automatic cashback. It sits alongside the older Axis Flipkart card, which is still open. Excellent if you live inside the Flipkart-Myntra-Cleartrip ecosystem; ordinary if you don't.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹250 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
7.5% cashback at Myntra
7.5% cashback on Myntra — SBI's highest co-brand online rate — capped ₹4,000 per calendar quarter, a separate bucket from the Flipkart cap
5% cashback at Flipkart, Shopsy & Flipkart Travel
5% cashback on Flipkart, including Shopsy and Flipkart Travel merchant IDs, capped ₹4,000 per calendar quarter in its own bucket
Annual Fee Waiver
Fee of ₹500 + 18% GST (₹590 all-in)/yr fully waived when you spend ₹3,50,000/year
🛍️ SHOPPING BENEFITS
Built for Flipkart — here's how your cashback stacks up.
5.0%
Flipkart rate
7.5%
Online shopping rate
PARTNER MERCHANTS
- Co-branded with Flipkart — built for regular shoppers
- 5.0% back on Flipkart purchases
- Accelerated cashback at: Flipkart, Shopsy & Flipkart Travel, Myntra
💰 CASHBACK STRUCTURE
How much you earn back on each type of spend — no points math required.
7.5%
online shopping cashback
1.0%
Base rate (all other spends)
₹1,333
Monthly cap (accelerated)
- 8% cashback on online shopping
- 1.0% on all other spends — no restrictions
- Accelerated cashback capped at ₹1,333/month
For regular Flipkart and Myntra shoppers who want high, automatic cashback for a token fee and don't mind that value is concentrated inside the Flipkart-Myntra-Cleartrip ecosystem.
Full reward structure
What you earn on every rupee, per spend category — as of 11 Oct 2026.
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Online Shoppingonly at Myntra | cashback | 7.5% | ₹1,333 |
| Online Shoppingonly at Flipkart, Shopsy & Flipkart Travel | cashback | 5% | ₹1,333 |
| Travelonly at Cleartrip | cashback | 5% | ₹1,333 |
| Other | cashback | 1% | — |
Online Shopping: 7.5% cashback on Myntra — SBI's highest co-brand online rate — capped ₹4,000 per calendar quarter, a separate bucket from the Flipkart cap · Myntra
Online Shopping: 5% cashback on Flipkart, including Shopsy and Flipkart Travel merchant IDs, capped ₹4,000 per calendar quarter in its own bucket · Flipkart, Shopsy & Flipkart Travel
Travel: 5% cashback on Cleartrip flight & hotel bookings, capped ₹4,000/quarter (the earlier 12%-off Cleartrip deal was a limited promo, now expired) · Cleartrip
Other: 1% unlimited cashback on all other eligible spends. SBI also pays 4% at four select merchants capped ₹4,000/quarter, but does not publish which four — so we do not score it. Nothing under ₹100 earns
Earns nothing on: Fuel · Wallet Loads · Rent · Government & Tax · Education · Insurance · Online Gaming · EMI Conversions · Cash Advances · Jewellery · Gift Cards & Vouchers
These spends earn no rewards at all — not a reduced rate, and not the base rate. They are also normally left out of any milestone or fee-waiver calculation.
Fees & charges
The numbers that matter beyond rewards — verify on the issuer site before applying. Fees below are shown inclusive of 18% GST, as of 11 Oct 2026.
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹590 |
| Joining fee (incl. 18% GST) | ₹590 |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹1,200/yr in total.
1% fuel surcharge waiver on transactions between Rs.500 and Rs.4,000 at all petrol pumps; max waiver Rs.400 per statement cycle
Should you get it?
- Best for: Regular Flipkart and Myntra shoppers, People who want automatic cashback with no redemption effort, Occasional travellers who book on Cleartrip
- Mid tier — a solid all-rounder for steady monthly spend.
- Strongest value if you spend heavily on everyday spends (1% back; 7.5% only at Myntra).
Pros & cons
✓ Pros
- 7.5% cashback on Myntra and 5% on Flipkart — among the best co-brand shopping rates in India
- Each accelerated tier has its own Rs.4,000-per-quarter cap, so Flipkart and Myntra do not compete
- Low Rs.500 fee, reversed on Rs.3.5 lakh of annual spend
- Cashback is automatic — credited within two working days of statement generation
- 5% cashback on Cleartrip plus a 1% fuel surcharge waiver
✕ Cons
- Real value is concentrated on Flipkart, Myntra and Cleartrip — off-ecosystem spend earns only 1%
- A long exclusion list — fuel, rent, government, education, insurance, gaming, jewellery, wallet and voucher loads and EMI all earn 0%
- The welcome benefit is a modest Rs.250 e-gift voucher; the Rs.1,000 first-transaction offer ended 30 June 2026
- SBI names a 4% tier at "4 select merchants" but never says which four
- 3.5% forex markup makes it a poor card for international use
- Cashback rates and preferred-merchant list are subject to SBI/Flipkart co-brand changes
Eligibility & documents
Documents required
- 📄PAN card
- 📄Aadhaar / valid address proof
- 📄Income proof — salary slips (salaried) or ITR (self-employed)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Cashback is credited automatically to your card statement — no manual redemption needed
- 🎁Welcome benefits arrive as a Flipkart gift card and a first-transaction credit
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Direct cash adjustment — no conversion
Real value is concentrated on Flipkart, Myntra and Cleartrip — off-ecosystem spend earns only 1%, the exclusion list is one of the longest in the SBI portfolio, and the 3.5% forex markup rules it out abroad.
Frequently asked questions
How much cashback does the Flipkart SBI Card give?
What is the joining fee and is it reversed?
What welcome benefit do I get?
Is there a fuel surcharge waiver?
How has the Flipkart SBI Card changed over time?
Has the Flipkart SBI Card been devalued recently?
The bottom line
One of the best-value co-brand shopping cards in India if your money goes to Flipkart and Myntra — 7.5% on Myntra for a ₹500 fee is hard to argue with. But it is a specialist; off-ecosystem spend earns just 1%, the exclusion list is long, and the welcome benefit is a modest ₹250, so it should sit alongside a flat everyday card, not replace one.
How this page was built
Counted from this card’s own record: 4 earn rules, 3 of them capped, 3 paid only at named merchants, the spends listed as earning nothing and 1 recorded perk. The renewal fee is conditional — it is waived on a published spend target, so the fee you pay depends on what you spend.
Last updated 11 Oct 2026.
Sources & verification
Fees, reward rates, and benefits for the Flipkart SBI Card are taken from SBI Card's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page. Last updated 11 Oct 2026. Reviewed by Devchandra Sah. Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for SBI Card. All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · last change Jun 2026
2026
- ▼ BenefitEffective 30 Jun 2026
Flipkart-App acquisition offers ended
₹250 e-gift voucher + ₹500 Flipkart e-gift card + ₹500 Cleartrip coupon (Flipkart App applications)→₹250 e-gift voucher only
Two time-limited acquisition offers that ran alongside the card from 26 August 2025 ended on 30 June 2026: a ₹500 Flipkart e-gift card and a flat ₹500 Cleartrip flights coupon, both available only to customers who applied through the Flipkart App and transacted within 30 days. A separate Cleartrip promotion (12% off flights, 25% off hotels) lapsed on the same date. The standing ₹250 Flipkart e-gift voucher on fee realisation is unaffected, as is the permanent 5% Cleartrip cashback tier. We had been carrying the ₹1,000 as part of the card's standing welcome benefit and as an unconditional offer; it was neither.
Verification: SBI Card ↗ · Confidence: High
2025
- ◆ LaunchEffective 26 Aug 2025
Flipkart SBI Card launched
SBI Card and Flipkart launched their co-branded card on 26 August 2025: 7.5% cashback on Myntra, 5% on Flipkart, Shopsy, Flipkart Travel and Cleartrip, 4% at four select merchants (SBI names the tier but has never published which four) and 1% unlimited on all other spends. Each accelerated tier is capped at ₹4,000 cashback per quarter; fuel, wallet loads, rent, government, education, insurance, jewellery, gaming and EMI spends are excluded. Fee is ₹500 (reversed on ₹3.5 lakh annual spend). The standing welcome benefit is a ₹250 Flipkart e-gift voucher within 60 days of fee realisation. Corrected 2026-08-06: we had recorded the welcome as ₹1,250 and named the four merchants as Zomato, Uber, PVR and Netmeds — SBI publishes neither. The extra ₹1,000 was a separate, Flipkart-App-only acquisition offer (see the 2026-06-30 event).
Verification: SBI Card ↗ · Confidence: High
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: <a href="https://cardadvisor.in/cards/sbi-flipkart#value-timeline">Flipkart SBI Card value timeline</a>, CardAdvisor (CC BY 4.0).
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