In-depth review
Paytm SBI Card SELECT
A mid-fee card that pays 5% back on Paytm Travel, Movies and Mall, 2% on other Paytm App spends and 1% everywhere else, now credited as Reward Points worth Re. 1 each. Lounge access and a 2-year Priority Pass sweeten a Rs. 1,499 fee that waives at Rs. 2 lakh. Worth it only if Paytm is genuinely your default app.
Read the full review →Key features
What this card is built to do — the highlights that actually matter.
Welcome Benefit
~₹750 in vouchers, points or cashback in year one — usually conditional on a first spend within 30–90 days
5% cashback at Paytm Mall & Movies
5% value back on Paytm Mall and Movies purchases on the Paytm App; other Paytm App purchases earn 2%. Paid as Reward Points at 1 RP = Re.1
5% cashback at Paytm Travel
5% value back (as Reward Points, 1 RP = Re.1) on Paytm Travel, Movies and Mall purchases made on the Paytm App
Airport Lounge Access
Complimentary: 4 domestic airport lounge visits a year (1 a quarter)
Annual Fee Waiver
Fee of ₹1,499 + 18% GST (₹1,769 all-in)/yr fully waived when you spend ₹2,00,000/year
Milestone Bonus
~₹2,000 in bonus rewards on hitting annual spend milestones
Insurance Cover
Complimentary cyber fraud insurance cover of Rs. 2,00,000
✈️ TRAVEL BENEFITS
Lounge access, miles, forex rates and travel perks at a glance.
AIRPORT LOUNGE ACCESS
4 visits/yr
Domestic lounges
₹2,000
Estimated annual value
3.5%
Forex markup
5.0%
Travel reward rate
AIRLINE / TRAVEL PARTNERS
- Domestic airport lounge access (4 domestic visits/yr, worth ~₹2,000)
- Miles on: Paytm Travel
- 5.0% effective return on travel bookings
- Travel insurance cover included
💰 CASHBACK STRUCTURE
How much you earn back on each type of spend — no points math required.
5.0%
online shopping cashback
1.0%
Base rate (all other spends)
- 5.0% cashback on online shopping
- 1.0% on all other spends — no restrictions
For heavy Paytm App users — travel, recharges and shopping — who clear ₹2 lakh a year to waive the fee, and occasional flyers who want lounge access and Priority Pass on a mid-fee card.
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 Paytm Mall & Movies | cashback | 5% | — |
| Travelonly at Paytm Travel | cashback | 5% | — |
| Other | cashback | 1% | — |
Online Shopping: 5% value back on Paytm Mall and Movies purchases on the Paytm App; other Paytm App purchases earn 2%. Paid as Reward Points at 1 RP = Re.1 · Paytm Mall & Movies
Travel: 5% value back (as Reward Points, 1 RP = Re.1) on Paytm Travel, Movies and Mall purchases made on the Paytm App · Paytm Travel
Other: 1% value back on any other online or offline spend, and 1% on UPI transactions; excludes wallet loads, fuel and (from 9 Mar 2026) school and education. Since Jul 2024 paid as Reward Points (1 RP = Re.1), on transactions of Rs. 100 or more
Earns nothing on: Fuel · Rent · Government & Tax · Wallet Loads · Education · Cash Advances
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) | ₹1,769 |
| Joining fee (incl. 18% GST) | ₹1,769 |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹9,200/yr in total.
4 complimentary domestic airport lounge visits a year (max 1 per quarter) on the Visa programme, plus a Priority Pass whose membership fee is waived for two years — but SBI grants NO complimentary Priority Pass visits, every one costs USD 27 plus tax
Rs. 2,000 Hush Puppies/Bata or Pantaloons e-voucher on Rs. 4 lakh of annual retail spend
A further Rs. 4,000 Hush Puppies/Bata or Pantaloons e-voucher on Rs. 6 lakh of annual retail spend
Complimentary cyber fraud insurance cover of Rs. 2,00,000
1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 4,000; maximum Rs. 250 per statement cycle
Milestone ladder
- ₹4,00,000 a year₹2,000 of value
- ₹6,00,000 a year₹4,000 of value
Should you get it?
- Best for: Heavy Paytm App users (travel, recharges, shopping), Occasional flyers who want lounge access on a mid-fee card, Spenders who clear Rs. 2 lakh a year to waive the fee
- Mid tier — a solid all-rounder for steady monthly spend.
- Strongest value if you spend heavily on everyday spends (1% back; 5% only at Paytm Mall & Movies).
- Frequent travellers benefit from the included airport lounge access.
Pros & cons
✓ Pros
- Flat everyday value back on Paytm App spends (5% on Travel, Movies and Mall, 2% other Paytm) plus 1% everywhere else
- Complimentary Super Saver Membership (formerly Paytm First) and Rs. 750 of welcome Reward Points
- 4 domestic lounge visits a year at a Rs. 1,499 fee
- Rs. 2,000 at Rs. 4 lakh and a further Rs. 4,000 at Rs. 6 lakh in milestone vouchers
✕ Cons
- Best value needs your spending concentrated inside the Paytm ecosystem
- Cashback is now paid as Reward Points (since 1 July 2024), not instant cashback
- Fuel, wallet loads and (from 9 March 2026) school and education spends earn nothing
- Nothing under Rs. 100 earns at all — a real limit on a recharge-and-bills card
- The Priority Pass has no complimentary visits; every visit costs USD 27 plus tax
- Milestone vouchers are Hush Puppies/Bata or Pantaloons, materially less liquid than cash
- 3.5% forex markup makes it a poor card for foreign spends
Eligibility & documents
Documents required
- 📄PAN card
- 📄Aadhaar / address proof
- 📄Income proof (salary slips or ITR)
- 📄Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
- 🎁Reward Points redeem at 1 RP = Re. 1 against vouchers and the SBI Card rewards catalogue
- 🎁Value back is credited automatically as Reward Points to your account
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
Best value needs your spending concentrated inside the Paytm ecosystem, and the reward is now paid as Reward Points, not instant cashback.
Frequently asked questions
How does the Paytm SBI Card SELECT reward me?
Is the annual fee waived?
What lounge access does it offer?
How has the Paytm SBI Card SELECT changed over time?
Has the Paytm SBI Card SELECT been devalued recently?
When did the Paytm SBI Card SELECT's fees last change?
How did the Paytm SBI Card SELECT change in 2026?
The bottom line
A well-built co-brand for Paytm power users — fair rewards, a generous lounge-plus-Priority-Pass bundle for the fee and an easy ₹2 lakh waiver. Just don't buy it expecting broad value; its strength lives inside the Paytm App, and outside it you earn a flat 1%.
How this page was built
Counted from this card’s own record: 3 earn rules, 2 paid only at named merchants, the spends listed as earning nothing and 5 recorded perks. 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 Paytm SBI Card SELECT 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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Guides and reviews related to this card.
Paytm SBI Card SELECT
A mid-fee card that pays 5% back on Paytm Travel, Movies and Mall, 2% on other Paytm App spends and 1% everywhere else, now credited as Reward Points worth Re. 1 each. Lounge access and a 2-year Priority Pass sweeten a Rs. 1,499 fee that waives at Rs. 2 lakh. Worth it only if Paytm is genuinely your default app.
Paytm SBI Card
A low-fee entry card for Paytm regulars: 3% on Paytm Mall/Movies/Travel, 2% on other Paytm App spends and 1% everywhere else, now paid as Reward Points worth Re. 1 each. No lounge, no fee waiver — but at Rs. 499 it's an easy first card if Paytm is your default app.
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 2020 · last change Apr 2026
2026
- ▼ RedemptionObserved 26 Feb 2026 · Effective 1 Apr 2026
Statement-credit redemption capped
Unrestricted RP redemption to statement credit→Max 60,000 RP/month, in 4,000-point multiples
From 1 April 2026 SBI capped statement-credit redemption at 60,000 Reward Points per card per calendar month, in multiples of 4,000 RP only (no small or partial redemptions). The 4 RP = Re.1 statement-credit rate is unchanged; the cap limits how fast a Paytm SBI Card SELECT holder can cash out points as statement credit.
Verification: SBI Card ↗ · Confidence: High
- ▼ RewardEffective 9 Mar 2026
School and education spends stop earning
Reward Points earned→No Reward Points on MCC 5111, 5192, 5942, 5943, 5947, 8211, 8220, 8241, 8244, 8299, 8351
From 9 March 2026 the card stopped accruing Reward Points on School and Education spends, named as a numbered clause in the card's own T&C booklet. This one had gone unrecorded on both Paytm cards until the 2026-08-06 SBI audit; it now binds in card-data via an EDUCATION exclusion.
Verification: SBI Card ↗ · Confidence: High
2025
- ▼ FeeEffective 1 Nov 2025
1% fee on third-party education and large wallet loads
From 1 November 2025 SBI Card added a 1% fee on education-fee payments made through third-party apps or aggregators (Paytm/PhonePe/Razorpay etc.; direct school/college-website or campus-POS payments stay free) and a 1% fee on digital-wallet loads above Rs.1,000 - both directly relevant to a card built around the Paytm app.
Verification: SBI Card ↗ · Confidence: High
2024
- ▼ RewardObserved 1 Mar 2024 · Effective 15 Jul 2024
Government transactions stop earning
Reward Points earned→No Reward Points on MCC 9311/9399 etc.
From 15 July 2024 the Paytm SBI Card SELECT, as a co-branded card, stopped accruing Reward Points on government-related transactions - tax payments, fines and government services under MCCs such as 9311 and 9399 - part of an SBI-wide reward-exclusion rollout that reached the core SBI cards on 1 June 2024. Caveat recorded 2026-08-06: neither Paytm T&C booklet lists government or rent in its own exclusion clause, and SBI scopes the portfolio rollout to "certain cards" behind per-card PDFs we could not enumerate. We therefore keep the event but do NOT bind GOVERNMENT or RENT in card-data for the Paytm pair.
Verification: SBI Card ↗ · Confidence: High
- ▼ RedemptionEffective 1 Jul 2024
Cashback replaced by Reward Points
Direct cashback, auto-credited→Reward Points (1 RP = Re.1), redeemed manually
From 1 July 2024 the Paytm SBI Card SELECT stopped paying instant cashback: the same 5%/2%/1% value is now credited as SBI Reward Points at 1 RP = Re.1, which the cardholder must redeem against vouchers or the SBI Card catalogue instead of receiving an automatic cashback credit. The nominal value is unchanged but liquidity and simplicity are reduced.
Verification: CardAdvisor Research · 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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