SBI Reward Points – SBI stands for the State Bank of India; it’s an Indian Multinational public sector banking and financial services statutory body. Founded in 1955, it is now the 43rd largest bank in the world. SBI has its headquarters in Mumbai, India.
SBI Reward Points
The SBI card reward point offers come under the SBI Rewardz program. At SBI customers are eligible to earn reward points as an added advantage. These reward points are given to the customer along with every purchase they make using their credit card.
 It is a company-wide loyalty program that rewards its customers for various transactions (shopping, traveling, paying bills) across many banking services. The reward points earned so can be used for many things such as exchanging it for merchandise, vouchers, gifts, clearing your credit card bill, reversing your fees among others.
How To Earn SBI Reward Points
The program allows you to earn rewards by simply following a few rules:
- For every Rs50 spent on your debit card, 1 reward point is earned.
- SBI has partnered with certain networks and companies and if your card swiped at those particular sites, then you earn extra rewards points.
- You get 50 bonus rewards, 50 additional rewards, and 100 additional rewards on your card purchase within a month of issuance.
- With a minimum of 3 transactions per quarter, the rewards earned during that time would double for Silver, Classic, or Gold cardholders.
- The rewards for the Platinum cardholders triple.
SBI Reward points catalog
With the reward points earned by the customer and getting it redeemed, it then spent to pay for several different things such as:
- E-vouchers
- Travel and Holidays
- Dining and Entertainment
- Health and Fitness
- Apparel and Accessories
- Lifestyle and Luxury
- Homeware and Kitchen
- Appliances
- Payments done for brands like Apple, Phillipe, Prestige, Wildcraft, American Tourister, Titan, Fab India, Paul Smith, Yatra, Shoppers Stop, etc.
How to redeem SBI Reward points online
After collecting enough reward points, getting them redeemed is the next step. It allows them to use for the purposes listed above:
- The process of redeeming points done by both online and offline methods
- If you are redeeming your reward points online then it has done either by Net banking or the Mobile app
Points redeemed by using SBI’s net banking facility by following a few steps, which we have compiled below for you:
- Open the Net Banking website of SBI.
- Log in to the SBI Card portal, using your customer ID and Password.
- Go to the rewards section on the dashboard.
- Click on ‘redeem rewards’ under that.
- Choose the filter for Reward points, City and Category.
- Check the items on the ‘Rewards catalog’ and select the ones according to your choice.
- Click on the ‘redeem now’ button to complete the transaction.
Redeem SBI Reward Points Through SBI Mobile App
The alternative method to redeem points is to make use of the Mobile app option, it can be done by following the provided steps:
- Download the SBI card application.
- Log in to the SBI card app using your Customer ID and Password.
- On the left-hand side menu, click on the ‘rewards’ option.
- From the dropdown menu, click on the ‘Redeem rewards’ option.
- Choose the desired filters – Rewards points, City, and Category.
- From the ‘Rewards catalog’ select the items as per your choice.
- Click on ‘Redeem Now’ to complete the transaction.
How To Redeem SBI Reward Points Offline
Customers can also redeem their reward points offline, by simply making a call to the customer care of SBI and the executive will walk you through the process. For other updates check Timesalert.
- After calling the SBI Customer Care number on – 8422845514.
- The Customer Care Executive will help you through the process of point redemption.
- Payment done in points or the ‘points+pay’ option. Any additional charges can be put on the customer’s credit card.
FAQs On SBI reward Points
Q- Are there any charges on the SBI card as the redemption fee?
A-On the redemption of rewards points, Rs 99.00 along with any GST will be levied.
Q-Is there any expiration date for the accumulated reward points?
A-Reward points accumulated for a period of 24 months, beyond which they will lapse.
Q-How can a customer check his/her reward points summary?
A- At the end of all the credit card statements, the closing balance of the reward points also shown. It also checked on the mobile app or by sending a message to SBI.
Q-What is the cash value of reward points?
A-The value of the reward points is different for different cards. For some 1 reward point=1 air mile and some 1 reward point= Rs 0.25 cash.
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