Synopsis: This article compares the SBI Cashback Credit Card and the Axis Bank Cashback Credit Card and examines if Axis Cashback credit card can compete with SBI Cashback Credit Card.
When it comes to cashback on credit cards, flat 5% sounds simple but upto 7% sounds better. But does a higher percentage rate really mean more savings? We compare the SBI Cashback Card and the Axis Bank Cashback Card with different spending slabs to see which one actually saves you more.
SBI Cashback Credit Card
- Joining Fee: ₹999 + taxes
- Annual Fee: ₹999 + taxes (Fee Waiver on ₹2 lakh annual spend)
- Card Type: Cashback on every spend
- No welcome benefits on that card.
- 5% cashback on all online spends and 1% cashback on offline spends (capped at maximum ₹5000 on both online and offline spends)
- No cashback on Utility, Insurance, Fuel, Rent, Wallet, School & Educational Services, Jewelry, Railways
Please visit the Official Website to apply for the card.
Axis Bank Cashback Credit Card
- Joining Fee: ₹1,000 + taxes
- Annual Fee: ₹1,000 + taxes (Waived of on ₹4 lakh annual spends)
- Card Type: Cashback Card
- 2-7% cashback on all online spends
- 0.75% cashback on offline and travel spends and 0.5% on utlity spends (capped at ₹100/month)
- 5000 EDGE Reward points worth ₹1,000 if a transaction is done within first 30 days of purchasing the card that will compensate the joining fees.
Please visit the Official Website to apply for the card.
Cashback Slab Analysis (Online Spends)
| Monthly Spends | Axis Cashback | SBI Cashback |
| ₹5,000 | ₹100 (2%) | ₹250 (5%) |
| ₹10,000 | ₹500 (5%) | ₹500 (5%) |
| ₹20,000 | ₹1,000 (5%) | ₹1,000 (5%) |
| ₹40,000 | ₹1,750 (5%) | ₹2,000 (5%) |
| ₹50,000 | ₹2,150 (7%) | ₹2,500 (5%) |
| ₹1,00,000 | ₹2,150 (7%) | ₹5,000 (5%) |
Clear Insights from the table
- SBI Cashback is consistently better at low–to–mid spends
- Axis Cashback only becomes competitive at specific levels
- There is a strong cap on Axis Cashback earnings
- Heavy spenders benefit significantly more from SBI Cashback
Also read: ₹5,999 vs ₹2,999 Fee – Is IDFC Mayura Really Worth It Over Ashva Credit Card?
Final Verdict
If your spending is primarily online and you are comfortable paying the annual fee, Axis provides better returns. If you prefer a safer structure with guaranteed fee waiver at lower spend then SBI would be ideal.
Written by Kenbi Riba
