Synopsis: This article compares two of the best cashback credit cards based on a ₹20,000 monthly spend, focusing on cashback earnings, fees, and net savings to determine which card delivers better overall value across different spending levels.
Cashback credit cards have emerged as one of the best ways for minimizing expenditure through the rewards generated from online and offline purchases. There are various cashback credit cards available in India; some of the most popular ones include BOBCARD Cashback Credit Card and Cashback SBI Card. However, it is necessary to analyze both these cards with different features including fees, limits, and requirements that may have an impact on their overall cash back benefits.
BOBCARD Cashback Credit Card
- Joining Fee: ₹499 + applicable taxes (annual plan) OR ₹49 per month
- Annual Fee: ₹499 + applicable taxes (annual plan) OR ₹49 per month
- Benefits:
- 5% cashback on eligible domestic online spends (up to ₹1,500 per month)
- Unlimited 1% cashback on all other eligible spends
- Cashback is automatically credited to the card statement every month
- 1% fuel surcharge waiver on fuel transactions between ₹400 and ₹5,000 (maximum ₹250 per statement cycle)
- Up to 3 lifetime free add-on cards
- Smart EMI facility on purchases above ₹2,500
- Zero liability protection on reported lost cards
To apply for the card, please visit the Official Website
Cashback SBI Card
- Joining Fee: ₹999 + applicable taxes
- Annual Fee: ₹999 + applicable taxes
- Annual fee reversal on spending ₹2 lakh or more in a year
- Benefits:
- 5% cashback on online spends without merchant restrictions
- 1% cashback on offline spends
- Maximum cashback capped at ₹4,000 per statement cycle
- Cashback automatically credited within 2 days of the next statement generation
- 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000 at petrol stations across India (maximum ₹100 per statement cycle)
To apply for the card, please visit the Official Website
Card Comparison at ₹20,000 Monthly Spend
Note: At ₹20,000/month spend, both cards give the same cashback, but SBI wins because its ₹999 fee is reversed at ₹2L/year, making it effectively free.
Best Cashback Card by Spend
- BOBCARD Cashback Credit Card is better for users with annual spending below ₹2 lakh or those who prefer a low-fee, simple cashback card without any spending conditions. It is ideal for budget users who want basic cashback benefits with minimal requirements.
- Cashback SBI Card is better for users spending ₹2 lakh+ annually or those with higher online spends, as it offers wider usability, no merchant restrictions, and becomes effectively free due to fee reversal at higher spending levels.
Bottom line
Both BOBCARD Cashback and Cashback SBI Card have great cashback rewards for moderate spenders. While BOBCARD is better for those who want a low-fee structure, SBI Cashback turns out to be more rewarding at higher annual spends owing to its fee reversal benefit, hence proving to be the better long-term option.
