Flipkart partners with SBI Card to launch co-branded credit card that offers up to 7.5% cashback

SBI Cards and Payment Services and Flipkart have unveiled a co-branded credit card designed to deepen consumer engagement across India’s rapidly expanding e-commerce sector.

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The “Flipkart SBI Credit Card,” launched in the presence of State Bank of India chairman Challa Sreenivasulu Setty and managing director Ashwini Kumar Tewari, is available on both Mastercard and Visa platforms.

Customers can apply digitally through the Flipkart app or via SBI Card’s website.

The card offers 7.5% cashback on purchases from Myntra and 5% cashback on spends at Flipkart, Shopsy and Cleartrip, subject to quarterly limits of Rs 4,000 per category.

It also provides 4% cashback on select partners such as Zomato, Uber, Netmeds and PVR, along with 1% unlimited cashback on other eligible transactions. Cardholders are further entitled to a 1% fuel surcharge waiver of up to Rs 400 per statement cycle.

The Flipkart SBI Card carries a joining and renewal fee of Rs 500 plus taxes. New cardholders receive welcome benefits worth Rs 1,250, including e-gift cards and Cleartrip vouchers. A renewal fee reversal is available if annual spending reaches Rs 3.5 lakh. Cashback is auto-credited within two days of statement generation.

In addition, Flipkart and SBI Card have rolled out a limited-period promotional campaign, offering giveaways of Samsung Galaxy smartwatches and Ambrane wireless power banks to successful applicants.

Salila Pande, managing director and CEO of SBI Card, said the product was part of the company’s effort to design “best-in-class products that align with the evolving needs and aspirations of our customers.” 

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “Over the years, we have introduced several innovative financial offerings. This co-branded credit card, in partnership with SBI Card, is another important step in that journey. It reflects our commitment to democratising and expanding access to formal credit in India.”