Terms & Conditions
a). SBICPSL will, offer Cashback on the “SBI Gold & More and SBI Silver & More” Credit Card where the Card Account is without any overdues.
b). "Cashback "means a credit entry, subject to certain limits mentioned below, executed by SBICPSL on the Card Account based on Eligible Transactions.
c). "Cashback Percentage" means the percentage of the eligible transaction amount that would be given as "Cashback" and is subject to change as per the discretion of SBICPSL. However any such change would be informed to the CardHolder through communication of the same in the monthly Card billing statement atleast 30 days before any such change.
d). "Eligible Transaction" means a transaction (not being cash withdrawal, cash advance, loan or any other category of transactions as may be decided from time to time by SBICPSL at its sole discretion) belonging to “Promoted Category” successfully entered into using the Card and not charged back.
e). "Promoted Category" means a category of transactions promoted from time to time by and/ or subject to sole discretion of SBICPSL.
f). The promoted categories and the respective Cashback percentages for the “SBI Gold & More and SBI Silver & More” card unless otherwise intimated are: Departmental Stores– 2% Cashback, Groceries – 2% Cashback, Restaurants – 2% Cash back and Utility Bill Payment through Easy Bill Pay – 2% Cash back. Spends made on any other category (as defined by Merchant Category Code MCC) using SBI Gold & More and SBI Silver & More Card would not be entitled for any cash back.
g). The promoted categories defined from time to time shall have the same meaning as ascribed to the categories by Visa & Master Card under their respective Merchant Category Codes. (ie) The franchisees have listed qualifying criteria for merchant establishments in order to qualify to be listed under a specified category. (like departmental stores, groceries, restaurants etc) The merchant establishment needs to have accordingly qualified and hence listed in the “Promoted Category”, in order for the transaction to be eligible for the Cashback.
h). The sub categories and their respective MCCs under each of “Promoted” categories include the following:
a. Departmental Stores & Groceries –
i. Duty Free Stores – 5309
ii. Discount Stores – 5310
iii. Department Stores – 5311
iv. Grocery Stores & Supermarkets – 5411
v. Freezer, Locker, Meat Provisioners – 5422
vi. Dairy Product Stores – 5451
vii. Wholesale Clubs – 5300
viii. Candy Nut & Confectionary Stores – 5441
b. Restaurants –
i. Caterers – 5811
ii. Eating Places & Restaurants – 5812
iii. Bars Drinking Places – 5813
iv. Fast Food Restaurants – 581
v. Package Stores, Beer, Wine & Liquor – 5921
vi. Convenience Food Stores - 5499
i). The category of purchase will be decided on the basis of the Merchant Category Code (MCC) for the merchant establishment where the purchase is made. SBICPSL reserves the sole right to decide on whether a purchase meets the eligibility criteria as listed above.
j). The category of purchase (as listed in card guide) have been mapped to Merchant category Code (MCC) based on VISA / MasterCard standards. SBICPSL is NOT liable for any disputes that arise due to differences in merchant category code mapping maintained by acquiring banks.
k). Cardholder is requested to validate Merchant Category Code (MCC) from the merchant before making swipe on his card. Only the above listed MCCs shall entitle the cardholder for cash back on his card.
l). Cashback will be subject to a maximum of Rs. 500 per Calendar month i.e Rs 6000 p.a. - the cardholder will not earn any cash back for subsequent spends. After completion of 12 months, the cardholder can again start earning cash back.
m). SBICPSL will inform the Card Member / Account Holder about the Promoted Categories from time to time by indicating the same on the statement of the Card Account
n). Returned purchases, disputed or unauthorized/fraudulent transactions, finance charges, card account fees and Charged back transactions would not be given a Cashback under this program.
o). CardHolders to note SBI Gold & More and SBI Silver & More Credit Card does not carry any Reward Points Program. Hence CardHolders would not be receiving any Reward Points under this program.
p). The CardHolders and the Add on card Holder, by signing on the application form for the "SBI Gold & More and SBI Silver & More" Card expressly agree that SBICPSL’s decision on eligibility and correctness of the Cashback given to be final and binding
q). SBI Card’s computation of cash back shall be final, conclusive and binding on cardholders and will not be liable to be disputed or questioned.
r). Spend Category Specific:
a. Departmental Stores & Groceries: The cardholder will get cash back in all standalone departmental stores and grocery outlets and these do not include grocery or departmental stores operating within large format stores or shopping malls.
b. Restaurants: Cash back will not accrue on spends incurred at restaurants located within the premises of hotels and resorts.
c. Utilities Bill Payment: Cash back will accrue only for bill payments done through Easy Bill Pay (i.e. Bill Payment product offered by SBICPSL).
s). SBICPSL has the right to include more “Promoted Category” / Merchant Category Code or exclude certain existing categories / Merchant Category Codes from the product proposition.
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