Paytm SBI Card
The Paytm SBI Card is a ₹499 entry co-brand built around the Paytm App, paying 3% value back on Paytm Mall, Movies and Travel, 2% on other Paytm App spends and 1% on everything else including UPI — credited as Reward Points worth ₹1 each since 1 July 2024, and only on transactions of ₹100 or more. It includes a complimentary Super Saver Membership (formerly Paytm First), ₹1,00,000 cyber-fraud cover and a 1% fuel surcharge waiver, and spending ₹1 lakh a year earns the membership again on renewal. Wallet loads, fuel and — since 9 March 2026 — school and education spends earn nothing. There is no lounge access and no spend-based fee waiver — the ₹499 renewal simply applies from year two — and the 3.5% forex markup makes it a poor choice abroad.
Key features
What this card is built to do — the highlights that actually matter.
3% on Travel
3% value back (as Reward Points, 1 RP = Re.1) on Paytm Mall, Movies and Travel booked on the Paytm App
3% on Online Shopping
3% value back on Paytm Mall and Movies purchases on the Paytm App; other Paytm App spends earn 2%. Credited as Reward Points at 1 RP = Re.1
Milestone Bonus
Complimentary Super Saver Membership (formerly Paytm First) on card activation, granted again on renewal if your annual retail spend reaches Rs. 1 lakh
️ Insurance Cover
Complimentary cyber fraud insurance cover of Rs. 1,00,000
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Travel | cashback | 3% | — |
| Online Shopping | cashback | 3% | — |
| Other | cashback | 1% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | ₹589 |
| Joining fee (incl. 18% GST) | ₹589 |
| Forex markup | 3.5% |
Perks & benefits
Estimated annual value beyond rewards — ~₹900/yr in total.
milestone bonus
Complimentary Super Saver Membership (formerly Paytm First) on card activation, granted again on renewal if your annual retail spend reaches Rs. 1 lakh
️ insurance
Complimentary cyber fraud insurance cover of Rs. 1,00,000
fuel waiver ~ ₹900 /yr
1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000; maximum Rs. 100 per statement cycle
Spend milestone
· ₹1,00,000 a year value not published
Should you get it?
Best for: First-time cardholders inside the Paytm ecosystem, Regular Paytm App users wanting a low-fee card, Buyers of Paytm Movies and Paytm Travel
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Travel ( 3% back).
✓ Pros
- Low Rs. 499 fee for an entry card with a full Paytm ecosystem tie-in
- 3% on Paytm Mall / Movies / Travel and 2% on other Paytm App spends
- Complimentary Super Saver Membership (formerly Paytm First)
- 1% fuel surcharge waiver and cyber fraud insurance cover
✕ Cons
- No annual-fee waiver, unlike the SELECT variant
- Value is thin unless most of your spending runs through the Paytm App
- No lounge access
- Fuel, wallet loads and (from 9 March 2026) school and education spends earn nothing
- Nothing under Rs. 100 earns at all — a real limit on a recharge-and-bills card
- Cashback is now paid as Reward Points (since 1 July 2024)
Eligibility & documents
Min. income
₹20,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / address proof
- Income proof (salary slips or ITR)
- Recent passport-size photograph
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Reward Points redeem at 1 RP = Re. 1 against vouchers and the SBI Card catalogue
🎁 Value back is credited automatically as Reward Points
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern There is no annual-fee waiver unlike the SELECT variant, and value is thin unless most of your spending runs through the Paytm App.
The bottom line
Serving as an uncomplicated entry-level option, the Paytm SBI Card combines an affordable fee with straightforward savings across Paytm services. While well-suited as a starter card for regular users of the Paytm platform, the absence of an annual fee waiver and the modest 1% earn rate on external retail purchases limit its overall versatility.
Sources & verification
Fees, reward rates, and benefits for the Paytm SBI Card are taken from SBI Card 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 5 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for SBI Card . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2020 · 4 changes · last change Mar 2026
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2026 1 change — 1 cut
▼ Reward Effective 9 Mar 2026
School and education spends stop earning
Reward Points earned → No Reward Points on MCC 5111, 5192, 5942, 5943, 5947, 8211, 8220, 8241, 8244, 8299, 8351
From 9 March 2026 the card stopped accruing Reward Points on School and Education spends, named as a numbered clause in the card's own T&C booklet. This one had gone unrecorded on both Paytm cards until the 2026-08-06 SBI audit; it now binds in card-data via an EDUCATION exclusion.
Verification: SBI Card ↗ · Confidence: High
2024 2 changes — 2 cuts
▼ Reward Observed 1 Mar 2024 · Effective 15 Jul 2024
Government transactions stop earning
Reward Points earned → No Reward Points on MCC 9311/9399 etc.
From 15 July 2024 the Paytm SBI Card, as a co-branded card, stopped accruing Reward Points on government-related transactions - tax payments, fines and government services under MCCs such as 9311 and 9399 - part of an SBI-wide reward-exclusion rollout (notice dated 1 March 2024) that reached the core SBI cards on 1 June 2024. Caveat recorded 2026-08-06: neither Paytm T&C booklet lists government or rent in its own exclusion clause, and SBI scopes the portfolio rollout to "certain cards" behind per-card PDFs we could not enumerate. We therefore keep the event but do NOT bind GOVERNMENT or RENT in card-data for the Paytm pair.
Verification: CardAdvisor Research · Confidence: High
▼ Redemption Effective 1 Jul 2024
Cashback replaced by Reward Points
Direct cashback, auto-credited → Reward Points (1 RP = Re 1), redeemed manually
From 1 July 2024 the card stopped paying instant cashback: the same 3%/2%/1% value is now credited as SBI Reward Points at 1 RP = Re 1, which the cardholder must redeem against vouchers or the SBI Card catalogue instead of receiving an automatic cashback credit. The nominal value is unchanged but liquidity and simplicity are reduced.
Verification: CardAdvisor Research · Confidence: High
2020 1 change — 1 neutral
◆ Launch Observed Oct 2019 · Effective 5 Nov 2020
Paytm SBI Card launched
SBI Card and Paytm launched their Visa co-brand (waitlist from 1 November 2020; the partnership was first announced in October 2019): 3% back on Paytm Mall, movies and travel booked on the Paytm app, 2% on other Paytm app spends and 1% on all other online and offline spends, paid as direct cashback. Joining/annual fee Rs.499 plus a complimentary Paytm First membership. Sources disagree on the exact launch date, so it is marked reconstructed.
Verification: CardAdvisor Research · Confidence: Reconstructed
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: Paytm SBI Card value timeline — CardAdvisor
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Source: Paytm SBI Card value timeline , CardAdvisor (CC BY 4.0).
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Quick summary
Type Entry credit card
Reward rate 1%–3%
Best for First-time cardholders inside the Paytm ecosystem
Joining fee ₹499
Annual fee ₹499
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 5 Aug 2026
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280 cards analysed — August 2026
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