Paytm SBI Card - Eligibility, Features, Annual Fees, Benefits, and How to Apply?

Sameer Content Writer

Paytm has come up with two new credit cards in partenership with SBI. The payments company has launched Paytm SBI Card and Paytm SBI card Select on the Visa Platform. Both the cards come with some smart features. This is the second credit card from Paytm; earlier the company launched one in partnership with Citibank.

Here are all the details on Paytm SBI Card eligibility, offers, joining fee, features and how to apply. For Paytm First Card click here

 

paytm sbi credit card

 

Paytm SBI Card Launch

It was earlier reported that Paytm is working on new credit cards for students and young professionals. Now, the company has two new credit cards. The company has made available Paytm SBI Card and SBI Card Select for users. 

The launch of new credit cards from Paytm encourages digital payments. The credit cards can also be used on third party platforms and offline retail stores. Paytm has enabled digital process for credit card application and management. The credit cards are also equipped with Tap to Pay payment feature.

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Paytm SBI Card Eligibility

The credit card is available for specific users at the time. If you are eligible for the card you will see the option to apply for the credit card on the Paytm App. If you are not eligible then the apply button will not be visible. Even with the paytm First Card was made available for limited users at the time of launch. The credit card will be made available to more users later. 

Also, if you are Paytm Payments Bank user then you would be given preference. So if you want Paytm SBI card then you can also trying opening Paytm Payments Bank savings account. The minimum age to apply for Paytm SBI Credit Card is 21 years. Both salaried & self-employed persons are eligible for this credit card.  

paytm sbi credit cards

 

How to Apply For Paytm SBI Card Online?

  • Open the Paytm App

  • Click on See All services

  • Select Loans & Credit Card

  • Click on Paytm Credit Card

  • Fill in the required details

  • Choose an address for credit card delivery

  • Done! you have applied for Paytm SBI card

 

Paytm SBI Card Review

If you use Paytm for movie tickets, utility bills, travel booking, and shopping on Paytm Mall, then Paytm SBI Card is worth considering. You get up to 5 percent cash back for transactions on the Paytm app. 
However, the credit card does not offer major benefits for transacting outside of the Paytm App. The cashback is similar to co-branded cards of Flipkart and Amazon. But the annual fee is on the higher side.
For Paytm SBI Card Select, the annual fee is waived on a minimum spend of Rs. 2 Lakh a year. There is no annual fee waiver for Paytm SBI Card. 
These cards make sense only if you are using the Paytm app for regular transactions. 

Paytm SBI Card Benefits

  • Welcome Benefit - Complimentary Paytm First Membership worth Rs. 750 on the first settled transaction

  • 3% Cashback on all Travel, Movies, and Mall purchases via the Paytm app

  • 2% Cashback on all other purchases via the Paytm app

  • 1% Cashback everywhere else

  • 1% Fuel Surcharge waiver

  • Complimentary Cyber Fraud Insurance cover of Rs. 1,00,000

  • Complimentary Paytm First Membership E-Voucher on achieving Annual Retail spend of Rs. 1,00,000

Paytm SBI Card Select Benefits

  • Welcome Benefits Complimentary Paytm First Membership worth Rs. 750 & Rs. 750 Cashback

  • Annual Fee reversal on Rs. 200,000 Annual Retail spend

  • 5% Cashback on all Travel, Movies, and Mall purchases via Paytm App

  • 2% Cashback on all other purchases via Paytm App

  • 1% Cashback everywhere else

  • 1% Fuel Surcharge Waiver

  • Complimentary Cyber Fraud Insurance cover of Rs. 200,000

  • Complimentary Priority Pass worth US $99 for first two years of cardholder membership

  • Complimentary 4 Domestic Lounge visits (Restricted to 1 per quarter)

  • Rs. 2,000 gift voucher on achieving Annual Retail spend of Rs. 4 Lakh

  • Rs. 4,000 gift voucher on achieving Annual Retail spend of Rs. 6 Lakhs

 

Paytm SBI Card Annual Fee

For Paytm SBI Card Select you have to pay annual fees of Rs. 1,499. While for Paytm SBI card the annual fee is Rs. 499. Paytm SBI Card select is more premium. You also get an annual fee waiver on an annual spend of Rs. 2,00,000. There is no free reversal for Paytm SBI card users. 

  • Annual Fees of Paytm SBI Card SELECT is Rs. 1,499

  • Annual Fees Paytm SBI Card is Rs. 499

 

Documents required to apply for a Paytm SBI Credit Card

Users can apply and book an appointment for KYC on the Paytm App. Following documents are required for KYC verification of Paytm SBI Credit Card. You need a copy of :

1. Photo ID proof 

2. Address proof (Either current address or permanent address)

3. Passport size photograph

 

Note: In case of any discrepancy, additional documents might be required.

 

Paytm SBI Credit Card Features

The points you earn are automatically added to your Paytm Gift voucher balance. You can redeem this cashback on Paytm as well as other online and offline transactions. Also, the cashback has no expiry date. Paytm SBI Credit card comes with intelligent features, you can apply and manage the card using the Paytm app. It comes with useful features such as a spend analyzer and one tap lock/unlock. You can also control options such as contactless payments, ATM withdrawal, online and international transactions using the Paytm app. 

  • No cashback expiry program

  • Smart Spend analyser

  • One Tap lock/unlock

  • Convenient card reissue

Paytm SBI Credit card has been launched to ease digital payments and also provide users with unlimited rewards. You can apply for the credit card using the Paytm App. The card is for salaried & self-employed users. There is no minimum income requirement for this card. 

Paytm SBI Credit Card Bill Payment

There are various options to make bill payment of your Paytm SBI Credit Card. As you know that the payment via cheque or cash is chargeable.  So it better to use the online methods such as NEFT, SBI Online, Yono Cash, UPI payment, and bill desk. By paying your credit card bill online, you can also avail various offers.

Apps such as cred reward users for credit card bill payment as well. Recently, Amazon Also launched Credit Card bill payment service many exciting offers. Choose any mode of bill payment to get rewarded.

Paytm SBI Card vs Flipkart Axis Card vs Amazon Pay ICICI Card

Particular
Paytm SBI Card
Flipkart SBI Card
Amazon Pay ICICI Card

Annual Fee

Rs. 499

Rs. 500

0

Cashback

2-5% for spends on Paytm

5% for spends on Flipkart

5% for Prime Members on Amazon

Cashback on other sites

1%

1.50%

1%

Reward Provided as

Paytm Gift Voucher

Credit towards next month bill

Amazon Pay Balance

Once your KYC is done, you will receive the card within 5-7 working days. If you are using Paytm app for utility payments and shopping then this card is a must-have. Due to high traffic, the card has been restricted to a limited audience, but you can soon expect the Paytm SBI card to become available for all users. 

Frequently Asked Questions

What is the minimum income requirement for Paytm SBI card?

There is no minimum income requirement for Paytm SBI Credit Card. The credit is both for salaried & self-employed users. You can submit credit card application via the Paytm App.

How do I apply for Paytm SBI Card?

Apply for the credit card on the Paytm App. Search for the Paytm credit card on the search bar. Submit the application to schedule doorstep KYC. 

What is the annual fee of Paytm SBI Credit Cards?

The credit card comes in two variants. Paytm SBI Card and SBI Card Select have an annual fee of Rs. 499 and Rs. 1499 respectively.

What is the minimum age for Paytm SBI Card?

The minimum age to apply for the credit card is 21 years. 

About Author

Sameer

Content Writer

I’m an engineer that accidentally fell in love with words. I write about things that I like and things that I don’t, mainly in the online shopping sphere.

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