SBI Card and Flipkart have introduced a co-branded credit card designed for India's growing pool of online shoppers. The card launches with a tiered cashback structure: 7.5% on Myntra (capped at ₹4,000 per quarter), 5% on Flipkart, Shopsy, and Cleartrip, and 4% on partner merchants including Zomato, Uber, Netmeds, and PVR. Cardholders earn 1% unlimited cashback on all other eligible spends.
New cardholders receive a ₹250 Flipkart e-gift card as joining bonus, with additional festive-season contests tied to the Big Billion Days and Diwali shopping cycles. The card carries a ₹500 annual fee, but this is waived if annual spends exceed ₹3.5 lakh—a threshold designed to appeal to frequent online shoppers.
Beyond cashback, the card bundles lifestyle features: fuel surcharge waiver, contactless payment, global ATM access, and Flexipay EMI options. These additions position the card as a comprehensive payment tool rather than a rewards-only product, addressing the diverse financial needs of digital-first consumers.
The card's design reflects a clear trend: co-branded partnerships between fintech-enabled banks and e-commerce platforms are deepening customer engagement ahead of peak shopping seasons. For SBI Card, the partnership taps into Flipkart's user base of value-conscious, digitally native shoppers. For Flipkart, it locks in payment rails and increases wallet share.
