SBI Cards launches co-branded credit card with Flipkart; Check joining fee, benefits, and more

SBI Cards and Payment Services Ltd launched the Flipkart SBI co-branded credit card with the e-commerce company Flipkart on Tuesday, August 26.

The contactless card, with a joining and annual renewal fee of ₹500 plus taxes, will be available on Mastercard, Visa paying platforms, and digitally through the Flipkart App, SBI Card SPRINT, and on the SBI Card website.

The card offers a 7.5% cashback benefit on spend on Myntra, and 5% cash back on spends made on Flipkart, Shospy, and Cleartrip, with a ₹4,000 limit during a calendar quarter, SBI Card said in a regulatory filing.

Furthermore, it offers a 1% unlimited cash back on all other eligible spends, with a refund of the ₹500 annual fee to the cardholder if they reach ₹3.5 lakh in annual spending, it added.

Cardholders will receive a 1% fuel surcharge waiver, with a waiver cap of ₹4,000 in a statement cycle. They will also get a 3.5% forex markup on all foreign currency spending.

The Flipkart SBI Card will also have an auto-credit of cash back facility, which will allow automatic credit of entitled cashback to the SBI Card account within two days of statement generation, the statement said.

The card will also provide a limited-period launch opportunity to win Samsung Galaxy smartwatches and Ambrane wireless power banks upon completion of the card application process, according to the regulatory filing.

Commenting on the launch, Salila Pande, Managing Director and Chief Executive Officer at SBI Card, said: "With the rapid growth of e-commerce in India, customers are increasingly seeking seamless and rewarding experiences in every purchase. Flipkart SBI Card has been thoughtfully designed to provide a rewarding and seamless payment experience."

The card was launched under the “rewards” category.

“It reflects our commitment to democratizing and expanding access to formal credit in India. With solutions designed to deliver maximum value, we aim to empower millions of households across Bharat to fulfil their aspirations with confidence," said Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group.

Shares of SBI Cards and Payment Services closed 0.86% lower at ₹815 apiece on the National Stock Exchange (NSE) on Tuesday. However, the announcement was made after the market closed.

The NBFC has a total market capitalisation of ₹77,549.51 crore, as of August 26, 2025, according to data on the NSE.