Cashback SBI Card cashback calculation logic

[souvikr]

I have noticed that in my cashback SBI card the cashback provided is exactly 1 rupee less than it should be. In first month I ignored it, but same thing happed this month as well.

For example, for a purchase of rs 541 they have provided rs 26 cashback, but it should be rs 27 .

Even if they round down the amount in the multiple of 100s, then it should be rs 25 for Rs 500.

Seems like SBI is using some weird logic. Can anyone explain the logic here?

 

[Pujaari]

They have some 1% + 4% way to calculate.(read somewhere in their tnc) so for eg for 541 they will round off 1%×541=5.41~5 + 4%×541=21.64~21
Equalling 26

 

[windows10]

I have attached an excel sheet containing tabular chart for easy calculation of sbi cashback credit card transactions. Just input the details, amount, & make the invalid percentile either 5% or 1%, zero manually. All the calculations would correct most probably.

 

[SiddharthR]

They have some 1% + 4% way to calculate.(read somewhere in their tnc) so for eg for 541 they will round off 1%×541=5.41~5 + 4%×541=21.64~21
Equalling 26

They have some 1% + 4% way to calculate.(read somewhere in their tnc) so for eg for 541 they will round off 1%×541=5.41~5 + 4%×541=21.64~22
Equalling 27

Isn't this right?

 

[zealot]

They have some 1% + 4% way to calculate.(read somewhere in their tnc) so for eg for 541 they will round off 1%×541=5.41~5 + 4%×541=21.64~22
Equalling 27

Isn't this right?

They have weird round off system. They round down for each transaction.

 

[venkateshr]

One query on this. If we see the website or the app, there is a cashback summary they give for the settled txns. I calculated for some txns that I have done and it is 1%. Does it mean that if for all the eligible txns for 5%, they will post the 4% cashback only while giving the final cashback near statement date. Any idea if the 5% eligible txns cashback also shows up before or only post the statement date?

 

[souvikr]

One query on this. If we see the website or the app, there is a cashback summary they give for the settled txns. I calculated for some txns that I have done and it is 1%. Does it mean that if for all the eligible txns for 5%, they will post the 4% cashback only while giving the final cashback near statement date. Any idea if the 5% eligible txns cashback also shows up before or only post the statement date?

Cashback for 5% eligible transactions show up within 2 days as soon as the transaction is settled. No need to wait till statement generation date.

 

[venkateshr]

Cashback for 5% eligible transactions show up within 2 days as soon as the transaction is settled. No need to wait till statement generation date.

Thank you. That means the few txns settled are in 1% category only - maybe categorized as utility spends and hence given 1%. Only one was a different society maintenance payment but that is still not settled even after 3 days - so don't know if it will be 5% or 1% whenever it does get posted.

 

[souvikr]

Thank you. That means the few txns settled are in 1% category only - maybe categorized as utility spends and hence given 1%. Only one was a different society maintenance payment but that is still not settled even after 3 days - so don't know if it will be 5% or 1% whenever it does get posted.

Yes sometimes it takes more time for transaction to get settled. If it was offline payment then it will be 1%.

 

[bugmenot]

Use this formula in excel to calculate cashback for each txn

for 5% --> =Floor(amount*4%,1) + Floor(amount*1%,1)
for 1% --> =Floor(amount*1%,1)

 

[Ubed Badi]

Sbi cashback card se utility payment ko general payment me kaise kare

 

[bugmenot]

Sbi cashback card se utility payment ko general payment me kaise kare

Amazon GV. Log bol bol ke thak gaye he 😆

 

[rameshk]

Calculation of Cashback for example Amount: 1160
5% cashback calculate:
1% Cashback: 1160*1%= 11(Round down of 11.60)
4% Cashback: 1160*4%= 46(Round down of 46.60)

Total cashback(5%) = 1% cashback+4% cashback=11+46=57

No Cashback below transaction:
Rent Payments,
Wallet Loads,
Merchant EMIs,
Cash Advances,
Balance Transfer,
Encash & Flexipay.

 

[panu24]

Calculation of Cashback for example Amount: 1160
5% cashback calculate:
1% Cashback: 1160*1%= 11(Round down of 11.60)
4% Cashback: 1160*4%= 46(Round down of 46.60)

Total cashback(5%) = 1% cashback+4% cashback=11+46=57

No Cashback below transaction:
Rent Payments,
Wallet Loads,
Merchant EMIs,
Cash Advances,
Balance Transfer,
Encash & Flexipay.

Which wallet load you tried that did not give cashback? Just want to know.

 

[bugmenot]

Which wallet load you tried that did not give cashback? Just want to know.

I tried with Paytm, Mobikwik and PhonePe, it gave no cashback. Ola wallet load gives 5%.

 

[Shekhar_kapoor]

I have attached an excel sheet containing tabular chart for easy calculation of sbi cashback credit card transactions. Just input the details, amount, & make the invalid percentile either 5% or 1%, zero manually. All the calculations would correct most probably.

Hi Brother
I hope this message finds you well. I just wanted to express my sincere gratitude for sharing the SBI cashback calculation excel file with the community. It has been extremely helpful for me and a little bit complicated while calculating of cashback amount as I have an SBI cashback card and I wanted to double-check the amount of cashback that has been posted by the SBI card

I have attached my statement for your reference. Could you kindly calculate and let me know if the cashback amount matches what has been posted by the SBI card? is right or wrong I would really appreciate it.

Thank you for your assistance and for being such a valuable member of the community.

Few transactions for your understanding purpose mentioned below
9.12.2022 Pay u payments pvt ltd (Shipway.com Logistic merchant) 2000.00 INR
24.12.2022 Pay u Payments Pvt ltd (Zepto grocery merchant) 388.00 INR
27.12.2022 Pay u Payments Pvt ltd (Zepto grocery merchant) 661.00 INR
13.12.2022 Bajaj Finance Pvt Ltd (Wallet loading) 20000.00 INR
10.12.2022 Bajaj Finserv Pune ( gas Cylinder Refiiling using bajaj utilites app) 501 INR
18.12.2022 Grofer India ( Blinkit grocery Merchant) 338.00 INR
18.12.2022 One Mobikwik system Pvt ltd( Recharge using sbi cashback card) 255.00 INR

 

[bugmenot]

Hi Brother
I hope this message finds you well. I just wanted to express my sincere gratitude for sharing the SBI cashback calculation excel file with the community. It has been extremely helpful for me and a little bit complicated while calculating of cashback amount as I have an SBI cashback card and I wanted to double-check the amount of cashback that has been posted by the SBI card

I have attached my statement for your reference. Could you kindly calculate and let me know if the cashback amount matches what has been posted by the SBI card? is right or wrong I would really appreciate it.

Thank you for your assistance and for being such a valuable member of the community.

Few transactions for your understanding purpose mentioned below
9.12.2022 Pay u payments pvt ltd (Shipway.com Logistic merchant) 2000.00 INR
24.12.2022 Pay u Payments Pvt ltd (Zepto grocery merchant) 388.00 INR
27.12.2022 Pay u Payments Pvt ltd (Zepto grocery merchant) 661.00 INR
13.12.2022 Bajaj Finance Pvt Ltd (Wallet loading) 20000.00 INR
10.12.2022 Bajaj Finserv Pune ( gas Cylinder Refiiling using bajaj utilites app) 501 INR
18.12.2022 Grofer India ( Blinkit grocery Merchant) 338.00 INR
18.12.2022 One Mobikwik system Pvt ltd( Recharge using sbi cashback card) 255.00 INR

what's the JetPrivilege ecomm transactions? You should check spend analyzer in sbi card app/website. It will show you categories. All utilities category txns will give you 1%. For wallet load no cashback unless the MCC used is utilities.

 

[bugmenot]

They have some 1% + 4% way to calculate.(read somewhere in their tnc) so for eg for 541 they will round off 1%×541=5.41~5 + 4%×541=21.64~21
Equalling 26

as per latest T&C, now it's direct 5%. No more 4% + 1%. Still it's rounding down.

 

[AlekhyaDas]

I have attached an excel sheet containing tabular chart for easy calculation of sbi cashback credit card transactions. Just input the details, amount, & make the invalid percentile either 5% or 1%, zero manually. All the calculations would correct most probably.

Does this still work?

 

[Harry1]

Does this still work?

Now it's straight 5% (not 1+4) or 0 for online.

1% is only for offline.