SBI (or their reward partner) has finally updated reward FAQs:
I am sharing only points that matters. All SBI Debit Cards are eligible to earn 1RP per 100 with min. of Rs.200 for 2 RP and its multiples with no exclusions as Govt txns will also earn RPs except IOCL Debit card which has more RPs on IOCL branded fuel stations but still eligible for these rewards as normal.
Virtual DC also eligible for same structure.
Till now I haven't seen any txn which hasn't provied RPs. But reward rate is 0.25% only and as a bonus for birthday month (Month in DOB registered for Primary account holder) is 2X RPs i.e double reward points or 0.50% for whole birthday month txns.
Source: https://rewardz.sbi/content/faq
24x7 Customer Care: 1800-209-8500
How do I earn SBI Points?
You earn SBI Rewardz Points on paying with your State Bank of India Debit Card at Point of Sale (offline store) and on e-commerce portals.
Where can I earn SBI Points?
You can earn SBI Points anywhere in India by making payments using your State Bank of India Debit Card.
What is the validity period of SBI Points?
All the points earned post 1st June'24 will be valid for 24 months or 2 years from the accrual date. However, the points earned prior to 1st June'24 will continue to have a validity of 36 months or 3 years from the accrual date. Additional points earned at Partner Stores are valid for 12 months or 1 year from the accrual date
What is the value of 1 SBI Point?
Value of 1 SBI Point = Rs. 0.25
When do Bank points get posted ?
Bank points will be posted within 7 days (can take 15 days in some cases) from the date of transaction.
When do Partner points or bonus points get posted ?
Partner or bonus points will be posted within 120 days from the date of transaction.
Redemption:
How do I redeem my SBI Points?
You can redeem your SBI Points for a wide range of products across categories such as apparel, electronics, jewellery, home décor, kitchen appliances and for services such as movie tickets, air tickets, mobile/DTH recharge & more.To redeem log on to https://www.rewardz.sbi/ or call SBI Rewardz Customer Care at 1800-209-8500 (Operational - 24 hours a day, 7 days a week).
Can I combine SBI Points and cash for redemption?
Yes, you can combine SBI Points and cash for redemption.
Do I need to log into my account to redeem my SBI Points?
To redeem your SBI Points on https://www.rewardz.sbi/, you need to register yourself on the portal and log in. You can also redeem your points at Max Get More Merchant stores. Please click here to get a complete list of such stores.
Is there any limit on number of redemption transactions that can be done in a day?
Yes, there is a limit of 9 redemption transactions not exceeding cumulative Rs.3,00,000 per 24 hours.
More Info:
This construct is applicable from 1’st May 2024. Capping of 1000 reward points per transaction applicable, subject to overall capping of 10000 reward points per calendar month per Customer ID including Birthday bonus.
Activation & Birthday bonus will be applicable from July 2019 onwards.
Please note: From 1’st May 2024, all exclusions on PoS and E-commerce transactions using SBI Debit Cards have been removed, except Fund Transfer transactions from Account to Wallet or Account to Account.
Max RPs per Txn per Day: 1000 (Rs.250) ,So don't go above 1L per txn in a day.
Max RPs Per Month: 10000 (Rs.2500).
In birthday month you will get normal reward points within 7 days and rest of points will be credited in next 120 days.
Ex: Your SBI account has birth date as 01-09-2000. So in month of Sept, all txns will be eligible for 2X RPs but max. limit will be followed which is given above so do txns according to the maxinmum structure only for day/month i.e birthday month don't cross Rs.50000/day or Rs.5 Lakh in whole birthday month as you won't get RPs more than per day / per month limits.
Also, In a financial year i.e between April 1 to March 31, if total txns are worth Rs.1 Lakh, you will get 1000 bonus points per Lakh but will be credited in next 120 days i.e by 31st, July every year. If you did 3L txns in a FY you are eligible for 3000 bonus RPs.
I am sharing only points that matters. All SBI Debit Cards are eligible to earn 1RP per 100 with min. of Rs.200 for 2 RP and its multiples with no exclusions as Govt txns will also earn RPs except IOCL Debit card which has more RPs on IOCL branded fuel stations but still eligible for these rewards as normal.
Virtual DC also eligible for same structure.
Till now I haven't seen any txn which hasn't provied RPs. But reward rate is 0.25% only and as a bonus for birthday month (Month in DOB registered for Primary account holder) is 2X RPs i.e double reward points or 0.50% for whole birthday month txns.
Source: https://rewardz.sbi/content/faq
24x7 Customer Care: 1800-209-8500
How do I earn SBI Points?
You earn SBI Rewardz Points on paying with your State Bank of India Debit Card at Point of Sale (offline store) and on e-commerce portals.
Where can I earn SBI Points?
You can earn SBI Points anywhere in India by making payments using your State Bank of India Debit Card.
What is the validity period of SBI Points?
All the points earned post 1st June'24 will be valid for 24 months or 2 years from the accrual date. However, the points earned prior to 1st June'24 will continue to have a validity of 36 months or 3 years from the accrual date. Additional points earned at Partner Stores are valid for 12 months or 1 year from the accrual date
What is the value of 1 SBI Point?
Value of 1 SBI Point = Rs. 0.25
When do Bank points get posted ?
Bank points will be posted within 7 days (can take 15 days in some cases) from the date of transaction.
When do Partner points or bonus points get posted ?
Partner or bonus points will be posted within 120 days from the date of transaction.
Redemption:
How do I redeem my SBI Points?
You can redeem your SBI Points for a wide range of products across categories such as apparel, electronics, jewellery, home décor, kitchen appliances and for services such as movie tickets, air tickets, mobile/DTH recharge & more.To redeem log on to https://www.rewardz.sbi/ or call SBI Rewardz Customer Care at 1800-209-8500 (Operational - 24 hours a day, 7 days a week).
Can I combine SBI Points and cash for redemption?
Yes, you can combine SBI Points and cash for redemption.
Do I need to log into my account to redeem my SBI Points?
To redeem your SBI Points on https://www.rewardz.sbi/, you need to register yourself on the portal and log in. You can also redeem your points at Max Get More Merchant stores. Please click here to get a complete list of such stores.
Is there any limit on number of redemption transactions that can be done in a day?
Yes, there is a limit of 9 redemption transactions not exceeding cumulative Rs.3,00,000 per 24 hours.
More Info:
This construct is applicable from 1’st May 2024. Capping of 1000 reward points per transaction applicable, subject to overall capping of 10000 reward points per calendar month per Customer ID including Birthday bonus.
Activation & Birthday bonus will be applicable from July 2019 onwards.
Please note: From 1’st May 2024, all exclusions on PoS and E-commerce transactions using SBI Debit Cards have been removed, except Fund Transfer transactions from Account to Wallet or Account to Account.
Max RPs per Txn per Day: 1000 (Rs.250) ,So don't go above 1L per txn in a day.
Max RPs Per Month: 10000 (Rs.2500).
In birthday month you will get normal reward points within 7 days and rest of points will be credited in next 120 days.
Ex: Your SBI account has birth date as 01-09-2000. So in month of Sept, all txns will be eligible for 2X RPs but max. limit will be followed which is given above so do txns according to the maxinmum structure only for day/month i.e birthday month don't cross Rs.50000/day or Rs.5 Lakh in whole birthday month as you won't get RPs more than per day / per month limits.
Also, In a financial year i.e between April 1 to March 31, if total txns are worth Rs.1 Lakh, you will get 1000 bonus points per Lakh but will be credited in next 120 days i.e by 31st, July every year. If you did 3L txns in a FY you are eligible for 3000 bonus RPs.
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