Do you use any SBI credit card or SBI debit card for everyday expenses? Then you will find this article useful. Here I am going to share how you can enjoy various SBI reward points on your everyday shopping using SBI credit/debit card and then redeem them. Follow this step by step SBI credit card reward points encashment tutorial.
If you don’t have any SBI credit card, then let me tell you that SBI has a couple of good credit cards with premium features. In fact, I have listed few of them in my best credit cards in India post already.
SBI has launched a different program for Debit card users to earn more reward points. It is called State Bank Rewardz, India’s Most Rewarding Loyalty Program for SBI debit card customers.
You can redeem SBI reward points online using their portal in various ways like convert to cash, shopping voucher of Amazon, buy gifts visiting SBI rewardz website etc.
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How To Earn Reward Points Using Your SBI Credit Card
I use my SBI credit card for various type of transactions like paying a post-paid mobile bill, paying society maintenance charges, while buying groceries online from Bigbasket, shopping online from Amazon or Flipkart, purchasing fuel, recharging my DTH (Tata Sky) connection, booking movie tickets from BookMyShow.com etc.
With every transaction, I am earning State Bank Rewards Points. Which I can redeem later in various ways.
If you ask me what is the SBI reward points value in Rupees? or 1 reward point is equal to how many rupees? Then let me tell you that, it is not exactly 1 reward point = 1 Rupee. E.g. If you are using SBI SimplySAVE Advantage Credit Card, then you can enjoy a conversion rate of 4 Reward Points = Rs. 1.
Steps To Redeem SBI Credit Card Reward Points Online
This process is very simple indeed. SBI credit card has a dedicated website to handle this redeem request online.
- First of all log into www.sbicard.com. If you have not registered your credit card yet, then register with SBI Credit Card first and create username & password. You can also Download the SBI Card Mobile App and access your account now.
- Click on “Rewards” and then click on “Redeem Rewards”.
- Browse through the Rewards Catalogue and choose the item of your choice
- Click on “Redeem now” and confirm. You can also visit this link and start exploring various products available to redeem. I prefer to use SBI reward points in Amazon/Flipkart e-vouchers.
In case of any issues or if you want to convert SBI credit card reward points to cash, then contact SBI credit card team @ sbicard.com/email or by calling SBI credit card helpline number (Dial 1860 180 1290, 39 02 02 02 (Prefix local the STD code) or 1800 180 1290 (toll free).
How do I earn Reward Points Under SBI Rewardz Program (Using SBI Debit Card)?
This is a special reward program from SBI and you can earn points while transacting through various channels of SBI, except SBI credit cards.
- Debit Card
- Internet Banking
- Mobile Banking
- Personal Banking
- Rural Banking
- SME Accounts
You can also earn EXTRA Reward Points by using your SBI Debit Card at Max Get More partners. To know more, visit www.maxgetmore.com.
How do I become a member of SBI Rewardz & Redeem Reward Points?
To redeem your SBI Rewardz points, first of all of you have to become a member of SBI Rewardz. Whatever way you use your SBI account (except credit card) you will earn reward points and they will accumulate in your SBI Rewardz account. This will be linked with your SBI net banking customer ID.
The registration process is very simple.
- Click on “Register” on www.StateBankRewardz.com or click on “Sign up” on the SBI Rewardz Mobile App (Click Here to Download SBI Rewardz App on Android and iOS). Sign in now and get 100 bonus reward points.
- I am considering that you have registered for your SBI net banking account. If not, then activate SBI net banking online first. Next, Enter your SBI Customer ID or SBI Debit Card number
- Enter the last 5 digits of your SBI account number
- Key in the OTP triggered to your registered mobile number and e-mail address. If you have changed your mobile number recently, then update your SBI net banking mobile number first before registering with SBI Rewardz.
- Enter the OTP and the verify your personal details
- Select a username and password of your choice. Make sure you are choosing a different user & password, not similar to SBI net banking username.
Your registration process is complete and you can easily find the accumulated reward points and redeem them.
What is the value of 1 Reward Point?
1 Reward Point is equivalent to INR 25 Paise. Thus, 1000 Reward Points get you free shopping worth Rs. 250. You have to redeem then within 36 months from the month of the transaction, otherwise, you will lose those points.
Where can I use my SBI Reward Points?
To redeem your SBI freedom reward points, you have to visit the website www.StateBankRewardz.com or log in to the SBI Rewardz Mobile App. Then start exploring various links mentioned below and start redeeming your points.
- Mobile and DTH Recharge
- Movie tickets
- SBI Gift Cards
- Airline tickets
- Bus tickets
- Music download
You can also redeem your Reward Points at Max Get More partners. To know more, visit www.maxgetmore.com.
Steps To View Your SBI Rewards Loyalty Points Online Through Net Banking
As I mentioned, your SBI customer id is linked with your SBI net banking as well as SBI Rewardz account. So you can view your SBI Rewardz points through SBI net banking login also.
Step #1: First of all you have to logon to www.onlinesbi.com with your userid and password. If you don’t have SBI net banking account then apply for your SBI net banking account ID & Password first.
Step #2: Select ‘Freedom Rewardz‘ under the ‘My Accounts’ tab. Two tabs are displayed ‘Loyalty Points’ and ‘Statement’. By default the tab will display the accumulated Loyalty Points.
Step #3: Details of your accounts are displayed in a tabular format under the heading – SB/CA/OD Account Number, Point Balance, Transactions.
Step #4: You can find your detailed transactions and also how much reward point you have earned from them each easily there. Just click on the links and check account summary. On clicking this link, the account summary for the last ten transactions is displayed containing details of the transaction like Date, Description, Earned Points and Redeemed Points.
Step #5: On clicking the ‘Statement’ tab, the details of your accounts in a tabular format under the heading – Account No / Nick Name, Account Type, Branch, is displayed. When the radio button related to the corresponding account number is selected, the customer will be required to choose the date range of the statement required, and the appropriate options to download it from ‘View’, ‘Download in Excel Format’, ‘Download in PDF format’.
For any queries related to this, you can dial 1800-209-8500 (Toll Free number from BSNL & MTNL networks only) & 6000-8500 (Local call charges apply from Mobile or Landline, anywhere in India). Don’t forget to read the terms & conditions if any.
So, how do you prefer to redeem SBI reward points online? Are your using both SBI debit card & SBI credit card to enjoy the huge benefits of SBI Reward loyalty program? Write a comment below and share your doubts or experiences if any.