SBI Card Announces New Reward Points Redemption Rules From April 1

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SBI Card Revamps Reward Points: New Redemption Caps & Rules from April 1

SBI Cards and Payment Services has also been downgraded to 'Underperform' from 'Neutral'. The brokerage has lowered the price target to ₹750, which implies a downside of 13%.

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CNBC TV18•27-02-2026, 15:58

SBI Card Revamps Reward Points: New Redemption Caps & Rules from April 1

•SBI Card announces significant revisions to its reward points framework, effective April 1, 2026.
•A new monthly redemption cap of 60,000 reward points for statement credit will be implemented.
•Redemption for statement credit will now only be possible in multiples of 4,000 points.
•Specific cards like Air India SBI Signature Card and PhonePe SBI Cards are exempt from these new conditions.
•Earlier 2026 updates include forfeiture timelines for promotional reward points: 90 days for cashback and 120 days for instant discount offers.

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