State Bank of India to revise its reward points rule from January

Mumbai: The largest public sector lender in the country, State Bank of India (SBI)  will revise its reward points rules. The new rules will come into effect from January 1, 2023.

The lender has reduced accrual reward points on online spends at Amazon. Also,  Cleartrip vouchers to be redeemed in a single transaction and cannot be clubbed with any other offer or voucher with effect from January 6, 2023.

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‘With effect from January 6, 2023, the Cleartrip voucher issued to SimplyCLICK Cardholders on reaching online spend milestone should be redeemed in a single transaction only and cannot be clubbed with any other offer/ voucher. Acrual of 10X Reward Points on online spends at Amazon.in with SimplyCLICK/SimplyCLICK Advantage SBI Card will be revised to 5X Reward Points with effect from 01 Jan’23,’ the SBI Card said in a notice on its website.

The SBI Card customers however will continue to accrue 10X Reward Points on online spends at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart & Netmeds.

Last month, the SBI Card raised its processing fee on all merchant EMI transactions to Rs 199 along with applicable taxes from earlier Rs 99. The processing fee of Rs 99 is now being levied on all Rent Payment transactions.