SBI launches cash back plus offer

Mumbai, Aug 1 (UNI) Public sector banking major State bank of India (SBI) today came up with a 'cash back plus offer' on its debit card in the country.

Customers using State Bank debit cards for making payments of Rs 501 and above will get cash back up to 5 per cent under the offer.

For purchases up to Rs 5,000, customers can avail 3 per cent cash back, from Rs 5,001 to Rs 10,000 at 4 per cent and for purchases above Rs 10,000 the customer will get 5 per cent cash back, SBI Chief General Manager Narayanan Raja told reporters today.

The offer amount will be crdited to the customer's account in 4-6 weeks after the period of offer.

Valid from today to October 31, the offer assures a maximum of Rs 1,000 per debit card. Customers can also avail a special provision of 20 per cent cash back if they shop 15 or more times and two highest spenders can get two Air Deccan return tickets per day.

''This (offer) has been launched to prompt more customers to use SBI debit cards in their purchases. SBI has 27 million credit cards and plans are afoot to venture into biometric ATM cards,'' said Mr Raja.

SBI had also signed a deal with both Central and Western railways last month for installing around 700 new ATM kiosks at main railway stations all over the country, of which 101 have already been installed in Maharashtra.

SBI is the largest credit card provider in the country, with over 260 lakh cards being issued to customers who can access over 15,100 ATMs, he added.

UNI