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▾Paytm SBI Select Credit Card Review
Best for: Heavy Paytm users (mobile recharges, bills, merchant UPI) wanting card-linked acceleration plus general lounge access.
- 5% on Paytm transactions (recharge, bills, offline UPI)
- 2% on other online retail
- 4 domestic lounges
- Welcome Paytm voucher ₹1,500
- Y1 fee waiver easy
- Paytm 5% capped monthly
- Forex 3.5%
- General retail 0.5%
- Redemption as Paytm First points
Fees & charges
| Item | Charge |
|---|---|
| Joining fee | ₹1,499 + GST (Y1 free) |
| Renewal fee | ₹1,499 + GST |
| Finance charge | 3.6% p.m. |
| Cash advance fee | 2.5% (min ₹500) |
| Forex markup | 3.5% |
| Late payment fee | Up to ₹1,300 |
Rewards structure
5% on Paytm spends (capped ₹500/month). 2% on other online retail. 0.5% offline. Cashback auto-credits to Paytm Wallet or statement based on preference.
Key benefits
- 5% Paytm cashback (cap ₹500/month)
- 2% general online cashback
- 4 domestic lounges/year
- Welcome Paytm voucher ₹1,500
- Y1 waiver on first ₹5K Paytm txn
Who the Paytm SBI Select is for
Paytm-heavy users ₹10K+/month on bill pay, recharge, offline UPI via card. Cashback of ₹6K/year beats the ₹1.5K fee by 4×.
Final verdict
Strong Paytm-ecosystem card at this fee level. Competes with HDFC Paytm variants. Pick based on banking relationship and which issuer you trust more.
FAQ
Can I redeem cashback directly as Paytm Wallet balance?
Yes — preferred redemption. Alternative is statement credit at 1:1.
Is this same as Paytm HDFC Select Business?
Different — Paytm HDFC is business-focused; Paytm SBI Select is consumer-first with lounge access.
How do I get the Y1 waiver?
Automatic on first Paytm transaction of ₹5K+ within 90 days of card issue.
Fees and features verified against the issuer's public website. Benefits may vary; always confirm current terms with the issuer before applying.