Head-to-head · 🇮🇳 India
SBI Cashback vs ICICI Platinum Chip
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
IN
SBI Card
SBI Cashback
Wins 4 of 10
IN
ICICI Bank
ICICI Platinum Chip
VISA
Wins 4 of 10
Verdict
It's a true tie, neither dominates. Pick the one whose boost categories match where you actually spend.
Side-by-side
| Criterion | SBI Cashback | ICICI Platinum Chip |
|---|---|---|
| Annual fee | · ₹999 | No annual fee |
| Joining fee | · ₹999 | None |
| Top reward rate | 5% (shopping) | · 0.5% (general) |
| Base reward rate | 1% | · 0.5% |
| Forex markup | = 3.5% | = 3.5% |
| Welcome bonus | = No welcome bonus, value lives in the cashback rate | = No welcome bonus, fee-free for life |
| Fee waiver threshold | ₹200,000 / yr | · N/A (no fee) |
| Min income | · ₹360,000 | ₹200,000 |
| Min credit score | · 750 | 700 |
| Editorial rating | 4.6/5 | · 3.6/5 |
Benefits compared
SBI Cashback
- 5% cashback on ALL online spends (not just listed merchants), capped ₹4,000 per statement cycle (₹2,000 online + ₹2,000 offline sub-caps, effective 1 Apr 2026)
- 1% cashback on offline spends
- Auto-credited within 2 days of statement
- 1% fuel surcharge waiver
ICICI Platinum Chip
- 2 PAYBACK points per ₹100
- 15% off at 800+ restaurants
- 1% fuel surcharge waiver
- Lifetime free, no annual fee ever
FAQ
›SBI Cashback vs ICICI Platinum Chip: which is better?
It's a true tie, pick the one whose boost categories match your spend. SBI Cashback wins on 4 criteria, ICICI Platinum Chip on 4.
›Can I get both?
Yes, if your credit profile supports it, holding both is the optimal play. Use SBI Cashback for online shopping, ICICI Platinum Chip for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
SBI Cashback: No welcome bonus, value lives in the cashback rate. ICICI Platinum Chip: No welcome bonus, fee-free for life.