SBI Cashback vs Standard Chartered Ultimate
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
SBI Cashback wins 7-1. Pure online cashback, 5% on any online merchant, no partner restrictions. Standard Chartered Ultimate is still the right call if best general earn-rate at the ₹5k fee tier..
Side-by-side
| Criterion | SBI Cashback | Standard Chartered Ultimate |
|---|---|---|
| Annual fee | ₹999 | · ₹5,000 |
| Joining fee | ₹999 | · ₹5,000 |
| Top reward rate | 5% (shopping) | · 3.3% (general) |
| Base reward rate | · 1% | 3.3% |
| Forex markup | = 3.5% | = 3.5% |
| Welcome bonus | = No welcome bonus, value lives in the cashback rate | = 6,000 reward points + ₹1,000 voucher |
| Fee waiver threshold | ₹200,000 / yr | · ₹1,500,000 / yr |
| Min income | ₹360,000 | · ₹1,500,000 |
| Min credit score | 750 | · 780 |
| Editorial rating | 4.6/5 | · 4.4/5 |
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
Standard Chartered Ultimate
- 5 reward points per ₹150 (effectively 3.3%)
- 4 complimentary international lounge visits/year
- BookMyShow buy-1-get-1
- 1% fuel surcharge waiver
- Comprehensive travel + purchase insurance
FAQ
›SBI Cashback vs Standard Chartered Ultimate: which is better?
SBI Cashback wins on more dimensions (7 vs 1). But the right answer depends on your specific spending pattern, see the calculator below.
›Can I get both?
Yes, if your credit profile supports it, holding both is the optimal play. Use SBI Cashback for online shopping, Standard Chartered Ultimate 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. Standard Chartered Ultimate: 6,000 reward points + ₹1,000 voucher.