The Paisabazaar Paisaback Credit Card has been launched by Federal Bank and Paisabazaar, offering up to 7.5% cashback on eligible grocery purchases.
The RuPay credit card is aimed at customers who regularly shop for groceries online and offline.
The card’s benefits are not limited to grocery spending. Customers can also earn cashback on eligible point-of-sale (POS), e-commerce and certain UPI transactions.
Paisabazaar Paisaback Credit Card offers 7.5% cashback
The biggest attraction of the Paisabazaar Paisaback Credit Card is its grocery cashback benefit. Customers can earn up to 7.5% cashback on eligible grocery transactions, both online and offline.
Eligible platforms and stores include Blinkit, Zepto, Swiggy Instamart, BigBasket, DMart, Reliance Fresh, Star Bazaar and Nature’s Basket.
However, the grocery cashback is capped at ₹1,000 per month. This means customers cannot earn more than ₹1,000 in grocery cashback in a billing month, even if their spending qualifies for a higher cashback amount.
Cashback on other transactions too
The card also provides 1% cashback on eligible POS and e-commerce transactions. In addition, customers can receive 0.5% cashback on certain eligible UPI transactions above ₹2,000.
Grocery, fuel and travel transactions are excluded from the UPI cashback benefit. The card also offers a fuel surcharge waiver of up to ₹100 in every billing cycle.
The cashback earned through the card is credited to the customer’s account in the form of Cash Points.
[[H2: Paisabazaar Paisaback Credit Card fees]]
The joining fee for the card is ₹500, while the annual fee is also ₹500. However, the annual fee may be waived if the cardholder spends at least ₹1.5 lakh in a year.
Customers should therefore check their expected annual spending before applying for the card. It is also important to understand which transactions are considered eligible for meeting the annual spending requirement.
How much cashback can you earn on groceries?
For example, if a customer makes eligible grocery purchases worth around ₹10,000 in a month, the 7.5% cashback rate could provide approximately ₹750 in cashback.
If eligible grocery spending reaches around ₹13,333, the cashback at 7.5% would reach approximately ₹1,000. This is the maximum monthly grocery cashback available under the card’s ₹1,000 cap.
The actual cashback will depend on whether the transaction is eligible under the card’s applicable terms and conditions.