SBI Card reward points redemption: the Shop & Smile catalogue, statement credit and GyFTR vouchers

What is the SBI Card rewards catalogue and who runs it?

It is the Shop & Smile Program, run by SBI Cards and Payment Services Limited for its retail credit cards. Its terms let you redeem Reward Points for physical products or vouchers listed in the catalogue, or for statement credit against your card outstanding.

SBI Card uses third-party service providers to supply physical products, and the terms make the supplier responsible for their quality. A separate site, the SBI Card Instant Gift Vouchers platform at gyftr.com/sbicard, is run by GyFTR (Vouchagram India) for buying vouchers with an SBI card. Its terms describe payment by SBI card and GV Coins, and do not mention SBI Card Reward Points.

Which SBI cards can redeem in the Shop & Smile catalogue?

SBI retail credit cards that earn Reward Points, and the terms name the BPCL, BPCL Octane and Air India Platinum, Signature and Advantage cobrand cards as eligible. The catalogue's card filter on 9 November 2026 listed variants such as SBI Card ELITE, SBI Signature and Air India SBI Signature.

Only the primary cardholder can redeem, and points on two SBI cards cannot be combined. You cannot redeem while the account is overdue, suspended, blocked or cancelled, or if your periodic KYC update is pending.

How much is an SBI Card reward point worth?

Against your bill, SBI Card's ELITE page sets 4 Reward Points to Re 1, so Rs 0.25 a point. In the catalogue the rate depends on the item: a Rs 500 Netmeds e-voucher cost 2,700 points on 9 November 2026, about Rs 0.19 a point.

Points + Pay splits the price. The same Netmeds voucher was 1,350 points plus Rs 250, and the Pay part earns no points. The SimplyCLICK terms convert a negative balance at Rs 0.25 a point and say the rate may vary by card. Earn rates also differ: 2 points per Rs 100 on ELITE and 1 per Rs 150 on SimplySAVE, under Table 1 of the Shop & Smile terms.

Catalogue prices read on sbicard.com on 9 November 2026. SBI Card can change the points needed for any item. Your card's own page sets its statement credit rate.

What does it cost to redeem SBI Card points, and what are the limits?

Rs 99 plus taxes a request on some types. SBI Card's MITC applies the fee to physical products, statement credit and vouchers sent by post, on all cards except AURUM. The Shop & Smile terms name only physical products and statement credit, and say two requests either side of the daily batch run are charged twice.

From 1 April 2026, statement credit is capped at 60,000 points per card per calendar month and must be in multiples of 4,000 points. Air India SBI Signature and the two PhonePe SBI cards are outside the cap, and the PhonePe cards are outside the 4,000 rule. No fee is charged if you have closed the account when the fee posts. Points cannot be exchanged for cash or any credit other than statement credit.

How long do SBI Card points last, and when are they forfeited?

24 months. Points lapse on the last day of the 24th month from the month they are earned, and AURUM points never expire, under the MITC.

The Shop & Smile terms also forfeit points for payment more than 90 days late, settlement of dues, fraud, death, closure after 13 months of inactivity, and two missed payments in a row, which costs the points from the first unpaid cycle. On voluntary closure you have 30 days to redeem, without Points + Pay. Air India SBI cards must convert to Air India miles before closure.

Points earned on a transaction that also gets a cashback or instant discount offer are taken back, within 90 days of the cashback or 120 days after the offer month. EMI conversion forfeits the points on that transaction.

How are SBI Card vouchers and products delivered, and can I cancel?

E-vouchers go to your registered email and mobile within 5 working days under the terms, while the FAQ says 5 calendar days on a best-effort basis. Physical products arrive within 15 calendar days on a best-effort basis, to the primary cardholder's registered address only.

Report a wrong, damaged or incomplete item within 2 days of receipt, or SBI Card can refuse the complaint. Delivery disputes are taken within 30 days of the request. Redeemed products and e-vouchers cannot be cancelled, and expired vouchers are not revalidated. If an item is out of stock, SBI Card can offer a model of the same or higher value, at your choice.

What is the SBI Card Instant Gift Vouchers platform on GyFTR?

It is GyFTR's voucher store for SBI Card holders, reached from the SBI Card app or gyftr.com/sbicard. GyFTR's page lists over 175 brands, discounts up to 40% and up to 10% back as GV Coins, at 1 GV Coin to Re 1.

Under GyFTR's terms for SBI Card holders, GV Coins last 6 months, buy only vouchers on the same platform, and cannot be used for Amazon Pay vouchers. Vouchers last 3 to 12 months by brand and cannot be cancelled once bought, and SBI Card is not responsible for fulfilment. Corporate cards are excluded. See gift cards and vouchers for voucher rules across banks.

How do I redeem SBI Card reward points?

Log in at sbicard.com, open Rewards and then Redeeming Reward Points, pick an item and confirm. In the SBI Card app, go to More, then Rewards, then Redeem, and check out your cart. For statement credit, the FAQ says to write to SBI Card at sbicard.com/email or call the helpline.

The Shop & Smile terms list 1860 180 1290 and 1860 500 1290 for customer service, and customercare@sbicard.com. Your points balance is shown on each monthly statement.