If you hold a SBI Card, there’s a key update ahead for how you redeem your reward points. Starting April 1, 2026, SBI Card is changing the reward points redemption structure — particularly when converting points into statement credit.
What’s Changing From April 1, 2026
1. Monthly Cap on Reward Point Redemption
Starting April 1, 2026, you’ll only be able to redeem up to 60,000 reward points per calendar month toward statement credit per eligible card.
This means even if you have more points, you can convert only 60,000 points max per month into a reduction on your card bill (statement credit).
2. Redemption Only in Multiples of 4,000 Points
Under the new rules, statement credit redemptions must be done in fixed blocks of 4,000 points — e.g., 4,000, 8,000, 12,000… up to the 60,000 limit.
That replaces previous flexibility where you could redeem points in smaller or uneven amounts.
Which Cards Are Affected?
Most SBI credit cards that allow redemption of reward points for statement credit will now follow these caps and multiples.
Exceptions: Some cards are not subject to the monthly cap and multiple rule, including:
Air India SBI Signature Card
PhonePe SBI Card Purple
PhonePe SBI Card Select Black
These exceptions still allow more flexible redemption.
What This Means for You
Reward utilisation may be slower: If you accumulate lots of points, you’ll need multiple months to convert them fully to statement credit.
Planning redemption matters: Since redemptions must be in multiples of 4,000, you’ll want to plan so you don’t waste points or wait unnecessarily.
Other cards may still allow flexible or unlimited conversions: Check if your card is excluded from these limits.