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SBI Card Cashback vs Amazon Pay ICICI Bank: Which Card Is Better?

A side-by-side comparison of SBI Card Cashback and Amazon Pay ICICI Bank credit cards: fees, reward rates by category, caps, forex markup, lounge access, and which one earns more for different kinds of spenders.

Verdict

SBI Card Cashback earns more in 7 of the 7 spending profiles we tested. Choose SBI Cashback for online shoppers spending up to ₹40,000 a month online. Choose Amazon Pay ICICI for amazon prime members who want a no-fee card.

Spending profileSBI CashbackAmazon Pay ICICIWinner
Balanced spender₹9,960₹5,400SBI Cashback (+₹4,560)
Online shopper₹15,180₹7,980SBI Cashback (+₹7,200)
Frequent traveller₹18,804₹6,782SBI Cashback (+₹12,022)
Family & groceries₹10,320₹7,920SBI Cashback (+₹2,400)
Foodie₹11,040₹5,280SBI Cashback (+₹5,760)
Daily commuter₹5,820₹3,900SBI Cashback (+₹1,920)
High spender₹25,566₹19,893SBI Cashback (+₹5,673)

Estimated yearly value after caps, fees (with GST) and forex costs. Try your own spends →

SBI Cashback vs Amazon Pay ICICI: full comparison

FeatureSBI Card CashbackAmazon Pay ICICI Bank
Card
SBI Card CashbackSBI Card
Amazon Pay ICICI BankICICI Bank
Annual fee₹999 + GSTFree
Joining fee₹999 + GSTFree
Fee waiverWaived on ₹2,00,000 yearly spendNo fee to waive
NetworkVisaVisa
Amazon rewards5%5%
Flipkart rewards5%1%
Other online shopping rewards5%1%
Food delivery rewards5%1%
Dining out rewards1%1%
Groceries rewards1%1%
Flights & hotels rewards5%1%
Fuel rewards0%0%
Bills & recharges rewards0%2%
Everything else rewards1%1%
Forex markup3.5%1.99%
Lounge accessNoneNone
Reward caps5% online cashback capped at ₹2,000 per statement (since April 2026)
1% offline cashback capped at ₹2,000 per statement		No major caps
Est. yearly value: balanced spender₹9,960₹5,400
Est. yearly value: online shopper₹15,180₹7,980
Est. yearly value: frequent traveller₹18,804₹6,782
Est. yearly value: family & groceries₹10,320₹7,920
Best forOnline shoppers spending up to ₹40,000 a month onlineAmazon Prime members who want a no-fee card
Pros
  • 5% cashback on almost all online spends, with no merchant restrictions
  • 1% cashback on offline spends
  • Cashback is auto-credited to your statement
  • Annual fee waived on ₹2 lakh yearly spend
  • Lifetime free, with no joining or annual fee
  • 5% back on Amazon for Prime members
  • 2% back on bill payments through Amazon Pay
  • Lower 1.99% forex markup
Cons
  • Online cashback cap cut from ₹5,000 to ₹2,000 a month in 2026
  • No cashback on rent, fuel, wallet loads, utilities, gaming, tolls and government payments
  • No airport lounge access
  • 3.5% forex markup
  • Only 3% on Amazon without Prime
  • Flights and hotels booked via Amazon Pay no longer earn the 5%/3% rate
  • 1% fee on wallet loads of ₹5,000+ and on utility payments above ₹50,000 a month (2026)
  • No lounge access
Visit SBI CardVisit ICICI Bank

FAQs

Which is better, SBI Cashback or Amazon Pay ICICI?

SBI Card Cashback comes out ahead in 7 of 7 spending profiles we tested. Choose SBI Card Cashback if you want a card for online shoppers spending up to ₹40,000 a month online. Choose Amazon Pay ICICI Bank if you want a card for amazon prime members who want a no-fee card.

What is the difference in annual fee between SBI Cashback and Amazon Pay ICICI?

SBI Card Cashback: ₹999 + GST (waived on ₹2,00,000 yearly spend). Amazon Pay ICICI Bank: Lifetime free (no fee to waive).

Which card has a lower forex markup?

Amazon Pay ICICI Bank has the lower forex markup at 1.99%, compared with 3.5%.

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