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If you are an SBI customer, you are probably familiar with the SBI Rewardz program. This program rewards you for using your SBI debit or credit card for purchases, with points that can be redeemed for a variety of rewards. One of the most popular ways to redeem SBI Rewardz points is to convert them into cash. In this article, we will explore how you can convert SBI Rewardz into cash and everything else you need to know about this process.
Before we dive into how to convert SBI Rewardz into cash, let's first understand what these points are. SBI Rewardz points are reward points that you earn when you use your SBI debit or credit card. The number of points you earn depends on the amount of your transaction and the type of SBI card you have.
You can accumulate SBI Rewardz points over time through regular use of your SBI card. These points can then be redeemed for a variety of rewards, including merchandise, gift cards, air miles, and cash. While many SBI customers choose to redeem their points for merchandise or gift cards, the ability to convert points into cash is a popular choice for those who want to see a direct benefit to their finances.
If you want to convert your SBI Rewardz points into cash, there are a few steps you need to take. First, you need to login to your SBI Rewardz account. If you do not have an account already, you can create one by visiting the SBI Rewardz website.
Once you are logged in, you will see a list of redemption options. Look for the option that says cash or cashback. This will usually be listed under the gift cards and vouchers section.
When you choose the cash redemption option, you will be asked to enter the number of points you want to convert into cash. The conversion rate for SBI Rewardz points varies and can be anywhere from 0.25 paisa to 1 rupee per point, depending on the offer available at the time.
After you enter the number of points you want to convert, the cash amount will be added to your SBI account within a few business days. You can then use this money for anything you need, such as paying bills, making purchases, or saving for the future.
While redeeming SBI Rewardz points for cash is one of the most popular options, there are other redemption options available as well. For example, you can redeem your points for merchandise from the SBI Rewardz catalogue, which includes a wide range of products from top brands.
You can also use SBI Rewardz points to get discounts on flight bookings or hotel stays through partner websites. This is a great way to save money on travel, especially if you are already using your SBI card for these purchases.
It's important to remember that SBI Rewardz points do have an expiration date. If you do not redeem your points within a certain timeframe, they will expire and you will lose them. The expiration date varies depending on the type of SBI card you have, so be sure to check your account to see when your points will expire.
The ability to convert SBI Rewardz points into cash is just one of the many benefits of being an SBI customer. By taking advantage of this program, you can earn rewards for simply using your SBI debit or credit card, and then convert those rewards into cash that you can use for anything you need. Whether you are looking to save money, pay bills, or make a new purchase, SBI Rewardz points can help you achieve your financial goals faster and easier.