SBI Cashback vs ICICI MMT Signature
Side-by-side comparison across fees, rewards, welcome bonuses, and eligibility.
SBI Cashback wins 6-3. Pure online cashback — 5% on any online merchant, no partner restrictions. ICICI MMT Signature is still the right call if makemytrip loyalists — co-branded with strong travel benefits..
Side-by-side
| Criterion | SBI Cashback | ICICI MMT Signature |
|---|---|---|
| Annual fee | ₹999 | · ₹2,500 |
| Joining fee | ₹999 | · ₹2,500 |
| Top reward rate | · 5% (shopping) | 6% (travel) |
| Base reward rate | · 1% | 1.5% |
| Forex markup | · 3.5% | 2.5% |
| Welcome bonus | = Cashback offsets joining fee on first ₹999+ spend | = ₹2,500 MMT Black holidays voucher |
| Fee waiver threshold | ₹200,000 / yr | · ₹600,000 / yr |
| Min income | ₹360,000 | · ₹800,000 |
| Min credit score | 750 | · 770 |
| Editorial rating | 4.6/5 | · 4.4/5 |
Benefits compared
SBI Cashback
- 5% cashback on ALL online spends (not just listed merchants) — capped ₹5,000/month
- 1% cashback on offline spends
- Auto-credited within 2 days of statement
- 1% fuel surcharge waiver
ICICI MMT Signature
- 6% myCash on flight + hotel bookings via MMT
- 3% myCash on dining + grocery
- 1.5% on others
- 4 international + 4 domestic lounge visits/year
- MMT Black membership
FAQ
›SBI Cashback vs ICICI MMT Signature: which is better?
SBI Cashback wins on more dimensions (6 vs 3). But the right answer depends on your specific spending pattern — see the calculator below.
›Can I get both?
Yes — if your credit profile supports it, holding both is the optimal play. Use SBI Cashback for online shopping, ICICI MMT Signature for its best categories. Just watch the combined annual fees against your spend.
›Which one has the better welcome bonus?
SBI Cashback: Cashback offsets joining fee on first ₹999+ spend. ICICI MMT Signature: ₹2,500 MMT Black holidays voucher.