New Delhi: In a piece of good news, State Bank of India (SBI), India’s largest bank by assets, has been offering a flat cashback of Rs 1,500 on AC purchases via SBI Card at the prescribed list of stores.

According to the report, the flat cashback offer of Rs 1,500 is applicable on purchase of inverter ACs up until May 30, 2019. In order to get a flat cashback of Rs 1,500 a person has to purchase the AC on EMIs of 3 months, 6 months, or 9 months and the minimum order value should be Rs 20,000. The cashback offer is available on large format electronic chain & select general trade merchant outlets. A customer can confirm the applicability of the cashback offer on stores before purchasing the AC. The cashback under this program shall be credited in the account of the cardholder by August 30, 2019.

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SBI said, the offer is valid only on transactions done on Pinelabs swipe machine under 'Brand EMI' option and only if 'Rs 1,500 Cashback' is mentioned on the charge slip. Customers are requested to retain charge slip for 180 days post-program end date.

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SBI Card will levy a rate of interest at 14 per cent on 3, 6, 9 and 12-month tenures and 15 per cent on 18 and 24-month tenures on monthly reducing balance on EMI transactions.