Paytm SBI Card cuts education spends — 1% value

Paytm SBI Card has stopped earning Reward Points on school and education spends, effective 9 Mar 2026. The card previously accrued points at a 1% value-back rate on these spends, with each point worth ₹1. This change affects eleven merchant category codes, including 5111, 5192, 5942, 5943, 5947, 8211, 8220, 8241, 8244, 8299, and 8351. The impact of this change is significant, as school fees are one of the few large recurring bills an Indian household can put on a card. On the Paytm SBI Card, which has an annual fee of ₹499 with no fee waiver at any spend level, education spends were one of the easier ways to earn the fee back. Our take: If you rely on the Paytm SBI Card for education spends, consider alternative redemption options or burn your existing balance before the change affects your earnings. The card’s exclusion list now includes wallet loads, fuel, and education spends, making it less favourable for certain types of transactions.