South Indian Bank has teamed up with SBI Card to launch co-branded credit cards for the customers of the bank.
Under the terms of the agreement, South Indian Bank and SBI Card will introduce two variants of credit card on Visa platform, including South Indian Bank Platinum SBI Card and South Indian Bank SimplySAVE SBI Card.
The platinum SBI card offers features in line with the lifestyle habits of premium customers, whereas SimplySAVE SBI card is for value conscious consumers. It offers rewards and features considering the spending requirements of customers.
The platinum cardholders can enjoy 5x accelerated reward points on international, dining & departmental store spends, gift vouchers worth INR3,000 ($44.87) on joining from Bata, Hush Puppies, M&S, Shoppers’ Stop, Westside and Yatra.com
It also offers complimentary fraud protection of up to INR100,000 ($1,495.7) in case of card theft or fraud.
The SimplySAVE SBI card holders will get 2,000 welcome reward points on making spends of INR2,000 ($29.91) within the first 60 days, 10 reward points on INR100 ($1.49) spent towards dining, watching movies and on departmental and grocery spends. Users can also avail fuel surcharge waive off, of 2.5% on all petrol filling stations.
South Indian Bank executive vice president (admin) Thomas Joseph K said: “The co-branded credit card offering in association with SBI Card would be a perfect value addition for our customers, who can now enjoy enhanced facilities under the wide range of services offered under its ambit.”
The Platinum and SimplySAVE credit cards will be offered at a joining fee of INR2,999 ($44.85) and INR499 ($7.46), respectively.