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May 19, 2015

Federal Bank, SBI Card to launch new co-branded credit cards

India-based private sector bank Federal Bank has partnered with SBI Card to launch Federal Bank-SBI co-branded credit cards.

By Verdict Staff

India-based private sector bank Federal Bank has partnered with SBI Card to launch Federal Bank-SBI co-branded credit cards.

The collaboration will allow Federal Bank to launch two new variants of Visa credit cards for its customers, namely Platinum and Gold ‘N More.

The two new variants will be chip-based cards offering a high level of security for cardholders and will be accepted worldwide in over 27 million outlets including three million outlets in India.

The platinum variant namely the Federal Bank SBI Platinum Credit Card will provide benefits to customers of the bank mainly for fuel payments and dining.

The platinum card will also offer benefits such as reward points for every use at dining, departmental and international stores, international airport lounge access and golf course access as well as exclusive gift voucher worth INR3,000 ($47) on payment of fees.

The Platinum variant will have a credit limit up to INR500,000 ($7,848), while the Gold variant will have credit limit of INR175,000 ($2,747.4).

These credit cards will be rolled out in two phases, the first phase will include the availability of the card at select branches of Federal Bank and more branches will be added in the second phase.

SBI Card CEO Vijay Jasuja said: "Through this collaboration we hope to extend our bouquet of best in class services and rewarding offers to Federal Bank customers. We are confident that the new card will add value to the consumers of Federal Bank."

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