India-based payment solutions provider SBI Card in collaboration with Central, a fashion and lifestyle department store from Future Group, has rolled out a new co-branded credit card.

Designed for the urban shopper, the new Central SBI co-branded card provides a rewarding experience to consumers in the premium lifestyle and fashion space, combining benefits on shopping with dining and entertainment.

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Available in two variants, SELECT and SELECT+, both cards featuring contactless technology offer a savings proposition to the loyal customers of Central. As soon as customers register for the card, they are provided with welcome gift vouchers worth up to INR,5000 ($73.6).

Through an accelerated rewards point structure, cardholders earn 20 reward points for every INR100 ($1.47) spent at Central stores.

Additionally, spending on dining and entertainment earn the cardholder 10 reward points per INR100 ($1.47) spent while purchases in all other categories earn the cardholder two reward points per INR100 ($1.47) spent.

Furthermore, on achieving certain milestone spends, customers can avail savings of up to INR4000 ($58.88) per year.

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State Bank of India chairman Arundhati Bhattacharya said: “SBI Card has been witnessing a strong year on year growth in the last few years and is today the second largest credit card issuer in India.

“With the launch of our retail co-branded credit card with Future Group brand Central, we are looking to deliver more value to existing and prospective credit card customers.

“Both SBI and Central are two very strong customer centric brands and we are sure this new partnership will drive growth for SBI Card in the high growth premium lifestyle and apparel segment.”