SBI: State Bank of India (SBI) Card and Flipkart together have launched a new Flipkart SBI co-branded credit card. This card is especially for customers who do more shopping on Flipkart’s ecosystem such as Myntra, Shopsy and Cleartrip.
This card is available on both mastercard and visa platforms and customers can easily apply digitally from the Flipkart app or SBI card website.
Customers will get many types of cashback offers on this card. Shopping on Mining will give 7.5% cashback, while 5% cashback will be available on Flipkart, Shopsey and Cleartrip. However, every category will get a cashback of up to Rs 4,000 in a quarter. In addition, 4% cashback on selected brands like Zomato, Uber, Netmade and PVR and 1% unlimited cashback on all other transactions will be available.
Cardholders will also get fuel surcharge wave of up to Rs 400 in every statement bicycle. Spending in foreign currency will cost 3.5% forex markup charge. The special thing is that whatever cashback will be earned, it will be credited to the automatic card account within two days of the statement being generated.
The joining and annual fee of this card has been kept at Rs 500 tax extra. If the card holders spend Rs 3.5 lakh in a year, then the annual fee will be waived. New customers will get welcome benefits of up to Rs 1,250, including e-gift cards and clericrip vouchers. As part of the launch offer, customers will also get a chance to win Samsung Galaxy Smartwatch and Ambrane Power Bank.
SBI card MD and CEO Salila Pandey said that this card has been designed according to customers’ changing needs. At the same time, Kalyan Krishnamurthy, CEO of Flipkart Group, said that this partnership is an attempt to provide value to customers and provide access to more and more people to formal credit.
Currently, the SBI card has more than 2.1 crore card holders and serves in lifestyle, rewards, travel, fuel and corporate segments. At the same time, more than 50 crore registered users and more than 14 lakh sellers are connected on the platform of Flipkart.