The Business Bytes
TBB BUREAU
MUMBAI, OCT 31, 2023
SBI Card and Reliance Retail have joined hands to launch lifestyle-focused credit card ‘Reliance SBI Card’ which will offer a holistic and rewarding shopping experience to customers.
Reliance SBI Card allows cardholders to unlock rewards and benefits while transacting at Reliance Retail’s extensive and diverse ecosystem, ranging from fashion & lifestyle to grocery, consumer electronics to pharma, furniture to jewellery, and many more. Additionally, Reliance SBI Card users can also enjoy curated offers rolled out by SBI Card on an ongoing basis.
The tie-up aims to leverage the extensive network of SBI Card with the vast consumer reach and unique retail proposition of Reliance Retail to bring a spectrum of exclusive rewards, ranging from special welcome benefits to tailor-made travel and entertainment benefits, as well as special spends-based milestone rewards like renewal fee waiver and Reliance Retail vouchers for transacting across the Reliance Retail network.
The card will be launched in two variants – Reliance SBI Card and Reliance SBI Card PRIME, each designed to bring varied rewards and lifestyle perks for distinct consumer needs.
The annual renewal fee of Reliance SBI Card PRIME is Rs 2,999 and that of Reliance SBI Card is Rs 499 plus applicable taxes. Cardholders can avail renewal fee waiver upon achieving the annual spends milestone of Rs 3,00,000 on Reliance SBI Card PRIME and Rs 1,00,000 on Reliance SBI Card. This card is made of recycled plastic and has been introduced on RuPay platform.
“We are excited to partner with SBI Card, a leader in the card industry, to offer Reliance SBI Card with a wide range of benefits, exclusive discounts and rewards for shopping with us online and at all our stores,” said V Subramanian, Director of Reliance Retail Ltd.
SBI Card MD & CEO Abhijit Chakravorty said, “We are delighted to partner with Reliance Retail that has redefined India’s organised retail. This partnership is a result of our shared focus on customer-centricity and commitment to provide world-class customer experience. At SBI Card, we have always believed in delivering products to our customers that offer strong value while addressing their lifestyle needs. Reliance SBI Card has been developed as a holistic product that is relevant for major consumer segments. It is a powerful addition to our robust co-brand portfolio, and we expect this to become a popular credit card given the universal usage avenues that it offers.”
Reliance Retail has a diversified portfolio of stores and digital commerce platforms across various consumption baskets under its umbrella. The key retail brands include – Reliance Smart, Smart Bazaar, Reliance Fresh Signature, Reliance Digital, Reliance Trends, JioMart, Ajio, Reliance Jewels, Urban Ladder, Netmeds, and many more.
