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SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card

In Business
November 01, 2023

MUMBAI:
SBI Card, India’s largest pure-play credit card issuer and Reliance Retail, India’s largest retailer, have come together to launch the co-branded ‘Reliance SBI Card’. This one-of-its-kind lifestyle-focused credit card offers a holistic and rewarding shopping experience to customers across segments with varied spending needs, right from mass to premium. The card enables 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 jewelry, and many more. Additionally, Reliance SBI Card users can also enjoy thoughtfully curated offers rolled out by SBI Card on an ongoing basis.

This synergistic alliance between the two industry leaders 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 partnership aspires to redefine customer experience and create a new benchmark for credit card rewards in the Indian market.

The co-branded card has been launched in two variants – Reliance SBI Card and Reliance SBI Card PRIME, each meticulously designed to bring varied rewards and lifestyle perks for distinct consumer needs.

V Subramaniam, Director, Reliance Retail Limited, said, “At Reliance Retail, we are always looking for new ways to delight our customers by making their shopping experience more enjoyable every day. Our co-branded credit card with SBI Card is one more step towards this commitment. 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. Together with SBI Card, we hope to continue to exceed expectations and bring joy to our customers.”

Abhijit Chakravorty, MD & CEO, SBI Card, 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.”

The annual renewal fee of Reliance SBI Card PRIME is ₹ 2,999 plus applicable taxes and that of Reliance SBI Card is ₹ 499 plus applicable taxes. Cardholders can avail renewal fee waiver upon achieving the annual spends milestone of ₹ 3,00,000 on Reliance SBI Card PRIME and ₹ 1,00,000 on Reliance SBI Card. This card is made of recycled plastic and has been introduced on RuPay platform.

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.