SBI Card launches credit card for online shopping
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The country's largest bank, SBI, has taken yet another e-initiative to revamp its image and connect with the natty Gen Y consumer. After the launch of mobile app, State Bank Buddy, last month, SBI Card has launched SimplyCLICK, a credit card targeted at the online shopper.
In collaboration with seven leading e-retailers -- Amazon India, Cleartrip, FabFurnish, Food Panda, BookMyShow, Lenskart and Ola Cabs -- it has brought out a card to leverage the popularity of e-commerce in India and expand its existing base of 3.2 million credit card holders. "It's a culmination of our efforts to address the evolving needs of the consumers and has been inspired by the aspirations of a generation that is always online," said Vijay Jasuja, CEO, SBI Card.
The card comes for a fee of Rs 499, but new customers will get an Amazon e-voucher worth Rs 500. The renewal fee will be reversed if the customer crosses an annual spend of Rs 1 lakh. Loaded with other benefits, it offers rewards to the tune of 5X on all online spends and 10X on purchases made on partner sites. The customer can also get Rs 4,000 worth of vouchers on spends of Rs 2 lakh annually. The offline spend benefits include fuel surcharge waiver of 2.5% across petrol pumps in India.
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