Rama Mohan Rao Amara, Managing Director & Chief Executive Officer, SBI Card, said, “It has always been our endeavour at SBI Card to bring best-in-class products, services and an unmatched experience to our customers. We are delighted to have Fabindia as our partners to bring yet another powerful and unique value proposition to our affluent and premium consumer segment. Introduction of the new Fabindia SBI Card further bolsters our premium portfolio, reinforces our commitment to enable our customers to embrace digital payments and contribute to the country’s digital economy.”
Viney Singh, Managing Director, Fabindia said, “We are pleased to announce the launch of Fabindia SBI Card, and our association with SBI Card, one of the most trusted names in India. The past year has been marked by fundamental shifts in the way we live and interact, amply underlined by the changing patterns evident in our spending, evolving priorities and growing reliance on technology. The solutions and incentives that Fabindia and SBI Card together bring to our customers are designed to contribute significant value and result in customer delight.”
As per the regulatory filing, the new co-branded contactless credit card combines the best in class rewards points on retail spends with value back on varied spending categories, thus addressing the overall spending needs of premium cardholders.
What’s more, the Fabindia SBI Card customer gets direct entry to Fabindia’s FabFamily loyalty programmes at higher tiers (Gold and Platinum) which is otherwise provided to the customers only after qualifying the minimum annual spending of Rs30,000 and Rs75,000 respectively.
Also, Fabindia SBI Card SELCET offers 10% value back to customers buying in-stores at Fabindia along with complimentary domestic airport lounge access. The card also offers milestone benefits worth Rs1250 on quarterly spending of Rs200,000, in the form of gift vouchers. The Fabindia SBI Card SELCET customers also get Fabindia gift vouchers worth Rs1500 as a welcome gift.
At around 1.50 pm, SBI Card was trading at Rs970 per piece down by 0.65% on Sensex.