SBI Card, India’s largest pure-play credit card issuer, announced the launch of ‘Aditya Birla SBI Card‘, a highly rewarding lifestyle credit card, in a strategic partnership with Aditya Birla Finance Ltd. (ABFL), the lending subsidiary of Aditya Birla Capital Ltd. The card has been designed to give customers significant reward points on their spending around telecom, fashion, travel, dining, entertainment, and hotels, among others. This makes ‘Aditya Birla SBI Card’ one of the most compelling cards for customers across segments, offering exciting benefits on both premium and mass brands that belong to the Aditya Birla Group.
Aditya Birla SBI Card
The rewards-centric credit card has been launched in two variants – ‘Aditya Birla SBI Card SELECT‘ and ‘Aditya Birla SBI Card‘, on the Visa platform. Cardholders can avail greater value back in the form of reward points on their spends on Aditya Birla Group Companies, be it on telecom bills through Vodafone Idea (Vi) or on lifestyle stores such as Louis Philippe, The Collective, Van Heusen, Allen Solly, Peter England, American Eagle, Polo, and Pantaloons among others. In fact, this card provides an added advantage of accelerated Reward Points on spends in hotels, a key benefit for travel savvy consumers.
According to Mr. Rama Mohan Rao Amara, MD & CEO, SBI Card, “We are delighted to join hands with Aditya Birla Finance, one of the leading NBFCs in India. This partnership will enable us to issue credit cards to Aditya Birla Group’s customer base, thereby providing them a great product for all their spending needs. This is in line with our strategy of enhancing value for both customers and co-brand partners. The customer acquisition process will be completely digital, thereby ensuring an enhanced customer experience. Aditya Birla SBI Card’s unmatched benefits coupled with Aditya Birla Group’s extensive and diversified brand portfolio will be a striking proposition for customers looking to spend across varied lifestyle categories.”
Speaking on the launch, Mr. Rakesh Singh, MD & CEO, Aditya Birla Finance Ltd, said, “We are delighted to collaborate with SBI Card to launch the ‘Aditya Birla SBI Card’, which will immensely benefit the 35 million customers of Aditya Birla Capital and help us leveraging the customer ecosystem of the Aditya Birla Group. Consumers are adapting to digital payments today, and this offering will fuel the purchasing power of our consumers. It will enable us to engage deeper with them by ensuring an impactful consumer experience, best–in–class rewards, and hassle-free payment services.”
Mr. Sandeep Ghosh, Group Country Manager, India and South Asia, Visa said, “This exciting partnership of Visa, Aditya Birla Finance and SBI Card for the Co-branded credit card is a great example of delivering simple yet customized offerings, for various brands of Aditya Birla Group and in categories like dining, entertainment, and fuel. We are confident the proposition will appeal to consumers and help build loyalty.”
Through ‘Aditya Birla SBI Card SELECT‘, customers can avail 20 Reward Points on every Rs. 100 spent in Aditya Birla stores and 10 Reward Points on every Rs. 100 spent in dining, entertainment, and hotels. As a welcome gift, the card offers 6000 Reward Points to customers upon payment of card membership fee. They also earn 3000 Reward Points on achieving annual spends milestone of Rs. 1.5 lakh and an additional 3000 Reward Points when they reach Rs. 3 lakh annual spends milestone.
The joining/annual renewal fee for ‘Aditya Birla SBI Card‘ and ‘Aditya Birla SBI Card SELECT‘ is Rs. 499 and Rs. 1499 respectively.
Key highlights of the card variants:
Aditya Birla SBI Card SELECT
Aditya Birla SBI Card
Reward Points:
20 Reward Points per Rs. 100 spent on Aditya Birla Stores (offline and online).
10 Reward Points per Rs. 100 spent on dining, entertainment & hotels.
2 Reward Points per Rs. 200 spent on other categories. (Except fuel, utilities and wallet reloads)
Reward Points:
10 Reward Points per Rs. 100 spent on Aditya Birla Stores (offline and online)
5 Reward Points per Rs. 100 spent on dining, entertainment & hotels
1 Reward Point per Rs. 200 spent on other categories. (Except fuel, utilities and wallet reloads)
Welcome Benefit:
6000 Reward Points as welcome gift
Welcome Benefit:
2000 Reward Points as welcome gift
Milestone Benefits:
3000 Reward Points on achieving annual spends milestone of Rs. 1.5 lakh
Additional 3000 Reward Points on achieving annual spends milestone of Rs. 3 lakh
Milestone Benefits:
2000 Reward Points on achieving annual spends milestone of Rs. 1 lakh
Additional 2000 Reward Points on achieving annual spends milestone of Rs. 1.5 lakh
Travel Benefit:
4 complimentary visits per calendar year to domestic Visa lounges in India. (Max 1 visit/quarter)
Fuel Surcharge Waiver:
1% fuel surcharge waiver across all petrol pumps
Fuel Surcharge Waiver:
1% fuel surcharge waiver across all petrol pumps
About SBI Card
SBI Cards and Payment Services Limited is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle. The brand has a wide base of over 13.7 million cards in force as of Q4 FY22. It has diversified customer acquisition network that enables to engage prospective customers across multiple channels. SBI Card is a technology driven company.
P.S. The brand name of the company is ‘SBI Card‘ and it is registered in the name of ‘SBI Cards and Payment Services Limited’. The company is trading under the entity name ‘SBICARD‘ on stock exchanges.
About Aditya Birla Finance Limited
Aditya Birla Finance Limited (“ABFL“), a subsidiary of Aditya Birla Capital Limited is among the leading well-diversified non-banking financial services company in India. ABFL offers customized solutions in areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication. ABFL is registered with RBI as a systemically important non-deposit accepting non-banking finance company (“NBFC“) and is amongst the top five largest private diversified NBFCs in India based on AUM.
For the Quarter ended 31st March 2022, ABFL has a lending book of Rs. 551.80 billion and a net worth of Rs. 98.60 billion. ABFL’s long-term credit rating of AAA (Stable) has been reaffirmed by ICRA in September 2020. ABFL also has long-term credit rating of AAA (Stable) by India Ratings, Perpetual debt credit rating of AA+ (Stable) by ICRA and AA+ (Stable) by India Ratings (Stable) and short-term credit rating of A1+ by ICRA & India Ratings.
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group.
ABCL’s subsidiaries have a strong presence across Protecting, Investing and Financing solutions, ABCL is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 30,000 employees, the subsidiaries of ABCL have a nationwide reach with 950 branches and more than 2,00,000 agents / channel partners and several bank partners.
As of March 31st, 2022, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,706 billion, has a consolidated lending book of approx. Rs. 672 billion, and an active customer base of over 35 million, through its subsidiaries and joint ventures.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities. Today, over 50% of Group revenues flow from overseas operations that span 36 countries in North and South America, Africa, Asia, and Europe. www.adityabirlacapital.com.
