Bengaluru, 21th February 2020: SBI Card has partnered with Landmark Group, one of the largest retail and hospitality conglomerates in India, to launch a unique set of retail co-branded credit cards. The three newly launched cards,Lifestyle Home Centre SBI Card, Max SBI Card and Spar SBI Card, have been introduced in partnership with four Landmark Group brands – Lifestyle, Home Centre, Max and Spar.
Designed to be a one stop paymentsolution for the entire family, these cards provide a rewarding shopping experience to cardholders across categories that include fashion – premium and affordable, home furnishing including furniture and grocery.The underlying value proposition of all these cards is the same. Cardholders of any of these cards can avail similar benefits at all participating Landmark brands, thus getting savings and a host of other benefits across a spectrum of categories through a single card.
The new co-brand cards are available in three variants – Base, SELECT and PRIME and cater to consumers across segments from value-for-money to premium to super premium.
Speaking at the launch, Mr Hardayal Prasad, MD & CEO, SBI Card, said, “We are pleased to partner with Landmark Group to introduce Lifestyle Home Centre SBI Card, Max SBI Card and Spar SBI Card. Through this tie up we will offer our cardholders a strong savings propositionacross key spend categories such as fashion, home furnishing, furniture and grocery on a single card. The newly launched cardsbring a one stop payment solution to meet and reward purchase needs of consumers in these segments. This launch will strengthen our retail co-brand credit card portfolio which we have built to fulfil diverse consumer needs.”
According to Mr. Vasanth Kumar – Managing Director, Lifestyle International Pvt. Ltd.: “As a leading retail player in the country, we continuously endeavour to enable a joyful and rewarding shopping experience for all our customers. The co-branded credit card with SBI Card is yet another step taken to fulfil that promise. With accelerated reward points and spend based benefits, these cards will be a win-win for consumers as they shop across various Landmark brands. Offering the best of both the players, the co-branded SBI credit card program will combine the shopping experience, convenience and value that customers have come to know and love from Landmark Group backed by the best-in-class service, benefits and security of SBI Card.”
According to Mr. Shital Mehta – Executive Director& CEO, Max Fashions,“As a leading fashion brand, we want to bring more value to our customers through a co-branded card that rewards users on their purchases. This co-branded card will provide additional benefits to our valued customers thus enabling us to deepen our relationship with them while providing them yet another reason to shop at our stores. Max is very thrilled to be partnering with SBI Card.”
PRIME variant cardholders can avail total savings of up to INR 30,000 annually on this card.
Cardholders enjoy complimentary loyalty membership to Landmark Rewards Program and they also earn accelerated reward points on the SBI Card rewards platform upon shopping with these cards. Cardholders of the PRIME variant of the co-brand cards earn 15 reward points per INR 100 spent at Lifestyle, Home Centre, Max and Spar; 10 reward points per INR 100 spent on dining and movies; and 2reward points per INR 100 spent on other retail purchases. SBI Card Reward Points can be converted to Landmark Rewards and redeemed across Lifestyle, Home Centre, Max, Spar and other Landmark Brands in Indiathereby rewarding loyal customers.
The cards also reward customers for their loyalty through various spend based milestone benefits as well as bonus reward points upon card renewal. Customers of PRIME variant can avail savings of upto INR 14500 on achieving milestone spends. The cards deliver value from the point of enrolment itself, offering welcome benefits worth INR 3000 on the PRIME variant. Renewal benefits worth INR 3000 can be availed upon card renewal.
The joining and renewal fee for the Base variant is INR 499 plus GST, SELECT variant is INR1499 plus GST and PRIME variant is INR 2999 plus GST.