The State Bank of India (SBI), the country’s largest bank, has rolled out a new credit card— SimplyCLICK which targets people who shop online. In its sequence of e-initiatives, after the launch of the mobile app — State Bank Buddy— the bank has now come up with this credit card to strengthen its connections with Gen Y customers. This card is launched in association with seven leading e-retailers — Amazon India, Cleartrip, FabFurnish, Food Panda, BookMyShow, Lenskart, and Ola Cabs.
SimplyCLICK has a joining fee of Rs 499 where the customer will get a complimentary reward of Amazon e-voucher worth Rs 500. Against an annual spend of Rs 1 lakh, the renewal fee will be reversed. The reward scheme offers vouchers worth Rs 4000 to customers spending Rs 2 lakh via online medium annually. In case of offline benefits, customers can enjoy a fuel surcharge waiver of Rs 2.5% across all petrol pumps in India.
Vijay Jasuja, CEO, SBI Card said that the card is designed to address the growing needs of customers who prefer to transact online. It is expected to leverage the popularity of e-commerce in India which is growing at an exceptional pace. Subsequently, this will increase the bank’s credit card holder base of 3.2 million.
Jasuja also added that the bank will offer a five times more reward against the spending on this card as compared to a normal credit card. Also, the associated partners will offer ten times more reward when used on their platforms, summing up to 15 times more rewards points for the customer.