Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. PSB has also entered the credit card market as a new product segment in its portfolio as a result of this collaboration.
Three card variants—the PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card—have been launched by both partners.
“This co-branding tie up will offer our customers a much rewarding and delightful shopping experience with attractive offers. This exciting proposition will help the Bank in better brand building and also in augmenting the business”, Swarup Kumar Saha, MD & CEO, Punjab and Sind Bank, said.
According to Saha, PSB is in the transformational stage of diversifying into different third-party goods, and the addition of the credit card business to the current portfolio of products will help the Bank in both attracting new customers and keeping its current clientele.
“The card members will have an access to wide suite of exclusive privileges and we are confident that this card will prove to be the most preferred accessory for our customers”, he added.
SBI Card ELITE and PSB SBI Card PRIME have been designed to offer lifestyle privileges and best in class experience to premium and mass premium customers, respectively. PSB SimplySAVE SBI Card offers rewarding experience to value conscious customers through accelerated rewards and benefits on their spending.
These variants have been launched to cater to the spending needs of the customers of PSB across mass, mass premium and premium segments.
“This is a significant partnership for us and marks further expansion of our bank co-brand portfolio which is a critical part of our growth strategy. We look forward to offering exceptional payments experience through our bouquet of world class products and services to Punjab & Sind Bank’s customers,” said Rama Mohan Rao Amara, MD & CEO.
The joining price for the PSB SBI Card ELITE is Rs 4,999 plus taxes, the PSB SBI Card PRIME is Rs 2,999 plus taxes, and the PSB SimplySAVE SBI Card is Rs 499 plus taxes. The PSB SBI Cards ELITE and PRIME will be offered on the VISA platform, while the PSB SimplySAVE SBI Card will be offered on the RuPay network.
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