SBI ‘signature’ cards Launched, Targeted at High Net-worth Individuals (HNIs)

In order to compete better with competitors like HDFC and ICICi, both of whom already have such offerings, SBI Cards, the third largest credit card issuer in the country today launched a ‘signature’ card targeted at the high net-worth individuals.

The SBI Signature Card is available at an annual fee of Rs 5,000. The card holders will also be entitled to a full fare airline ticket or gift vouchers worth Rs 5,000 from leading lifestyle brands upon enrolment, the release said. The card company is a joint venture between State Bank of India and GE of the US and already has a presence in 50 cities.