Mangaluru: Karnataka Bank, a leading private sector Bank of the country, and SBI Card, India’s second largest credit card issuer on Friday have announced their collaboration to launch co-branded credit cards for the customers of Karnataka Bank. Through this alliance Karnataka Bank and SBI Card will start distributing two variants of the co-branded credit card – Karnataka Bank Platinum SBI Card and Karnataka Bank Simply Save SBI Card.

While the Karnataka Bank Platinum SBI Card has been designed keeping in mind the premium customers and offers features in line with their lifestyle and spending patterns, the Karnataka Bank SimplySAVE SBI Card is aimed at value conscious consumers and offers rewards and features that enable customers to maximize their savings on their regular spends.

Eligibility for Karnataka Bank Platinum SBI Card is, the savings of the bank account holders of the bank who are maintaining monthly average balance of Rs 1 lakh and above for the last three months, FD account holders with minimum deposit amount of Rs 1, 80,000, Housing loan account holder with loan amount of Rs 20 lakh and above are eligible for Karnataka Bank Platinum SBI Card.

The Karnataka Bank Platinum SBI Card offers distinct and rewarding benefits to the card holders. The card presently has attractive features such as, 5X Accelerated Reward Points on International, Dining and Departmental Store Spends and others.

Additionally, the Karnataka Bank Platinum SBI Card will also offer various lifestyle benefits such as discounted stay at 55000 plus hotels and villas worldwide, discounted car rentals, complimentary Priority Pass membership and free visits to 25plus airport lounges, discounted golf membership etc.

Eligibility for Karnataka Bank SimplySAVE SBI Card is the savings bank account holders of the bank who are maintaining monthly average balance of Rs 20,000 and above for the last three months, FD account holders with minimum deposit amount of Rs 50,000, housing loan account holders with loan amount of Rs 8 lakh and above are eligible for Simply SAVE Credit Card.

The Karnataka Bank Simply SAVE SBI Card, at present has features such as, 2000 welcome reward points on making spends of Rs 2,000, within the first sixty days and others. Bank also intends to issue both the card variants through open market sourcing to salaried people subject to certain terms and conditions.

Launching the co-branded cards, P Jayarama Bhat, Managing Director and CEO of the Bank said, “we are happy to collaborate with SBICard to offer co-branded credit cards to our customers which is one of the long awaited & most sought after product, the introduction of which has added more flavor to Bank’s bouquet of tailor-made products & services. In today’s digital world, a Credit Card has become an indispensable part of our lives, with its ease of access to credit and convenient pay-back options. I urge all the eligible customers of the Bank to subscribe for co-branded credit card, which opens up a whole new world of comfort & esteem. We look forward for win-win situations under this partnership, with growing customer base and value addition to our existing clientele.”