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Federal Bank launches credit card

64Federal Bank has forged a partnership with SBI Card to launch a co-branded credit card. In the first year, it proposes to issue 1.5 lakh cards to its customers. There will be two variants – Platinum and Gold’ N More – and these will be issued under the Visa platform for a specified fee. This is for the first time that the bank is entering the credit card segment and the alliance with SBI Card will help fill a striking gap that existed in the product portfolio, said Shyam Srinivasan, MD and CEO of the bank. The Federal Bank-SBI Credit Card will help complete the bouquet of offerings we have for all of our clients’ retail needs. It meets the longstanding demand of the bank’s customers to hold a Federal Bank credit card, he added. Vijay Jasuja, CEO, SBI Card, expressed confidence that the new co-branded card will add value to the customers of Federal Bank.

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