SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated May 15, 2025, titled "SBI Card Partners Apollo HealthCo; Introduces Apollo SBI Card SELECT Card".
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SBI Card has partnered with Apollo HealthCo to launch the 'Apollo SBI Card SELECT', a premium co-branded credit card focused on health and wellness. The card offers up to 25% value back on purchases at Apollo 24/7 app and Apollo Pharmacy stores, combining 10% reward points with up to 15% in health credits. It carries a joining/annual fee of ₹1,499 plus taxes and is available on both RuPay and MasterCard platforms. Key benefits include a ₹1,500 e-gift voucher as welcome benefit, complimentary 1-year FITPASS PRO membership, international and domestic airport lounge access, free health check-ups, and a Noise smartwatch on milestone spends. SBI Card's base stands at over 20 million cards in force as of March 2025.
This partnership expands SBI Card's co-branded portfolio into the health and wellness segment, leveraging Apollo HealthCo's massive reach of 37 million registered users and 6,500+ pharmacy stores for customer acquisition. The product diversification is a positive growth signal, though no financial impact (revenue contribution, card acquisition targets) has been disclosed in this announcement.