SBI Cards and Payment Services Limited has informed the Exchange regarding a press release dated April 16, 2025, titled "SBI Card and Tata Digital Partner to Launch Tata Neu SBI Card".
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SBI Card has partnered with Tata Digital to launch the Tata Neu SBI Card, a co-branded credit card offered in two variants: Tata Neu Infinity SBI Card (annual fee ~₹1,499) and Tata Neu Plus SBI Card (annual fee ~₹499). Both variants are available on RuPay and Visa platforms. Cardholders earn NeuCoins on spends, with up to 10% rewards on the Infinity variant and up to 7% on the Plus variant, redeemable on the Tata Neu app across groceries, travel, fashion, electronics and pharmacy. The card also offers benefits such as UPI rewards, airport lounge access, fuel surcharge waiver, and annual fee reversal on achieving spend thresholds. SBI Card, India's largest pure-play credit card issuer, has over 20 million cards in force as of December 2024.
This strategic tie-up with Tata Digital is expected to drive incremental card acquisitions and spending volumes for SBI Card by tapping into Tata Neu's large consumer ecosystem, potentially boosting future revenue and card portfolio growth for shareholders.