Fed Bank and SBI to come out with co-branded card

One of India's leading credit card issuer, SBI, announced their collaboration to launch Federal Bank-SBI co-branded credit cards today. Through this alliance Federal Bank will launch two new variants of Visa credit cards for its customers, namely Platinum and Gold 'N More.

Shyam Srinivasan MD and CEO, Federal Bank said that the card meets the longstanding demand of the customers of the bank. 'We will continuously strive to keep this premium offering of ours relevant and yet contemporary by constantly adding compelling add-ons to it, he said.

The Platinum variant will offer a credit limit up to Rs. 5 Lakh and the Gold variant upto Rs. 1.75 Lakh. Distribution of the cards is planned in two phases, in the first phase the card will be available at select branches of Federal Bank and more branches will be added in the second phase.

The new card will offer exclusive benefits to customers, especially for fuel payments, dining etc. The credit cards will be chip-based cards providing a high level of security to the cardholders.