SBI Card and Flipkart Forge Strategic Alliance; Launch Flipkart SBI Co-Branded Credit Card

SBI Card, India’s largest pure-play credit card issuer, and Flipkart, India’s homegrown e-commerce marketplace, have announced the launch of the Flipkart SBI Credit Card, a co-branded offering tailored for digital-first consumers.

The card was formally launched in the presence of Challa Sreenivasulu Setty, Chairman, State Bank of India (SBI) and Ashwini Kumar Tewari, Managing Director, SBI, underscoring the significance of the partnership.

Designed to maximise value for customers shopping on Flipkart, Myntra, Shopsy, and Cleartrip, the card offers 7.5% cashback on Myntra spends and 5% cashback on Flipkart, Shopsy, and Cleartrip. It also provides 4% cashback on partner brands such as Zomato, Uber, Netmeds, and PVR, along with 1% unlimited cashback on all other eligible purchases.

To ensure a seamless experience, cashback is auto credited within two days of statement generation. Applications can be completed digitally via the Flipkart app, SBI Card SPRINT, or the SBI Card website.

Leadership Speak

Salila Pande, MD & CEO, SBI Card, said: “At SBI Card, we strive to create products that reflect evolving customer aspirations. With the rapid growth of e-commerce, the Flipkart SBI Card is designed to deliver a rewarding and seamless shopping experience.”

Kalyan Krishnamurthy, CEO, Flipkart Group, added: “This partnership reflects our commitment to democratizing access to formal credit. With solutions that deliver maximum value, we aim to empower millions of households across Bharat to fulfil their aspirations confidently.”

Key Features of the Flipkart SBI Card

Welcome Benefits (₹1,250 total):

• Flipkart e-gift card worth ₹250 on payment of joining fee

• Flipkart e-gift card worth ₹500 (first transaction within 30 days via Flipkart app)

• Cleartrip voucher worth ₹500 (first transaction within 30 days via Flipkart app)

Cashback Benefits:

• 7.5% on Myntra spends (up to ₹4,000/quarter)

• 5% on Flipkart, Shopsy & Cleartrip spends (up to ₹4,000/quarter each)

• 4% on Zomato, Uber, Netmeds & PVR (up to ₹4,000/quarter)

• 1% unlimited cashback on all other eligible spends

Other Benefits:

• Annual Fee: ₹500 + taxes (reversed on ₹3.5 lakh annual spends)

• Fuel Surcharge Waiver: 1% (up to ₹400 per statement cycle)

• Forex Markup: 3.5% on foreign transactions

• Payment Platforms: Mastercard & VISA contactless

Launch Offer

To mark the launch, Flipkart and SBI Card are rolling out a limited-period promotional offer—applicants stand a chance to win 10 Samsung Galaxy smartwatches and 100 Ambrane wireless power banks daily upon successful completion of their application via the Flipkart app.