SBI Card and Eternal Limited, formerly known as Zomato Limited, have announced the launch of a new co-branded credit card designed to enhance savings for consumers during the festive season and beyond. Unveiled on October 15, the 'Eternal SBI Card' offers a comprehensive suite of benefits, including instant discounts on popular platforms and cashback on various everyday services.
Key Benefits of the Eternal SBI Card
The new card aims to provide significant value across a range of spending categories, from food delivery and quick commerce to entertainment and travel.
Instant Discounts and Entertainment
- Zomato, District, and Bistro: Cardholders receive a 10% instant discount on eligible transactions across these platforms.
- Blinkit: A 10% discount is available on electronics and beauty products, while other categories qualify for a 5% discount. Exclusions apply to items like tobacco, infant food, and precious-metal jewellery.
- Monthly Discount Limit: A combined monthly discount cap of ₹2,000 applies across Zomato, Blinkit, District, and Bistro.
- Movie Tickets: Enjoy a 1+1 movie ticket offer through District each month, with the discount on the second ticket capped at ₹200.
Cashback on Essential Services
- Uber, ixigo, Urban Company, and Apollo 24|7: The card provides a 5% cashback on eligible spending with these partners, capped at ₹1,000 per month.
- Other Purchases: A 1% cashback, up to ₹500 monthly, is available on other eligible transactions.
Joining Fees and Additional Perks
The Eternal SBI Card comes with a joining fee of ₹499, which includes a complimentary six-month Zomato Gold membership. The annual fee can be waived if the cardholder spends ₹2 lakh in the preceding year. Additionally, cardholders benefit from a 1% fuel surcharge waiver, up to ₹200 per statement cycle.
Salila Pande, Managing Director and CEO of SBI Card, highlighted that the product was crafted to meet customers' daily spending requirements, offering compelling cashback benefits and convenience across diverse categories. Akshant Goyal, Chief Financial Officer of Eternal, emphasized the card's goal to maximize value from frequent transactions across Zomato, Blinkit, and District, while also extending benefits beyond these core platforms.
“The product was designed around customers' everyday spending needs, bringing together compelling cashback benefits, convenience, and value across a wide range of categories,” said Salila Pande, MD & CEO of SBI Card.
Customers interested in early access can request it through the Zomato, Blinkit, and District apps, with application invitations expected to roll out in phases starting October 22.