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Sbi Card Market Analysis

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SBI Card ELITE: Overview
State Bank of India is the largest public sector bank in the country. It has its branches spread across India and around the world. It offers a variety of financial solutions. Among its debt offerings, the bank provides personal loans, care loans, education loans, housing loans and business loans for retail users. State Bank of India is also one the leading banks in the market when it comes to offering credit cards.

SBI offers a range of cards from the standard silver and gold cards to premium platinum and signature cards. The bank also offers a card known as SBI Card ELITE that is specifically designed for high-end users. This card provides many benefits in the form of gift vouchers and coupons that can be availed …show more content…

This makes it easy for the cardholders to repay the amount. The card also follows the concept of reward points whereby customers are rewarded every time they use their card. This makes every card transaction count. When the reward points reach a set limit, they can be spent on gifts and vouchers.

The high-end market remains a very lucrative and untapped market. This market is set to expand as people slowly and steadily move up the financial ladder. SBI wishes to tap into this market and has, therefore, come up with SBI Card ELITE for its high-value customers. This card has all the luxuries and benefits that a high-end user would want. Facilities such as spas, golf, clothing, entertainment, fine dining, etc. can be enjoyed at considerable discounts.

It must also be highlighted that to avail this card, the applicant must have the requisite spending habits and income to sustain the card. SBI understands this and checks all the necessary documents before approving an application for this card. If the applicant fulfils all the necessary requirements, then they are eligible to get an SBI Card ELITE. Let us take a look at the card in some detail in this …show more content…

The cover is given up to Rs. 1 lakh and is liable from the period of 48 hours prior to reporting of loss of the card to up to 7 days after such reporting.

• Add-On Cards: The primary SBI Card ELITE cardholder can add any member of their family to the credit account. The only condition is that the add-on cardholder is over 18 years of age.

• Balance Transfer: SBI Card ELITE allows users to transfer their balance on other cards to the ELITE card, and avail a repayment facility at lower rates of interest.

• Easy Money: SBI offers its SBI Card ELITE customers the option to get a demand draft or a cheque against your cash limit right at their doorstep. The cardholder has to login to their account at sbicard.com to book the facility.

SBI Card ELITE: Benefits
SBI offers a range of benefits for cardholders of SBI Card ELITE. Here is a look at of them:

• Welcome Gift: Customers get a welcome gift worth Rs. 5,000. This gift is in the form of gift coupons and vouchers that can be used at prominent brands such as Yatra, Hush Puppies, Marks & Spencer, Westside and Shopper’s

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