LG and SBI Card launch co-branded credit card

MUMBAI: SBI Card and LG Electronics India Pvt Ltd. (LGEIL) have got together to launch the LG - SBI credit card.



The LG - SBI card is India’s first CO-branded credit card for the consumer appliances industry and can be used at more than 200,000 outlets in India and more than 30 million outlets around the world displaying the Visa logo. The LG - SBI card will leverage the extensive national distribution networks of both LG and SBI Card to drive penetration.



Designed as a customer loyalty and rewards program, the LG - SBI card combines all the well-known features of SBI card with a series of exclusive rewards, benefits and promotional offers from LGEIL for the CO-branded cardholder.

LGEIL markets one of the most sought after range of consumer electronics, home appliances, mobile phones and IT products. As leaders with a turnover of Rs 65 billion, LGEIL sold eight million products last year alone. This customer base is expected to increase to 30 million by the end of this year. The card is an attempt at understanding LG customers and offering more in products, service and offers as rewards for their association with the brand.



Announcing the launch, LGE president South West Asia and LGEIL managing director K R Kim said, "The LG - SBI card brings together two leading companies in their industries, both with a reputation for quality products, experience in providing superior customer service, and innovation. LG’s product leadership is driven by our cutting edge technology, design and functionality but our market leadership is the result of a relentless drive to make the experience of our customers an unrivalled one. Through the LG - SBI Card, we hope to get even closer to our customers and drive long-term relationships with them."

SBI Card CEO Roopam Astana said, "SBI card is always looking for innovative ways to add value and convenience to our cardholders. Developing new partnerships is a key part of our business strategy. LG, with its leadership position in the consumer appliances industry and its wide distribution network, was the natural choice to be our partner for this CO-branded card."

He added, "Our goal is to be the card of choice for today’s frequent shopper. The LG - SBI Card will introduce the benefits of SBI Card to a new and wider group of smart consumers who are looking to consolidate their spending and earn multiple benefits in return. LG SBI cardholders will enjoy the convenience and financial flexibility of this new CO-branded credit card, which not only allows them to buy now and pay later in parts, but also to aspire for higher-end products by taking advantage of the exclusive offers they will earn from LG."

On buying a product from LG, a consumer is eligible for this internationally valid CO-branded card -- absolutely free for the first year. The LG - SBI card comes packed with exclusive offers and fabulous deals from LG and SBI cards throughout the year. Some of the prominent features offered on the LG - SBI card include:

‘Flexi pay’ – an easy installment plan at one of the industry’s lowest rate of interest at 10 per cent.

‘Balance transfer’ facility at zero per cent interest for 75 days.

Free Purchase Protection against fire and theft upto Rs 15,000 for 90 days

Transaction fee waivers on IOC and IBP petrol pumps for fuel purchase of more than Rs 400

24 hour SBI card customer helpline in India and Visa Emergency Services in 75 countries.

SBI card adopts a long-term strategy to set industry benchmarks in customer service, supported with the use of state-of-the-art technology and the widest customer support and distribution network in the country. Its goal to expand the market for credit cards has been built on: speed unique 14-day average turnaround time, simplicity simple application process with minimum documentation and service 24x7 access to the SBI card helpline via a local call.

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