SBI launches cards for high net individuals

SBI Cards launched a 'signature' card targeted at the high net-worth individuals.

"SBI Signature Card is another product innovation from our side and comes with a distinct value proposition.

This product is in line with our plan to expand our presence in the premium customer segment," said SBI Cards and Payment Services CEO Kadambi Narahari.

The SBI Signature Card is available at an annual fee of Rs 5,000. The card holders will also be entitled to a full fare airline ticket or gift vouchers worth Rs 5,000 from leading lifestyle brands upon enrolment.

The card company is a joint venture between State Bank of India and GE of the US and already has a presence in 50 cities.