The tie-up is aimed at providing an exclusive services to the customers. The credit is launched in two variants, platinum and gold.
The platinum, available at an annual fee of Rs 2,999, comes with an advantage gaining 10 cash points for every Rs 100 spent on dining, departmental stores and international spends that amount to 2.5 per cent value back.
Commenting on the development, A S Bhattacharya, CMD, Bank of Maharashtra, said, "This strategic tie-up with SBI Card, gives us the perfect platform to create a new benchmark in the credit card industry.
The SBI and Bank of Maharashtra Card gives us an opportunity to provide unmatched value to the customers by expanding our service offerings to them, with an assurance of convenience, comfort and credibility. We are sure that this partnership will herald a new chapter in the Banking and Credit Card business".
Speaking on the occasion, Diwakar Gupta, managing director and CFO, State Bank of India opined that the tie- up would only help BoM to expand its services, enable SBI to achieve an enhanced and powerful value proposition to the SBI-Bank of Maharashtra Cardholders.
He further added, “We are confident that with SBI Card's expertise in innovative product solutions with both secured and unsecured cards and the large client base of Bank of Maharashtra, we would be able to establish a large and satisfied cardholder base of SBI Bank of Maharashtra Credit Cards in India."