SBI Cards jumps 4 per cent on commencement of festive sale

SBI Cards & Payment Services (SBI Card) today gained nearly 4 per cent intraday soon after the festive sale began. In line with the changing shopping trends, the consumers will be given discounts as well as cashback offers, across a host of brands.

The festive offers that started on October 1, 2020, will run till November 15, 2020. Further, to make festive purchases more reasonable, SBI Card customers can avail of EMI purchase facility at over 1.3 lakh stores.

Currently, the company offers discounts in the range of 5-10 per cent with various partners like Amazon, Brand Factory, Croma, Flipkart, Pantaloons, etc.

In addition to the national offers, SBI Card has also looked upon customers located in small towns and cities. For instance, the company has entered into a partnership with local regional brands for the upcoming festival of Navratri and Durga Puja. This will reward the customers with great savings via cashback offers.

SBI Cards & Payment Services is the second-largest credit card issuer in India and enjoys nearly 18 per cent market share, followed by HDFC Bank (market share of 27 per cent).