State Bank Of India

SBI Cards, the third largest credit card issuer in the country and a joint venture between State Bank of India (SBI) and GE of the US has launched a 'signature' card targeted at the high net-worth individuals. This product is in line with the company’s plan to expand its presence in the premium customer segment.

The 'signature' card is available at an annual fee of Rs 5,000. Upon enrolment, the card holders will be entitled to a full fare airline ticket or gift vouchers worth Rs 5,000 from leading lifestyle brands.

The 'signature' card comes with a distinct value proposition and is another product innovation from the company. Besides, HDFC Bank and ICICI Bank are already offerings in niche segment but are by invitation only.