What SBI Card does

SBI Cards and Payment Services Limited, founded in 1998 as a joint venture between State Bank of India and GE Capital, is India's largest pure-play credit card issuer and second-largest credit card company overall, with approximately 22.42 million cards in force as of May 2026. The company operates as a wholly-owned subsidiary of State Bank of India following GE Capital's exit in 2020 and has been publicly traded on NSE/BSE under the ticker SBICARD since its October 2020 IPO. SBI Card serves individual consumers and corporate clients through a product portfolio spanning premium cards (AURUM, PRIME, PRIME PRO, ELITE, Signature, PULSE, MILES), rewards cards (SimplySAVE, SimplyCLICK), cashback cards, and co-branded partnerships with PhonePe, Tata Neu, Air India/Vistara, Etihad, BPCL, IRCTC, and multiple regional banks; corporate offerings include Central Travel Cards, Utility Cards, Purchase Cards, and Virtual Corporate Cards.

Digital infrastructure is anchored on a mobile application for iOS and Android, the SBI Card Online web portal, the AI-powered chatbot ILA, and the Simply SMS service, all secured with 256-bit SSL encryption and PCI DSS compliance. Technology capabilities include tokenization for card-on-file payments through Google Pay and other wallets, contactless NFC payments, and RuPay credit card integration with UPI for QR code payments — a differentiator in the Indian market that has driven substantial penetration in Tier 2 and Tier 3 cities. The platform supports DigiLocker-based digital KYC, Flexipay EMI conversion, balance transfer, Encash cash advances, and integration with SBI's YONO banking app.

Revenue is generated across five streams: interest income on revolving credit balances (usage-based), annual and joining fees (subscription-based), merchant discount rate/interchange fees (transaction-based), late payment and overlimit penalties (transaction-based), and cross-sale of insurance products. Distribution relies on direct digital channels (sbicard.com and mobile app), State Bank of India's branch network for cross-selling, and affiliate partnerships with PhonePe, Tata Neu, and airline partners. Q4 FY26 total income reached Rs 5,187 crore with full-year FY26 revenue from operations of approximately Rs 19,899.63 crore, net profit of Rs 2,167 crore (+13% YoY), a balance sheet of Rs 66,328 crore, gross NPAs of 2.41% (down from 3.08%), and a 25.5% capital adequacy ratio.

Name

SBI Card

Legal name

SBI Cards and Payment Services Limited

Website

https://sbicard.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SBI Cards and Payment Services is India's largest pure-play credit card issuer with approximately 22.42 million cards in force, serving individual consumers and corporate clients through co-branded partnerships with PhonePe, Tata Neu, and major airlines.

Ownership category

akta.pro rank

Product category

Credit Card Issuance

NAICS

Credit Card Issuing (522210), Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

General-Purpose Credit Card Schemes (FSAMAAAA)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Cards Operations (Issuing/Acquiring Support, Disputes & Chargebacks) (FSABALAC)

Keywords

• Credit card issuance
• Consumer lending
• Payment services
• Co-branded cards
• Corporate cards

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Interest Income: Interest charged on outstanding credit card balances when customers revolve their credit. Revenue generated from the difference between interest rates charged to cardholders and the cost of funds. This represents the primary revenue stream for credit card issuers including SBI Card.
2. Annual and Joining Fees: Annual fees charged on credit cards for membership and various card variants. Some cards offer fee reversal based on annual spending thresholds. Card upgrade fees also contribute to this stream.
3. Merchant Discount Rate (MDR): Fee charged to merchants (typically 1-2% of transaction value) for accepting credit card payments. Also known as interchange fee or card transaction fee.
4. Late Payment and Overlimit Fees: Fees charged for late payments, exceeding credit limits, cash advances, and other service-related charges. Revised in May 2026 with new brackets for outstanding amounts.
5. Cross-sell and Insurance Products: Revenue from sale of insurance products (health, motor, travel, personal accident, cyber insurance) and add-on services to cardholders. Also includes balance transfer and EMI processing fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

SBI Card is India's largest pure-play credit card issuer, issuing a diversified portfolio of personal credit cards (premium, lifestyle, rewards, cashback, travel/fuel, shopping) and corporate credit cards (corporate, central travel, virtual) under its own brand and co-branded with partners such as PhonePe, Tata Neu, Air India, Etihad, BPCL, and IRCTC. The company earns from interest on revolving balances, annual/joining fees, late payment and over-limit charges, merchant discount rate (MDR/interchange) on transactions, and cross-sale of insurance and add-on services, delivered through a digital-first platform (mobile app, web portal, chatbot ILA, SMS, UPI-integrated RuPay credit cards) and State Bank of India's branch network.

Product overview

SBI Card operates as India's largest pure-play credit card issuer and second-largest credit card company overall, offering a comprehensive portfolio of credit card products under a multi-brand architecture. The core product lineup includes premium cards (AURUM, PRIME, PRIME PRO, ELITE, Signature, PULSE, MILES), rewards-focused cards (SimplySAVE, SimplyCLICK, Simply Save), cashback cards (Cashback SBI Card), and travel/fuel cards (BPCL SBI Card, IRCTC SBI Card). Co-branded partnerships extend the portfolio with airline-focused cards (Club Vistara SBI Card, Etihad Guest SBI Card), fintech partnerships (PhonePe SBI Credit Card, Tata Neu SBI Card), and retail partnerships (FABindia SBI Card, Titan SBI Card). Business offerings include Corporate Credit Cards, Central Travel Cards, and Virtual Corporate Cards. Digital infrastructure comprises the SBI Card Mobile App (iOS/Android), the SBI Card Online web portal, and Chatbot ILA for automated service. Value-added services include Flexipay EMI conversion, Balance Transfer facilities, and Encash cash advances. The company leverages State Bank of India's extensive customer base for cross-selling while maintaining RuPay and Visa network partnerships and UPI integration for digital payments.

Differentiator

Problem solved

Functional benefit

Brands

• PhonePe SBI Card: Co-branded credit card partnership with PhonePe offering 5% cashback on online transactions
• Tata Neu SBI Cards
• SBI Card PRIME
• SBI Card ELITE
• SBI Card PULSE
• SBI Card AURUM
• BPCL SBI Card
• IRCTC SBI Card

Products and services

• SBI Card AURUM Premium flagship credit card offering with exclusive privileges, enhanced reward rates, and premium lifestyle benefits; reward points on this card never expire.
• SBI Card PRIME Premium credit card with accelerated reward points on lifestyle, dining, and travel categories, complimentary airport lounge access, and milestone benefits, targeting high-spending customers.
• SBI Card ELITE Premium lifestyle credit card with complimentary Priority Pass membership, Club Vistara membership, accelerated reward points on international and domestic spends, and luxury brand partnerships.
• SBI Card PRIME PRO Premium credit card with enhanced benefits and privileges compared to the standard PRIME variant, targeting high-value customers.
• SBI Card PULSE Credit card designed for fitness enthusiasts offering rewards and benefits related to health and wellness spending, with complimentary Priority Pass membership.
• SBI Signature Card Premium credit card with exclusive privileges and benefits targeting affluent customers seeking comprehensive lifestyle and travel rewards.
• SimplySAVE SBI Card Credit card with accelerated reward points on dining, groceries, and movies, designed for everyday spending categories.
• SBI Simply Save Credit card offering consistent reward points on everyday spending categories with focus on simplicity and value for regular cardholders.
• SimplyCLICK SBI Card Credit card optimized for online shopping with accelerated reward points on e-commerce transactions and popular online brands.
• Cashback SBI Card Credit card offering flat cashback on transactions — 5% on online spends and 1% on offline Point of Sale transactions, with maximum cashback caps per statement cycle.
• BPCL SBI Card Fuel-focused co-branded credit card with Bharat Petroleum offering accelerated reward points on petroleum purchases at BPCL outlets and fuel surcharge waivers.
• IRCTC SBI Card Co-branded credit card with Indian Railways' IRCTC platform offering reward points on railway ticket bookings and train-related expenses, with surcharge waivers for frequent rail travelers.
• Club Vistara SBI Card Co-branded credit card with Vistara Airlines providing CV Points on all spends, complimentary flight upgrades, and tier status benefits for frequent flyers.
• Etihad Guest SBI Card Co-branded credit card with Etihad Airways offering Etihad Guest Miles on spending, companion ticket vouchers, and tier status upgrades for international travelers.
• PhonePe SBI Credit Card Digital-first co-branded credit card with PhonePe offering enhanced cashback and rewards on PhonePe transactions and online spends, available with zero joining fee for the first year.
• Tata Neu SBI Card Co-branded credit card with Tata Group's Neu platform allowing users to earn NeuCoins on transactions, with enhanced rewards on Tata brands and seamless integration with the Tata Neu ecosystem.
• Corporate Credit Cards Business credit cards for corporate entities enabling employee expense management, centralized billing, and customized spending controls with detailed reporting.
• Central Travel Cards Specialized corporate travel cards for managing business travel expenses with features for booking, tracking, and reconciling travel spending.
• Virtual Corporate Cards Digital-only corporate card solutions for online transactions and secure virtual card numbers for business payments.
• Flexipay EMI EMI conversion facility allowing cardholders to convert large purchases into easy monthly installments with flexible tenure options.
• Balance Transfer Credit card debt transfer facility enabling customers to move outstanding balances from other credit cards to SBI Card at potentially lower interest rates.
• Encash Cash advance facility allowing cardholders to withdraw cash against their credit card limit with competitive interest rates.
• SBI Card Mobile App Mobile application for iOS and Android enabling card management, payments, rewards redemption, transaction monitoring, and customer service through chatbot ILA.
• SBI Card Online Web-based account management portal providing 24/7 access to card statements, transaction history, rewards redemption, service requests, and account settings with 256-bit SSL encryption.

Quantifiable outcome

• 31% year-on-year growth in card spends to Rs 1,15,350 crore in Q4 FY26
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability3 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• PhonePecoreChannel Partner/ Reseller/ DistributorPhonePe SBI Credit Card PURPLE and SELECT BLACK co-branded credit cards distributed exclusively through PhonePe's digital platform. Cards offer tiered rewards including 5% cashback on all online transactions, 10% on PhonePe categories (recharges, bill payments), and 1% on RuPay Scan n Pay. Zero joining fee promotional offers available periodically. Effective July 2026, reward point caps revised with monthly limits on PhonePe and online spends, and new exclusions for categories including toll payments, jewellery, education, utilities, insurance, and UPI transactions outside PhonePe app.
• Tata NeucoreChannel Partner/ Reseller/ DistributorTata Neu SBI Credit Card co-branded card offering NeuCoins earning on spending, integrated with Tata Neu ecosystem for shopping, travel, and other services. Cardholders earn accelerated rewards on Tata Neu partner transactions. Partnership extends SBI Card's reach into the Tata Group's digital commerce ecosystem.
• Air India / VistaracoreChannel Partner/ Reseller/ DistributorClub Vistara SBI Card and Club Vistara SBI Card PRIME co-branded cards offering CV Points on spending, complimentary Club Vistara Silver membership, free tickets on card issuance, milestone benefits, and one class upgrade vouchers. Cardholders earn CV Points redeemable on Vistara flights and partner airlines (Singapore Airlines, SilkAir).
• Etihad AirwayscoreChannel Partner/ Reseller/ DistributorEtihad Guest SBI Card and Etihad Guest SBI Premier Cards offering Etihad Guest Miles on spending, tier status upgrades, and companion ticket vouchers. Miles redeemable across Etihad and 20+ partner airlines, hotel bookings, and retail merchandise.
• BPCL (Bharat Petroleum)majorChannel Partner/ Reseller/ DistributorBPCL SBI Card and BPCL SBI Card OCTANE offering accelerated reward points on fuel purchases at BPCL outlets. Annual fee reversal upon reaching Rs 1 lakh annual spend (increased to Rs 2 lakh from May 2026). Fuel surcharge waivers and accelerated rewards for fuel-focused consumers.
• IRCTC (Indian Railways)majorChannel Partner/ Reseller/ DistributorIRCTC SBI Platinum Card and IRCTC SBI RuPay Card offering accelerated rewards on railway ticket bookings through IRCTC website and app. Designed for frequent rail travelers with surcharge waivers and rewards on train ticket purchases.
• South Indian Bank, Karnataka Bank, KVB, Federal Bank, and other regional banksminorChannel Partner/ Reseller/ DistributorCo-branded credit cards with multiple regional banking partners allowing these banks to offer credit cards to their customer base. Each partner bank has specific card variants with customized reward structures aligned with the bank's customer profile.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationRuPay credit card integration with UPI ecosystem enabling QR code payments using credit cards. Supports EMI on UPI functionality allowing credit card holders to pay merchants via UPI using credit. Partnership enables SBI Card to participate in India's dominant digital payment infrastructure.
• Visa and MastercardcoreTechnology or IntegrationPayment network partnerships for card processing, international transactions, and acceptance infrastructure. SBI Card issues cards on both Visa and Mastercard networks alongside RuPay for domestic payments and UPI integration.
• Priority PasscoreGTM or Marketing PartnerComplimentary Priority Pass membership (USD 99 value) offered to premium cardholders including SBI Card Elite, SBI Card PRIME, SBI Card PULSE, and select co-branded cards. Provides access to airport lounges globally with 6 complimentary visits per year for Elite cardholders.
• Trident HotelsminorGTM or Marketing PartnerTrident Privilege membership offered to SBI Card Elite and SBI Card PRIME holders. Complimentary Red Tier membership with welcome bonus points, hotel credits, and exclusive booking benefits. Redemption available across all Trident hotels in India.
• Integro FinservminorOthersMumbai-based NBFC that acquired a stressed credit card debt pool worth approximately Rs 1,800 crore from SBI Cards in April 2026. Part of SBI Card's strategy to control increasing delinquencies and manage asset quality. Transaction represents one of the largest bad loan sales by the company in four years.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Axis Bank Credit Cards: Axis Bank is a major Indian credit card issuer with strong premium card offerings (Atlas, Magnus, Reserve). Direct competitor to SBI Card with aggressive rewards positioning targeting high-spending customers in metros and tier-1 cities.
• HDFC Bank Credit Cards: HDFC Bank is India's largest credit card issuer with approximately 22% market share by cards in force, leading the industry. Direct competitor to SBI Card across consumer and corporate card segments, with stronger position in affluent/premium customer segments.
• Kotak Mahindra Bank Credit Cards: Kotak Mahindra Bank has been growing its credit card portfolio aggressively with the 811 digital platform. Competes with SBI Card in the mass-affluent segment and is gaining share through digital-first customer acquisition strategies.
• ICICI Bank Credit Cards: ICICI Bank is a top-3 Indian credit card issuer with significant market share, offering similar personal and corporate credit card products. Competes directly with SBI Card across mass-market and premium segments with strong digital capabilities through iMobile Pay.
• American Express India: American Express operates as a card issuer in India targeting premium and super-premium customer segments. Direct competitor in the high-end card market where SBI Card offers AURUM and PRIME variants, with stronger brand positioning among affluent travelers.

Emerging players

• IDFC FIRST Bank Credit Cards: IDFC FIRST Bank is a relatively newer credit card issuer in India with growing market share, focused on lifetime-free cards and rewards-rich products. Competes with SBI Card in the digital-first customer segment with lower-cost acquisition models.
• AU Small Finance Bank Credit Cards: AU Small Finance Bank has been expanding its credit card portfolio targeting middle India. Emerging competitor to SBI Card in tier-2/3 city expansion with growing card portfolio and digital-first approach.
• OneCard (FPL Technologies): OneCard is a new-age Indian fintech issuing metal credit cards through mobile-first platform with strong customer experience focus. Emerging competitor targeting millennials and digital-native customers, competing for the same customer cohort as SBI Card's SimplyCLICK and Cashback variants.

Broad incumbents

• HSBC India Credit Cards: HSBC India offers premium credit cards targeting affluent and international customers. Competes with SBI Card in the premium segment but operates as part of a global banking franchise with different risk-return profile and customer base.
• Citibank India Credit Cards: Citibank India operates as a global bank offering credit cards primarily to affluent and corporate customers. Competes with SBI Card in the premium and corporate card segments with stronger international acceptance positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SBICard_Connect
• YouTubeyoutube.com/sbi-card
• Facebookfacebook.com/sbicardy
• LinkedInlinkedin.com/company/t
• Instagraminstagram.com/sbicard_connect

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBI Card