Bank of Maharashtra signs MoU with SBI Cards for co-branded credit cards
This story was originally published at 22:32 IST on 18 June 2025
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NEW DELHI – Bank of Maharashtra has signed a memorandum of understanding with SBI Cards to launch co-branded credit cards, which are customised to meet the evolving financial and lifestyle needs of its customers, the bank said in a press release Wednesday.
"This collaboration aims to enhance customer value by combining Bank's extensive banking network and trusted customer relationships with SBI Card's industry-leading credit card expertise, digital capabilities, and diverse product suite," it said.
Under this collaboration, Bank of Maharashtra's customers will be able to access a range of co-branded credit cards, designed with attractive features including reward points, cashback offers, fuel surcharge waivers, equated monthly installment facilities, and exclusive merchant discounts across key spending categories like dining, travel, and e-commerce, the release said.
"This co-branded card partnership with SBI Cards marks a significant step in enhancing our retail product portfolio and delivering greater value to our customers. It reflects our commitment to offering modern, convenient, and rewarding financial solutions through trusted alliances," Nidhu Saxena, managing director and chief executive officer at Bank of Maharashtra said.
The co-branded credit cards will be made available to eligible bank customers across the country through both online and branch-based application channels, the public-sector lender said.
On Wednesday, shares of Bank of Maharashtra closed 0.1% higher at INR 54.48, while those of SBI Cards and Payment Services Ltd. ended 1.9% lower at INR 972.60. End
Reported by Pratiksha
Edited by Deepshikha Bhardwaj
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