Exciting news for those looking for tailored credit card solutions! RBL Bank and Mahindra Finance are partnering to introduce a co-branded credit card, designed to address both everyday and aspirational needs. Here’s a breakdown of what you need to know:
1. RBI Approval Granted
- Mahindra Finance has secured the Reserve Bank of India’s approval to launch this co-branded card, marking its entry into the credit card market.
- This will be Mahindra Finance’s first-ever co-branded credit card offering!
2. Target Audience
- Designed to cater to Mahindra Finance’s diverse customer base, the card will focus on e-commerce adoption and tech-savvy users in both metro and non-metro areas.
- This card is positioned to support aspirational spending, with benefits covering a broad range of categories.
3. Strategic Partnership
- Mahindra Finance holds a 3.53% strategic stake in RBL Bank, acquired for ₹417 crore.
- This card is part of RBL Bank’s strategy to diversify beyond its reliance on Bajaj Finance for credit card distribution.
4. Unique Benefits to be Announced
- The co-branded card promises unique benefits across diverse categories, aiming to serve as a one-stop solution for cardholders.
- Stay tuned for upcoming details on rewards, cashback, and exclusive perks!
5. Tapping into E-commerce and Technological Growth
- This partnership is focused on riding the wave of digital and e-commerce adoption, even in Tier-2 and Tier-3 cities.
Keep an eye out for more updates on this offering and discover how it can enhance your spending experience across lifestyle and e-commerce purchases!