Bank of Maharashtra has entered into a strategic partnership with SBI Card, India’s largest standalone credit card issuer, to launch a new suite of co-branded credit cards aimed at enhancing the financial flexibility and lifestyle benefits available to its customers. The collaboration was formalized through a Memorandum of Understanding signed in Pune on June 18, 2025, and marks a significant expansion of the bank’s retail product portfolio.
The co-branded credit cards will be available nationwide and are designed to offer a compelling mix of features including reward points, cashback, fuel surcharge waivers, EMI conversion options, and exclusive discounts across high-spend categories such as dining, travel, and e-commerce. Customers will be able to apply for the cards through both digital and in-branch channels, ensuring broad accessibility and a seamless onboarding experience.
Bank of Maharashtra CEO Nidhu Saxena described the partnership as a milestone in the bank’s mission to deliver modern, convenient, and rewarding financial solutions. “This co-branded card partnership with SBI Card marks a significant step in enhancing our retail product portfolio and delivering greater value to our customers,” Saxena said. “It reflects our commitment to offering modern, convenient, and rewarding financial solutions through trusted alliances.”
The partnership leverages Bank of Maharashtra’s extensive customer base and nationwide branch network with SBI Card’s digital infrastructure, analytics capabilities, and experience in managing a diverse credit card portfolio. The cards are expected to appeal to a wide range of customers, from first-time credit users to seasoned cardholders seeking premium benefits.
This initiative comes at a time when India’s credit card market is witnessing rapid growth, driven by rising consumer spending, digital adoption, and demand for flexible payment options. By combining their respective strengths, Bank of Maharashtra and SBI Card aim to capture a larger share of this expanding market while reinforcing customer loyalty through value-added services.
The launch also aligns with broader trends in India’s banking sector, where public sector banks are increasingly partnering with fintech and private players to offer integrated, tech-enabled financial products. The co-branded cards are expected to contribute to both institutions’ strategic goals of deepening customer engagement and expanding their footprint in the competitive retail finance space.
Further details on card variants, eligibility, and benefits are expected to be released in the coming weeks. The cards will be issued under the SBI Card platform and integrated into its existing rewards and customer service ecosystem.
