In a move set to redefine online fashion shopping in India, SBI Card has announced a strategic partnership with Myntra, one of the country’s leading fashion and lifestyle platforms.
The collaboration introduces the Myntra SBI Credit Card, designed to reward customers every time they shop for clothes, accessories, beauty products, and lifestyle essentials on the Myntra app or website.
This co-branded card targets India’s growing base of digital shoppers — especially millennials and Gen Z consumers who frequently purchase fashion online and expect rewards, convenience, and flexible payment options.
Why This Launch Matters
India’s online fashion market has grown exponentially, with Myntra being a leading player in the space. According to RedSeer, India’s fashion e-commerce sector is expected to touch $35 billion by 2025, driven by youth, urbanization, and increased online adoption.
SBI Card, one of the largest credit card issuers in India, aims to strengthen its presence among digital-first customers. This partnership with Myntra aligns perfectly with SBI Card’s strategy of creating specialized products for different lifestyle segments — travel, fuel, dining, and now, fashion.
With this launch, SBI Card has positioned itself at the intersection of fashion and finance, offering rewards that truly match the shopping behavior of India’s young and style-conscious generation.
Key Features of the Myntra SBI Credit Card
The Myntra SBI Credit Card is loaded with exclusive offers and lifestyle benefits. Let’s explore the main highlights:
1. Welcome Benefit Worth ₹1,000
New cardholders will receive ₹1,000 worth of Myntra vouchers as a welcome gift upon joining.
This offer can be redeemed across categories including apparel, footwear, accessories, and beauty — making it an instant value boost for new users.
2. Up to 10% Instant Discount on Myntra Purchases
Every time you shop on Myntra using this card, you can enjoy a 10% instant discount (capped per transaction).
This benefit is available throughout the year, including Myntra’s major sale events such as “End of Reason Sale” and “Big Fashion Festival.”
Example: If you shop for ₹5,000 on Myntra, you get ₹500 off immediately at checkout.
3. Reward Points on Every Spend
Beyond Myntra, this card also offers strong earning potential on other lifestyle spends:
- 10X reward points on Myntra purchases.
- 5X reward points on dining, entertainment, and online food delivery.
- 1 reward point per ₹100 on all other spends.
These points can be redeemed directly for Myntra vouchers or statement credit through the SBI Card portal.
4. Annual Fee and Renewal Waiver
For frequent Myntra shoppers, this means the card easily pays for itself through discounts and cashback.
5. Exclusive Access to Myntra Insider Program
Cardholders automatically become Myntra Insider Members, unlocking access to early sales, priority customer service, and extra savings on select brands.
This is particularly attractive to users who frequently shop for fashion and want early access to limited-edition collections.
6. Lifestyle Perks and Partner Offers
The Myntra SBI Card also extends lifestyle benefits beyond the Myntra platform:
- Complimentary 3-month OTT subscription (Zee5, SonyLIV, or Eros Now) for first-time users.
- Special dining offers via SBI Card’s “Culinary Treats” program.
- Movie discounts on BookMyShow once a month.
- Fuel surcharge waiver (1% on spends between ₹500 and ₹3,000).
7. Simple Redemption Process
Reward points earned through this card can be redeemed easily via:
- SBI Card App or Website, or
- Direct Myntra checkout for instant voucher redemption.
This means users can instantly use their points for future fashion purchases without complex steps or long wait times.
Eligibility Criteria
The Myntra SBI Credit Card has been designed for accessibility — especially for young professionals and online shoppers.
Eligibility Requirements:
- Age: 21–60 years for primary cardholders
- Income: Minimum ₹20,000/month (salaried)
- Credit Score: 700+ recommended
- Documents: PAN, Aadhaar, and income proof or salary statement
Application Process
Applying for the Myntra SBI Card is entirely digital:
- Visit the SBI Card website or Myntra app.
- Fill out the online application form with basic details.
- Complete video KYC and e-sign process.
- Receive instant approval and virtual card issuance.
The digital version of the card is usable for online purchases immediately after approval, even before the physical card arrives.
Comparison with Other Shopping Credit Cards
The Myntra SBI Card clearly focuses on fashion and lifestyle benefits, setting it apart from generic cashback cards.
Customer Experience and Digital Integration
SBI Card has integrated this new product deeply with Myntra’s ecosystem.
Customers can:
- View available offers directly in the Myntra app.
- Track savings and cashback automatically.
- Receive instant notifications for every transaction.
Myntra’s CMO, Harish Narayanan, commented:
“Our partnership with SBI Card brings unmatched value to our shoppers. We understand that fashion lovers expect instant gratification — this card delivers just that, through real-time discounts and exclusive privileges.”
Similarly, Rama Mohan Rao Amara, MD & CEO of SBI Card, stated:
“The Myntra SBI Card demonstrates our focus on creating segment-specific offerings. We’re combining SBI Card’s trust with Myntra’s reach to make rewards more relevant and personalized.”
Target Audience: The Fashion-First Generation
The Myntra SBI Card primarily targets:
- Millennials aged 25–35 who shop online frequently.
- Gen Z professionals making monthly lifestyle and beauty purchases.
- Women shoppers who prefer convenience and brand variety on Myntra.
By aligning rewards directly with these spending categories, the card appeals to an audience that values instant savings, digital access, and brand exclusivity.
Security & Digital Control
The card includes advanced digital safety tools such as:
- Instant card lock/unlock via SBI Card App.
- Real-time fraud alerts and OTP protection.
- Online control over domestic and international transactions.
- Integration with Visa PayWave for tap-and-pay convenience.
How the Myntra SBI Card Changes the Game
This launch represents a major shift in the way banks and e-commerce brands collaborate.
Rather than focusing purely on cashback, this partnership blends:
- Instant gratification (10% off)
- Loyalty rewards (Myntra Insider points)
- Lifestyle benefits (OTT, dining, entertainment)
The card essentially turns every shopping spree into a reward experience, encouraging repeat purchases while keeping customer engagement high.
Expert Insights
Financial analysts believe this co-branded card could set new trends in India’s retail finance segment.
“Fashion is now one of the top three online spending categories in India,” says Priya Dutta, Fintech Research Head at CreditVision India.
“By integrating Myntra’s ecosystem with SBI Card’s large customer base, both brands can leverage data-driven personalization to offer better discounts and experiences.”
She also notes that this model could soon expand to other verticals like healthcare, education, and travel, where co-branded credit cards could bring category-specific rewards.
SBI Card’s Strategy in the Lifestyle Segment
This partnership follows SBI Card’s ongoing expansion in the co-branded and lifestyle credit card category.
Recent launches include:
The Myntra collaboration adds a strong fashion and youth-focused dimension to this portfolio.