Citi, Royal Sundaram co-branded card unveiled

Citibank an Royal Sundaram Alliance Insurance Company today launched a co-branded credit card that will offer exclusive general insurance packages.

The Royal Sundaram Citibank credit card will offer Rs 50,000 worth of medical insurance free for the first year. It also offers 15 per cent discount at over 70 hospitals and clinics of the Apollo Hospitals group and further discounts on purchases made 300 Apollo pharmacies across the country.

The card also offers higher reward points programme. It will offer five rewards points per Rs 125 of Royal Sundaram Insurance premium billed to the card account, three rewards points per Rs 125 of spend on hospital, pharmacy and utility bill payments and one reward point per Rs 125 lf all other spends on the card.

The card also offers services such as auto renewal of policies, billing of insurance premium on the card in easy equated monthly installments, said T R Ramachandran, Business Manager-Cards, Citibank India.

Citibank is also a bancassurance part of Royal Sundaram, contributing almost 8 per cent of the general insurance company's premium income. Royal

Sundaram's premium income from the bancassurance channels accounts for 25 per cent of total premium.