New Products
Indian Lender Launches Exclusive Card For The Super Rich

ICICI Bank, the Indian private lender, has unveiled a new credit card offering exclusive for the ultra-rich.
ICICI Bank Sapphiro, the card, is the bank's third under the Gemstone Collection, which targets wealth management clients and the super affluent market segment. The previous two are ICICI Bank Coral and ICICI Bank Rubyx.
Members of Sapphiro will receive two cards: the ICICI Bank Sapphiro Platinum American Express Credit Card and the ICICI Bank Sapphiro Platinum Chip MasterCard Credit Card. Both are linked to a single card account with a single statement and fee. Privileges offered include exclusive access to some of the best hotels, airline perks, members-only events and other luxury premiums.
The launch of super premium credit cards addresses the increasing demand for high-end products and services in India, what with the country's also expanding affluent population. According to the latest Wealth-X report on India's rich, the South Asian country is home to at least 8,200 ultra high net worth individuals whose combined wealth reaches $945 billion.