Samsung launches credit card service in India and can get cash back when purchasing smartphones / computers / televisions.

CTOnews.com Sept. 26, Samsung India announced the launch of a credit card in partnership with Axis Bank. The company offers 10 per cent cash back on purchases, as well as other benefits, such as bonus points to financial institutions, airport lounge access and a 1 per cent fuel surcharge reduction.

The service is divided into royal card (Signature) and unlimited card (infinite). The former has a monthly cash return limit of 2500 Indian rupees (about 220.25 yuan) or 10000 Indian rupees (about 1762 yuan) per year. The latter is set at 5000 Indian rupees (about 440.5 yuan) per month and 20000 Indian rupees (about 1762 yuan) per year. CTOnews.com learned that the deal applies to all Samsung products-smartphones and smart wearables, laptops, televisions, refrigerators, washing machines, microwave ovens and other appliances.

There is no minimum transaction amount and restrictions for Samsung to buy. It takes up to 60 days for cash back points to be displayed in the user's profile and is only applicable to selected channels.

According to the CEO of Axis Bank, the goal of the new product is to surpass the top 10 cities and infiltrate into second-and third-tier cities. 3/4 of Indians buy at least one electronic device, spending about 40000 Indian rupees (3524 yuan) a year, according to an Visa executive.

Applications for Samsung Axis credit cards will soon be available on the dedicated page of Samsung India's website.