HDFC Bank, the largest player in credit card space in the country, on Wednesday launched a card exclusively for teachers.

The new credit card -- launched on the Teacher's Day -- offers special features such as multiple reward points, weekend bonanza points, petrol surcharge waiver and 500 teacher's day special gift reward points.

Explaining the rationale, the bank in a statement said education is one of the largest service sectors in the country with a combined market size of more than 450 million students and growth rates of 10-15 percent expected over the next decade.

The total market of education institutions is expected to increase to Rs 2.5 trillion by the end of the year, and the education sector will have attractive margins, it said.

HDFC Bank senior executive vice-president & business head for credit cards & merchant acquiring services Parag Rao said, "Like the doctor's credit card that we launched recently, the teachers' credit card is a token of appreciation towards lakhs of teachers who play a pivotal role in shaping the lives of millions of our children.

"Also, being the industry leader, we believe in providing diversified products to an extensive customer base," he said.