NEWS & ADVICE : CREDIT CARDS
DCB's new offer: Credit card now linked to FD
By Ankit Sharma
Oct 17, 2011
Print    Email    RSS   

Private sector lender Development Credit Bank has come up with a new credit card which allows benefits of credit as well as returns of fixed deposit.

Its new offering, the DCB PayLess credit card is linked to a fixed deposit account thereby bringing dual benefits to the customer.

According to Mr Abhijit Bose, Group Senior Vice-President and Head - Retail, MSME Assets and Cards business, Development Credit Bank, "We are launching this card primarily for the micro, small and medium entrepreneurs (MSME) segment, but even housewives, self-employed, and so on, can avail themselves of this product."

The eligibility criteria for the card requires the customer to set up a fixed deposit account of atleast Rs 25000 value.

Bose added that, "If they place a deposit with the bank, 90 per cent credit is loaded on the card."

The card would have a repayment period between 15-45 days. Interest rate applicable will be 24%.

Penalty for late payment would be Rs 100.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
A general guide to Auto Insurance
Make more out of your credit card with...
Carnival of Indian Personal Finance Blogs #6
Credit Report: A Key Financial Indicator
An insight into two wheeler insurance


marriage love problem solution astrologer +91...
!! हेमंत बाबा !! +91-7726894443...
love marriage love back specialist molvi +91 7791976204
what is balance62249254677
kala jadu love vashikaran +919828568902 black...
i want to know my credit card due amount

NEWS THIS WEEK
Banks to launch the contactless cards soon Nov 20, 2014
SBH bank rolled out e-connect facility Nov 18, 2014
Report on Deposit and credit growth of the banks Nov 17, 2014
New co branded credit card rolled out by American express Nov 14, 2014
Banking strike hampered many operations across the country Nov 13, 2014
News Archive