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
Some quick facts about CIBIL report
Factors affecting car insurance premium
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs #5
Handle your credit card with Care


【 इश्क प्यार 】Online Girl...
【इंटरनेशनल POWER】Online Love...
Tantra Mantra Black Magic【+91-9828939517...
GUESS@~09975029953~@ Call GiRl In PaTiAlA EsCoRts In...
GUESS@~09975029953~@ Call GiRl In PaTiAlA EsCoRts In...
GUESS@~09975029953~@ Call GiRl In PaTiAlA EsCoRts In...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive