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
Avoid withdrawing cash from your credit card
Privileged banking: make the customer feel...
Cash-Back offer at Corporation Bank this...
Factors affecting car insurance premium
Some New Ways to Save on Your Car...


59032130480
59032130480
want to see the statement of July-2014
I wants credit card facility from hdfc bank .Applied...
i want to know my balance my account no...
how to change my postal address of icici bank credit...

NEWS THIS WEEK
Govt. planning to come up with another women special bank Jul 31, 2014
Axis Bank launched MyIdeaOfProgress.com Jul 30, 2014
Technology based products rolled out by Canara Bank Jul 28, 2014
New Mobility program of ING vysya Bank Jul 25, 2014
New credit cum debit card unveiled by HPSCB bank Jul 24, 2014
News Archive