Equitas Small Finance Bank ties up with HDFC Bank
Srinagar: Equitas Small Finance Bank Limited Tuesday announced its partnership with HDFC Bank for the launch of its new co-branded credit cards. The credit cards will be available for Equitas Small Finance Bank’s customers, with an aim to provide them with the best facilities of the banking ecosystem.
The credit card can be availed in two categories. The first category is the ‘Excite Credit Card’ which offers a credit limit from Rs 25,000 to Rs 2,00,000 and the second category is the ‘Elegance Credit Card’ which offers credit of over Rs 2,00,000.
Both the categories offer immensely valuable rewards programs for all customers. The ‘Elegance Credit Card’ rolls out two reward points for every Rs 150 spent, 2X reward points on flight and hotel expenses and 5X reward points on grocery, supermarket and department stores. One can gain 1500 bonus reward points on reaching a monthly milestone greater than Rs 50,000 and collect 10000 bonus reward points for an annual spend greater than Rs 5 Lakhs. The card also offers a joining fee waiver if one spends over Rs 50,000 within 90 days.
Similarly, the ‘Excite Credit Card’ also has a host of great benefits, with its core rewards program offering 2 reward point for every Rs 150 spent and 3X reward points on fuel and grocery expenses. One can earn 500 bonus reward points upon spending more than Rs 20,000 a month and 2500 bonus reward points on an annual spending of more than Rs 1,80,000. It also has an annual fee waiver upon a spend of over Rs 1,00,000. The card also offers a joining fee waiver if one spends over Rs 20,000 within 90 days.
Commenting on the launch, Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank said, “As India’s largest card issuing and acquiring bank we are committed to accelerating the adoption of digitization in the country by engaging with all players in the banking and payments ecosystem. This first-of-its-kind partnership for HDFC Bank will enable us to extend our best-in-class offerings in the cards segment to Equitas Small Finance Bank’s customers and provide them with a highly rewarding credit card experience. We are delighted to partner with a market leader in new-age banking as part of our broader strategy of coming back with a bang.’’
Speaking on the occasion, Murali Vaidyanathan, Senior President and Country Head – Branch Banking – Liabilities, Products & Wealth – Equitas Small Finance Bank Limited, said: “As a new-age bank in one of the fastest growing economies, our partnership with HDFC Bank is a testimony to our commitment towards providing our prized customers with best-in-class bouquet of products and services.
Equitas Bank recently rolled out the ASBA feature on its mobile app for all customers with a DEMAT account to ensure trading anywhere & anytime.