Financial Daily from THE HINDU group of publications
Thursday, Mar 09, 2006


Group Sites

Money & Banking - Credit Cards & Debit Cards
Industry & Economy - Gender
Marketing - New Products & Services

HDFC Bank eyes 50 pc rise in cards

Our Bureau

Launches 2 cards exclusively for women

EXCLUSIVE CARDS: Ms Mandeep Maitra, Country Head-Human Resources, HDFC Bank; Mr Parlay Mondal, Head-Credit Cards; Mr Uttam Nayak, Deputy Country Manager-South Asia, Visa International, at a function in Mumbai on Wednesday. — Paul Noronha

Mumbai , March 8

HDFC Bank is targeting 50 per cent incremental growth in its credit card base next year.

The bank currently has about two million credit card customers and hopes to increase this to three million, said Mr Pralay Mondal, Head - Credit Cards.

Focus on smaller cities

The bank is focusing on smaller cities for expanding its card base. Currently, about 20 per cent of the credit cards are issued to customers from C-category cities, Mr Mondal said.

He was speaking at the press conference to launch two new card products, exclusively for women - Woman's Advantage Debit Card and International Women's Gold Visa Credit Card.

The credit card has a one-time cost of Rs 2,000 for non-HDFC Bank customers and Rs 1,500 for the bank customers. The features include five per cent cash back at select department stores, grocery shops and supermarkets, up to 15 per cent discount at select outlets such as Lakme beauty salons, Kaya Skin Clinic, Oyzterbay, Satya Paul, and others.

Reward points

Cardholders can earn up to five reward points for each Rs 100, if they spend above Rs 5,000 in a month.

The debit card offers four per cent discount on purchase of the bank's gold bars, 50 per cent discount on locker fees for the first year and concierge services. The card also offers medical check up packages and nursing care arrangement in Mumbai, Delhi and Bangalore.

Retail products

Among other retail products, HDFC Bank is looking at increase its personal loans by 100 per cent in 2006-07, Mr Mondal said.

The bank is also exploring to offer retail silver coins, similar to its retail gold coins product, said an official of the bank.

More Stories on : Credit Cards & Debit Cards | Gender | New Products & Services | HDFC Bank Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Centurion Bank of Punjab to raise Rs 250 cr

Internationalism on the mend
High cost of actuaries worries IRDA
Service tax on ATM not to hit users
LifeLink Super from ICICI PruLife
Bajaj Allianz to go rural
Federal Bank launches `Fedjeevan'
AP Genco, IL&FS sign up for two mega power projects
Govt issues special bonds for oil marketing cos
HDFC Bank eyes 50 pc rise in cards
Shriram Trans, Overseas merger at 3:5 ratio
Corp Bank to open public library in Mangalore
Online banking usage picking up

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line