HDFC Bank issues record high of over 4 lakh cards post embargo

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News Desk, News Nation 360: HDFC Bank Recently announced a record of over 4 lakh credit cards issued since the embargo being lifted. The record issuance is as of September 21, 2021, and marks the aggressive growth path the Bank has charted post the embargo to reinvent and co-create its credit cards portfolio with strong products and partnerships. The bank also announced the relaunch of 3 cards. HDFC Bank’s Millennia, MoneyBack+ and Freedom cards have been reinvented to put more power into the hands of the customers, by adding a host of new features and benefits. The new card variants will be available to customers in October’21. Existing Freedom and Millennia cardholders will also be able to enjoy the new benefits as well and will be notified by the bank regarding the same. The revamped portfolio are 1) Freedom  Credit  Card - Best  Card  For  Your  Everyday  Spends &

BIG Purchases, the key benefits are Rewarding Affordability – 5X Cashpoints on EMI spends at merchant locations and Interest Rate of just 0.99% for 1st 90 days from the card issuance date. 2) MoneyBack+ Credit Card - The most rewarding card for everyday spends, the key benefits are 10X Cashpoints on 5 key merchants – Amazon, BigBasket, Flipkart, Reliance Smart Superstore & Swiggy and 5X Cashpoints on EMI spends at merchant locations. 3) Millennia - Best Cashback Credit Card, the key benefits are 5% Cashback on your 10 key merchants – Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber & Zomato. Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank stated that they are now pushing the pedal not only to acquire new customers but also to enhance the offerings of our existing cards. Their strategy to re-invent, create and co-create has been crafted based on the analysis of customers’ buying behaviour, the categories they spend on and the spend patterns. They are ready to unveil best in class offerings and experiences to their customers, just in time for the festive season.

Report : Anustup Kundu