HDFC bank waives off 50% processing fee on loans and introduces Festival Treat 2.0

Things were not very great during the first few months of this year, but somehow all of us have managed to stay afloat. The financial organisations (banks and non-banking financial companies) have introduced various offers to assist the customers.

HDFC bank

HDFC bank has come up with concession on fees and Festive Treats for their customers.

On Wednesday HDFC Bank introduced the’ Festival Treat’ 2.0 offer under which the customer can get special deals on banking products ranging from loans to credit cards with over 1,000 offers from leading service providers and over 2000 local offers through tie-ups with local merchants across semi-urban and rural locations.

As a part of this offer, the HDFC bank has offered a 50% off on the loan processing fees on personal loans, auto loans and business growth loans while zero processing fee will be charged on two-wheeler loans.

With the launch of the “Festival Treat, 2.0” Mr. Parag Rao (Merchant Acquiring Service and Marketing, HDFC) said that the customers had restricted themselves while
purchasing during the lockdown and there is a lot of pent up demand that has built up in the system.

The launch of these offers will somewhere help the customers to meet their requirements without any hassle. The first Festival Treat was a success, and the second version is expected to break records, considering the trend.

Mr. Rao also highlighted that the HDFC bank has joined hands with retail brands to offer discounts, cashback, and extra reward points on both in-store and online purchases.
The bank will provide offers where the customer can avail of the cashback. At the same time, they will be able to convert their purchases into Equated Monthly Instalments (EMI) without any additional cost charged.

With all these officers, HDFC Bank customers can avail cashback up to rupees 7,000 on Apple products even on the latest version. A shopper can avail cashback offer up to 22.5%.

In addition to that, Mr. Rao has stated that from the past two to three months, the banks have seen a comeback in customer’s interest and buying patterns. It is expected to continue throughout the festival season as well.

The bank has also announced that in the light of recent events, all the deals and offers can be availed of through the digital platforms, keeping in mind the safety of customers, in addition to services provided over-the-counter.

Mr. Aditya Puri, the Managing Director of HDFC Bank, while sharing some positive thoughts on the situation, mentioned that the demand would gradually increase and the business may even exceed what it was before the pandemic.

“We are looking too much on the negative side.” he quoted. Mr. Puri has urged people to view the situation optimistically or with hope.

On Monday, the country’s largest lender, State Bank of India (SBI) had also announced a slew of special offers on home, car, personal and gold loans for its retail customers ahead of the festive season.

Several banks and non-banking financial companies are trying their best to bring the best out of the current situations by offering such facilities that will be beneficial for their customers and help them during these challenging times.




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