Announce deals on offerings.
HDFC Bank has announced festive offers to help create demand in a slowing economy. Through its annual ‘Festive Treats’ offer, HDFC Bank customers can avail of special deals on all banking products — from loans to bank accounts — with more than 1,000 offers from leading players and over 2,000 ‘hyper’ local offers through tie-ups with local merchants across semi-urban and rural locations.The discounts are in the range of 20-30%, top bank officials said. Offers will be available across the entire range of financial solutions for retail as well as business customers with discounts on processing fee on loans, reduced EMIs, cash-backs, gift vouchers and more benefits, the bank said. “Consumers have held back on purchases during the lockdown and there is a lot of pent up demand that has built up in the system,” said Mr. Parag Rao, Country Head – Payment Business, Merchant Acquiring Services and Marketing, HDFC Bank.“In the past 2-3 months we have seen renewed customer interest and buying patterns. We see this continuing through the festive season as well.”Aditya Puri, MD, HDFC Bank said, “These are unprecedented times. What we have witnessed is that even during this period the people of our country have shown courage and resilience.” “Post lockdown we are seeing green shoots. We want to create positivity and boost consumption. We want to be there for our customers and ensure that they have everything they need to meet their demands this year,” he added.Meanwhile, ICICI Bank has also announced festive offers for its customers. Some of the offers will be available from October 1, 2020 and others, on different dates of the festive season. Anup Bagchi, executive director, ICICI Bank said, “We have tied up with an array of leading e-commerce players as well as popular brands across various categories to bring forth attractive offers.”“We have also introduced no-cost-EMI for financing electronics and gadgets.”