Festival offerings: Axis Bank offers discount on debit, credit card purchases

By: |
October 20, 2020 8:40 PM

The bank has partnered with some of the top brands like Amazon, Flipkart, Westside, Marks & Spencers, Samsung, LG, Tata CLiQ, Whirlpool, HP, D Mart and more. Customers can also avail benefits of attractive EMIs (equated-monthly instalments) on these purchases.

Profit before tax came in lower for Axis Bank as provisions continued to be higher. NPA provisions were at Rs 588 crore but other provisions were at Rs 3,992 crore, up 389% from the previous year.

Kick-starting its festival season offerings, Axis Bank on Tuesday announced a host of discounts on various consumer platforms, as well as loans at special rates.

Under the ‘Dil se Open Celebrations’ that will offer deals and discounts on more than 1 lakh branded products on purchase through Axis Bank credit and debit cards, the lender said it has partnered with some top brands for the festival season offer.

The bank is also offering some key benefits to customers who are in need of loan, offering home loans starting at 6.90 per cent as well as car loans at 7.99 per cent and up to 100 per cent road funding.

In the offer, retail and corporate customers can avail benefits from Axis Bank as well as its subsidiary companies Axis Finance and Axis Direct, it said in a release.

Cardholders can enjoy various offers through shopping directly with partner brands as well as through the ‘Grab Deals’ platform, which is hosted on the bank’s website and is applicable on products across categories like electronics, apparels, groceries, entertainment and more, it said.

The bank has partnered with some of the top brands like Amazon, Flipkart, Westside, Marks & Spencers, Samsung, LG, Tata CLiQ, Whirlpool, HP, D Mart and more. Customers can also avail benefits of attractive EMIs (equated-monthly instalments) on these purchases.

Among others in the loan offerings, customers are offered two-wheeler loans with EMIs as low as Rs 278 per Rs 10,000 for a tenure of 48 months and up to 100 per cent road funding.

Personal loans will be offered starting at 10.49 per cent (EMI Rs 2,149 per lakh); education loans at 10.50 per cent to transfer the existing loans, and gold loans over Rs 2 lakh with a processing fee at 0.25 per cent.

Besides, it will also offer business and working capital loans at attractive interest rates.

“This festive season, we have partnered with prestigious brands to offer a wide range of options to our customers to choose from,” said Ravi Narayanan, president and head (branch banking, retail liabilities and products) at Axis Bank, said.

He added that Axis Bank is offering special interest rates on home loans, auto loans, gold loans and business loans.

In addition to the bank, Axis Direct will also offer 50 per cent brokerage cashback on trades during Mahurat trading (November 14), EDGE reward points on first equity SIP transaction and first trade on mobile app.

Axis Finance will give an exclusive discount of up to 20 per cent at select Just In Time stores on brands such Swarovski, Citizen, Seiko and Tissot, with zero processing fee and zero down payment for loans up to 6 months.

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