HDFC Bank, India’s largest private sector lender, is now available on the most popular chat application, Facebook’s Whatsapp, targeting the millennials. Customers can check their account and credit card details using the app. They can also enquire about pre-approved offers and the bank’s promotions with the help of Whatsapp. Answers to frequently asked questions can also be secured through the app.
The bank is offering attractive discounts and cashback schemes on its online platforms and credit and debit cards to lure the young, and has been bringing out full front-page advertisements in country’s leading dailies.
The bank is offering four different cards for the millennials under the brand name ‘Millennia’. These include the credit card, the debit card, a prepaid card and an EasyEMI card.
It is offering 5% cashback on shopping via its wallet PayZapp and its payment gateway SmartBUY. SmartBuy is a platform only for display of offers extended by merchants to HDFC Bank's customers and the bank as such does not sell any of these products and services.
The bank, also known as the 25% engine in the stock market for growing its profits by that much every quarter year-on-year, is giving 2.5% cashback on all online spends and 1% cashback on every offline spend as well as reloading of the wallet.
At 1220 PM on the BSE, HDFC Bank shares were down 0.7% at Rs1,250. The broader benchmark index, the 30-stock BSE Sensex, was nearly flat at 39,076.38 points.
