Mumbai: Private lender HDFC Bank has taken its “festive treats” offering to its semi-urban and rural markets in a bid to prop up credit growth. The bank will use its network of 1.2 lakh village level entrepreneurs (VLEs) and tap over 3,000 plus hyperlocal merchants and traders to offer customized deals at the regional level.
According to the lender, customers will get special deals on all banking products from loans to bank accounts. This includes home loans, 2-wheeler loans, car loans, tractor loans, gold loans or business growth loans. Customers can avail of flat 5% to 15% off in various categories of products.
“60% of India lives in semi urban and rural areas and we have been increasingly reaching out to them through our network,” said Smita Bhagat, Country Head, Government and Institutional Business, HDFC Bank said. “With them (VLEs) as our partners, we have been able to go deeper into the hinterland and take banking products to rural India.
Both retail and business customers will be able to access discounts on processing fees for loans, reduced EMIs, discounts on foreclosure charges on certain loans availed during the period
The bank is charging zero processing fee on its two wheeler loans and upto 25% lower EMI for the first six months. Customers will also get 50% waiver in processing fee for kisan gold loan and 50% off on foreclosure charges for tractor loans booked during a certain period.
According to the lender, customers will get special deals on all banking products from loans to bank accounts. This includes home loans, 2-wheeler loans, car loans, tractor loans, gold loans or business growth loans. Customers can avail of flat 5% to 15% off in various categories of products.
“60% of India lives in semi urban and rural areas and we have been increasingly reaching out to them through our network,” said Smita Bhagat, Country Head, Government and Institutional Business, HDFC Bank said. “With them (VLEs) as our partners, we have been able to go deeper into the hinterland and take banking products to rural India.
Both retail and business customers will be able to access discounts on processing fees for loans, reduced EMIs, discounts on foreclosure charges on certain loans availed during the period
The bank is charging zero processing fee on its two wheeler loans and upto 25% lower EMI for the first six months. Customers will also get 50% waiver in processing fee for kisan gold loan and 50% off on foreclosure charges for tractor loans booked during a certain period.
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