Page 21 - Banking Finance October 2024
P. 21
PRESS RELEASE
Paisabazaaar launches PaisaSave Credit Card
The PaisaSave Credit Card is designed to reward frequent The card has no joining fee, and the annual fee of INR 499
shoppers by offering substantial cashback on everyday can be waived off from the second year if users meet the
purchases, both online and offline, making it a must-have spending threshold of INR 1.2 lakh per annum in the
for the value-conscious customers. preceding year, making the PaisaSave Credit Card highly
Key features of the PaisaSave Credit Card include: cost-effective for regular shoppers.
Cashback* of 3% on online purchases across popular Mr. Anil Singh, Country Head - Credit Cards and Merchant
platforms including Amazon, Myntra, Flipkart, Nykaa, Acquiring, YES BANK, said, Our partnership with
Swiggy, Zomato, Tata Cliq, Ajio, among others Paisabazaar aims to offer a credit card that meets the
everyday needs of todays consumers. The PaisaSave Credit
After reaching a monthly cashback limit of INR 5,000
Card provides cashback benefits for both online and offline
on online transactions, users will continue to earn 1.5%
transactions, helping customers save more on their regular
cashback* on further online purchases
purchases. By combining YES BANKs financial expertise with
Unlimited 1.5% cashback* on all offline purchases, Paisabazaars digital reach, weve created a simple,
including in-store transactions
effective solution to enhance the overall banking
Fuel surcharge waiver of 1%* at all fuel stations experience for our users.
The PaisaSave Credit Card provides an easy way for Mr. Naveen Kukreja, Co-founder & CEO, Paisabazaar, said,
customers to save as they spend, especially on online Our co-created strategy continues to evolve as we deepen
transactions where cashback is accelerated to 3%. Whether partnerships across the ecosystem and strengthen our
shopping on popular e-commerce sites or paying at physical pipeline of superior, digital-only products that meet need
stores, the card ensures consistent savings through its gaps across consumer segments. Our latest offering with
unlimited cashback feature. YES BANK is another step in that direction. Our co-created
Additionally, customers can opt for a virtual YES BANK Rupay card PaisaSave has been designed for the new and young
Credit Card while applying, enabling them to make UPI Bharat, making online purchases a rewarding experience
payments seamlessly, further expanding the cards utility. for this aspirational and digital-savvy segment.
ICICI Bank in collaboration with PFRDA launches NPS Vatsalya, a
pension account for minors
ICICI Bank today announced the launch of NPS Vatsalya, a pension scheme aimed at securing the financial future of
children, at its service centre at BKC in Mumbai, Maharashtra.
The new pension scheme, which will run under the aegis of Pension Fund Regulatory and Development Authority (PFRDA),
was proposed in the Union Budget 2024 -2025. It allows contribution by parents/guardians for the minor until they turn
adults. On attaining the age of 18, the individual can convert it into a normal NPS account.
ICICI Banks announcement of this scheme is a part of the governments formal launch across the country by Honourable
Finance Minister Smt. Nirmala Sitharaman in New Delhi today.
Mr. Sriram H., Head Deposit Products, ICICI Bank said, We are delighted to be part of the NPS Vatsalya launch scheme
with the Government of India and PFRDA. We have begun this journey by opening our first set of NPS Vatsalya accounts
today. We have equipped all ICICI Bank business centres across the country to open the NPS Vatsalya account for
customers. This account helps in long-term wealth creation, ensuring that by the time the minor becomes an adult,
there is a financial corpus in place for them."
ICICI Bank inaugurated the commencement of the scheme by registering accounts of a few children under NPS Vatsalya.
They also received a symbolic Permanent Retirement Account Number (PRAN) card for their NPS Vatsalya account.
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