DCB Bank, a modern emerging new-generation private sector bank, has launched DCB PayLess – a card which allows a user to avail credit while enjoying regular returns from a regular Fixed Deposit.
DCB PayLess card, importantly, is a product designed to cater to all segments of people, rather than just the ‘secured’ salaried class. In fact, it can be availed by anyone whether they are self employed or a homemaker. It requires minimal documentation – all one needs is a duly filled out KYC form, a photograph and a cheque for the FD.
DCB PayLess powered by VISA is being offered with the lowest in the category interest rate of 24% on cash, balance transfers and purchases.
On the launch of DCB PayLess, Mr. Murali M. Natarajan, Managing Director & CEO, DCB Bank, said, “DCB PayLess combines the value proposition of a regular fixed deposit account with the convenience of a credit card. This will be a great product for many of our valued customers.”
For people looking to build or rebuild their credit history, DCB PayLess acts as a tool to improve CIBIL scores with consistent good repayment record. This is a feature unique to DCB PayLess and unmatched in the industry. DB PayLess also offers a whole host of other benefits such as cash withdrawals of up to Rs 25, 000; that’s equivalent to having a credit limit of Rs 2.5 lakh with other banks.
Additionally, the bank offers a petrol surcharge waiver of up to Rs 20,000 per card holder per year; cash back of Rs 100 for every Rs 1,000 spent using the card, and personal accident insurance cover (road, rail and air) of Rs 1 lakh. DCB PayLess card customers can also avail discounts with brands like Pizza Hut and Barista in dining, along with resorts in Thailand, Hong Kong Disneyland, and over 50,000 hotels worldwide ranging from small boutique properties to 7-Star hotels.
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