ICICI Bank and HPCL launch ‘ICICI Bank HPCL Super Saver’

 ICICI Bank and HPCL launch ‘ICICI Bank HPCL Super Saver’ co-branded Credit Card

 

·         Offers 5% cashback on spends on fuel at HPCL outlets

·         Also offers 5% PAYBACK reward points on spends on electricity and mobile, and at large departmental stores

·         Provides complimentary roadside assistance, airport lounge access and discounts on movie tickets

 

ICICI Bank today announced the launch of a co-branded credit card with Hindustan Petroleum Corporation Limited (HPCL) to enable users to get benefits and reward points of using multiple credit cards in one. Named, ‘ICICI Bank HPCL Super Saver Credit Card’, the card offers best-in-class rewards and benefits to customers on their everyday spends on fuel as well as other categories including electricity and mobile, departmental stores like Big Bazaar and D-Mart, and e-commerce portals, among others. Powered by VISA, the card is unique among its peers which typically offer benefits on only one category of spends.

 

Speaking on the launch, Mr. Sudipta Roy, Head – Unsecured Assets, ICICI Bank said, “We at ICICI Bank constantly strive to offer innovative propositions that address the growing and changing needs of customers. We are delighted to partner with HPCL to launch the ‘ICICI Bank HPCL Super Saver Credit Card’. Typically, similar credit cards offer accelerated benefits on spends in one category. This card breaks that barrier as it enables customers to save on every transaction that they make. This truly makes the card a ‘super star’ of savings. We believe that this card will empower customers to save more while enjoying the convenience of digital payments.”

 

HPCL Executive Director - Retail, Shri S K Suri, said “HPCL is very happy to partner with ICICI Bank to launch ‘ICICI Bank HPCL Super Saver Credit Card’ with unique offerings and rewards to enhance customer experience. This credit card will help in promoting the digital payment ecosystem at retail outlets and meet the expectations of the customers with its innovative offerings. The customer will also get additional loyalty points when they use this card on our HP Pay App.”

 

Customers can apply for the ‘ICICI Bank HPCL Super Saver Credit Card’ through the Bank’s internet banking platform or the mobile banking app, iMobile Pay. They get a digital card in a 100% contactless and paperless manner. The physical card is also sent to the customer by ICICI Bank within a few days. Further, customers can manage their transaction setting and credit limit conveniently on iMobile Pay app.

 

Additionally, they can upgrade their existing ICICI Bank credit card to ‘ICICI Bank HPCL Super Saver Credit Card’ using iMobile Pay and internet banking. 

 

 

Features of the ICICI Bank HPCL Super Saver Credit Card:

 

·         Rewards:

·         5% cashback on spends on fuel at HPCL retail outlets which includes 4% cashback and 1% surcharge waiver

·         Additional 1.5% benefit as PAYBACK reward points on spends on fuel made through HPCL’s ‘HP Pay’ app

·         5% benefit as PAYBACK reward points on spends on electricity and mobile as well as shopping at large departmental stores like Big Bazaar and D-Mart.

·         2 PAYBACK points per Rs. 100 spent on all other categories including shopping at local stores and e-commerce portals for online shopping

·         2000 PAYBACK points as a joining benefit, which are credited to the customer’s PAYBACK account upon activation of the card

·         Cashback of Rs. 100 in ‘HP Pay’ app wallet on the first transaction made using the app worth Rs. 1000 or above

 

·         Value added benefits:

·         Industry first feature of complimentary 24x7 roadside assistance

·         Annual fee waiver on spends of Rs. 1,50,000/-

·         Complimentary domestic airport lounge access

·         Exclusive discounts on movie ticket bookings on BookMyShow and Inox

·         Exclusive dining offers through the Bank’s Culinary Treats programme

 

The PAYBACK points are credited to the customer’s PAYBACK account which is auto-created at the time of issuance of the card. Customers can then redeem these points as per their choice on the PAYBACK website, ‘HP Pay’ app, or at PAYBACK partners stores/website. They can also redeem the PAYBACK points for purchasing fuel at HPCL retail outlets.

 

To know more about the ‘ICICI Bank HPCL Super Saver Credit Card’, visit : https://www.icicibank.com/Personal-Banking/cards/Consumer-Cards/Credit-Card/hpcl-super-saver/what-makes-this-work.page

 

Amazon Pay ICICI Bank credit card on-boards over two million customers

Amazon Pay ICICI Bank credit card on-boards over two million customers

 

·         Powered by Visa, it is the fastest co-branded credit card in the country to reach the milestone

·         Any registered customer of Amazon India, including those who are not customers of ICICI Bank, can apply for the card

·         KYC facility available over video; makes on-boarding fully contactless and digital

 

ICICI Bank and Amazon Pay today announced that the Bank has crossed the milestone of issuing two million ‘Amazon Pay ICICI Bank' credit cards. In the process, the card has emerged as the fastest co-branded credit card to cross this milestone in the country. Amazon Pay and ICICI Bank introduced the card, powered by Visa, in October 2018. The card also holds the record of being the fastest co-branded credit card in India to cross the milestone of one million issuances in October last year. Thereafter, the card has on-boarded another one million customers in the last nine months, with over 80% of new customers availing the card completely digitally, without any physical interaction.

 

The milestone is a testimony of the unique benefits that the card offers to the cardholders. The list of benefits include an always-on, unlimited reward programme, instant issuance of the card for select customers in less than 60 seconds, direct crediting of reward points to Amazon Pay balance and the contactless payment feature to help customers pay safe.

               

In addition, ICICI Bank and Amazon Pay have been continuously adding features to the card to improve customer convenience. For instance, any registered customer of Amazon.in, including those who are not customers of ICICI Bank, can apply for the card digitally, from anywhere in the country. New customers can be on-boarded by ICICI Bank through a ‘Video KYC’ facility in a safe and contactless manner. This is among the first credit cards in India which introduced ‘Video KYC’ for customers in June 2020. Since then, the card has witnessed encouraging acceptance from across the country, majorly from cities including Delhi NCR, Mumbai, Pune, Bengaluru and Hyderabad. It is hugely popular among millennials and it witnesses maximum spends across online marketplaces, departmental stores and insurance premium payments.

 

Mr. Sudipta Roy, Head – Unsecured Assets, ICICI Bank said, “The Amazon Pay ICICI Bank credit card has received exciting response from customers across the country. The best-in-industry rewards, seamless access to credit and the easy on-boarding process are the key contributors of this excitement. With the introduction of ‘Video KYC’ in June 2020, many new-to-bank customers applied for the card from various parts of the country, which significantly boosted the user base. In October last year, the card became the fastest co-branded credit card in India to cross the milestone of one million issuances. It has now become the fastest co-branded credit card to cross two million issuances, with the last one million cards issued in less than a year. More than 80% of these new customers availed the card completely digitally, without any physical interaction. We believe the card is well poised to become the largest co-branded credit card in the country.”

 

“At Amazon Pay, we are transforming the way customers’ make digital payments. The Amazon Pay ICICI Bank credit card is one of the most rewarding, convenient and trusted payment experiences in the country. Over 2 million customers have shown their trust in us and how they value the experience. This card provides our customers another reason to choose Amazon Pay for all their shopping and payments needs”, said Vikas Bansal, Director – Amazon Pay India.

 

“We’re delighted that the Amazon Pay ICICI Bank credit card powered by Visa has crossed two million cards, with the last one million cards issued in less than a year, despite the ongoing pandemic. This reinforces the belief that consumers prefer cards that give them great rewards and ease of payment. The card is used across a wide range of categories, demonstrating that consumers see value in using it for all their spends” said Shailesh Paul, Head of Merchant Sales & Acquiring and CyberSource, India and South Asia, Visa.

 

Customers can apply for the Amazon Pay ICICI Bank credit card on the Amazon.in website or mobile app. They get a digital card in a 100% contactless and paperless manner. The physical card is also sent to the customer by ICICI Bank within a few days. 

 

Key features of the Amazon Pay ICICI Bank credit card include:

·         Lifetime free credit card with no joining or annual fee

·         Offers unlimited reward points on card spends based on the category of spends

·         Amazon Prime members earn 5% reward points and all other customers shopping on Amazon.in earn 3% reward points

·         Offers 2% reward points for spends on digital categories on Amazon.in, like bill payments, recharges, add money to Amazon Pay balance, travel & movie bookings

·         Also offers 2% for spends on Amazon Pay merchants, e.g. Swiggy, Bookmyshow, Yatra, and many more

·         Provides 1% reward points for spends on any merchant location in the country where Visa cards are accepted. Customers also get fuel-surcharge waiver and no cost EMI offers on a large selection. No earnings on fuel, EMI transactions and gold purchases.

·         One reward point is equal to one rupee and there is no upper limit on reward points that can be accumulated

·         Reward points do not expire and can be redeemed from over 16 crore products on Amazon.in and other merchants that accept payments though Amazon Pay

·         The card can be used at more than 4 million merchant locations in India – everywhere you shop 

 

The reward earnings are credited monthly, after the billing cycle date of the card to the customer’s Amazon Pay balance. They can redeem these earnings to purchase from more than 16 crore items available on Amazon.in across. The reward earnings can also be used with Amazon Pay partner merchants for transactions like flight tickets, booking hotels, food delivery, movie tickets and much more.

NPCI plans expansion of its

NPCI plans expansion of its 100% contactless and interoperable parking solution with NETC FASTag in metros

·         With a great response from the first-of-its kind contactless car parking facility at Hyderabad Airport, NPCI is taking this unique service to Delhi, Mumbai, Chennai and Bengaluru

·         NPCI is in discussion with malls, airports and parking lots in Delhi & Bengaluru to implement contactless car parking

National Payments Corporation of India (NPCI) today announced the expansion of its 100% Contactless and Interoperable Parking Solution with NETC FASTag in major cities like Delhi, Mumbai, Chennai and Bengaluru. As the first bank to extend this facility of collecting parking charges through FASTag at the GMR Hyderabad International Airport, ICICI Bank with NPCI, is set to roll out contactless car parking in other metros.

The unique facility of 100% Contactless and Interoperable Parking Solution with NETC FASTag is currently being implemented by 10 FASTag issuing banks at the GMR Hyderabad International Airport. NPCI expects the rest of the issuer banks to activate the contactless parking with NETC FASTag at the Hyderabad Airport in the next few weeks.

NPCI is now geared-up to expand the contactless car parking facility in Mumbai and Delhi. It has also initiated discussions with major malls, airports and other private parking lots in Chennai and Bangalore for the NETC FASTag powered contactless car parking solutions. The company has been receiving interests from major banks in spearheading the parking projects.

Mr. Sudipta Roy, Head - Unsecured Assets, ICICI Bank, said, “ICICI Bank has always been at the forefront of introducing innovative technology for a world class customer experience. We are happy to partner with the GMR-managed Rajiv Gandhi International Airport to enable a FASTag powered parking management system. This is a safe, contactless and hassle-free system. It works on RFID technology that also powers digital toll collection at more than 695 toll plazas across the country. We feel that commuters using Hyderabad Outer Ring Road and now the airport parking will get a seamless experience powered by ICICI Bank FASTag.”

Mr. Pradeep Panicker, CEO, GHIAL, said, “As part of our commitment to providing a safe airport experience during Covid-19 pandemic, we are happy to announce that now passengers and visitors can avail a fully contactless car parking experience thanks to the collaboration with NPCI and NETC, which has now made our car parking fully compatible with any NETC FASTag Issuing Banks in India. We have tested first with ICICI Bank and now opening up to all the balance issuers. With this customers holding any bank NETC FASTag could zip through the airport car parking with zero-contact transactions having full control over their safe travels. While, the traditional mode of transaction with digital payment over-the-counter option will also be available, however, for more safety and contact-less experience, one could avail the NETC FASTag option at the airport car parking.”

Ms. Praveena Rai, COO, NPCI said, “We are going to see a good adoption of this solution across all the parking lots in the near future. We are aiming at taking this unique contactless parking proposition in metro cities keeping in mind the convenience of passengers and visitors. In this new normal during the COVID-19 pandemic situation 100% contactless payment solution is going to be the need of the hour. Our endeavour at NPCI is to provide customers across the country a safe, hassle-free and truly contactless vehicle parking experience with NETC FASTag.”

The contactless car parking facility allows passengers and visitors the comfort of paying for parking without the need to roll down their windows. While the parking lots across the country are being enabled with digital payment solutions, several models are semi-automated but not 100% contactless. This leads to an opportunity to all parking providers across the country to adopt a safe and contactless payment solutions by implementing the NETC FASTag. The NETC FASTag solution not only works in a post pay solution but also with a pre-paid mode of securing parking at any parking plaza. The parking applications can seamless integrate with the NETC FASTag API model and avail the benefit of Interoperability.

How the solution works:

This automated system entails a customer buying the NETC FASTag, which is linked to a prepaid account. The tag employs Radio-frequency Identification (RFID) technology and needs to be affixed on the vehicle's windscreen after the tag account is active. The RFID Tag is mapped with NPCI by the issuer bank(s). The subscriber of this system can use the parking without any manual intervention, such as waiting for a parking receipt at the entry or making cash/credit card payment at the exit. There is no additional cost to customers with respect to the parking fee. One has to just purchase a onetime tag which does away with the wait time at entry and exit.

Dedicated NETC FASTag lanes are in place. When a user arrives through this lane, the strategically placed RFID reader will capture the tag with the timestamp and store the details in the local data base. While exiting, the same will be reconciled and the chargeable parking fee is automatically deducted allowing the passengers to virtually zip through the parking lot in no time. Post completion of every transaction, user will receive SMS on the deducted amount.

For any parking integration requirements you may write to Parking.netc@npci.org.in

ICICI Bank offers instant approval of

ICICI Bank offers instant approval of education loan of upto Rs. 1 crore

·         First bank in the country to offer this facility

·         Available for accredited colleges and universities across the world

·         Fully digital process

ICICI Bank today announced the launch of a facility that empowers customers to get instant sanction letter for education loans upto Rs. 1 crore to finance higher studies for themselves or their children, siblings and grand-children in accredited colleges and universities across the world. Called ‘Insta Education Loan’, this first-of-its-kind facility enables lakhs of pre-approved customers to take education loans in a fully digital process against their fixed deposits with the Bank. They can furnish the sanction letter to the educational institute to confirm their admission.

The ‘Insta Education Loan’ facility significantly improves customer convenience as they can now generate the sanction letter themselves in just a few clicks using the Bank’s internet banking platform. Typically, it takes a few working days for a customer to get the sanction letter of an education loan. Also, it does away with the need of having to visit a bank branch and submitting a whole lot of documents.

          

Speaking about the new facility, Mr. Sudipta Roy, Head - Unsecured Assets, ICICI Bank, said, “As part of our constant endeavour to fulfil the dreams of lakhs of aspiring students, we are pleased to introduce instant approval of sanction letter for education loans against fixed deposits held with the Bank. Students can now complete the application process of colleges/universities without worrying for their financial requirements. They along with their parents can avail this facility with digital convenience and without any hassle of paper work. This facility will brings down the turnaround time for getting the sanction letter from days to a few minutes. We believe that this facility surely brings in exceptional convenience to customers as they can avail finance for higher studies without breaking their fixed deposit/ savings.”

Below are some of the salient features of ‘Insta Education Loan’:

·         Instant sanction: Customers get the sanction letter instantly through email, without visiting a branch

·         Flexibility: Customers can apply for loans upto 90% of their fixed deposits with the Bank for their children, siblings, grand-children or themselves.

·         Wide range of loan amount: For students seeking admission in international institutes, the loan amount ranges between Rs. 10 lakh and Rs. 1 crore. The amount varies between Rs. 10 lakh and Rs. 50 lakh for student seeking admission in domestic institutes.

·         Easy to apply: Customers can choose the loan amount and tenure of repayment up to 10 years through internet banking platform of the Bank with just a few clicks.   

·         Tax benefits: Full interest payment on the amount of ‘Insta Education Loan’ up to 8 years is allowed as deduction from annual taxable income, as per the Section 80E of Income Tax Act, 1961.

Customers can avail the sanction in a few simple steps below:

1.       Log in: Customers can log in to the Bank’s internet banking platform and check the pre-approved offer

2.       Enter loan details: They need to enter details like loan amount, repayment tenure, name of college / university and cost of study. The calculator automatically displays the details of the Equated Monthly Instalment (EMI).

3.       Enter student details: They are required to enter details of the student like name, date of birth and relation with student. Further, they need to check final offer, agree to terms & conditions and authenticate via a One Time Password (OTP) received on their registered mobile number. Thereafter, on payment of processing fee, a sanction letter is generated instantly.

4.       Receive sanction letter: The provisional sanction letter is sent to the registered email ID along with details of the designated relationship manager.

For the final disbursement of the loan, customers are required to get in touch with the relationship manager mentioned in the email of sanction letter. Post collecting required documents like admission letter, financial documents and signatures, the Bank will disburse the loan amount to the educational institution. Customers can also visit the nearest ICICI Bank branch for submission of the documents.

ICICI Bank introduces ‘Insta'

ICICI Bank introduces ‘Insta FlexiCash’ 

·         Enables Salary Account customers to get instant approval for OD 

·         An end-to-end digital facility; the customer does not need to visit branch

 ICICI Bank today announced the launch of a facility, that enables its Salary Account customers to get approval for overdraft (OD) instantaneously and in a paperless manner. Called, ‘Insta Flexicash’, the end-to-end fully digital facility can be availed using the Bank’s internet banking platform.

The facility comes handy to lakhs of the Bank’s pre-approved customers who can apply for the OD from the comfort of their home, without visiting a bank branch. The facility can be sanctioned immediately while customers can start using the approved OD limit within 48 hours.  The interest payable on the OD is calculated on the basis of the actual amount availed by the customer, not on the full amount of the OD sanctioned.

Talking about the initiative, Mr. Sudipta Roy, Head - Unsecured Assets, ICICI Bank said, “We at ICICI Bank have always believed in tailoring our products and services in a way that offers maximum convenience to our customers. In the recent years, we have leveraged upon data analytics and technology to introduce a slew of retail products that can be availed instantaneously. This new facility, ‘Insta FlexiCash’, is an extension of this endeavor. During the testing times of the Coronavirus pandemic, we feel that this new facility will help our salaried customers tide over their need for liquidity for various expenditures in a hassle-free manner.”

Here’s a look at the salient features of ‘Insta FlexiCash’:

·         Instant approval for overdraft facility: Customers get an instant approval for the OD facility with no documentation, using the Bank’s internet banking platform.

·         Extensive credit limit of OD: The Bank offers customers a credit limit worth up to three times their net salary.

·         Only pay for what you use: Interest should be paid only on the actual OD amount utilised

·         Flexibility of repayment: Customers have the flexibility to clear the outstanding limit at their convenience. They are only required to pay the interest that is due every month.

·         No foreclosure charges: The facility offers customers the flexibility to repay the OD amount that they avail, as and when they choose to, without any foreclosure charges

·         Convenience of auto-renewal: Customers enjoy the convenience of the automated process enhancement and renewal of OD limit every 12 months.

·         Hassle-free auto sweep-in facility: The auto sweep-in facility enhances convenience for the customers. It automatically sweeps in funds from the OD account to the Salary Account to meet scheduled payments, when required. Upon any credit in Salary Account, the funds are automatically returned to the OD account and interest is charged only on the actual amount utilised and the duration for which it was utilised.

Here’s how customers can avail the facility

·         Log in to your internet banking account

·         Navigate to the ‘Offers’ section

·         Check your pre-approved OD offer and apply

The customers can check their pre-approved offer and apply directly by visiting: https://oapnext.icicibank.com/asset-portal-all/apply-now?loanType=pl&SALOD=true

To know more about the ‘Insta FlexiCash’ facility, visit: https://www.icicibank.com/Personal-Banking/loans/personal-loan/flexicash.page