Money Saver India
Get rewarded for online banking

Get rewarded for online banking

Banks have been doling out attractive gifts and cashback offers to lure customers to netbanking and mobile banking. Referrals too can help a customer win a wholesome amount.

Have you dreaded online or mobile banking all this while? There is no better time than to start now. Banks are not just offering discounts on processing fee of loans but also giving away silver coins, gift hampers and cashback for select transactions carried out through netbanking and mobile banking.  

In a bid to get customers hooked to mobile banking HDFC Bank says it will hand over silver coins to the first 50 mobile banking users each day. This is only for first time mobile banking users of HDFC Bank.

Similarly, one can bag a travel discount of upto Rs10,000 by activating iMobile (mobile banking) facility of ICICI Bank. Those who haven’t yet transacted through the online banking channel of ICICI Bank, would get a Provogue gift hamper worth Rs5,799 on their first netbanking transaction.

Online applications too are being wooed by banks. As ICICI Bank says, online home loan applicants can claim a 10% discount on their Croma Retail purchases. In some cases, even loan processing charges are being waived off for those who apply online. Borrowers applying for HDFC Bank’s gold loan online will pay no processing fee and the foreclosure charges too would be waived off. Citibank is promising a Rs1,000 cashback for those who apply for a credit card online.
IndusInd bank is rewarding top three debit card spenders with a Tablet each week, while Standard Chartered Bank is giving away rewards upto Rs10 lakh for successful referrals of home and personal loan customers. The reward amount is proportionate the loan amount of the referred and the number of referrals that a customer provides.

Don’t get tempted by the offers and miss the norms laid by the banks for the rewards. HDFC Bank will not gift you a silver coin if you just download and log in to mobile banking, you need to actually transact. ICICI Bank has put a cap on the travel transaction that will earn discounts. So booking an international ticket and a hotel would help you get a discount of Rs3,000, while booking a domestic flight would mean a reduction of just Rs1,000 on the fare.  

Standard Chartered bank says that the final loan should be disbursed within six months of the referral to win the rewards. Also, the referred should apply for home loan online.   

Under the IndusInd Bank’s debit card spends the transactions on mutual funds, insurance and fuel are not considered and one has to make at least one online purchase during the week.

Most of the offers are valid till February 28, 2014, except a few that are open till March 31, 2014.

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