Now, a special credit card aimed at the housewife from Kotak Mahindra Bank

MUMBAI: India’s fourth largest private sector lender Kotak Mahindra Bank will offer credit cards exclusively for women customers on the occasion of international women’s day. “Kotak Silk Inspire” credit card targets housewife’s who do not have fixed monthly income and can be availed against fixed deposits.

“We are ready to launch it on a reasonably aggressive all India scale, as we ourselves have been surprised by the size of the opportunity,” Shanti Ekambaram, President-Consumer Banking, Kotak Mahindra Bank told ET. “We have piloted the product, we are encouraged by the response and now we are going for a large scale launch.”

Any housewife having a fixed deposit will be allowed a credit limit against it. The customer will continue to earn income on the fixed deposit, 80% of the corpus will be exposed to the customer for spends, Ekambaram explained. Apart from homemakers the card also targets businesswoman and salaried class woman professionals.

The card will offer 5% savings on apparel, fuel surcharge waiver and Silk Inspire Shield for protection against card misuse.