StanChart launches overdraft product
Standard Chartered Bank has launched a ‘smart credit gold overdraft’, a product that would enable its customers to overdraw on their current accounts using a card attached to the account.
By PTI |
MUMBAI: Standard Chartered Bank has launched a ���smart credit gold overdraft���, a product that would enable its customers to overdraw on their current accounts using a card attached to the account.
The funds can be accessed by using the card at an ATM machine and can be used at any merchant establishment like a credit card, the bank said on Monday. The overdraft amount can be repaid over a period of months as per the convenience of the customer, the bank said.
���We have designed the overdraft with the aim of giving our customers the unique experience of using many products rolled into one. It���s handy if you need cash and can repay it in the short term,��� said StanChart general manger, credit card and personal loans RL Prasad. The key features of the card include convenient access to an open credit line, higher credit limits and reward points on spends and fuel surcharge waiver benefits amongst others, the bank said.
StanChart will charge an annual fee of Rs 1,499 for the service, which will initially be launched in the six metros ��� Mumbai, Delhi, Kolkata, Chennai, Banglore and Ahmedabad ��� the bank said.
The funds can be accessed by using the card at an ATM machine and can be used at any merchant establishment like a credit card, the bank said on Monday. The overdraft amount can be repaid over a period of months as per the convenience of the customer, the bank said.
���We have designed the overdraft with the aim of giving our customers the unique experience of using many products rolled into one. It���s handy if you need cash and can repay it in the short term,��� said StanChart general manger, credit card and personal loans RL Prasad. The key features of the card include convenient access to an open credit line, higher credit limits and reward points on spends and fuel surcharge waiver benefits amongst others, the bank said.
StanChart will charge an annual fee of Rs 1,499 for the service, which will initially be launched in the six metros ��� Mumbai, Delhi, Kolkata, Chennai, Banglore and Ahmedabad ��� the bank said.
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