Spending
After doctors, HDFC Bank launches credit card for teachers

The new credit card from HDFC Bank offers special features such as multiple reward points, weekend bonanza points and petrol surcharge waiver

Mumbai: HDFC Bank, the largest player in credit card space in the country, has launched a card exclusively for teachers, reports PTI.

 

The new credit card -- launched on the Teacher's Day -- offers special features such as multiple reward points, weekend bonanza points, petrol surcharge waiver and 500 teacher's day special gift reward points.

 

Explaining the rationale, the bank in a statement said education is one of the largest service sectors in the country with a combined market size of more than 450 million students and growth rates of 10-15% expected over the next decade.

 

The total market of education institutions is expected to increase to Rs2.5 trillion by the end of the year, and the education sector will have attractive margins, it said.

 

HDFC Bank senior executive vice-president & business head for credit cards & merchant acquiring services Parag Rao said, "Like the doctor's credit card that we launched recently, the teachers' credit card is a token of appreciation towards lakhs of teachers who play a pivotal role in shaping the lives of millions of our children.

 

"Also, being the industry leader, we believe in providing diversified products to an extensive customer base."

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