SBI Cards second initiative called ‘No Income Documents’ aims at making life simple for existing mortgage and auto loan customers of banks
SBI Cards and Payment Services Pvt Ltd has launched two new innovative initiatives.
The first initiative is an innovative customer referral program and has been named ‘Link’. The idea is to provide a compelling platform for existing SBI Cards customers and invite them to refer their friends thereby becoming a SBI Card Link. Customers stand a chance to win exciting rewards and gifts by linking friends to SBI Cards. Each successful Link will also stand to win exciting cash prizes and gifts.
The second initiative called ‘No Income Documents’ aims at making life simple for existing mortgage and auto loan customers of banks as it eliminates the need of providing income documents at the time of applying for a new card. The customer has to simply sign a declaration and provide the KYC (Know Your Customer) documents for enrolment. The customer does not need to provide any kind of income documents to acquire the SBI Card.
TimesofMoney has developed a new tool that helps online merchants increase their trade by up to 40% by tracking those shoppers who have dropped out at the last moment
Online remittance services provider TimesofMoney is planning to enter the mobile and domestic remittance services, TimesofMoney, president, Avjit Nanda, told PTI.
“However, this is under work and we are yet to approach the Reserve Bank of India for permission,” Mr Nanda added.
The firm, which has become one of the top independent inward forex remittance service providers in India, said it has developed a new tool that helps online merchants increase their trade by up to 40% by tracking those shoppers who have dropped out at the last moment.
“The tool has been developed as a part of the firm’s aggressive diversification into providing payment gateway solutions with its flagship service, DirecPay, which is a bank-neutral payment processing platform for online merchants,” Mr Nanda said.
Besides, it has also developed another tool called risk analytic engine that can help merchants detect fraudulent shoppers, he added.
Pegging the e-commerce market at Rs50,000 crore, he said as much as 80% of this comes from ticketing. The domestic e-commerce market has been logging in a CAGR (compound annual growth rate) of 54% since the past five years.
SBI Life’s Annuity Plus offers a wide range of 14 annuity options enabling annuitants to choose the one that best meets the annuitants’ income needs
SBI Life Insurance has launched a highly flexible immediate annuity plan called Annuity Plus. The plan provides a regular fixed stream of income at regular intervals throughout the life of the policyholder, referred as annuitant.
The annuitant can subscribe to the plan by choosing a lump sum amount or the desired regular fixed income for life referred as annuity instalments. The annuitant has an option to choose the frequency of instalments receipts as monthly, quarterly, half yearly or yearly.
SBI Life’s Annuity Plus offers a wide range of 14 annuity options enabling annuitants to choose the one that best meets the annuitants’ income needs. Some of the attractive annuity options include lifetime income with refund of the entire premium to the nominee upon death of the Annuitant and lifetime income which increases every year by 5%.
In the Life Annuity–Two lives options, the second annuitant, who possibly could be spouse or child or sibling, could continue to receive regular income for the rest of their life even after the death of the primary annuitant. The plan offers additional benefits of incentive of attractive annuity rates for higher premium and optional accidental death benefit rider at an affordable cost. The minimum age for subscription to Annuity Plus is 40 years and maximum of 80 years.