DCB Bank Launches Happy Savings Account with Cashback Rewards for UPI Transactions

0
94
DCB Bank Launches Happy Savings Account with Cashback Rewards for UPI Transactions
DCB Bank Launches Happy Savings Account with Cashback Rewards for UPI Transactions

Account holders can receive cashback up to INR 7,500 per year on eligible UPI transactions.

Therefore, the more transactions an individual does via the DCB Happy Savings Account, the more one stands to earn as cash back rewards.

Bengaluru, January 2, 2024: DCB Bank, a new generation private sector bank, is delighted to announce its latest offering, ’DCB Happy Savings Account.’ This innovative account is set to redefine the banking experience, making it both convenient and rewarding for its customers.

Account holders will now have the opportunity to enjoy cashback rewards on their eligible UPI debit transactions within India. The rewards can go as high as Rs 7,500 per financial year on eligible UPI transactions. UPI transactions are ubiquitous; therefore, the more transactions an individual does via the DCB Happy Savings Account, the more one stands to earn as cash back rewards. The minimum UPI transaction amount is just Rs. 500.

To keep the happiness flowing, account holders will need to maintain an average quarterly balance of Rs. 25,000 in their DCB Happy Savings Account.

The table below indicates the salient features of the scheme:

Average account balance in a Quarter Minimum transaction amount for cash back eligibility Maximum eligible UPI transactions per month Cash back per transaction Maximum cash back amount permitted per month
Rupees Rupees   Rupees Rupees
25,000 500 5 10 50
50,000 500 10 15 150
1,00,000 500 15 20 300
2,00,000 500 25 25 625

 

In addition to the enticing cashback rewards, the DCB Happy Savings Account offers a host of benefits, including unlimited free access to all DCB Bank ATMs in India, free unlimited use of online RTGS, NEFT, and IMPS facilities, DCB Personal Internet Banking, and the DCB Mobile Banking App.

“We are excited to introduce the DCB Happy Savings Account, a product that offers the best of both worlds—exciting cashback rewards and a seamless banking experience,” said Mr. Praveen Kutty, Head of Retail & Agri Banking at DCB Bank. “We believe this account will empower our customers to make the most of their everyday banking, with the potential to earn significant cash back while maintaining the required average quarterly balance. This is a testament to our commitment to providing innovative and rewarding banking solutions to our valued customers.”

It is important to note that the minimum average quarterly balance (AQB) for the DCB Happy Savings Account is INR 10,000. To be eligible for cash back rewards, account holders must maintain an AQB of INR 25,000. Cash back for a specific quarter will be credited to the customer’s account in the first month of the following quarter, with a maximum cashback of INR 625 per month and INR 7,500 per year.

This exciting cash back offer is available to new customers as well as existing account holders who request the transfer of their account(s) from any other savings bank account type to the DCB Happy Savings Account.

Also readThe integration of generative AI into workforce management yields numerous advantages, says Vikas Wahee, Head of Solutions, BPM & ITES, Intellicus Technologies

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.