
THESE 6 credit cards are a good bet for shoppers, check list here
If you are a credit card user and are accustomed to a lot of online shopping as well, you can explore some credit cards which offer cashbacks and discounts. This can maximise your shopping experience.
We list out some popular credit cards which offer steep discounts and offers to the cardholders.
I. Cashback SBI Card: This card offers 5 percent cashback on online spends without any merchant restriction and one percent cashback on offline spends. There is also reversal of renewal fee ( ₹ 999) on annual spends of ₹ 2 lakh, shows sbicard.com.
II. YES Bank Paisabazaar PaisaSave Credit Card: This Yes Bank offers 3 percent cashback on online spends apart from 1.5 percent cashback on offline spends. The card offers 6 reward points per ₹ 200 spent on e-commerce transactions.
III. Amazon Pay ICICI Bank Credit Card: This credit card by ICICI Bank offers 5 percent cashback on spends on Amazon India if the cardholder is a member of Amazon Prime. It also offers 3 percent cashback on spends on Amazon India even if the cardholder is not an Amazon Prime member. One can use this card on Amazon Pay and earn 2 percent cashback on payments to 100 plus partner merchants.
You are also entitled to earn 1 percent cashback on other expenses such as shopping, dining, insurance payments, travel and much more.
IV. HDFC Bank Millennia Credit Card: This card offers 5 percent cashback on a number of platforms such as Amazon, Cult.fit, Flipkart, Myntra, SonyLiv, Swiggy, Tata CLIQ, Uber and Zomato. Additionally, there is 1 percent cashback on other spends.
The card also offers 1,000 worth gift vouchers on spends of ₹ 1,00,000 and above in each calendar year.
V. Flipkart Axis Bank Credit Card: This card gives cashback with every transaction of 5 percent cashback on Flipkart and Cleartrip spends. One can also earn unlimited 4 percent cashback on preferred merchants such as Cult Fit, PVR, Uber and Swiggy.
VI. Standard Chartered DigiSmart Credit Card: This card offers 10 percent off on Blinkit and Zomato up to a maximum of five transactions in a month. There are other conditions that also kick in. For instance, card holders can claim a maximum discount of ₹ 1,000 on Blinkit in a month and ₹ 150 on Zomato per transaction.
Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
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Economic Times
6 hours ago
- Economic Times
ICICI Bank once wanted to acquire HDFC, Deepak Parekh spills the secret
Former HDFC chairman Deepak Parekh has revealed that former ICICI Bank chief Chanda Kochhar once proposed a merger between ICICI and HDFC, well before HDFC's reverse merger with its own banking a conversation with Kochhar on her YouTube channel, Parekh recounted, "I remember you talking to me once. I remember it very clearly. It's never been talked about in public, but I'm willing to share it now. You said that ICICI started HDFC. 'Why don't you come back home?' That was your offer."Parekh said he declined the offer at the time, saying it "won't be fair" or "proper with our name and the bank and all."Parekh described the eventual HDFC-HDFC Bank merger, completed in July 2023, as a move driven by regulatory compulsions rather than business ambition. The Reserve Bank of India had classified large NBFCs like HDFC, which then held assets exceeding ₹5 lakh crore, as systemically important — well above the ₹50,000-crore threshold."RBI supported us and they pushed us into it to some extent and they helped us," Parekh said. However, he added that there were "no concessions, no relief, no time, nothing." Parekh also said the deal had been executed with extreme confidentiality. 'It was kept a secret. No one knew about it—when it hit the press in the morning, that's when everyone found out. The government was aware because RBI was in touch with them, and we kept it so close—just lawyers, due diligence, accountants,' he on the conclusion of the merger, Parekh called it "a sad day and a happy day." He added, "It's good for the institution. It's good for the country to have large banks. Look at how large Chinese banks are. We have to be bigger, larger in India."On April 4, 2022, HDFC Bank announced its plan to acquire mortgage lender HDFC in a deal valued at about $40 billion, creating one of the largest financial institutions in Indian history. The merger gave rise to a banking entity worth $172 billion, affecting tens of millions of customers and shareholders across both companies, along with their group insurance and asset management operations. Parekh said Indian banks must grow through acquisitions in order to become stronger in the future. He also listed key concerns for chief executives, including continuing uncertainty in supply chains, trade policies, and export the insurance front, Parekh described it as the "least understood product" and criticised "mis-selling by banks" which, he said, was driven by the lure of high upfront commissions. While HDFC Bank, in April this year, crossed the ₹15 lakh crore market capitalisation mark — an elite milestone — a quieter shift has been unfolding in the private banking space. ICICI Bank has steadily pulled ahead of HDFC Bank on several key performance metrics. ICICI Bank is now seen as a frontrunner among private sector lenders in India. HDFC Bank, meanwhile, has been navigating the after-effects of the 2023 merger, which have affected its growth FY25, ICICI Bank recorded profit growth of 15%, while HDFC Bank's profits rose by 11%. Both banks registered similar net interest income (NII) growth, but ICICI had a stronger net interest margin (NIM) of 4.41% compared with HDFC Bank's NIM of 3.65%.ICICI Bank also reported 14% growth in both advances and deposits for FY25. HDFC Bank, however, saw its advances grow at nearly half the pace of its merger added a substantial loan portfolio to HDFC Bank but did not bring in a matching level of deposits. This resulted in a spike in the loan-to-deposit ratio (LDR) to over 100% post-merger. Although HDFC Bank reduced this figure to 96.5% by the end of FY25, it still faces pressure to either increase deposits or slow down contrast, ICICI Bank's LDR stood at a healthier 82.4% as of March to the elevated LDR, HDFC Bank deliberately slowed down its credit expansion during FY25 to maintain balance. The bank's management believes that improving systemic liquidity will help raise deposits going forward.A high LDR suggests a bank is lending a large proportion of its deposits, which can become a risk if too many depositors withdraw funds at once and liquidity tightens.
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Business Standard
9 hours ago
- Business Standard
Chanda Kochhar once proposed HDFC-ICICI merger, reveals Deepak Parekh
Deepak Parekh, former Chairman of HDFC, recently disclosed that ICICI Bank's then chief, Chanda Kochhar, had once proposed a merger between HDFC and ICICI Bank—years before HDFC's merger with its own banking arm. Speaking during an interaction on Kochhar's YouTube channel, Parekh recounted, 'I remember you talking to me once. I remember it very clearly. It's never been talked about in public, but I'm willing to share it now. You said that ICICI started HDFC. 'Why don't you come back home?' That was your offer.' Parekh said he politely declined the offer, saying it would not have been 'fair' or 'proper with our name and the bank and all.' The much-publicised reverse merger between HDFC Ltd and HDFC Bank was finally completed in July 2023. Parekh explained that the merger was largely prompted by regulatory expectations. The Reserve Bank of India (RBI) had classified non-banking financial companies (NBFCs) like HDFC—then managing assets exceeding ₹5 trillion—as systemically important, crossing the regulatory threshold of ₹50,000 crore. 'RBI supported us and they pushed us into it to some extent and they helped us,' Parekh said. However, he clarified there were 'no concessions, no relief, no time, nothing.' Reflecting on the final day of the merger, Parekh called it both 'a sad day and a happy day.' He added, 'It's good for the institution. It's good for the country to have large banks. Look at how large Chinese banks are. We have to be bigger, larger in India.' Parekh believes India must foster consolidation in the banking sector to build globally competitive institutions. 'Banks in India must grow through acquisitions,' he stressed. On the broader economy, Parekh flagged ongoing global uncertainty in supply chains, trade policy, and export dynamics as major worries for top CEOs.


Time of India
17 hours ago
- Time of India
ICICI sought to acquire HDFC, reveals chairman Deepak Parekh
Former HDFC chairman Deepak Parekh and ICICI Bank chief Chanda Kochhar MUMBAI: Former HDFC chairman Deepak Parekh, in a candid disclosure, said that then ICICI Bank chief Chanda Kochhar had proposed a merger between the two lenders - well before HDFC's eventual reverse merger with its banking subsidiary. During an interaction with Kochhar on her channel, Parekh said: "I remember you talking to me once. I remember it very clearly. It's never been talked about in public, but I'm willing to share it now. You said that ICICI started HDFC. 'Why don't you come back home?' That was your offer." Parekh said he declined the offer, saying "it won't be fair" or "proper with our name and the bank and all". Parekh said the eventual merger with HDFC Bank, completed in July 2023, was driven mainly by regulatory pressure. RBI had classified NBFCs like HDFC, then holding assets over Rs 5 lakh crore, as systemically important, breaching the Rs 50,000-crore threshold. "RBI supported us and they pushed us into it to some extent and they helped us," he said. However, he added that there were "no concessions, no relief, no time, nothing". Describing the day the merger concluded, Parekh called it "a sad day and a happy day". He said, "It's good for the institution. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 180k traders turn to IC Markets for optimum CFD trading conditions IC Markets Sign Up Undo It's good for the country to have large banks. Look at how large Chinese banks are. We have to be bigger, larger in India." Parekh believes that Indian banks must grow through acquisitions to become stronger in future. On broader economic concerns, Parekh cited persistent uncertainty in supply chains, trade policy, and export conditions as top CEO concerns. Calling insurance the "least understood product", Parekh criticised "mis-selling by banks" driven by high upfront commissions. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now