The Debit Card Cash Back offers are getting interesting day by day. Each Bank is trying to innovate.
The basic principle is same a) minimum qualifying amount b) maximum cap per card
The differentiators are in the marketing campaigns.
Indusind bank too has rolled out a Debit Card Cash Back offer from 01/10/2011 to 31/12/2011.
Minimal details of the program can be viewed @
The key differentiator here is that the cash back amount is the last 2 digits of the Rupee value in the transaction.
- The quantum of Cash Back would be “last two Digits” of the Rupee Value of the Total Transaction. When the last 2 digits of the Rupee Value are “00” the Cash Back for the Transaction would be Rs 100. This is illustrated with examples below:
- Transaction Value on eligible MCC (Rs.)Cash Back(Rs.) - last two digits of the Rupee value2688.22883397.21974200.07100
The gate limit is Rs2500/-, and the limit is 10 eligible transactions per card, during the campaign period. This translates a cash back of Rs1,000/- for a spend of Rs25,000/-.
Well, this is in line with other ‘Cash Back’ offers in the industry.
Indusind Bank is part of the Hinduja Group. Hinduja Group has varied interests in Banking & Finance, Transport, Energy (Oil & Power) as well as the new economy of Technology, Media and Telecom.