Deutsche Bank enters credit cards business in India
By Our Banking Bureau | 26 Jul 2006
Mumbai: Deutsche Bank, which entered personal banking in India in the last quarter of 2005, today announced the launch of a full suite of credit cards in the country. The launch marks the second pillar of Deutsche Bank's consumer banking strategy in India - following the national rollout of retail banking across eight cities last year.
Deutsche Bank's suite of credit cards comprises classic, gold, platinum and corporate credit cards. As a product differentiator, Deutsche Bank cards offer the option to:
- Personalise the cards with a wide range of images
- Save with lifestyle specific savings plans and
- Flexible billing
Customers can personalise their cards by choosing from over 40 credit card designs which have been selected across categories as diverse as music, wildlife, zodiac signs, sports and child art. This feature has been introduced for the first time in India.
The Deutsche Bank gold card offers the additional option to customise the card with a choice from several savings plans structured around different key lifestyle and spend patterns. The options - 'home plan', 'party plan', 'shop plan' and 'travel plan' - says the bank, enable customers to maximise savings based on their personal usage habits. In addition to this feature, customers also have the option of choosing the billing cycle to better manage and control their finances.
Deutsche Bank's product ambassadors in India, Sunil Gavaskar and tennis icon Sania Mirza, will promote the cards in India. Gavaskar was presented the bank's first platinum credit card by Colin Grassie, CEO, Asia-Pacific, Deutsche Bank.
Speaking at the launch, Colin Grassie, said," An important element of our growth strategy in Asia is our strategic focus on the further development of our successful business in India, in both wholesale and retail banking. Today's credit card launch in India is a first for Deutsche Bank in Asia and an important milestone for our business."
