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Axis Bank launches products for the youth, women homemakers

Along the similar lines, HDFC Bank has credit cards specifically for doctors and teachers

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Tania Jaleel Mumbai
Last Updated : Jan 21 2013 | 5:46 PM IST

Axis Bank today announced the launch of two new products designed specifically for the youth and for women homemakers.

“We have spent a lot of time understanding these consumers segments and bringing financial products suited to their needs. The youth today, need a savings account that simplifies banking and delivers through technology. The Homemakers on the other hand run their homes on cash, and have little involvement with savings accounts. Their needs are more related to shopping, easy cash withdrawal and a safe place to save their extra money”, says Manisha Lath Gupta, Chief Marketing Officer, Axis Bank

The ‘YOUth Account’, is a savings account for the youth segment in the age group of 18-25 years, especially the student population and it comes with no minimum balance stipulation. One can pull funds from a linked account. This feature allows the customer to pull money up to a pre-set limit from linked accounts in Axis Bank which could be a parent/ guardian account, through internet/ mobile banking.

YOUth Account holders can transfer funds through their YOUth Mobile App to other accounts in Axis Bank just by knowing mobile numbers of beneficiaries. Customers can avail of offers and discounts on online retail websites, movies and other popular hangouts.

While, the ‘Ladies First Card’ is a debit card that allows homemakers to manage their household expenses better. It also comes with a Spends Tracker that allows users to track their monthly expenses. The money can also be easily loaded on the card for use through the month.

Balance on the Ladies First Card earns four per cent interest a year. Customers will also get reward points and avail of offers on spas, travel and so on.

Along the similar lines, HDFC Bank has credit cards specifically for doctors and teachers.

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First Published: Nov 09 2012 | 2:38 PM IST

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