Hindware Home Retail today said that it has tied up with private sector lenders ICICI Bank and HDFC Bank so that customers do not have to pay interest on credit card purchases made at its home fashion retail chain — Evok stores.
This initiative has been taken to mark the first anniversary of the retail chain's inception and customers could make use of it on the company's range of home furniture, modular kitchens and bath products, Hindware Home Retail said in a statement.
Under the scheme, customers paying with credit cards for purchases made at Evok stores would now no longer have to pay interest on the credit.
"In this financial meltdown/downturn times, particularly in the retail industry, our tie ups with ICICI Bank and HDFC bank will serve our clients a relaxation in these tough times to keep envisioning their dream homes," Hindware Home Retail COO D K Jairath said.
He said the initiative would help to further enhance the reach of Evok and is an attempt to meet the day-to-day interior needs of customers.
Hindware Home Retail had started the Evok chain in 2008 with two 30,000 sq ft mega-stores in Delhi NCR. The company had also announced plans to invest Rs 250 crore to open a total of 50 such stores across the country by 2012-13.