Dhanlaxmi Bank launches credit cards

Thrissur-based Dhanlaxmi Bank on Monday entered the retail assets business with the launch of Dhanlaxmi Bank Platinum and Gold Credit cards. The cards are targeted at its premium customers, a bank release said.

Also, the bank for the first time in India is introducing a ‘Pay by Transaction’ billing mode for credit cards. Under this, instead of a monthly billing cycle, the interest-free credit period is considered for individual transactions from the day of purchase. A customer thus enjoys a 45-day interest-free credit period on each purchase and does not need to time the purchase based on the billing cycle.

Speaking at the launch, Amitabh Chaturvedi, MD and CEO, said retail asset would be an important element of the overall growth strategy and the bank intended to launch a number of innovative, customer-centric products in the coming financial year.

The bank will also provide several other benefits like 5 per cent cash back on grocery purchases, priority pass - valid for over 500 lounges and a worldwide concierge services for all its credit card customers, the release added.