Again in this case you have to spend a minimum of Rs 5,000 in the offer period. You can earn a maximum if 300 points, which can be redeemed in form of cash by calling the bank’s phonebanking number. Even ICICI Bank has announced an array of offers for its debit card holders. But the offers are limited to few stores depending upon which zone you belong to. All the concerned details are available on the bank’s website
Things to watch out for
Often banks advertise cash back offers on billboards, magazines or newspapers. But you should crosscheck if the same offer is available on the card you hold. If it’s applicable then what are its other terms and conditions are. If you read the HDFC Bank’s advertisement on bank’s brochure or on the website, it clearly states, the cash back offer is only valid on debit card transactions above Rs 1,000.
Secondly, maximum cash back is limited to Rs 250 per month. So even if your highest debit card spends is above Rs 5,000, you can get only the stipulated amount. The cash back will be credit at the end of the period i.e. December. Lastly this offer is not valid on cash withdrawals from ATMs through debit cards.
Banks kick off these cash back offers only in the festive season, which starts from October and goes on till December end. So always keep an eye on the validity of the offers before you loosen your purse strings.
Many banks offer this privilege to only selected card-holder categories. Similarly some banks offer cash back as an optional facility for customers. In such cases you have to call the phone banking or fill an online form to sign up for this offer.
One more thing to watch out would be if the offer applies at all outlets having point-of-sale terminals of different banks. Some banks insist the purchases should be made only where the card-issuing bank has installed such terminals. Similarly you should see if the offer is valid across all products categories.
Lastly, check the offer period, the minimum and maximum limits on which cash backs are available. Spending isn’t necessarily a bad thing if it could bring smiles to your near and dear ones. Ensure that the bunch of plastic that usually fills your wallet is smartly shuffled and used to cut your shopping bills this season.
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