Indusind Bank aims to add 10 million customers through its new app INDIE
₹5 lakh, providing flexibility compared to standard personal loans. Customers can choose the desired amount and withdraw only what they need at a given time, paying interest on the amount utilized.
The app also has a transparent rewards program, allowing customers to select preferred brands from leading e-commerce platforms and earn rewards of up to 3% per ₹100 spent. These rewards can be redeemed for cashback directly through the app or for enticing deals and vouchers.
It also allows customers to open digital savings account which offers interest rate up to 6.75% and fixed deposits that offer returns up to 7.85%. Kathpadia said that the bank will focus on porting its existing customers to the app, besides adding new customers.
It will also soon make available other products like home loans, car and scooter loans, and offer a separate app for business segment. On Tuesday, IndusInd Bank reported 21% year-on-year jump in advances to ₹3.14 trillion as of end of the September quarter.
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