Offers 5% cashback on spends on fuel at HPCL outlets
Also offers 5% PAYBACK reward points on spends on electricity and mobile, and at large departmental stores
Provides complimentary roadside assistance, airport lounge access and discounts on movie tickets
Mumbai: ICICI Bank today announced the launch of a co-branded credit card with Hindustan Petroleum Corporation Limited (HPCL) to enable users to get benefits and reward points of using multiple credit cards in one. Named, ‘ICICI Bank HPCL Super Saver Credit Card’,the card offers best-in-class rewards and benefits to customers on their everyday spends on fuel as well as other categories including electricity and mobile, departmental stores like Big Bazaar and D-Mart, and e-commerce portals, among others. Powered by VISA, the card is unique among its peers which typically offer benefits on only one category of spends.
Speaking on the launch, Mr. Sudipta Roy, Head – Unsecured Assets, ICICI Bank said, “We at ICICI Bank constantly strive to offer innovative propositions that address the growing and changing needs of customers. We are delighted to partner with HPCL to launch the ‘ICICI Bank HPCL Super Saver Credit Card’. Typically, similar credit cards offer accelerated benefits on spends in one category. This card breaks that barrier as it enables customers to save on every transaction that they make. This truly makes the card a ‘super star’ of savings. We believe that this card will empower customers to save more while enjoying the convenience of digital payments.”
HPCL Executive Director – Retail, Shri S K Suri, said“HPCL is very happy to partner with ICICI Bank to launch ‘ICICI Bank HPCL Super Saver Credit Card’ with unique offerings and rewards to enhance customer experience. This credit card will help in promoting the digital payment ecosystem at retail outlets and meet the expectations of the customers with its innovative offerings. The customer will also get additional loyalty points when they use this card on our HP Pay App.”
Customers can apply for the ‘ICICI Bank HPCL Super Saver Credit Card’ through the Bank’s internet banking platform or the mobile banking app, iMobile Pay. They get a digital card in a 100% contactless and paperless manner. The physical card is also sent to the customer by ICICI Bank within a few days. Further, customers can manage their transaction setting and credit limit conveniently on iMobile Pay app.
Additionally, they can upgrade their existing ICICI Bank credit card to ‘ICICI Bank HPCL Super Saver Credit Card’ using iMobile Pay and internet banking.
Features of the ICICI Bank HPCL Super Saver Credit Card:
5% cashback on spends on fuel at HPCL retail outlets which includes 4% cashback and 1% surcharge waiver
Additional 1.5% benefit as PAYBACK reward points on spends on fuel made through HPCL’s ‘HP Pay’ app
5% benefit as PAYBACK reward points on spends on electricity and mobile as well as shopping at large departmental stores like Big Bazaar and D-Mart.
2 PAYBACK points per Rs. 100 spent on all other categories including shopping at local stores and e-commerce portals for online shopping
2000 PAYBACK points as a joining benefit, which are credited to the customer’s PAYBACK account upon activation of the card
Cashback of Rs. 100 in ‘HP Pay’ app wallet on the first transaction made using the app worth Rs. 1000 or above
Value added benefits:
Industry first feature of complimentary 24×7 roadside assistance
Annual fee waiver on spends of Rs. 1,50,000/-
Complimentary domestic airport lounge access
Exclusive discounts on movie ticket bookings on BookMyShow and Inox
Exclusive dining offers through the Bank’s Culinary Treats programme
The PAYBACK points are credited to the customer’s PAYBACK account which is auto-created at the time of issuance of the card. Customers can then redeem these points as per their choice on the PAYBACK website, ‘HP Pay’ app, or at PAYBACK partners stores/website. They can also redeem the PAYBACK points for purchasing fuel at HPCL retail outlets.
About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹15,73,812 crore at March 31, 2021. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.
About Hindustan Petroleum Corporation Limited:Hindustan Petroleum Corporation Limited (HPCL) was formed on July 15, 1974. HPCL is a Maharatna Central Public Sector Enterprise (CPSE) and a S&P Platts Top 250 Global Energy Company with a ranking of 54 with Annual Gross sales of Rs. 2,69,243 Crore during FY 2020-21. HPCL enjoys over 18% market share in India and has a strong presence in Refining & Marketing of petroleum products in the country. During 2020-21, HPCL recorded Profit after Tax (PAT) of Rs. 10,664 Crore.
Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward – looking statements intended to qualify for the ‘safe harbor’ under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward – looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward – looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non – performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward – looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at http://www.sec.gov