Installment based purchases at an all-time high says HDFC Bank
HDFC Bank said that buying high values assets through instalments was at an all-time high
A ‘bullish’ trend seen in monthly instalment based credit card purchases because of the heavy job loss and salary cuts.
India’s largest private sector lender HDFC Bank said that buying high values assets through instalments was at an all-time high.
HDFC Bank is tying up with merchants and manufacturers all across to reduce the prices so that customers get a cheaper deal.
These kinds of transactions will likely stimulate the market as they increase consumption.
In a meeting with bank employees, Chatterjee said, “Credit card EMIs are at an all-time high. So, customers are choosing to do larger spend by breaking them up into simple EMIs. That is helping consumption.”
