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.

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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.”