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Many congratulations !!I have got an offer in the OneCard app to upgrade to unsecured card. I had FD of 10k. Now they are giving limit of 3.6L and processing refund of FD.
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Earlier, I had SBM bank Visa card. Now it is offered in Mastercard CSB bank. I had to complete KYC again.
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WHy , you ditched their ship before?? 😉They should also allow onboarding old users 🤞
It might be they are losing customers. Also, the fd rates are around 7% which is almost above the market rateCurious to know what benefit One card gets by doing this....isnt FD backed more profitable for them?
How is it above the market rate? Almost every banks have similar rates...It might be they are losing customers. Also, the fd rates are around 7% which is almost above the market rate
8.5% (9% SEnior citizen) given by all the SFB nowadays.How is it above the market rate? Almost every banks have similar rates...
Doubt they are losing money over fd.
If they are losing customers I think they'd try to onboard new customers. Their third party merchant offers have been Amazing for the past few months or so.
Consistently giving 20% upto 500 in major departmental stores and many more. They'd rather spend on onboarding than retaining existing customers.
Anyway, either of us could be right or none of us..just my 2 cents
That means more revenue for one card/partner bank; it would mean even less that they're losing money over fd, rather making more than avg8.5% (9% SEnior citizen) given by all the SFB nowadays.
Selected ... ....one card is giving offers to many users
What was your FD amount?Got the same offer yesterday with Indian Bank as the banking partner. Hopefully it will be rupay variant.