HDFC Bank Announced the Launch of Credit Card for Teachers

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HDFC Bank Announced the Launch of Credit Card for Teachers

The country’s largest credit card issuer, HDFC Bank, today announced the launch of a credit card for teachers on the occasion of Teacher’s Day.

The private sector bank said the card offers features such as multiple reward points, week – end bonanza points, petrol surcharge waiver and 500 teacher’s day special gift reward points that will get credited annually on Teacher’s Day.

According to a CSFB report, KPMG analysis, with a combined market size of more than 450 million students and a growth rate of 10-15 per cent expected over the next decade, education is one of the largest service sectors in India.

The industry is largely fragmented with over 95 per cent held in the unorganised sector.

With huge demand in investment in the education sector, total market of education institutions expected to increase to ₹ 250,000 crore by the end of 2012, the education sector will have attractive margins, the report said.

Under cards for professionals, the HDFC Bank had recently launched a credit card for doctors. The bank’s total number of outstanding credit cards as on June, 2012 stood at 5.8 million.

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