HSBC India also sends out these Diwali incentives each year, much like the majority of other credit card companies. Although it’s normally good, this year they went all out and sent out incredible incentives to their clients, giving them the chance to get an iPhone or iPad (guaranteed) on credit card spends and more. What you need to know is detailed below.
Offer Details :
- Offer: Spend Rs.XX and get Voucher/cashback/product
- Offer Period: 1st Oct 2022 to 10th Nov 2022
- Offer Type: Spend linked, targeted offer with 3 different milestone targets
- Excluded Spends: Insurance Spends
- Fulfilment: before 10th Jan 2023
There are a few variations included in this deal, and we only now know about a few of them. Of course, in order for you to qualify for the offer, you should have been targeted.
Offer Variant 1 :
- Target 1: iPhone 14 Pro on 20L spend (Reward Rate: 6.5%)
- Target 2: 20K Taj voucher on 6L spend (Reward Rate: 3.4%)
- Target 3: 3000 cashback on 75K spend (Reward Rate: 4%)
Offer Variant 2 :
- Target 1: iPad Air 5th Gen on 15L spend (Reward Rate: 3.3%)
- Target 2: 10K Taj voucher on 4L spend (Reward Rate: 2.5%)
- Target 3: 3000 cashback on 125K spend (Reward Rate: 2.4%)
This is perhaps the first instance in India where a guaranteed offer is being made for expensive things like an iPhone. This is a terrific initiative by the bank, and I hope that others will one day match the services that HSBC provides.
The reward rates for the other targets in 2022, aside from the Target 1, are not alluring. However, these outperform MMT coupons and Amazon Echo Dots by a wide margin. In that sense, it’s okay.