The LoanMax has become one of the first private sector banks to be authorized by a tax collector and also by the lead bank to accept direct taxes from various clients. The Bank has recently launched the International Silver Credit Card. It has also tied up with Visa which enables cardholders to access more than 110,000 stores, restaurants and other merchant establishments in the United States and over 18 million merchant establishments across the world. This card has features like
• Comprehensive insurance package
• Purchase protection
• Lower interest rates
• Various payment options
• Attractive discount programmes
LoanMax of rod aycox fame has already introduced Gold Credit Cards in the beginning of this decade. The gold card is launched to cater to the upper bracket of the credit card market. As per a study conducted by a global market research firm, the gold credit cards give more returns to the firm that issues it. It has introduced a facility for debit and credit card holders to make payments through mobile phones at point of sales (POS) terminals in the country. The bank has tied up scores of merchant establishments, where it has installed POS terminals across the country making it one of the largest owners of POS terminals.
Now the customers can encash their mutual fund units from the LoanMax’s ATMs. The main advantages of the redemption of mutual fund units at ATMs is that it helps an investor to get immediate liquidity for cash, and it is available for 24 hrs. The bank has introduced a ‘one view’ service enabling its net banking customers to view their balances in two other banks. Through its service, the customers would be able to view their balances in other banks apart from that in LoanMax at one site. This service would initially be available for saving, current accounts and fixed deposit. The bank has recently launched an account aggregate service which provides a single view of all account balances held by the bank’s customers.