State Bank of India (SBI), India’s largest Bank has announced a partnership with Thomas Cook India to offer the Thomas Cook Holiday Savings Account (HSA) to it’s customers.

 

Through this offering, SBI’s Online Banking customers will be able to pre-select a holiday from Thomas Cook and save for it through a recurring deposit with the Bank. The offer is a top up installment at the end of the period from Thomas Cook India. Customers will be offered an inflation-proof holiday as they pay for a future holiday at today’s prices while earning interest on the linked e-Recurring Deposit. Should they change their mind due to a change in circumstances they can always opt out of the holiday package at any stage at zero cost. Those who stay invested will receive a final top up from Thomas Cook India.

 

The Holiday Savings Account involves a simple online process:

  • Select the holiday package from Thomas Cook India’s portal and

  • Log-on to www.onlinesbi.com to start a recurring deposit account with SBI based on the cost of the holiday.

 

 The cost of the package tour is split into 12 monthly installments with a free 13th installment via a combination of accrued interest and a top-up from Thomas Cook India.  The Thomas Cook Holidays offered are all inclusive packages (Domestic and International) with return airfare, transfers, accommodation on twin share basis, all meals, sightseeing and taxes.

 

Mr. Rajnish Kumar, Managing Director (National Banking Group), SBI


Mr. Rajnish Kumar, Managing Director (National Banking Group), SBI, said  “We find that people don’t plan their holidays in advance and end up taking last minute loans to finance the same. Also, they could’ve have saved on the cost of the holiday had they booked early. To encourage planned savings and advance booking, we are pleased to partner with Thomas Cook India, one of India’s leading travel companies to offer our customers the HSA.”

 

In keeping with our mission of being the Banker to Digital India, the entire process is online with zero paperwork. We are certain that our customers will find good value in this product and enjoy their holidays booked through this." Mr. Kumar added.

 

Mr. Madhavan Menon, Chairman & Managing Director, Thomas Cook India, said, “We are delighted to partner with State Bank of India, India’s  largest bank, to extend the reach of our unique Holiday Savings Account via over 25 million users of SBI’s online platform.”

 

“The unbeatable advantage of paying for a future holiday at today’s prices, ensures SBI’s customers a powerful proposition of an inflation-proof holiday while enjoying attractive interest rates, a zero exit clause and a free top up from Thomas Cook on the 13th month!”Mr. Menon added.

Courtesy by www.newsvoir.com

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