Thomas Cook India allows customers to save for their holidays with SBI
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Thomas Cook India has formed a new partnership with the State Bank of India (SBI) to launch a new online ‘Holiday Savings Account’ (HAS).
Under the new joint initiative, SBI’s online banking customers will be able to pre-select a Thomas Cook holiday and then save for it through a recurring deposit with the bank. Thomas Cook India will then provide one top-up instalment at the end of the saving period.
HAS holders will be able to earn interest on their savings, and will be able to opt out of the holiday should their circumstances change.
“We are delighted to partner with State Bank of India… to extend the reach of our unique Holiday Savings Account via over 25 million users of SBI’s online platform,” said Madhavan Menon, chairman & managing director of Thomas Cook India.
“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.”
Under the HAS initiative, customers can select the holiday package from Thomas Cook India’s website and then log in to SBI’s online banking portal to set up a recurring deposit account, based on the cost of the holiday. The cost of the package tour is split into 12 monthly instalments, with a free 13th instalment from Thomas Cook India.
The Thomas Cook packages offered are all inclusive package, so customers don’t need to worry about any extra costs.
“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 company to offer our customers the HSA,” said Rajnish Kumar, managing director of SBI’s National Banking Group.
“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.”
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