The Hindu Business Line : UTI Bank launches gift card

UTI Bank on Monday launched UTI Bank Gift Card — a rupee denominated, non-re-loadable card — based on the VISA platform with a validity of two years. "The minimum load amount will be Rs 1,000 and in multiples of Rs 100 up to a maximum load amount of Rs 50,000," said a press release by the bank.

A customer buying the card has to pay one per cent of the amount loaded on the card or Rs 100, whichever is higher, said Mr Hemant Kaul, President-Retail Banking, UTI Bank. The card can be used in India at over 1,30,000 visa-enabled merchant outlets. It will be sold to the customers as an alternative to cash, gift cheques or gift vouchers. It can also be purchased by outsiders.

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