Non-bank lender Iden Group has launched an innovative marketing strategy aimed at its home loan customers, offering fuel discounts to those who borrow above a certain threshold.
Home buyers taking out a loan of at least $200,000 will now receive up to $1 per litre off the cost of their fuel, says Iden Group director, Barrie Gaubert.
“We appreciate that fuel is a currency that everyone understands, so we decided to provide our customers with an extraordinary fuel discount bonus.”
Customers receive 10 cents per litre fuel discount when they borrower $200,000, but Gaubert says the discount increases in increments and clients can receive up to $1 per litre off at their next fill-up.
“Our offer easily beats major supermarkets’ 4 cents per litre deal. With the supermarket programs, your fuel benefit is not linked to your expenditure. If you spend $30, you get a four cents per-litre discount and if you spend $300, you still get just the four cents per-litre fuel discount. I don’t believe that’s fair.”
Clients are free to use any petrol station they like, anywhere in Australia.
“They can also use their supermarket discount voucher and we will pay our fuel offer on top of the supermarket discount.”