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Last Updated on 25/03/2017
Credit Card (Laghu Udyami Credit Card)

Credit Card (Laghu Udyami Credit Card)
Objective To meet credit requirements of Small Business units, Retail Traders, Artisans, Village Industries, SSI, Tiny Sector Units and Professionally Self employed. 
Eligibility
Existing Other Priority Sectors, Medium and Small Enterprises dealing with us for the past 3 yrs
Purpose
For crop/ harvest  and maintenance of machinery
Amount
Limit upto Rs. 10 lacs
Margin
25 %
Security
Hypothecation  of stocks, existing collateral (may be waived on merit)
Repayment
Annual review - continuous CC
Holiday Period
NA
Rate of Interest
Up to Rs. 25,000 - 11%  

>Rs. 25,000  up to 2 lacs -- 11.50%  

>Rs. 2lacs -- 13.50%
Remarks
  • Card valid for 3 yrs
  • 25% as cash withdrawal from any branch.
  • Credit balance to get SB interest
  •  Accidental  insurance cover – premium to be shared in the ratio 3:1 between card holder and Bank.      
Additional Benefits
Accidental  Insurance  Rs. 50000/-