General Credit Card
Purpose:
In order to provide loans for general credit needs to our individual customers in the rural & Semi urban areas in a hassle free manner based on the assessment of cash flow of the entire household without insistence on security.

Eligibility:
The individual customer of our rural & semi urban branches is eligible for availing the loan under this scheme and the loan will be sanctioned to the KARTA/HEAD of the family. The existing borrowers who have availed loan under any other  loan scheme of the bank except loan against deposits will not be eligible under this scheme.

Validity:
The card will be valid for a period of 3 years subject to satisfactory operation of the account.

Fixation of limit:
1. Maximum limit  25,000/- per borrower
2. If the applicant is a salaried person or pensioner, 60% of the annual income will be the maximum  loan limit.
3. In case of non salaried persons, 60% of the annual income from all sources & cash flow of the entire household of the applicant borrower, ascertained by the Branch will be the maximum loan limit.

Margin:
No margin is required.

Rate of interest :
As decided by the bank from time to time.

Repayment:
The aggregate credits during the 12 months period should be at least equal to the maximum outstanding in the account.
                                                          AND
No drawal should remain unpaid for more than 12 months

Security:
No security is required.


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