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Laghu Udhyami Credit Cards

 LUCC Scheme is for the Existing borrowers belonging to Small business units, retail traders, artisans, village industries, small scale industrial units and tiny units, professionals and self employed persons, whose dealings with the bank have been satisfactory for the last three years. Such borrowers are provided with the credit limits up to Rs. 10 lakh under the said Scheme for a period of three years. The salient features of the Scheme are given below:

 
Sr. No  Field  Content 
1 Eligible Segments  All existing customers having a satisfactory dealing with the Bank for the last 3 years, in the categories viz.
  • Small business units
  • Retail traders
  • Artisans
  • Village industries
  • Small-scale industrial units and tiny units
  • Professionals and self employed persons, etc.
2 Facility Only working capital in the form of Overdraft/ Open Cash Credit is permitted
3 Purpose To meet the credit requirements of the categories mentioned above.
4 Loan Amount Maximum of Rs. 10 lakhs per borrower.  
5 Tenor / Validity
  • Valid for a period of 3 years
  • Enhancement can be effected subject to the review within the prescribed ceiling of Rs. 10 lakhs.
6 Pricing Interest Rate linked to Bank Base Rate.
7 Security
  • Primary Security: Hypothecation of stock in trade, receivables, machinery, office equipment etc., as specified for existing limits.
  • Collateral: Existing Collateral would continue.
8  Margin 25%
 
     
     
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