United Bank of India Artisan Credit Card

The features and benefits associated with United Bank of India artisan credit card are:

• The card is offered to all artisans who are involved in the manufacturing or production processes registered with the government institutes like the Development Commissioner
• The maximum loan amount that may be availed under this scheme is Rs. 2 lakh. However, the bank will decide the loan amount on the basis of the guidelines set by the government
• The margin of credit for United Bank of India Artisan credit card is just 15%
• The working capital loan is provided as a revolving cash credit which will be reviewed by the bank on a yearly basis.
• The term loan tenure is 3 years
• Insurance for accidental death is provided
• Coverage under group insurance is provided and the government pays 60% of the premium
• The bank provides insurance for assets purchased with a value over Rs. 25,000

The fees and charges associated with United Bank of India Artisan Credit Card will be shared by the bank at the time of application.

The eligibility criteria for United Bank of India Artisan Credit Card are:

• All artisans involved in production or manufacturing process
• Preference is given to Artisans registered with Development Commissioner of Handicrafts
• Self Help Groups are also eligible
• Existing artisan borrowers who have maintained good relationship with the bank and have a credit limit up to Rs. 2 lakh

Applicants for United Bank of India Artisan credit card can apply for it by visiting the nearest branch. Once there the customer can contact a bank official who will guide them through the process.

Q. Who can apply for United Bank of India Artisan Credit Card?

Indian citizens who are engaged in a skilled trade, especially one which requires making things by hand can apply. Additionally, artisans who are registered with the government will be given preference.

Q. What is the rate of interest charged on the United Bank of India Artisan Credit Card?

The rate of interest on the loan taken from United Bank of India Artisan Credit Card will be disclosed by the bank at the time of application of the loan. Also, the interest rate may change as per the directions of Reserve Bank of India or the Head Office’s guidelines.

Q. What is the maximum loan amount that may be acquired through United Bank of India Artisan Credit Card?

The maximum loan amount that may be availed through United Bank of India Artisan Credit Card is Rs. 2 lakh.