United Bank of India Laghu Udhyami Credit Card

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

• The scheme provides finance to any small business unit, artisan, retail trader, small industrial unit, village industry, or individuals who are either professional or self-employed
• Customers may get credit up to Rs. 10 lakh which can be availed as a term loan, overdraft limit or cash credit
• A margin of only 25% is applicable on this credit card scheme
• The bank seeks collateral or security for this scheme. However, the bank is willing to waive collateral or security as long as the business owner has maintained an excellent track record for the last 3 years
• The repayment period of the loan taken through United Bank of India Laghu Udhyami Credit Card is 3 years
• Insurance is given when the loan amount taken exceeds Rs. 25,000

The fees and charges associated with United Bank of India Laghu Udhyami Credit Card will be shared with the customer at the time of application.

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

• Applicants must be existing borrowers of the bank
• They must have a good relationship with the bank for at least 3 years at the time of application
• Applicants must be eligible for a working capital loan limit of Rs. 10.00 lakh

Prospective clients can go to the nearest United Bank branch to apply for the Laghu Udhyami credit card.

Q. Who can apply for United Bank of India Laghu Udhyami credit card?

Indian citizens who have maintained a satisfactory relationship with the bank for at least 3 years and are approved for a loan limit up to Rs. 10 lakh can apply.

Q. How is the credit card limit assessed?

The credit limit may be up to 20% of annual turnover declared for tax purpose or 20% of the last 12 months turnover as registered with the bank. The higher of the two limits may be the applicable credit card limit.

If sales tax returns are not available then credit limit is decided on the basis of actual turnover.

Q. What is the maximum loan limit that may be availed through United Bank of India Laghu Udhyami credit card?

The maximum loan amount that may be availed through United Bank of India Laghu Udhyami credit card is Rs. 10 lakh.