IND SUVIDHA- Micro Credit Card
IND Suvidha Micro Credit Card
| IND SUVIDHA- Micro Credit Card | ||
| S.No | Parameters | Product Features |
| 1. | Purpose | To enable credit access on easier terms and through a faster process to Micro Enterprises for financing their working capital requirements/ business related expenditure.
Non-business / Personal expenditure shall not be eligible. |
| 2. | Target Group | Micro Enterprises registered under Udyam Portal that have short term and adhoc working capital requirements. |
| 3. | Eligibility |
2. DPD should not be more than 30 days. To be verified through CIC across all lenders. 3. ETB customers with / without credit exposure with at least 12 months vintage with our Bank. 4. Minimum Bank account vintage of 12 months with our bank. 5. NTB are not eligible. 6. CMR 1–5 or equivalent. If CMR not available, CIC score 730+ (or equivalent) for promoters. |
| 4. | Nature of Facility | Standalone Credit Card. (Only one card to be issued ) |
| 5. | Credit limit | Minimum Limit: Rs 10,000/-
Maximum Limit: Rs 5,00,000/- |
| 6. | Type of Assessment | ETB with existing credit exposure: 20% of existing FB limits, subject to minimum of Rs 10,000 and Maximum Rs 5.00 Lakhs.
ETB without credit exposure: 20% of (Sales or Credit Turnover in Bank accounts for last 12 Month, whichever is lower), subject to minimum of Rs 10,000 and Maximum Rs 5.00 Lakhs. |
| 7. | Security | To be covered under CGTMSE. Premium to be borne by the borrower |
| 8. | Reward Points | · Maximum 1 point valued at Re.1 for every Rs 200 spend -to be credited on every month statement. |
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