Organisation : Allahabad Bank
Facility : Laghu Udhyami Credit Card (LUCC) Scheme
LUCC Scheme : https://www.allahabadbank.in/
Website : https://www.indianbank.in/
Laghu Udhyami Credit Card Scheme
Eligibility : All existing borrowers under Industries, Services & Business (ISB) sector having satisfactory conduct / dealing with the Bank for the last three years and enjoying credit limit up to Rs 10.00 lac.
Related : Allahabad Bank Akshay Krishi Kisan Credit Card Scheme : www.statusin.in/19474.html
Purpose : Working Capital : for purchase of raw materials etc.
Term Loan : for purchase of tools and equipment for carrying out production process.
Loan Amount For Small Business, Retail Trade etc: 20% of the annual turnover declared for tax purposes OR for last 12 months turnover in the operative account, whichever is higher.
For Professional & Self – employed persons:- 50% of their gross annual income as per Income Tax Return.
For Micro & Small Enterprises: As per Nayak Committee recommendations.
Margin: 25%
Security Primary : Working Capital : Hypothecation of Stocks, Book debts and other current assets.
Term Loan : Hypothecation of plant & machinery and assets financed by the Bank.
Security Collateral : Depends upon the profile of the Borrower and loan amount subject to Government of India guidelines.
Rate of Interest : Rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+5.00% p.a. with monthly rests as per risk rating of account.(For details, click on “Rate of Interest” link at Home Page)
Repayment Period : Working Capita : On demand subject to review every year.
The LUCC card issued is valid for 3 years.
Term Loan : 5 to 7 years.
Delivery Channels : All Branches.
Artisan Credit Card (ACC) Scheme :
Eligibility :
** Existing artisan borrowers enjoying credit facilities up to Rs 2.00 lac and having good dealing with the Bank.
** All artisans involved in production / manufacturing and other wise are eligible for credit facilities.
** Artisans registered with Development Commission (handicrafts) shall be given preference.
** SHG of artisans or cluster of artisans shall also be taken into consideration.
** Artisans, who availed loan through other Government sponsored Scheme, are not eligible under the ACC Scheme.
Purpose :
Working Capital : for purchase of raw materials etc.
Term Loan : for purchase of tools and equipment for carrying out production process.
Loan Amount :
Maximum Rs 2.00 lacs (Term Loan / Working Capital)
Margin :
Working Capital : 20%
Term Loan : 10% of the project cost (minimum).
Security Primary :
Working Capital : Hypothecation of Stocks, Book debts and other current assets.
Term Loan : Hypothecation of plant & machinery and assets financed by the Bank
About Us :
To put the Bank on a higher growth path by building a Strong Customer-base through Talent Management, induction of State-of-the-art Technology and through Structural Re-organization.
To ensure anywhere and any time banking for the customer with latest state-of-the-art technology and by developing effective customer centric relationship and to emerge as a world-class service provider through efficient utilization of Human Resources and product innovation.