Agri General Purpose Credit Card
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Objective
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To provide liquidity to meet any financial needs relating to Agricultural Investments or Consumption.
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Eligibility
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Customers in rural and semi-urban areas, members of Self Help Groups and Joint Liability Groups
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Purpose
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For any genuine purpose
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Amount
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Maximum limit Rs.1 Lakh
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Margin
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Margin up to Rs. 50,000/ -- Nil
Above Rs.50, 000/- -- 10 to 15 %.
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Security
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Nil
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Repayment
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The GCC is valid for Three Years subject to an annual review.
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Holiday Period
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NA
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Rate of Interest
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Varies from Time to time. Presently one year MCLR+1.40%.
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Remarks
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- It is based on assessment of cash flow.
- It is a Cash Credit.
- No card issued & no Cheque book or Pass book issued & withdrawal by loose cheque.
- Women given preference
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For other details, please contact your nearest IOB branch.
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