Credit Cards for Small Business - IDBI Bank SME Credit Card
IDBI Bank’s LUCC Scheme is for the existing borrowers belonging to micro and small individual units, retail traders, artisans and village industries, professionals and self employed, whose dealings with the Bank have been satisfactory for the last three years.
All existing customers having a satisfactory dealing with the Bank for the last 3 years
Only working capital in the form of Overdraft/ Open Cash Credit
To meet the credit requirements of the borrowers mentioned above
Maximum of Rs. 10 lakhs per borrower
Tenor / Validity
Repayment on demand, however limit would be valid for a period of 3 years
Interest Rate linked to Bank Base Rate and Rating.
Hypothecation of stock in trade, receivables, machinery, office equipment etc., as specified for existing limits