Objective The objective of the scheme is to provide hassle free credit to Bank’s customers based on the assessment of cash flow without insistence on security, purpose or end use of credit. This is in nature of cash credit with no end use stipulations.

Eligibility    Bank’s individual customers with sources of adequate income in rural & semi urban areas

Purpose of Limit   The applicant would be eligible for availment of credit facilities provided under GCC, as per the requirement, without any insistence on security and the purpose or end use of the credit

Extent of Limit: The limits may be fixed on assessment of income and cash flow of the entire household. However, the total credit facility under GCC to an individual should not exceed Rs.25000/-.

Interest rate         11%. 

Nature of facility    The credit facility under the scheme will be in the nature of revolving credit through cash credit account. The beneficiaries under the scheme will be issued credit card affixing a photograph of the holder.

Renewal of the Cards   The cards will be valid for three years and will be renewed at least one month before expiry of the current card on a simple hand written request from the card holder.

Repayment The card will be repayable in 12 months with the stipulation that aggregate credits into the account during 12 months period should at least be equal to maximum outstanding in the account. No withdrawal in account should remain outstanding for more than 12 months.