21. General Credit Card Scheme (GCC)
Purpose
The scheme is to provide hassle-free credit to our customers based on the assessment of cash flow without insistence on security, purpose or end-use of the credit.
Eligibility
i. All our existing customers with the branch having satisfactorily conducted deposit accounts including no frills deposit accounts in our books; say, for the last 6 months, or so, and / or loan accounts classified as standard assets will be eligible for availing loan under the scheme.
ii. GCC facility should, however, not be extended to the KCC borrowers.
Loan amount: Maximum Rs 25000 /
Security: Nil
Repayment
Account will be in the nature of cash credit. The outstanding amount in the GCC should be cleared in full when the applicant is fluid with cash which may be at yearly/ half yearly / quarterly / monthly intervals based on the occupation of the applicant / his family. In case the entire amount is not repaid a minimum of 20 % of the amount due along with upto date interest debited should at least be repaid.
| Source: http://www.statebankofindia.com/portal/agri |
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