Allahabad bank along with state bank of India is one of the oldest bank, was established in India on 24th April 1865. Allahabad bank is known for offering financial services on key areas like banking, trading, organized industry and other once. Bank was nationalized in the financial year 1969 and currently offering its services across the country. In 1991 bank merge its subsidiary Allahabad bank finance ltd to increase its financial revenue. Bank also offers special financial support for MSME (Micro Small and Medium Enterprise) to make country financial condition even better and dynamic. Allahabad bank avails credit cards for current and new customer as per their current financial stratus.
1. Allahabad Bank Artisan Credit Card (ACC): Allahabad Bank Artisan Credit Card (ACC) offers benefits on working capital like purchase of raw material, credit for purchase of devices and equipment too. Customer will be eligible to borrow amount against the credit they have earned from their card by performing transactions.
2. Allahabad Bank Weavers Credit Card (WCC): For all small scale ancillary workers and respective weavers may earn maximum privileges and earn maximum rewards without any difficulty. Apart from them person who belongs to joint liability groups, individual who is part of a group, consortia, SHGs based institutions, producer, companies, societies are eligible to apply for rewards and available credits through which they can easily by machinery items, decorative plants or other required materials.
3. Allahabad Bank Laghu Udhyami Credit Card (LUCC): Allahabad Bank Laghu Udhyami Credit Card (LUCC) is suitable for someone who belongs to retail based trade category, self employed or business man, owing small business, owning micro or small finance enterprises. Main motive of this card is to offer financial support by offering enough working capital which will allow them to buy required material like raw materials, device equipments to expand their trade in respective areas. Customer is free to avail loan against the credit they earned as per their eligibility. Sometime amount can be borrowed to increase the turnover of the company.
1. Accessibility: Existing as well as new eligible customers are free to apply for Allahabad Bank Credit Cards from their native or nearest branch.
2. Loan Margin: With Allahabad Bank Artisan Credit Card customer can avail 10% loan margin against the product cost and up to 20% on working capital. Other credit card offered by the bank also avails loan amount between 20-25% against total borrowed capital.
3. Primary Security: To avails capital form bank, customer has to provide credit legal credit and asset like stocks and debts.
4. Security/Collateral: As per current profile on bank customer need to prove some collateral or security to bank regarding approval of amount borrowing request.
5. Loan Quantum: Use of Allahabad Bank Artisan Credit Card can easily avails INR 2 lakhs and other card avails loan worth 20% of annual income of applicant. Self employed professional are eligible to avail up to 50% of their annual turnover.