General Cash Credit Card (GCC)

Purpose: To provide hassle-free credit to customers from rural and semi-rural centres based on their cash flow without insistence on security, purpose and end-use of the credit. This is in nature of overdraft with no end-use stipulations.

Eligibility: GCC can only be extended to individuals who are residents of rural and semi-urban areas and having legitimate source of income. No proof of income is required.

Loan Amount:

  • Maximum: Rs. 25,000/-
  • Loan amount should be based on the assessment of income and cash-flow of the entire household, subject to a maximum ceiling of Rs. 25,000/-

Operation of Account: The operation of credit limit will be as per Revolving Cash Credit basis. There will be unlimited number of withdrawals and repayments within the credit limit.

Repayment Period: Repayable on demand and limit will be valid for 36 months.

Review/Renewal: The limit will be subjected to review /renew annually or earlier when such review is considered desirable

Rate of Interest: Applicable as per prevailing rate at the time of sanction & is subjected to change from time to time.

Applicable of Interest: At monthly rest on daily reducing balance.

Margin: NIL

Repayment: Interest and other charges, if any shall be serviced monthly and other debits/drawals shall not remain outstanding for more than 12 months from date of such debit/drawal.

Security: No insistence on security except personal guarantee of the applicant.

Processing fees: NIL Pre-payment Charges: NIL

Classification: All loan sanctioned under GCC shall be classified as Indirect Finance to Agriculture under Priority Sector.