Allahabad Bank Credit Cards

Allahabad Bank Credit Card Eligibility:

The eligibility criteria for each credit card offered by Allahabad Bank is as follows:

Allahabad Bank Artisan Credit Card (ACC):

In order to be eligible for the Allahabad Bank Artisan Credit Card (ACC):

• The applicant should be an artisan and an existing customer of Allahabad Bank, with a credit facility of Rs 2.00 lakh and a satisfactory transaction history and banking record with the Bank.
• The applicant should be an artisan, who is involved in the manufacture, production and/ or other allied activities in order to be eligible for availing these credit facilities.
• Priority is given by the Bank to those who are registered with the Handicrafts Development Commission as artisans.
• Primary importance is given for artisans belonging to groups like SHGs or other clusters, when the Bank processes credit card requests.
• The Bank does not extend this credit card scheme to artisans who have taken a term loan under the provisions of another Government sponsored Scheme.

Allahabad Bank Weavers Credit Card:

• Weavers and other ancillary workers involved in weaving activities can avail this credit scheme.
• Weavers recognized as per the 3rd Census of Handloom weavers conducted by the Development Commissioner of Handlooms, is given preference by Allahabad Bank.
• Weavers and ancillary workers who are members of Joint Liability Groups, SHGs, Consortia, Producer Companies, Societies, etc. are provided finance under this scheme.
• The existing customers of Allahabad Bank who have availed credit facilities and has a good banking history are eligible to apply for this credit card.

Allahabad Bank Laghu Udhyami Credit Card (LUCC):

Those who are eligible to avail the Allahabad Bank Laghu Udhyami Credit Card (LUCC) are: Existing customers of the Bank who fall under the category of Industries, Services & Business (ISB) sector who have a credit history with the bank. They should have a good transaction record with the Bank for at least three years (latest) and must hold a credit limit of maximum Rs. 10 lakh.

List of Allahabad Bank Credit Cards:

• Allahabad Bank Weavers Credit Card (WCC) - Allahabad Bank Weavers Credit Card (WCC) for the benefit of all weavers and other small-scale ancillary workers. Also, those who are a part of groups/ institutions such as SHGs/ Societies/Consortia/Joint Liability Groups/ Producer Companies, etc. can avail credit under this scheme, to purchase assets such as plants and machinery and more.
• Allahabad Bank Laghu Udhyami Credit Card (LUCC) - The Allahabad Bank Laghu Udhyami Credit Card (LUCC) is offered to borrowers who fall under the category of Retail Trade and Small Business, Self-employed and Professionals, Micro & Small Enterprises, etc. in order to meet their working capital needs for financing the purchase of equipment, raw materials and more. The credit cardholder can also avail a loan against his/her credit card for the purpose of purchasing all necessary things to assist the process of production. With the Allahabad Bank Laghu Udhyami Credit Card (LUCC) Scheme, cardholders can also avail a loan from the purpose of improving their annual turnover.
• Allahabad Bank Artisan Credit Card (ACC) - Allahabad Bank Artisan Credit Card (ACC) scheme. It provides credit to make up for Working Capital for the purchase of equipment, raw materials, etc. and also provides loan against this credit card for the purpose of buying necessary items to assist the production process.

Allahabad Bank Credit Card FAQs:

1. What is the repayment period available on the Allahabad Bank credit cards for working capital?

   The repayment period will be specified by the Bank, for credit availed towards working capital on the Allahabad Bank credit cards. This is open for yearly reviews by the bank.

2. What is the validity of the Allahabad Bank credit cards?

   All the Allahabad Bank credit cards are valid for up to 3 years.

3. What is the tenure for which you can take a term loan against the Allahabad Bank credit cards?

   The tenure of the term loan taken against the Allahabad Bank credit cards can range from 5 years to 7 years.

4. Where can I apply for Allahabad Bank credit cards?

   You can apply for any of the Allahabad Bank credit cards from any branch of the bank.

*Note: Rate of interests and other limits are subject to change.