The United Bank of India Shilpi Credit Card provides loan to the Shilpi, who are artists or artisans working on creative and productive activities such as clay modelling, painting, drawing, fashion designing, stone carving, weaving, embroidery work, etc. among many others under the tiny industries sector. The loan helps them in acquiring the raw materials and equipment that they need to carry out their work. United Bank of India through its Shilpi Card aids this sector get loans easily at low rates of interest.
| Type | Amount |
|---|---|
| Minimum Loan Amount | Rs.25, 000 |
| Maximum Loan Amount | Rs.10, 00, 000 |
| Loan Margin for a credit limit between Rs.25, 000 and Rs.2, 00, 000 | 15 percent |
| Loan Margin for a credit limit above Rs.2, 00, 000 up to Rs.10, 00, 000 | 20 percent |
| Service Charge for credit limit up to Rs.2 Lakhs | None |
| Service charge for credit limit above Rs.2 Lakhs | Rs.20 |
Yes, you have to provide the assets that you create using the loan as security when you apply for a United Bank of India Shilpi Credit Card. Apart from this, you do not have to provide a collateral security as the credit limit comes under the SSI sector and the bank will take Credit Guarantee Coverage for all the loans it provides.
The bank conducts reviews only for Term Loans. Renewal of the same is not required.
The bank will review your credit limit every year.
Yes, you will get a passbook with this credit card.
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