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    United Bank of India Credit Cards

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    United Bank of India Credit Cards Reviews

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    United Bank of India Credit Cards

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    Overview:

    United Bank of India was formed in the year 1950 as the United Bank of India Ltd. and was nationalized in the year 1969. Today, they are one of the leading banks in India with 174 branches and 35 Regional Offices. The bank works actively towards the development of the rural and semi – urban sectors, which has gained them the position of the lead bank in 30 Indian districts.

    The United Bank of India offers a wide range of financial products and services to their customers. The credit cards offered by them come under the MSME section and are given to customers, who are a part of the small enterprises. Through these credit cards, customers can avail loans at flexible tenures and enjoy various other benefits.

    Why Choose United Bank of India Credit Cards?

    The credit cards offered by United Bank of India are designed to benefit people from various sectors. From rickshaw owners, clay modellers, fishermen to urban sector customers, these cards are made to benefit one and all. The cards provide loans and credit to entrepreneurs and professionals, which they can use to purchase raw materials and equipment required to carry out their creative activities. These cards have very affordable interest rates, flexible repayment periods and they provide a high credit amount.

    Features and Benefits of United Bank of India Credit Cards:

    • Flexible Repayment Period – People who borrow money using their United Bank of India credit cards do not have to worry about their EMIs as these cards have flexible repayment periods
    • High Loan Amount – United Bank of India credit cards offer high loan amount to the cardholders, which they can use to invest in their businesses
    • Minimum Security – When cardholders apply for loans under the various United Bank of India credit card schemes, they have to provide minimum security and most of the cards do not require a collateral security
    • Affordable Rates of Interest – The United Bank of India credit cards have competitive rates of interest that are very affordable for borrowers
    • Loan Type – With United Bank of India Credit Cards, borrowers can opt for term loan or cash credit or both depending on their requirements
    • Purpose – Cardholders can use the loans for working capital and for purchasing equipment and raw materials required for their businesses
    • Insurance Coverage – United Bank of India provides insurance coverage to its cardholders. Through the Artisans Credit Card, the cardholders avail an insurance coverage provided that they are registered with the Development Commissioner of Handicrafts

    United Bank of India Fees and Charges:

    Charge

    Artisans Credit Card

    Laghu Udhyami Credit Card

    Swarozgar Credit Card

    Shilpi Credit Card

    Margin

    15 percent

    25 percent of Credit Limit

    No Margin

    15 percent for credit limit between Rs.25, 000 and Rs.2, 00, 000

    20 percent for credit limit above Rs.2, 00, 000 up to Rs.10, 00, 000

    Loan Amount

    Rs.2, 00, 000 (maximum)

    Rs.10, 00, 000 (maximum)

    Rs.25, 000

    Rs.25, 000 (minimum)

    Rs.10, 00, 000 (maximum)

    United Bank of India Credit Cards Rates of Interest:

    The rates of interest on United Bank of India Credit Cards are very competitive and highly affordable, allowing the cardholders to carry out their businesses without any worries

    United Bank of India Credit Cards Eligibility Criteria:

    Credit Card

    Eligibility Criteria

    United Bank of India Artisans Credit Card (ACC)

    • Artisans involved with manufacturing and production process

    • Artisans registered with the Development Commissioner for Handicrafts are preferred

    • Group of Artisans who have joined to form Self Help Groups

    • Artisans who are existing borrowers with a credit facility of Rs.2 lakhs maximum

    • Beneficiaries of other Government loan schemes cannot apply for this card

    United Bank of India Laghu Udhyami Credit Card (LUCC)

    • Existing borrowers

    • Borrowers having banking relations with United Bank of India for the previous 3 years

    • Applicants with a limit of up to Rs.10,00, 000 on working capital loan

    United Bank of India Swarozgar Credit Card

    • Small artisans, handloom weavers, self- employed individuals, fishermen, other micro entrepreneurs, etc. in metro, urban, semi urban or rural areas

    United Bank of India Shilpi Credit Card

    • Shilpi who are into creative and productive activities such as drawing, painting, fashion designing, metal works, etc. can apply provided that they have a certificate from the Sarpanch, Municipal Corporation, Sabhadhipati or Anchal Pradhan and have not prior history of defaulting

    • Existing borrowers of the bank can apply when their LUCC or ACC card expires

    • Existing borrowers under cottage, tiny and village industries

    Documents required:

    Applicants of United Bank of India Credit Cards have to provide the basic documents such as id proof, residence proof, income proof, etc. among many others along with their photographs to the bank when they apply for a credit card. The applicants of the United Bank of India Shilpi Credit Card have to provide a few other documents such as continuity letter, Demand Promissory Note, Hypothecation of the assets made using the loan and two photographs.

    Apart from the above, the applicants who renew their credit limit that is more than Rs.2, 00, 000 in value have to provide their financial statements to the bank every year.

    List of United Bank of India Credit Cards:

    United Bank of India offers the following credit cards –

    • Artisans Credit Card
    • Laghu Udhyami Credit Card
    • Swarozgar Credit Card
    • Shilpi Credit Card

    United Bank of India Credit Card FAQs:

    1. How do I apply for the United Bank of India credit cards?

      To apply for the United Bank of India credit cards, you will have to visit the nearest branch of the bank. You have to fill in the application form and provide the required documents.

    2. Will I get the option of choosing both cash credit and term loans under the United Bank of India Credit Card Schemes?

      Yes, you will get the option of choosing both cash credit and term loans under the United Bank of India Credit Card Schemes.

    3. Is there a credit limit on United Bank of India Credit Cards?

      Yes, there is a credit limit on United Bank of India Credit Cards. This limit is not the same for all the cards.

    4. What is the repayment period for term loans taken under the United Bank of India credit cards?

      The repayment period for term loans taken under the United Bank of India credit cards varies depending on the card chosen by the borrower. Generally the repayment period is 3 years and in case of the Swarozgar Credit Card, the repayment period is 5 years.

    5. Does United Bank of India provide a passbook along with its credit cards?

      Yes, United Bank of India provides a passbook along with its credit cards.

    News About United Bank of India Credit Card

    • 10 Smart Ways to Avoid Credit Card Frauds

      The Credit Card fraud can happen in a variety of ways ranging from from a low tech theft to a high tech hacking and may include risks like application fraud, lost/ stolen cards, account takeover, skimming, triangulation etc

      18th September 2014

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