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Home >> Loan >> Loan schemes for minority community >> Other Loan Schemes  >> >> Laghu Udhami Credit Card-Oriented business Card Scheme(OBCS)
Laghu Udhami Credit Card-Oriented business Card Scheme(OBCS)
     
 
Eligibility :
Persons engaged in activities like small business units, retail traders, artisans, village industries, small scale units, professional and self employed persons etc.
 
Amount of Loan :
Maximum loan up to Rs.10.00 lac per borrowal account.
 
Margin :
10% -
 
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Validity of card :
Oriental Business Card limit will be valid for 3 years, The account will be reviewed on yearly basis through a simple process note, already in vogue.
 
Security :
Loan upto limit of Rs.25000/- : Hypothecation of assets created out of Bank funds under Oriental Business Card
 
Loan Over Rs.25,000/- and Upto limit of Rs. 10.00 lacs :
 
Primary security : Hypothecation of assets purchased by Bank funds.
 
Collateral security : No Collateral security is to be obtained in case of Artisans (Permissible maximum credit limit per borrowal account is Rs. 2.00 lac). No Collateral security is to be obtained in case of Micro and SE Sector, Small Scale Service & Business (Inustry-Related) Enterprises-SSSBEs where per borrowal credit limit is upto Rs. 5.00 lac, however, cover under CGTMSE must be obtained in these cases.
 
In all other cases (except those mentioned above), collateral security in any shape equal to the limit under scheme shall be obtained).
 
Repayment :
Within 5 years.

 
 
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