Allahabad Bank was established in India on 24th April, 1865 and it is one of the oldest Joint Stock Banks in India. It focuses on key areas such as Trade, Organized industry and Banking. Allahabad Bank was nationalized in the year 1969 and it currently has around 151 bank branches across India. This Bank has had various achievements and milestones in its century’s old existence in India, and one among them being the formation of its subsidiary AllBank Finance Ltd. in 1991.
Allahabad Bank offers different credit cards to several Medium and Small Enterprise individuals to fulfill their credit requirements. The cards are featured with multiple benefits and are available to certain individuals subject to their eligibility criteria. Allahabad Bank Weavers Credit Card is one such credit card scheme which offers financial assistance to weavers and ancillary workers for meeting their credit requirements. It also fulfills their working capital requirements to purchase tools and equipment in order to conduct the weaving activity.
Not everybody is entitled to enjoy such benefits which a borrower gets onto their Allahabad Bank Weavers Credit Card.
1. Weavers Credit Card has been especially designed for the weavers and ancillary workers occupied in weaving activities for meeting their credit requirements.
2. The maximum individual limit is Rs.2.00 lac.
3. There is no margin limit set by the bank upto Rs. 25,000/- whereas there is only 20% margin limit for the amount above Rs.25,000/-
4. Up to Rs. 2 lakh as term loan or working capital to purchase tools and raw materials
5. Eligible individuals can apply for an Allahabad Bank Weavers Credit Card (WCC) from any semi-urban and rural branches of Allahabad Bank.
6. The repayment on credit on working capital will be stated by the Bank and is subject to review each year. This credit card is issued for a 3 year period.
7. Tenure on the term loan on this credit card ranges from 5 years to 7 years.
To apply for a Weavers Credit Card, you have to pay fees and charges applied by the Allahabad Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from Allahabad Bank i.e joining fee, annual fee, interest rate, late payments charges etc.
|
TYPE |
CHARGES |
|
Rate of interest |
9.7% to 11.2% per annum |
|
Joining Fee |
NIL |
|
Annual Fee |
NIL |
|
Maximum loan amount |
Rs.2 lakh |
Allahabad Bank Weavers Credit Card Eligibility Criteria
Before applying for a Weavers Credit Card from the Allahabad Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. You will get your credit card very soon if you meet all the required eligibility criteria once the documentation is done.
This credit card can be availed by weavers and other ancillary workers who are involved in weaving activities.
Those weavers who are recognized under the 3rd Census of Handloom weavers which is conducted by the Development Commissioner, Handlooms, are given preference by the Bank.
The Bank intends to provide finance to weavers and ancillary workers who are a part of SHGs/ Societies/Consortia/Joint Liability Groups/ Producer Companies, etc.
The existing customers of Allahabad Bank who have availed credit facilities and have a good banking history are eligible to apply for this credit card.
Any applicant who is applying for a Weavers credit card from the Allahabad Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the credit card.
1. KYC Documents = PAN, address proof and ID proof
2. Coloured photograph
3. Income Proof = Last 3 month salary slip
4. Last 3 months bank statement
5. ITR or Form 16
Allahabad Bank Credit Card Login
Cardholders of Allahabad Bank Credit Card can log in to their credit card account through following steps :
1. Visit the official website of Allahabad Bank and click on “Online Banking” option under “Digital Banking”.
2. On the next page, click on “Login” under “Personal Banking”.
3. Now click on “Continue to Login” and on the next page enter the User ID and password and click on “Login”.
There are two reason to apply for Allahabad Bank Weavers Credit Card :
1 Offline Method : By visiting the nearest branch of Allahabad Bank
2. Online Method :
First of all, log in to Allahabad Bank's website www.allbankonline.in.
Now you have to go to the ATM Services shown in the Service Offerings on the front screen and
Then click on the option with Credit Card Request.
Allahabad Bank Weavers Credit Card Customer Care
Contact number : 18005722000
Email id : customercare@allahabadbank.in
1. Log in to your Allahabad Bank account or your savings bank net banking account.
2. Select the tab of 'credit card' and click on the 'bill payment' option and enter the bill amount.
3. The money will then be debited from your account sending you a confirmation through email.
4. If you do not hold an Allahabad Bank account, log in to your savings net banking account.
5. Click on the credit card tab and select the 'payment' option. Once done, the money will be debited.
Bank offered Financial Products
Allahabad Bank Weavers Credit Card is one such credit card scheme which offers financial assistance to weavers and ancillary workers for meeting their credit requirements. It also fulfills their working capital requirements to purchase tools and equipment in order to conduct the weaving activity.
The renewal fee of the Allahabad Bank Weavers Credit Card is NIL.
The interest rate is 9.7% to 11.2% per annum provided by Allahabad Bank Weavers Credit Cards.
You can apply for an Allahabad Bank Weavers Credit Card through online and offline by visiting the nearest bank branch.
You can contact through customer care toll free number and also through e-mail id for Allahabad Bank Weavers Credit Card.
The joining fee of the Allahabad Bank Weavers Credit Card is NIL.
Last Updated on : 13/Oct/2020Know More About CREDIT CARDS
You're eligible for a Allahabad Bank Weavers Credit Card if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Credit Cards is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account