State Bank of Hyderabad that is the largest associate of the State Bank of India was established in 1941 with an aim to provide customer satisfaction of the highest quality, generate maximum profits and participate in the nation’s growth. The bank believes in a team effort to accomplish all these aims.
Products Offered by State Bank of Hyderabad
Savings accounts like SBH Sahaj Plus Accounts, SBH Sahaj (small accounts), SBH Platinum SB accounts, Savings Bank accounts, Savings Plus accounts and SBH Smart Salary accounts, Current accounts, Term Deposits, Loans like car loans, home loans, education loans, consumer durables loans, etc. and credit cards like Laghu Udyami credit cards and Sworajgar are the available State Bank of Hyderabad credit cards.
State Bank of Hyderabad Credit Cards are issued in 3 forms: Laghu Udyami, Swarojgar, and Kisan Credit Card (KCC) Scheme.
Laghu Udyami
Eligibility: All existing customers of MSME category, enjoying credit limits up to Rs10.00 lakhs whose accounts with the Bank are conducted satisfactorily at least for a period of one year.
Quantum of Loan: Working capital limits maximum of Rs10.00 lakhs.
Repayment: On demand. However, a sanction will be valid for 3 years.
Margin: 25%
Security Primary: Hypothecation of assets financed out of Bank finance.
Collateral: For loan amount up to Rs.10.00 lakhs – Nil
Swarojgar Credit Cards
Objective: To provide adequate and timely credit i.e. working capital or Term Loan or Both to Small Artisans, Handloom Weavers, Fishermen, Self-employed Persons, Rickshaw owners, other micro-enterprises, Self Help Groups.
Eligibility: Small Artisans, Handloom Weavers, Fishermen, Self-employed Persons, Rickshaw owners, other micro-enterprises, Self Help Groups.
Quantum of Loan: Maximum `25,000/-
Repayment: Term Loan to be repaid in 60 Months including moratorium period
Margin: NIL
Security: Primary: Hypothecation of assets created out of Bank Finance
Collateral: NIL
Processing Fee: Nil
Kisan Credit Card (KCC) Scheme
Objective:
Kisan Credit Card (KCC) aims at adequate and timely support to the farmers for their short-term crops production credit need, which is in a revolving cash credit nature.
Eligibility:
All existing borrowers as well as new borrowers including illiterate borrowers.
Assessment of Credit Limit:
To provide adequate credit needs of farmers for production of crops, credit requirements for allied agriculture operations and other production activities, the following procedure for sanctioning credit limits:
- Production credit limit requirement.
- Working Capital requirement for allied activities.
- Ancillary credit requirement related to crop production.
- Contingent needs (Branches can allow 10% of the outlay for contingent purposes).
For calculating limits under KCC, Performa provided vide Circular No.AGR/2005-06/23 Dt.03.08.2005 may be used.
Fixation of limit:
Within the overall limit of the farmer under KCC Scheme, seasonal limits may be fixed. A farmer can make any number of withdraws and deposits within his drawing power.
Security, Margin and Discretionary powers:
As applicable to Crop Loans.
Documentation:
As applicable to agricultural advances. Documents to be obtained for the total limit, including contingency limit, if any, as fixed by the branch.
Renewal of Limits:
Limit is valid for three years subject to annual review. In case of natural calamities, the facility of re-phasing / re-scheduling is also available to KCC accounts.
Personal Accident Insurance Scheme (PAIS) for KCC holders:
All KCC holders up to the age of 70 years are covered under PAIS with a risk coverage of `50,000/-for death due to the accident caused by outward violent and visible means/Permanent total disability/Loss of two limbs or two eyes or one limb and one eye and Rs. 25,000/- for Loss of one limb or one eye (Partial disability). Premium payable is Rs. 15/- per KCC holder annually and Rs. 45/- per KCC holder for 3 years. Premium payable will be shared by the KCC issuing bank and the KCC holders in the ratio of 2:1. KCC holder should give the Nominations.
ACCIDENT INSURANCE SCHEME FOR KCC HOLDERS PERSONS COVERED:
All KCC holders up to the age of 70 years
RISKS COVERED:
- Obviously violent death: `50000
- Permanent total disability: `50000
- Loss of the two limbs or both eyes or one limb and one eye: `50000
- Loss of one limb or one eye: `25000
PERIOD OF INSURANCE:
One year from the date of receipt of premium by the insurance company, where annual premium is paid and where a 3-year premium is paid then covered for 3 years from the date of receipt of the premium.
PREMIUM:
A premium of `15/- per KCC holder annually and `45/- per KCC holder for 3 years The premium payable will be shared by the KCC issuing bank and the KCC holder in the ratio 2:1
State Bank of Hyderabad Credit Cards FAQs
What are the eligibility criteria for the State Bank of Hyderabad Credit Cards?
Laghu Udyami is made available to existing customers of MSME category, enjoying credit limits upto Rs10.00 lakhs whose accounts with the Bank are conducted satisfactorily at least for a period of one year.
In the case of Sworajgar credit cards, the aim is to provide adequate and timely credit i.e. working capital or Term Loan or Both to Small Artisans, Handloom Weavers, Fishermen, Self-employed Persons, Rickshaw owners, other micro-enterprises, Self Help Groups.
What are the Credit Cards offered by State Bank of Hyderabad?
Laghu Udyami and Sworajgar credit cards are offered by State Bank of Hyderabad.
What will be my credit limits?
The bank will assess the capabilities of the applicants and decide on the credit limits. For Laghu Udyami credit cards, the working capital that is made available will be limited to Rs.10 lakhs. In Sworajgar cards, the maximum limit is Rs.25, 000/-.
What are the objectives of State Bank of India Credit Cards?
The objective of Laghu Udyami Credit Cards is to provide credit limits up to Rs.10 lakhs to existing customers of MSME category. But they should be maintaining accounts with the bank at least for a period of one year. In the case of Swarojgar Credit Cards, the objective is to provide adequate and timely credit i.e. working capital or Term Loan or Both to Small Artisans, Handloom Weavers, Fishermen, Self-employed Persons, Rickshaw owners, other micro-enterprises, Self Help Groups.
What is the interest rate/finance charge for credit cards?
The bank will review various factors and modify the interest rates from time to time.
What are the repayment tenures of Credit Card dues?
For Laghu Udyami credit cards, repayment is on demand. But the sanction will be valid for 3 years. In the case of Sworajgar credit cards, the Term Loan is to be repaid in 60 Months including moratorium period.
