Canara Laghu Udhyam Credit Card: Easy Credit for Small Enterprises

Total aggregate limit including the one under the scheme should not exceed Rs.10 lakhs – Eligible borrower should have satisfactory dealings with the Bank for the last 3 years – Parties with continuous satisfactory dealings for a minimum of 3 years but not having any liability are also eligible.

• Customer Identification proof along with NF998 MSME application.
• Address Proof of unit and promoters.
• License/permissions.
• Financial papers for the last 3 years with ITR and projections.
• Details of Guarantor with proof of assets.
• Stock Statement.

Rate of interest as per prevailing guidelines of the Bank linked to RLLR of the Bank, subject to changes from time to time

Minimum ROI: RLLR p.a,

Maximum ROI: RLLR+1.00 p.a subject to risk rating and collateral value.

• RLLR Linked Interest Rates on Loans under MSME Lending.
• Service Charges.

• No need to submit monthly stock statements upto Rs.2 lakhs Above Rs.2 lakhs, simplified monthly stock statements and detailed stock statements annually. Laminated LUCC cards will be issued