Andhra Bank
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Toll Free Number : 1800 425 1515

 
AB Laghu Udhyami Credit Card (LUCC) Scheme
 
  Purpose


To met the credit requirements of Small Business, Retail traders, Professional and self employed persons,  Artisans & Village Industries, Micro and small enterprises.

 
  Basis of assessment


Small Business & Retail Trade-20% of annual turnover Professional & Self employed: 50% of gross annual income as per IT Return Micro & Small (Mfg): 20% of the projected Annual sales turnover with a minimum margin of 5% of the turnover.

 
    Quantum of  finance


Maximum upto Rs.10.00 lakhs per borrower

 
  Margin

25%
 
 
  Security


Hypothecation of Stock in Trade, Receivables, Machinery, Office equipment etc., as specified for existing limits

 
  Collateral Security & Third party Guarantee


The existing securities along with Co-obligation/Guarantee may be retained while converting the account to LUCC account.

 
  Validity


3 Years subject to annual review