SBI Unnati credit card
Great news for all, with SBI is offering credit cards to the customers who maintain a minimum of Rs 20000 to Rs 25000. This means they are not looking for your credit details other than the sum that is maintained in the account of the customers. This is certainly going to be an advantage for every customer who want to achieve a credit card, however had been turned down since the terms did not match. It could be low account balance or anything related to the other credit issues, which came up after the application had been proceed.
How was the plan initiated?
- Good to know that this policy has been initiated with the joint venture between Arundhati Bhattacharya of SBI and the SBI Card department.
- This initiation came only after the hike in the stake of the bank to 74 %. The stake was bought by SBI from its partner amounting to Rs 1,168 crores
- GE Capital will be selling out the remaining stakes to one of the private equity investor later.
- Unnati -SBI Cards will be offered to its customers allowing and encouraging the digital payment with no annual fee for a span of 4 years.
What does Arundhati Bhattacharya has to say to it:
- As stated by Arundhati Bhattacharya the financial organization offering credit cards to the customers have been facing quite a threat in the issuing of credit cards since after the screening of the applicants for their credit cards most of them are rejected due to the problems in the credit history of the applicant.
- This according to her will help a person to make the credit history proper and since the cards are offered after checking out the account balance of the person, will actually help in bringing back the total financial factors in shape, since every other person love to achieve the privilege of the credit card.
Reaction of others for initiating the policy:
- According to Mr Jasuja SBI with more than 20000 branches is ready to launch the offer form the 1st of April it will be bring in all the associated banks to get merged with the PSU. This is going to be a gigantic step to bring in all the smaller branches under one big umbrella.
- Not only that the where only 5% of all the SBI customer owns the credit card will see the growth rate of the number of customers by nearly 1.5 crores. This will pull up the rate of the person carrying a credit card which will generate in improving the total financial status of the country, giving a pivotal change in the economy of the country.
- Jasuja went on to say that the branches need not bother about anything checking out the account balance of the applicant. However the credit limit varies according to the scale of the sum which is maintained by the customers.
The benefit that the customer gets:
- It has been mentioned the cardholders will get the benefit of using the credit cards in the patrol pumps and also get the reward of gathering points on every Rs 100 that they pay with the credit card which can be redeemed later.
- Hence to get the privilege of getting the bonus point people would go for more usage of the credit cards rather than paying in cash. This again would actually work up for the spree of going cashless and helping one to improve the change in the economic condition and the policies of the country.
- This will be effective to maintain a standard of maintain a standard amount of money in the bank which is again going to help in the financial policy of the country as mentioned by Ms Bhattacharya.
Hence this is quite a relaxing factor for the customers who have been rejected while they have applied for the credit card.