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Thursday, January 31, 2013

Vijaya Bank’s new credit cards target high net-worth individuals

Vijaya Bank has launched two credit cards ‘V-Platinum’ and ‘V-Privilege’ targeted at high net worth individuals (HNIs) and term deposit holders.

Launching the credit cards, H.S. Upendra Kamath, Chairman and Managing Director, said “We have set a target to issue 10,000 ‘V-Platinum’ cards and 5000 ‘V-Privilege’ by the end of this calendar year”

“The bank has issued around one lakh ordinary credit cards and has exposure of Rs 29 crore. But due to debit card, credit cards were not popular, hence today we have launched a variant of credit card targeted at HNIs and term deposit holders,” he added.

Vijaya Bank has drawn up a plan to issue both the credit cards by utilising the services of its 12,000 employee based and through its 1333 branches.


atheesha A.S., General Manager (credit cards), explaining the credit card features said “‘V-Platinum’ comes with minimum limit of Rs 2 lakh and no bar on maximum limit. The main criteria for issuing this card is net worth and income of the borrower in addition to KYC norms.”

This card has revolving credit limit with a minimum of 25 per cent of billing available.

For the ‘V-Privilege’ card, Satheesha said “Term deposit with the bank is the eligibility and not much importance will be given on due diligence.”

Source: thehindubusinessline


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