The public sector lender, Vijaya Bank has introduced two credit cards, ‘V-Platinum' and ‘V-Privilege' targeting at term deposit holders and high net worth individuals (HNIs).
Mr. H S Upendra Kamath, Chairman and Managing Director of Vijaya bank while launching the two credit cards said, "We have to target to issue 10,000 ‘V-Platinum' cards and 5000 ‘V-Privilege' by the end of this calendar year".
Mr. Kamath added, "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".
The bank has drawn a plan to issue both the credit cards by utilizing the services of its 12000 bank employees and through its 1333 branches.
General Manager of Vijaya Bank, Mr. Satheesha A.S, explaining the features of the two credit cards said, "'V-Platinum' comes with minimum limit of 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".
These cards have a revolving credit limit with a minimum of 25% of the billing available.
Mr. Satheesha for the ‘V-Privilege' card, said "Term deposit with the bank is the eligibility and not much importance will be given on due diligence."