India’s largest private sector lender HDFC Bank on Friday launched “Shaurya KGC Card” aimed at serving the armed forces.
Unveiling the new product through the virtual platform, HDFC Bank managing director (MD) and chief executive officer (CEO) Aditya Puri said it is a first-of-its-kind product which is designed specifically for the armed forces.
“With this, we have an equally good product for armed forces brethren as we have for farmers. This is our Independence Day gift to our protectors. Jai Jawan, Jai Kisan, Jai Hind,” Puri said.
The new product by the lender comes with never-seen-before features and eligibility criteria specially crafted for over 45 lakh Indian armed forces personnel, the bank said.
The product is based on the Kisan Credit Card guidelines by the government. It will benefit the families of armed forces engaged in agricultural activities, the lender said.
The new Shaurya KGC Card will provide finance for agricultural requirements such as production of crop, post-harvest maintenance and consumption needs. The armed forces personnel can also avail of this funding to purchase farm machinery, irrigation equipment or construct storage structures etc.
What are the features of HDFC Bank Shaurya KGC Card?
- Life cover of Rs 10 lakh as against Rs 2 lakh for an average card
- Simple and easy documentation that doesn’t require the personnel’s physical presence to accommodate nature of his job and his availability
Who all can apply for HDFC Bank Shaurya KGC Card?
In a press statement, HDFC Bank has said, “All branches of the armed forces including those who serve in Army, Navy and Air Force, as well as Para Military Forces.”
How can the people in armed forces apply for HDFC Bank Shaurya KGC Card?
The loan facility has been designed keeping in mind the financial needs of the armed forces and can be availed by:
- Visiting HDFC Bank branches
- Applying the loan through recently launched HDFC Bank e-Kisan Dhan app
- By dialling an all-India Interactive Voice Response (IVR) toll-free number (1800 120 9655).
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