Vijaya Bank has introduced two credit cards ‘V-Platinum’ and ‘V-Privilege’ focusing at high net worth individuals (HNIs) and term deposit holders. Public sector lender has decided to issue 10,000 ‘V-Platinum’ cards and 5000 ‘V-Privilege’ by the end of this calendar year.
Till the date the bank has issued around one lakh ordinary credit cards and has exposure of Rs 29 crore. It has drawn up a plan to issue both the credit cards by utilizing the services of its 12,000 employee based and through its 1333 branches.
The new credit card 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. For the V-Privilege card, term deposit with the bank is the eligibility and not much importance will be given on due diligence.
