HDFC Bank has launched a 1st-of–its-kind product for the armed forces. Called ‘Shaurya KGC Card’, this product comes with never-seen-before features and eligibility criteria specially crafted for over 45 lakh Indian armed forces personnel.
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A first-of-its-kind product for over 45 lakh Indian armed forces personnel, it is based on the Kisan Credit Card guidelines by the government, the lender said in a statement.
The credit card comes with a life cover of Rs 10 lakh as against Rs 2 lakh for an average card.
It will provide finance for agricultural requirements like production of crop, post-harvest maintenance and consumption needs. It can also be used to purchase farm machinery, irrigation equipment or construct storage structures.
The tri-colour themed card is for Army, Navy, Air Force and para military forces. This is a part of the bank’s ‘Har Gaon Hamara’ initiative.