Eligibility

Any Businessman  - Proprietorship firms/ Partnership firms, Pvt. Ltd. Company etc.

Type of facility

Cash Credit

Rate of Interest

 Loan Amount

Interest Rate

upto 5 lac 

12.50% p.a.

5 lacs to 25 lac

12% p.a.

Above 25 lac

11.50% p.a.

Margin       

Minimum 25% against stocks and 40% against book debts in  Bank's favor

Repayment period

1 year

Security

Prime Security – Hypothecation of Stock, Book Debts or Machinery

Collateral Security – Equitable/ Registered Mortgage of Immovable Property.

                     And / Or 

Liquid security in the shape of Life policy, Government securities, Bank  FDR,  of equitable value . 

Purpose

For Working Capital Requirement / Business Purpose

Other Conditions

-      Submission of Monthly Stock Statements (Stock/Debtors/Creditors Statements)

-      Full Insurance of Stock & Immovable Property with bank’s clause.

-      Drawings as per D.P. limit

-      Share linking @ 2.5%

-      2 Credit worthy guarantors

-      ITR copies of last 3 years, Balance Sheet , Profit & Loss Statements, Business Account Statement for last 6 months

-      Other documents required by bank as per the proposal