Cash Credit Loan
| For Proprietorship,partnership,Pvt Ltd., Public Ltd. Companies. | |
|---|---|
| Type of loan | Cash Credit / Overdraft |
| Purpose | Working Capital |
| Repayment | On demand ( Renewal every year) |
| Mode of Repayment | Annual Review/Renewal of facility but repayable on Demand. |
| Margin | 40 % in favour of Bank |
| Rate of interest | As per Bank's policy (Minimum 10.50 % to Maximum 13.50% * Terms conditions apply) |
| Who can borrow | Proprietorship,partnership,Pvt Ltd., Public Ltd. Companies. |
| Loan amount | Need based - within the Bank's Exposure limit |
| Security | Hypothecation of stock & book debts upto Rs. 15.00 Lakhs |
| Collateral | CC/OD limit More than Rs.15.00 lakhs (Immovable property / Govt. Securities such as NSC/KVP, LIC policy and Term deposit of our Bank as a collateral Security) |
| Guarantors | Two acceptable guarantors |
| Subscription of bank's shares | 2.5 % of the loan amount |
| Processing charges | 0.50% of sanctioned loan amount |
| Other charges | As per Bank's policy |
| Pre-payment charges | No pre closure charges |
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CASH CREDIT LOAN
12.5% for Stock & Book Depts, 12% for Stock, Book depts & 60% Colleteral
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