Cash Credit Loan
For Working Capital Requirement / Business Purpose
- Eligibility :
Businessmen with satisfactory background
- Margin :
30% for manufacturers
40% for Traders
- Rate of Interest :
Vary as per case to case from 14% to 16%
- Security Prime / Collateral :
Hypothecation of Stock & Book Debts or Machinery
Equitable / Registered mortgage of immovable property
- Guarantee :
Two competent guarantors acceptable to bank.
- Processing Charges :
0.5% of the loan amount applied.
- Shareholding :
2.50% of loan amount
- Documents Required :
I. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
II. Last 2 years profit & loss, ITR copies of last 3 years, balance sheet and bank statement of business account for last 6 months.
III. Other documents required by bank as per the proposal.