Cash Credit Loan

• Purpose :
  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.