Cash Credit Loan

We provide Cash Credit Limit to meet, the working capital requirements based on your current and future expansion plans against the underlying securities i.e. Equitable mortgage of the property, Stock. We help you to meet your everyday operational fund requirements and immediate business obligations.

Funds are provided based on the underlying operational efficiency of the company/firm/unit and integrity.

Key Points

  • Interest is to be paid only on the outstanding balance
  • Low rate of Interest.
  • Security required as per Banks Prescribed norms.
  • Other conditions in line with working capital finance points.

Other Features

  • Personalized service and assistance by our Bank.
  • Assessment on easy terms and conditions.
  • Working capital finance not to be used for buying long term assets or investments.
  • Adequate Drawing power to be maintained.
  • This facility is subjected to renewal / revival once in Two years.
  • Priority sector advances are encouraged.
  • Eligibility calculated as per requisite Working capital.
  • Service Charges and Share money will be as applicable.
  • Collateral security required as per Banks Prescribed norms.


Security

The cash credit advances shall be granted by the bank against following securities:
  • Against the personal sureties of two guarantors acceptable to the bank.
  • Equitable mortgage of the property of the borrower to the minimum extent of 1.5 times (150%) the limit sanctioned. If the principal borrower is not in position to offer such property for equitable mortgage, the bank may accept the equitable mortgage/ collateral securities of the sureties. The title of the property shall be examined by an advocate recognized by the bank. Also the value of the property shall be assessed by an assessor authorized by the bank. Charges for such examinations shall be borne by the borrower.

Documentation

  • Brief history and profile of Company and its promoters.
  • Bank Statements for last 12 months of all existing loan including Cash Credit if any.
  • Audited Financials for last three financial years.
  • Sanction Letter of an existing bank limit (if any).
  • Any other documents as required by the bank at a later stage
For loan terms and conditions, eligibility criteria, interest rate, loan term, security, EMI amount etc. wherever required In detail can be enquired with the nearest branch.

Cash Credit Loan (Unsecured)

(for details please contact the Branch Manager of your nearest branch) For loan terms and conditions, eligibility criteria, interest rate, loan term, security, EMI amount etc. wherever required In detail can be enquired with the nearest branch.