Overdraft(CC)
Facility: Overdraft Limit
Eligibility: Firm
Purpose
Business Working Capital Needs for Existing Business.
Security
Primary: Hypothecation of Stocks & Receivables.
Collateral: Mortgage of Immovable Property.
Rate of Interest: 11.00% PA
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Loan Limit: Maximum Rs.500.00 Lacs
Max Loan period: 1 Year (subject to yearly renewal)
Guarantor: Government Employee/ I.T Assessee
Repayment: Repayable on Demand
Interest method: Diminishing Method
Basic Documents:
» KYC documents of Borrowers and Guarantors.
» Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
» Title Deeds of the property offered as security
» Other Documents As required.
Processing Fees: Nil
Terms & Conditions: As per Bank’s Loan Policy.