Cash Credit

Parameter	Details
Loan Limit	Maximum Upto Rs.500.00 Lacs.
Repayment	On demand. (Renewable yearly)
Rate of Interest	12% to 16% p.a. (under the sole discretion of sanctioning authority)
Margin	0.3
Interest Calculation	Interest calculation on daily reducing balance.
Purpose	To meet working capital Requirement.
Security	Hypothecation of Stock ,furniture, fixture, plant & Machinery, Book Debts and Registered Mortgage of Immovable Property.
Guarantors	Min Two Guarantors acceptable to bank.
Shares Contribution	Main Share of Rs.5025/- + Additional shares of 2.5% of loan amount.
Processing Fees	1% of loan amount + applicable G.S.T.
Stationery Charges	Upto 1 Lakh Rs. 100 + applicable G.S.T, More than 1 Lakh Rs. 200 + applicable G.S.T.
Other Charges	CERSAI, Franking Charges, Property Valuation, Search & mortgage Fees as applicable
Condition	The turnover in cash credit a/c must be more than 5 time of sanctioned limit
Insurance	Insurance cover of Stock, Shop, factory, Plant & Machinery, Furniture & Fixtures and Immovable Property as per bank’s policy.
Other Conditions	Any other documents as required by the bank at later stage.

Documents Required:

Loan application
PAN Card, Address Proof, latest Photograph, of the Applicant and Guarantors.
All property Related Documents.
In case of Businessman : Proof of Business ( Shop Act, Food & Drugs License etc. as per applicability), Last 3 years ITR, P& L A/c , Balance sheet, Last 6 months bank statement of business