VVCC Bank| SMSBanking
VVCC Bank| SMSBanking
Hypothecation/Cash Credit

Purpose:  For Working Capital Requirement
Limit Up To Rs 50.00 Lakh
Rate of Interest :11.00 % (WEF 01-11-2018)

Limit above To Rs 50.00 Lakh
Rate of Interest :10.50 % (WEF 01-11-2018)
Re-Payment Period : Renew / Review every year

Terms and Conditions:

  • Principal security will be Stock of finished goods, raw material and book debt up to 90 days.
  • Collateral securityrequired.
  • Charge to be registered with Govt. or Revenue Authorities.
  • KYC Documents with 2 Latest Photographs
  • 3 Yrs. I.T. Returns/ Balance Sheet, Statement of Net Current assets, Statement of book debts and Statement of Net worth.
  • Last 2 Yrs. Bank Account Statements.
  • 2 Guarantors required with KYC and Statement of Net worth.
  • Project Report (CMA Data) CA certified to be submitted (if new business).
  • Additional Shares (Linking Shares) to be taken @ 01.00% of sanctioned Limit.
  • Linking Share amount will be adjusted / refunded at the time of closer of loan account.
  • Dividend on linking Shares will be transferred in account as and when declared by the Board of Directors.
  • Penal interest @2% extra will be charged in case of irregular A/cs.
  • No Objection Certificate from other bank if any other facility availed.
  • Principal / Collateral Security must be covered by insurance.

Applicable Approx. Charges for above facilities.

Title Clearance Report 2500.00
Valuation Report of Property(if Required) Max 0.125% of Valuation Amount
Mortgage Charges
Legal Fees & Misc Charges 5500.00
Stamp Duty @ 0.35 % of Loan amount
Mortgage Registration Charge Max. Rs. 6000.00
Stamp charges for Loan Agreement @ 0.25% of Loan amount

VVCC Bank| SMSBanking