Purpose: For Working Capital Requirement
Limit Up To Rs 50.00 Lakh
Rate of Interest :10.00 % (WEF 26-06-2020)
Limit above To Rs 50.00 Lakh
Rate of Interest :09.50 % (WEF 26-06-2020)
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.
|Title Clearance Report||2500.00|
|Valuation Report of Property(if Required)||Max 0.125% of Valuation Amount|
|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|