Hypo. Cash Credit Loan

Conditions

• The limit will be decided on the basis of turn over (sales) / projected sales i.e. 20% of turnover (sales) or projected sales against stock 30% margin of stock.
• Applicant has to provide collateral security to the tune of 70% of the limit by way registered mortgage declaration of residential premises, office, shop, godown, shed etc.
• Insurance of stock and mortgage property to be taken in favour of bank by the applicant.
• Original documents such as share certificate, Sale deed, Tax receipt allotment letter are required for registered mortgage of the property.
• Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
• Applicant has to submit stock statement at the end of quarter and before 10th of the next quarter.
• The applicant has to provide two guarantors.
• Limit is subject to renewal after 12 months.
• Applicant has to take share @ 2.5% to 5.0% of the limit.
• Processing charges of Rs. 50 to Rs. 250 will be levied on saction.