Hypothecation/Cash Credit
Purpose: For Working Capital Requirement
Limit Up To Rs 300.00 Lakh
Rate of Interest :11.00 % (WEF 01-04-2023)
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 |
| 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 |