NATURE OF FACILITY
● Over Draft Facility
ELIGIBLE CATEGORY OF BORROWERS
●Regular members of our bank only
LINE OF ACTIVITY / ELIGIBILITY
●For genuine business needs of persons/firms engaged in business activities of
Individuals/Proprietorship Concerns/Partnership Concerns/ LLPs/Companies etc.
QUANTUM OF LOAN
●A Running Credit Limit with a Maximum Limit of Rs.20.00 Lakh for a period of 12
Months reviewed and renewed before the expiry of the limit.
●To be brought to a credit once a year and monthly interest and other charges to be
RATE OF INTEREST
●8.75% per annum
●To meet working capital needs and improvement of business.
●Assignment of Life Policy, Lien on NSC/KVP, Mortgage of Property.
●Surety’s shall be Regular members / Nominal members of the bank.
●Specified loan application.
●Guarantor’s declaration form.
●Address and income proof of both borrower & sureties.
●IT Assessment orders (3 years) / Audited Financial statements.
●All original property documents/ Policies / NSC / KVP certificate.
●Valid legal opinion / valuation report on the property along with Insurance
●Required margin as the case may be
●Sanctioned plan & Estimation for construction.
●Any other letter/document related to the activity/purpose as the case may be.
●Other terms & conditions as applicable.
FOR MORE DETAILS / CLARIFICATION PLEASE CONTACT YOUR NEAREST
|UP TO 25.00||8.75%|
|>20.00 TO 25.00||9.25%|