Overdraft Loan

PURPOSE	Cash credit is a cash loan given to an Individual/company. The bank provides the funding only after they acquire the required security to secure the loan. When the security has been provided, the company can continuously draw money from the bank to the specified limit set by the bank. Cash credit is offered to businesses to finance their working capital requirements. The businesses can buy raw materials, machinery etc. Limit is sanctioned based on the working capital requirement of the company minus the margin.
REPAYMENT	1 Year
ELIGIBLITY	Societies/ Institutions having satisfactory dealings with our bank.
QUANTUM	Maximum individual limit of the loan is Rs 40,00,000/-
PERIOD	Up to 60 months/5 years and should be renewed every year
RATE OF INTEREST	(click here for inetrest rate)
DOCUMENTS AND FORMALITIES TO BE SUBMITTED	Stipulated Loan Application with 2 passport size photos of applicant / guarantor Sale Deed/ Mother Deed Associated Membership application Associated membership of Rs. 100/- challan CHALLAN- Legal fee of Rs. 500/- Vamshavruksha/ G TREE Aadhar Card Form No 3 EC (14YEARS EC from SUBREGISTER OFFICE) RCC Building plan which is registered RCC Building registration copy IT returns of 3 years Bank Valuation Report
SECURITY	Mortgage of property acceptable to the Bank having clear marketable title. The land offered as security should be converted land/building. Consolidate Stock statement in the prescribed format should be submitted.