Updates:

Click here to see the latest and exciting Rupay Card offers.

More Details

Dear Customer, We have launched Video KYC facility for New customer to open savings ac

Credit facilities for commercial purposes - Scheme of Working Capital Finance

S No. Title Description
1. Eligibility Any regular member of the Bank engaged in any trade or industry or services or profession.
2. Purpose Working capital requirements.
3. Nature of facility ➤ The credit facility may be sanctioned either in the form of CCL or as a Term Loan.
➤ The credit limit is to be considered 20% of the projected Sales subject to verification of VAT/Sales Tax Returns of previous years/quarters which ever is lower.
➤ Drawing Power (DP) to be calculated on the basis of stock statement.
➤ WCTL ( Working Capital Term Loan)
4. Primary Securities Hypothecation Of stocks and Book Debts of the firm outstanding for not more than 90 days.
5. Collateral Security ➤ As per merit of each case, by way of registered mortgage of immovable property and/or hypothecation/or pledge of any other tangible security acceptable to the Bank owned by the borrower or surety/ies, who shall have to stand as Guarantor/s.
➤ Acceptable to Bank will be subject to verification of Property Title with the full chain papers from bank's Advocate and valuation of property for Mortgage form bank approved valuer
6. Sureties At least two sureties of good means and enjoying high reputation, subject to satisfaction of Bank.
7. Margin As per merits of each case, nature of security etc minimum 50%.
8. Limit Need based credit limits to be assessed as per Bank’s policy/Rules.
9. Period 12 months, subject to review thereafter. WCTL is however, repayable within a maximum period of 120 months in suitable instalments.
10. Rate of Interest As per Bank’s guidelines from time to time, including penal interest also as per bank’s rules, for non-compliance of term/s of sanction.
11. Insurance All primary and collateral securities are to be insured adequately and comprehensively with Bank’s clause at party’s cost.

Send Your Request &
Get Call Back

Fill all the necessary details and Get call from experts.