|i||Eligibility||Any regular member of the Bank engaged in any trade or industry or services or profession.|
|ii||Purpose||Working capital requirements.|
|iii||Nature of facility||
1) The credit facility may be sanctioned either in the form of CCL or as a Term Loan.
4) WCTL ( Working Capital Term Loan)
Hypothecation Of stocks and Book Debts of the firm outstanding for not more than 90 days.
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
|vi||Sureties||At least two sureties of good means and enjoying high reputation, subject to satisfaction of Bank.|
As per merits of each case, nature of security etc minimum 50%.
|viii||Limit||Need based credit limits to be assessed as per Bank’s policy/Rules.|
|ix||Period||12 months, subject to review thereafter. WCTL is however, repayable within a maximum period of 120 months in suitable instalments.|
|x||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.|
|xi||Insurance||All primary and collateral securities are to be insured adequately and comprehensively with Bank’s clause at party’s cost.|
The Vaish Cooperative Adarsh Bank Ltd.
Head Office: 3, Netaji Subhash Marg, Darya Ganj, New Delhi-110002
Admin Office: 21B/7, New Rohtak Road, Karol Bagh, New Delhi-110005
Phone: + 011 20838002 / 20838003