|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.
|v||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.|
|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.
Address: H.O.3, Netaji Subhash Marg, Darya Ganj
Phone: + 011 20838002 / 20838003