IFSC Code : IBKL0497LUC

Cash Credit

  • Loan Limit : Maximum Upto Rs.400.00 Lacs.
  • Repayment : On demand. (Renewable yearly)
  • Rate of Interest : Attractive rate of Interest.
  • Margin : 20 – 50%
  • Interest Calculation : Interest calculation on daily reducing balance.
  • Purpose : To meet working capital Requirement.
  • Security : Hypothecation of Stock ,furniture, fixture, plant & Machinery, Book Debts and Registered Mortgage of Immovable Property.
  • Guarantors : Min Two Guarantors acceptable to bank.
  • Shares Contribution : Main Share of Rs.1000/- + Additional shares of 2.5% of loan amount.
  • Charges :
    • Processing Fess : 1% of loan amount + applicable S.T.
    • Stationery Charges : Upto 1 Lakh Rs. 100 + applicable S.T.
      More than 1 Lakh Rs. 200 + applicable S.T.
    • CERSAI, Franking Charges, Property Valuation, Search & mortgage Fess as applicable
  • Condition : The turnover in cash credit a/c must be more than 5 time of sanctioned limit

Documents Required :

  • Loan application
  • PAN Card, Address Proof, latest Photograph, of the Applicant and Guarantors.
  • All property Related Documents.
  • In case of Businessman :
    • Proof of Business ( Shop Act, Food & Drugs License etc. as per applicability)
    • Last 3 years ITR, P& L A/c , Balance sheet
    • Last 6 months bank statement of business
  • Insurance : Insurance cover of Stock, Shop, factory, Plant & Machinery, Furniture & Fixtures and Immovable Property as per bank’s policy.
  • Any other documents as required by the bank at later stage.
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