1) |
Loan Amount |
:- |
Up to Rs. 5,00,000/- (maximum) |
2) |
Rate of Interest |
:- |
12% to 16% ( under the sole discretion of sanctioning authority) |
3) |
Period |
:- |
Maximum 12 months ( Renewal every Year) |
4) |
Margin |
:- |
30% |
5) |
Guarantor |
:- |
Two good means(explore the possibility of additional guarantee of spouse although spouse in not having any documentary income proof) |
6) |
Share Holding |
:- |
@2.5% of sanction limit |
7) |
Processing Fees |
|
@ 1 % of loan amount + applicable G.S.T. (amount will be reduced to the extent of 0.5% in deserving cases subject to entire banking with us) @ 0.50% every year at the time of renewal |
8) |
Eligibility |
:- |
20% of total Salesor 70% of (Debtors+stock-creditors)or Requested amount whichever is lower. |
9) |
Documents |
:- |
As Applicable. (ITR, Financials, Bank statements, Stock & debtors statement, any other as applicable) |
10) |
Insurance |
:- |
As applicable. (Personal insurance and insurance for stock & furniture at shop) |
11) |
Renewal |
:- |
Every year |
12) |
Security |
:- |
Hypothecation of stock + debtors – creditors, Furniture in premises, |
13) |
Who can Apply |
:- |
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