Cash Credit

Purpose:

Cash Credit Loan (Working Capital) products can be categorized broadly.

Eligibility Criteria:

Individuals who can qualify for loan are: SEP / SENP – Self Employed Professional / Self Employed Non-Professional Non individual entity shall be considered as second applicant / co borrower. The Business should be owned by Applicant/Borrower Individuals, Firms or Companies.

In Case of Firms, All Partners to stand as Co-Applicants/Guarantors.

Eligibility:

Age 21 to 60 Years.

Loan Amount

: Rs. 1 Cr.

Period:

15 Months.

Security:

Primary security –Stock & Book Debt,

In addition, Bank at its discretion may accept security in the form of Immoveable Property, Insurance Policies, etc.

Age of the property shall not exceed 30 years.

Residual/ balance life of the building should cover the loan tenure.

Guarantor:

Two Guarantors having a regular source of income including any family member (may vary from case to case basis).

Documents:

Filled up loan application form

2 Passport Size Photo

Identity Proof – Passport/ Driving License/ Voter ID/ PAN

Residential Address Proof

– Leave and License/ Registered Rent Agreement/Utility Bill (up to 3 months old), Passport

Leave & License Agreement if the applicant is currently staying on rent

Copy of Degree Certificate in case of Professionals.

IT return – Min 2- 3 Years,

P&L, Balance Sheet along with schedules of applicant, for minimum 2 years.

Bank Statement – 6 month to 1 Years.

Case to case basis required licenses etc.