OVERDRAFT AGAIST PROPERTY (ODAP)

Purpose:

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

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.

Loan Amount:Rs. 1 Cr.

75% of the value assessed by Banks panelled gold valuer.

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).

LOAN Amount – Max 25 Lac.

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.