| Limit per Borrower : |
As per RBI Guide line Expouser limit for single borrower & group borrower. |
| Margin Money : |
25% of Valuation of Stock. 25% of Book Debts (Max 90 days old) Margin can be adjusted if 100% collateral Security is offered. |
| Rate of Interest : |
9.50 % |
| |
| Guarantors : |
One guaranters (who holds property) |
| Collateral Security : |
Immovable Property 110% of Loan Amount. |
| ( FD / NSC / KVP / LIC Policy etc.) |
90% of Loan Amount |
| Eligibility of borrower : |
- Having operative current account holder of the Bank for more than six months.
- Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
|
| Purpose of Loan : |
To meet Working capital Requirement |
| Quantum of finance : |
- 20% of annual turnover/ sales of the firm.
- Up to 75% of the value of the stock plus 50% of book debts (Up to 90 days).
- Current Ratio & Debt Equity Ratio should be at satisfactory level
|
| Share Linkage : |
As per bank rules |
| Repayment period : |
Review once in 6 Months and renewal in 12 Months. |
| Rate of Interest : |
9.50% p.a. |
| Security : |
Prime :
- Stock and book debts should be hypothecated to the Bank.
- Stock should be stored in R.C.C. built godown own/ rented by the borrower.
- Letter of access will have to be got duly signed by the owner.
- Bank's name plate indicating stocks hypothecated to the Bank will have to be displayed on godown where the stocks stored.
- Godown premises and Stock hypothecated to the Bank should be fully insured against the risk of fire, theft, burglary, flood, riots etc by the borrower at his.
- Own cost and the policy has to be with Bank clause.
- Borrower has to submit stock statement monthly or as instructed by the Bank within 7 days of the succeeding month otherwise penalty will be levied for delayed submission.
Collateral :
- Third party guarantee of one personal guarantors having Own Property & having good worthiness and financially sound and member of the Bank.
- Registered mortgage of title cleared property of the borrower/ guarantors.
|
