Cash Credit
Purpose
- To meet working capital requirement in any gainful Business/Industrial activity.
- To take over cash credit facility (regular a/c) availed for such purpose from another Bank.
Who are eligible
Individual/Firms and companies engaged in gainful Business /Industrial activity in the area of operation of the Bank.
Credit Limit
| Margin | 50% of valuation |
|---|---|
| Security | Mortgage of residential house/flat, for which loan availed. |
| Repayment | 120/180 EMIs (Maximum) |
Based on the requirement in business activity/turn over etc. the need based W/C limit will be assessed.
Collateral Security : Mortgage of property
Margin
– on property 50%
Renewal
– Cash Credit limit will be sanctioned for 12 months period and before expiry of 12 months period borrower should get the limit renewed.
