CASH CREDIT LIMIT/WORKING CAPITAL TERM LOAN (WCTL) TO RETAILERS (SHOPKEEPERS)
without security of immovable properties |
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Purpose
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For fulfilling the working capital needs of business.
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Max. Amount
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Minimum Rs. 1.00 lakh and Maximum Rs. 5.00 Lakh
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Eligibility
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The shop should be in the command area of the branch. Either the shop should be on ownership basis or residential flat/place should be on ownership.
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Rate of Interest
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11%
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Margin
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Stock & Debtors (upto 90 days only) : - 25%
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Membership
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Applicant & Sureties of all Cash Credit Limit shall be Regular Members
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Sureties
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One Surety either Salaried or Businessman with Net Take Salary/Income of above Rs. 15,000/- p.m.
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Service Charges
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1% of sanctioned limit plus applicable GST.
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Share Linkage
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2.5% of the amount sanctioned
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Other Charges
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Franking/Stamp Duty on documents, Assignment charges, CERSAI Charges, CIBIL & ROC charges if applicable, etc.
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