Cash Credit

  • Cash credit facility is available as a Working Capital for development of business against prime security of stock and collateral security. Trading / Manufacturing Units, Traders, Business community can avail the Cash Credit.

Cash credit Applicant details :

  • Copy of Income tax return of last three year along with balance sheet.
  • Provisional Balance Sheet (If required).
  • Copy of All related person's(Partner, Director etc) Income tax return with Balance sheet.
  • Memorandum and Article of Association in case of limited company, Partnership deed in case of Partnership Firm.
  • 3 Photographs of Applicant.
  • Business proof of Applicant.
  • All Registration Certificate of firm
  • Copy of PAN Card
  • Copy of Proof of ID (PAN Card, Aadhar Card, Driving License, passport) of all related person
  • Bank account statement of last year
  • Property File
  • If applicant borrow any loan from other bank then applicant must give copy of sanction letter and any other required loan details.
  • Applicant has to show all original documents to the bank for verification with xerox copy. Original documents will be returned to applicant after verification.

Guarantor Details

  • Photograph-two copies
  • Last tax bill
  • Last income tax return copy
  • Address proof – electric bill /telephone bill (any one) As per KYC norms
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms

Cash Credit Conditions

  • Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank.Bank charge will be noted in society’s book.
  • Valuation of the property will be required for old property. Bank will give loan of 60% of valuation amount.(for old property)and new property bank will give loan of 80%.
  • Applicant will have to take insurance of the building in favour of bank.
  • Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Applicant has to take share @ 2.5% of the limit.