Cash Credit Limits Back

  • Eligibility
    • Proprietorship, Partnership, Private limit & Public Limited
  • Documents Required
    • KYC compliance
    • Copy of Registration of the firm/ Company
    • Copy of partnership deed, Memo. & Article of Association etc (wherever applicable)
    • SSI registration certificate (in case of SSI unit)
    • Registration Certificate under Mumbai Shop & Establishment Act
    • Copies of last three years audited Balance sheet/Profit & Loss account
    • Last three years – Income tax returns
    • Copy of bank account statement
    • Latest paid stock / Book debt stastement, with age wise list of debtors
    • CMA
    • Original title deeds of property offered as security, tax, receipt, sanctioned map, city survey record etc
  • Rate of Interest
  • Extent of loan
  • Need based finance, maximum upto bank's exposure limit.
  • Rebate
    • Maximum to the extent of 1.5% on adherence of financial discipline as per sanctioned terms
  • Duration
    • Cash credit limit shall be renewed, every year, subject to satisfactory performance / turnover / submission of financial papers, stock statements etc.
  • Security
    • Hypothecation of Stocks in trade, Book debts (within 90 days)
    • Registered / equitable mortgage of the collateral security (immovable property) valued to the extent of 100% of the loan sanctioned
    • Guarantee from two guarantors, with adequate means / net worth.
  • Loan Charges
    • Processing / Scrutiny Charges : 1.15% of the loan amount or as per the sanctioned terms.
    • Share linking - Borrower will be required to purchase the shares of the Bank (as per sanction terms)
  • Other Conditions
    • The Borrower shall submit Stock / Book debt statement along with list of Debtors (within 90 days) every month.
    • Borrower shall submit Copies of Audited Balance Sheet, P&L account every year, prior to due date of renewal.
    • Operate the account exclusively with the Bank, within the drawing power, and achieve the turnover of five times and above the limit sanctioned.
    • Repay the monthly interest every month.
    • Follow the credit discipline as per bank’s norms, to avail interest rebate, wherever applicable.
    • Margin as per Banks policy as amended from time to time
Other Loans facilities

172, Shraddhanand Peth,
South Ambazari Road,
0712 - 2221120, 2221686
+91 9158884855,
+91 9158884844, +91 9158884845